Table 1 Descriptive statistics LPROD...

Table 1

Descriptive statistics

	LPROD	CAPUTI	SCSALES	QCERT	EXAUDIT	AGE	PDOM	PFOR	GOV	GRAFT	AGELG
Panel A: Descriptive statistics for 2006
Mean	−1.698	57.739	1.265	0.164	0.471	19.110	0.860	0.098	0.004	5.405	2.561
Standard deviation	18.738	33.376	3.239	0.371	0.499	17.239	0.331	0.280	0.053	20.463	0.952
Skewness	0.321	−0.653	7.352	1.810	0.117	2.117	−2.070	2.686	16.979	3.944	−0.499
Kurtosis	5.570	2.150	93.094	4.277	1.014	9.985	5.447	8.504	304.090	17.549	3.138
Panel B: Descriptive statistics for 2009
Mean	−0.979	59.522	1.342	0.222	0.432	17.816	0.795	0.114	0.010	8.398	2.542
Standard deviation	26.133	37.626	4.037	0.415	0.495	15.952	0.384	0.299	0.072	25.140	0.870
Skewness	0.316	−0.613	9.496	1.340	0.273	2.553	−1.455	2.415	8.717	2.974	−0.491
Kurtosis	6.017	1.834	145.365	2.795	1.074	13.466	3.250	7.077	85.415	10.483	3.664
Panel C: Descriptive statistics for 2013
Mean	−3.621	62.367	1.520	0.261	0.513	18.096	0.899	0.074	0.006	6.873	2.582
Standard deviation	23.001	33.254	4.215	0.439	0.500	14.077	0.281	0.242	0.060	24.272	0.880
Skewness	0.380	−0.788	7.244	1.088	−0.051	1.839	−2.620	3.233	11.986	3.402	−0.844
Kurtosis	7.900	2.360	92.384	2.184	1.003	8.749	8.219	11.977	162.471	12.894	3.965
Panel D: Descriptive statistics for 2016
Mean	0.093	71.332	1.415	0.231	0.583	22.337	0.871	0.091	0.005	6.023	2.824
Standard deviation	22.883	28.368	3.687	0.422	0.493	16.708	0.310	0.263	0.054	22.810	0.832
Skewness	0.418	−1.033	4.757	1.275	−0.337	1.845	−2.201	2.839	12.039	3.695	−0.949
Kurtosis	7.025	3.324	33.345	2.626	1.113	8.028	6.169	9.543	163.273	15.020	4.763
Panel E: Descriptive statistics for 2019
Mean	−1.454	65.502	1.671	0.270	0.343	17.970	0.894	0.067	0.005	4.048	2.585
Standard deviation	20.963	32.366	4.375	0.444	0.475	14.384	0.284	0.228	0.054	18.810	0.850
Skewness	0.510	−0.904	4.920	1.036	0.662	2.298	−2.541	3.441	11.906	4.646	−0.724
Kurtosis	9.498	2.645	35.608	2.073	1.438	11.948	7.841	13.484	159.329	23.171	3.763

	LPROD	CAPUTI	SCSALES	QCERT	EXAUDIT	AGE	PDOM	PFOR	GOV	GRAFT	AGELG
Panel A: Descriptive statistics for 2006
Mean	−1.698	57.739	1.265	0.164	0.471	19.110	0.860	0.098	0.004	5.405	2.561
Standard deviation	18.738	33.376	3.239	0.371	0.499	17.239	0.331	0.280	0.053	20.463	0.952
Skewness	0.321	−0.653	7.352	1.810	0.117	2.117	−2.070	2.686	16.979	3.944	−0.499
Kurtosis	5.570	2.150	93.094	4.277	1.014	9.985	5.447	8.504	304.090	17.549	3.138
Panel B: Descriptive statistics for 2009
Mean	−0.979	59.522	1.342	0.222	0.432	17.816	0.795	0.114	0.010	8.398	2.542
Standard deviation	26.133	37.626	4.037	0.415	0.495	15.952	0.384	0.299	0.072	25.140	0.870
Skewness	0.316	−0.613	9.496	1.340	0.273	2.553	−1.455	2.415	8.717	2.974	−0.491
Kurtosis	6.017	1.834	145.365	2.795	1.074	13.466	3.250	7.077	85.415	10.483	3.664
Panel C: Descriptive statistics for 2013
Mean	−3.621	62.367	1.520	0.261	0.513	18.096	0.899	0.074	0.006	6.873	2.582
Standard deviation	23.001	33.254	4.215	0.439	0.500	14.077	0.281	0.242	0.060	24.272	0.880
Skewness	0.380	−0.788	7.244	1.088	−0.051	1.839	−2.620	3.233	11.986	3.402	−0.844
Kurtosis	7.900	2.360	92.384	2.184	1.003	8.749	8.219	11.977	162.471	12.894	3.965
Panel D: Descriptive statistics for 2016
Mean	0.093	71.332	1.415	0.231	0.583	22.337	0.871	0.091	0.005	6.023	2.824
Standard deviation	22.883	28.368	3.687	0.422	0.493	16.708	0.310	0.263	0.054	22.810	0.832
Skewness	0.418	−1.033	4.757	1.275	−0.337	1.845	−2.201	2.839	12.039	3.695	−0.949
Kurtosis	7.025	3.324	33.345	2.626	1.113	8.028	6.169	9.543	163.273	15.020	4.763
Panel E: Descriptive statistics for 2019
Mean	−1.454	65.502	1.671	0.270	0.343	17.970	0.894	0.067	0.005	4.048	2.585
Standard deviation	20.963	32.366	4.375	0.444	0.475	14.384	0.284	0.228	0.054	18.810	0.850
Skewness	0.510	−0.904	4.920	1.036	0.662	2.298	−2.541	3.441	11.906	4.646	−0.724
Kurtosis	9.498	2.645	35.608	2.073	1.438	11.948	7.841	13.484	159.329	23.171	3.763

Note(s): This Table presents the correlation matrix of the variables employed in the study. LPROD, CAPUTI, SCSALES, AGE, and GRAFT are, respectively, annual labour productivity growth, percentage capital utilisation, security cost as a percentage of annual sales, firm age in years, and graft index. QCERT and EXAUDIT are, respectively, the percentage of firms with internationally recognised quality certification and the percentage of firms with annual financial statements reviewed by an external auditor. Also, PDOM, PFOR, and GOV are the proportion of private domestic ownership, private foreign ownership, and state ownership in a firm, respectively

[ViewLarge]