Descriptive statistics
| Variable | Obs. | Mean | Media | Std. Dev. | Min. | Max. |
|---|---|---|---|---|---|---|
| Water_disclosure | 7,099 | 1.385 | 1.386 | 0.695 | 0.000 | 2.639 |
| Water_dummy | 24,001 | 0.278 | 1.000 | 0.448 | 0.000 | 1.000 |
| Gender_num | 7,099 | 1.091 | 1.000 | 1.055 | 0.000 | 6.000 |
| Gender_ratio | 7,099 | 0.122 | 0.111 | 0.119 | 0.000 | 0.444 |
| Gender_ind | 7,099 | 0.528 | 0.000 | 0.663 | 0.000 | 3.000 |
| Water_sensitive | 7,099 | 0.341 | 0.000 | 0.474 | 0.000 | 1.000 |
| Size | 7,099 | 22.900 | 22.760 | 1.390 | 20.180 | 25.990 |
| Lev | 7,099 | 0.488 | 0.497 | 0.205 | 0.060 | 0.920 |
| Roa | 7,099 | 0.042 | 0.036 | 0.054 | −0.166 | 0.197 |
| SOE | 7,099 | 0.580 | 1.000 | 0.494 | 0.000 | 1.000 |
| Dual | 7,099 | 0.184 | 0.000 | 0.387 | 0.000 | 1.000 |
| Board | 7,099 | 0.375 | 0.364 | 0.055 | 0.333 | 0.571 |
| Tobin’s Q | 7,099 | 1.924 | 1.495 | 1.254 | 0.903 | 8.144 |
| Age | 7,099 | 2.395 | 2.565 | 0.640 | 0.693 | 3.219 |
| Variable | Obs. | Mean | Media | Std. Dev. | Min. | Max. |
|---|---|---|---|---|---|---|
| 7,099 | 1.385 | 1.386 | 0.695 | 0.000 | 2.639 | |
| 24,001 | 0.278 | 1.000 | 0.448 | 0.000 | 1.000 | |
| 7,099 | 1.091 | 1.000 | 1.055 | 0.000 | 6.000 | |
| 7,099 | 0.122 | 0.111 | 0.119 | 0.000 | 0.444 | |
| 7,099 | 0.528 | 0.000 | 0.663 | 0.000 | 3.000 | |
| 7,099 | 0.341 | 0.000 | 0.474 | 0.000 | 1.000 | |
| 7,099 | 22.900 | 22.760 | 1.390 | 20.180 | 25.990 | |
| 7,099 | 0.488 | 0.497 | 0.205 | 0.060 | 0.920 | |
| 7,099 | 0.042 | 0.036 | 0.054 | −0.166 | 0.197 | |
| 7,099 | 0.580 | 1.000 | 0.494 | 0.000 | 1.000 | |
| 7,099 | 0.184 | 0.000 | 0.387 | 0.000 | 1.000 | |
| 7,099 | 0.375 | 0.364 | 0.055 | 0.333 | 0.571 | |
| 7,099 | 1.924 | 1.495 | 1.254 | 0.903 | 8.144 | |
| 7,099 | 2.395 | 2.565 | 0.640 | 0.693 | 3.219 |
Note(s): This table presents the summary statistics for the main variables used in regression analyses. All variables are defined in Appendix 1
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