Descriptive statistics
| N | Mean | SD | 0.25 | Median | 0.75 | ||
|---|---|---|---|---|---|---|---|
| Dependent variables | PEG | 10,641 | 0.095 | 0.058 | 0.058 | 0.085 | 0.117 |
| MPEG | 10,641 | 0.109 | 0.077 | 0.061 | 0.091 | 0.135 | |
| Independent variables | GP | 10,641 | 0.212 | 0.600 | 0.000 | 0.000 | 0.000 |
| GPR | 10,641 | 0.160 | 0.502 | 0.000 | 0.000 | 0.000 | |
| Control variables Moderating variables | SIZE | 10,641 | 22.086 | 1.308 | 21.126 | 21.894 | 22.811 |
| TOBIN_Q | 10,641 | 2.074 | 1.363 | 1.278 | 1.667 | 2.362 | |
| DEBT | 10,641 | 0.427 | 0.208 | 0.261 | 0.421 | 0.589 | |
| ROA | 10,641 | 0.04 | 0.218 | 0.013 | 0.036 | 0.067 | |
| AGE | 10,641 | 19.31 | 5.79 | 15.86 | 20.97 | 25.73 | |
| REST | 10,641 | 0.219 | 0.414 | 0.000 | 0.000 | 0.000 | |
| DAC | 10,641 | 0.019 | 0.178 | −0.03 | 0.019 | 0.070 | |
| CSRR | 10,641 | 26.643 | 15.781 | 17.75 | 22.78 | 28.63 | |
| SOE | 10,641 | 0.391 | 0.488 | 0.000 | 0.000 | 1.00 | |
| TOP10 | 10,641 | 0.36 | 0.15 | 0.24 | 0.344 | 0.463 | |
| IOWN | 10,641 | 0.381 | 0.243 | 0.165 | 0.385 | 0.573 | |
| BSIZE | 10,641 | 7.86 | 1.706 | 7.00 | 9.00 | 9.50 | |
| BIND | 10,641 | 0.373 | 0.053 | 0.333 | 0.333 | 0.429 | |
| DUAL | 10,641 | 0.262 | 0.440 | 0.000 | 0.000 | 1.000 | |
| FC | 10,641 | −3.696 | 0.258 | −3.867 | −3.709 | −3.536 | |
| EPU | 10,641 | 260.482 | 134.251 | 134.874 | 197.767 | 396.953 | |
| IC | 10,641 | 656.676 | 135.277 | 633.28 | 679.61 | 712.76 |
| N | Mean | SD | 0.25 | Median | 0.75 | ||
|---|---|---|---|---|---|---|---|
| Dependent variables | PEG | 10,641 | 0.095 | 0.058 | 0.058 | 0.085 | 0.117 |
| MPEG | 10,641 | 0.109 | 0.077 | 0.061 | 0.091 | 0.135 | |
| Independent variables | GP | 10,641 | 0.212 | 0.600 | 0.000 | 0.000 | 0.000 |
| GPR | 10,641 | 0.160 | 0.502 | 0.000 | 0.000 | 0.000 | |
| Control variables | SIZE | 10,641 | 22.086 | 1.308 | 21.126 | 21.894 | 22.811 |
| TOBIN_Q | 10,641 | 2.074 | 1.363 | 1.278 | 1.667 | 2.362 | |
| DEBT | 10,641 | 0.427 | 0.208 | 0.261 | 0.421 | 0.589 | |
| ROA | 10,641 | 0.04 | 0.218 | 0.013 | 0.036 | 0.067 | |
| AGE | 10,641 | 19.31 | 5.79 | 15.86 | 20.97 | 25.73 | |
| REST | 10,641 | 0.219 | 0.414 | 0.000 | 0.000 | 0.000 | |
| DAC | 10,641 | 0.019 | 0.178 | −0.03 | 0.019 | 0.070 | |
| CSRR | 10,641 | 26.643 | 15.781 | 17.75 | 22.78 | 28.63 | |
| SOE | 10,641 | 0.391 | 0.488 | 0.000 | 0.000 | 1.00 | |
| TOP10 | 10,641 | 0.36 | 0.15 | 0.24 | 0.344 | 0.463 | |
| IOWN | 10,641 | 0.381 | 0.243 | 0.165 | 0.385 | 0.573 | |
| BSIZE | 10,641 | 7.86 | 1.706 | 7.00 | 9.00 | 9.50 | |
| BIND | 10,641 | 0.373 | 0.053 | 0.333 | 0.333 | 0.429 | |
| DUAL | 10,641 | 0.262 | 0.440 | 0.000 | 0.000 | 1.000 | |
| FC | 10,641 | −3.696 | 0.258 | −3.867 | −3.709 | −3.536 | |
| EPU | 10,641 | 260.482 | 134.251 | 134.874 | 197.767 | 396.953 | |
| IC | 10,641 | 656.676 | 135.277 | 633.28 | 679.61 | 712.76 |
Note(s): This table reports the descriptive statistics of all variables used. All variables are defined in Table 2. This table is prepared by the authors
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