Table 2 The descriptive statistics The... | Emerald Publishing

Table 2

The descriptive statistics

The descriptive statistics of the capital structure determinants
	Observations	Av	St.d	Min	Max
Ṣukūk/assets	36	0.058	0.071	0.000	0.327
EBIT/total assets	36	0.075	0.062	−0.002	0.222
Fixed assets/total assets	36	0.411	0.292	0.0004	0.874
Depreciation/total assets	36	0.019	0.026	0.000	0.114
Market-to-book ratio	36	2.264	2.368	0.230	15.730
Sd ROA	36	0.036	0.052	0.001	0.296
ln assets	36	16.528	2.724	8.020	19.577

The descriptive statistics of the capital structure determinants
	Observations	Av	St.d	Min	Max
Ṣukūk/assets	36	0.058	0.071	0.000	0.327
EBIT/total assets	36	0.075	0.062	−0.002	0.222
Fixed assets/total assets	36	0.411	0.292	0.0004	0.874
Depreciation/total assets	36	0.019	0.026	0.000	0.114
Market-to-book ratio	36	2.264	2.368	0.230	15.730
Sd ROA	36	0.036	0.052	0.001	0.296
ln assets	36	16.528	2.724	8.020	19.577

The descriptive statistics of the target leverage model
	Observations	Av	St.d	Min	Max
Ṣukūk_t-Ṣukūk_t−1/assets	36	0.057	0.090	−0.327	0.327
Ṣukūk-Ṣukūk*_t−1/assets	36	1.868	0.789	0.859	2.349

The descriptive statistics for the fund flow deficit
	Observations	Av	St.d	Min	Max
DEF_t	36	12.809	9.456	−0.408	75.661
Ṣukūk_t	36	0.058	0.071	0.000	0.327

Note(s): Ṣukūk∗_it: the target debt level for firm i at time

Ṣukūk∗_it = βX_it + ε_it; X_it: Vector of explanatory variables, identified by the capital structure theories