Descriptive statistics
| Variables | Observation | Mean | SD | Minimum | Maximum |
|---|---|---|---|---|---|
| Dependent variables | |||||
| ROA | 300 | 0.1089 | 0.0982 | −0.2339 | 0.3678 |
| MB | 300 | 2.9075 | 3.2813 | 0.0646 | 20.1300 |
| ROE | 300 | 0.2471 | 0.2121 | −0.3722 | 1.3000 |
| Independent variables | |||||
| CEE | 300 | 0.4297 | 0.4134 | 0.0118 | 2.5988 |
| HCE | 300 | 5.6768 | 4.9100 | 0.2890 | 31.6639 |
| SCE | 300 | 0.7194 | 0.2546 | −2.4601 | 0.9684 |
| VAIC | 300 | 6.8260 | 4.9288 | −2.1592 | 32.6734 |
| Control variables | |||||
| Size | 300 | 4.9606 | 0.4194 | 3.0665 | 5.9365 |
| PC | 300 | 0.1967 | 0.1795 | 0.0012 | 0.6673 |
| Variables | Observation | Mean | SD | Minimum | Maximum |
|---|---|---|---|---|---|
| ROA | 300 | 0.1089 | 0.0982 | −0.2339 | 0.3678 |
| MB | 300 | 2.9075 | 3.2813 | 0.0646 | 20.1300 |
| ROE | 300 | 0.2471 | 0.2121 | −0.3722 | 1.3000 |
| CEE | 300 | 0.4297 | 0.4134 | 0.0118 | 2.5988 |
| HCE | 300 | 5.6768 | 4.9100 | 0.2890 | 31.6639 |
| SCE | 300 | 0.7194 | 0.2546 | −2.4601 | 0.9684 |
| VAIC | 300 | 6.8260 | 4.9288 | −2.1592 | 32.6734 |
| Size | 300 | 4.9606 | 0.4194 | 3.0665 | 5.9365 |
| PC | 300 | 0.1967 | 0.1795 | 0.0012 | 0.6673 |
Note(s): SD stands for standard deviation
Source(s): Authors' compilation
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