Table 3

Descriptive statistics

VariableObs.MeanMediaStd. Dev.Min.Max.
Water_disclosure7,0991.3851.3860.6950.0002.639
Water_dummy24,0010.2781.0000.4480.0001.000
Gender_num7,0991.0911.0001.0550.0006.000
Gender_ratio7,0990.1220.1110.1190.0000.444
Gender_ind7,0990.5280.0000.6630.0003.000
Water_sensitive7,0990.3410.0000.4740.0001.000
Size7,09922.90022.7601.39020.18025.990
Lev7,0990.4880.4970.2050.0600.920
Roa7,0990.0420.0360.054−0.1660.197
SOE7,0990.5801.0000.4940.0001.000
Dual7,0990.1840.0000.3870.0001.000
Board7,0990.3750.3640.0550.3330.571
Tobin’s Q7,0991.9241.4951.2540.9038.144
Age7,0992.3952.5650.6400.6933.219

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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