Table 3 Sample summary statistics...

Table 3

Sample summary statistics

Countries		ROA	S	ΔS	LEV	COMP	TANG	ΔGDP	MCR
All	Mean	4.400	188449.200	12.364	0.689	0.625	57.413	4.493	76.964
	Median	3.529	11763.300	5.926	0.385	0.715	53.180	4.094	65.369
	St.Dev	6.058	682971.900	26.208	0.895	0.293	34.988	4.161	46.276
	Min	−16.854	48.608	−25.714	0.000	0.000	2.331	−5.417	15.248
	Max	25.709	5300000.000	160.228	4.931	0.975	160.038	14.231	303.569
	Skewness	0.330	5.934	3.098	2.387	−0.975	0.608	0.077	2.544
	Kurtosis	6.066	40.802	15.733	9.798	2.816	2.939	2.373	11.410
China	Mean	5.674	8447.900	23.727	0.532	0.744	44.845	9.297	54.583
	Median	4.605	1786.980	13.138	0.304	0.824	40.367	9.400	45.059
	St.Dev	6.314	56124.260	35.968	0.704	0.232	28.104	2.087	24.498
	Min	−16.854	48.608	−25.714	0.000	0.000	2.331	6.689	17.579
	Max	25.709	2400000.000	160.228	4.931	0.975	160.038	14.231	126.088
	Skewness	0.457	24.744	2.211	2.764	−1.702	0.784	0.765	1.338
	Kurtosis	5.464	812.179	8.229	13.688	5.533	3.447	2.930	5.234
Hong-Kong	Mean	5.866	53036.130	9.684	0.348	0.188	47.810	3.522	298.857
	Median	5.017	4069.445	6.470	0.182	0.000	41.804	2.762	303.569
	St.Dev	5.972	293823.300	20.791	0.453	0.243	33.691	3.244	18.150
	Min	−16.854	48.608	−25.714	0.000	0.000	2.331	−5.417	203.431
	Max	25.709	5300000.000	160.228	3.852	0.753	160.038	8.700	303.569
	Skewness	0.017	15.099	3.090	2.576	0.749	0.896	−0.464	−4.662
	Kurtosis	5.390	262.989	19.844	13.386	1.963	3.764	3.251	24.293
Indonesia	Mean	4.733	1168089.000	17.285	0.989	0.200	62.493	4.775	26.896
	Median	3.874	447455.500	9.724	0.597	0.000	59.647	5.031	26.753
	St.Dev	8.389	1541105.000	30.966	1.150	0.263	31.963	2.551	9.731
	Min	−16.854	48.608	−25.714	0.000	0.000	2.331	−5.417	15.248
	Max	25.709	5300000.000	160.228	4.931	0.790	160.038	8.220	47.728
	Skewness	0.163	1.705	2.303	1.783	0.807	0.512	−2.566	0.400
	Kurtosis	4.005	4.740	9.877	5.982	2.014	2.941	11.082	2.070
India	Mean	6.882	30073.400	20.652	0.913	0.660	56.553	7.759	78.179
	Median	5.613	3394.700	13.604	0.632	0.743	54.598	7.923	69.206
	St.Dev	6.184	170546.600	29.270	0.994	0.286	30.942	1.743	26.770
	Min	−16.854	48.608	−25.714	0.000	0.000	2.331	3.891	46.547
	Max	25.709	5300000.000	160.228	4.931	0.964	160.038	10.260	151.451
	Skewness	0.763	15.189	2.385	1.766	−1.046	0.442	−0.566	1.473
	Kurtosis	4.643	314.973	10.523	6.514	3.081	2.907	2.691	4.798
Israel	Mean	6.748	2671.782	11.765	1.056	0.176	45.579	3.649	75.675
	Median	5.488	370.765	5.847	0.618	0.000	36.489	4.094	67.818
	St.Dev	6.478	11588.960	26.883	1.286	0.247	36.700	1.498	21.155
	Min	−16.854	48.608	−25.714	0.000	0.000	2.331	0.025	32.531
	Max	25.709	131442.000	160.228	4.931	0.748	160.038	8.169	131.532
	Skewness	0.529	8.843	3.280	1.716	0.958	1.126	−0.248	0.754
	Kurtosis	5.491	87.857	17.045	5.257	2.337	3.844	3.152	3.590
Japan	Mean	2.634	217380.700	4.030	0.690	0.686	65.106	0.556	66.078
	Median	2.357	42030.500	2.307	0.362	0.753	61.242	0.118	61.847
	St.Dev	4.019	640473.000	13.637	0.927	0.228	38.823	1.909	16.592
	Min	−16.854	384.000	−25.714	0.000	0.000	2.331	−5.417	47.237
	Max	25.709	5300000.000	160.228	4.931	0.951	160.038	4.192	101.847
	Skewness	−0.282	5.812	4.212	2.417	−1.378	0.412	−0.964	1.135
	Kurtosis	9.151	41.049	38.856	9.687	4.468	2.454	5.576	2.861
South Korea	Mean	1.826	814102.900	9.676	0.877	0.557	54.962	3.710	79.339
	Median	2.294	218709.500	5.634	0.563	0.628	53.983	2.933	88.896
	St.Dev	6.932	1408667.000	23.690	1.011	0.294	29.534	2.207	21.419
	Min	−16.854	6014.480	−25.714	0.000	0.000	2.331	−5.417	15.248
	Max	25.709	5300000.000	160.228	4.931	0.971	160.038	11.309	99.994
	Skewness	−0.607	2.374	2.877	2.062	−0.644	0.493	0.202	−1.346
	Kurtosis	4.644	7.424	16.473	7.670	2.270	3.365	7.662	3.585
Malaysia	Mean	5.809	1526.552	10.876	0.446	0.415	56.135	5.112	141.960
	Median	5.340	284.903	6.330	0.225	0.477	54.313	5.473	142.996
	St.Dev	6.610	5128.967	22.892	0.643	0.289	31.216	3.202	35.143
	Min	−16.854	48.608	−25.714	0.000	0.000	2.331	−5.417	81.988
	Max	25.709	92545.800	160.228	4.931	0.885	160.038	10.003	303.569
	Skewness	0.084	7.773	3.537	3.272	−0.264	0.466	−1.525	2.407
	Kurtosis	5.305	82.036	21.304	18.288	1.637	2.997	5.804	12.498
Pakistan	Mean	9.015	13,244.080	16.200	0.856	0.477	68.480	3.538	20.986
	Median	7.586	2940.710	11.602	0.514	0.491	67.787	2.748	15.248
	St.Dev	6.921	39362.430	23.353	1.015	0.354	31.297	1.713	10.170
	Min	−14.733	54.886	−25.714	0.000	0.000	2.331	1.014	15.248
	Max	25.709	589566.000	160.228	4.931	0.936	160.038	7.667	46.537
	Skewness	0.656	7.562	2.287	1.872	−0.167	0.233	1.085	1.687
	Kurtosis	2.970	77.757	12.282	6.811	1.529	2.961	3.354	4.235
Philippines	Mean	5.971	50940.540	12.030	0.592	0.173	66.860	5.109	58.520
	Median	5.333	8082.405	6.825	0.375	0.000	62.509	5.243	55.520
	St.Dev	6.870	142214.500	24.921	0.742	0.239	37.510	1.848	23.381
	Min	−16.854	48.608	−25.714	0.000	0.000	2.331	−0.577	22.748
	Max	25.709	1300000.000	160.228	4.931	0.747	160.038	7.632	97.345
	Skewness	0.003	5.518	2.965	2.439	0.940	0.555	−1.100	0.040
	Kurtosis	5.014	39.779	16.430	11.541	2.238	2.756	4.138	1.518
Singapore	Mean	5.922	15,217.490	11.981	0.486	0.302	48.856	5.322	213.032
	Median	5.296	176.643	6.168	0.282	0.298	43.218	5.001	217.081
	St.Dev	6.779	258631.300	25.706	0.652	0.290	33.857	3.940	53.885
	Min	−16.854	48.608	−25.714	0.000	0.000	2.331	−2.225	104.267
	Max	25.709	5300000.000	160.228	4.931	0.873	160.038	14.231	299.574
	Skewness	−0.138	20.045	2.503	3.189	0.274	0.773	0.302	−0.500
	Kurtosis	4.973	408.325	12.536	17.815	1.559	3.232	2.777	2.233
Thailand	Mean	7.456	19135.290	12.170	0.673	0.253	74.276	3.604	70.503
	Median	6.737	2373.460	6.163	0.386	0.148	72.929	3.444	72.404
	St.Dev	7.121	100721.400	25.823	0.863	0.269	40.986	2.699	26.759
	Min	−16.854	48.608	−25.714	0.000	0.000	2.331	−5.417	15.248
	Max	25.709	2200000.000	160.228	4.931	0.782	160.038	8.120	106.371
	Skewness	0.134	14.123	2.840	2.298	0.448	0.232	−0.724	−0.434
	Kurtosis	4.248	242.517	14.047	9.624	1.616	2.217	3.963	2.162

Countries		ROA	S	ΔS	LEV	COMP	TANG	ΔGDP	MCR
All	Mean	4.400	188449.200	12.364	0.689	0.625	57.413	4.493	76.964
	Median	3.529	11763.300	5.926	0.385	0.715	53.180	4.094	65.369
	St.Dev	6.058	682971.900	26.208	0.895	0.293	34.988	4.161	46.276
	Min	−16.854	48.608	−25.714	0.000	0.000	2.331	−5.417	15.248
	Max	25.709	5300000.000	160.228	4.931	0.975	160.038	14.231	303.569
	Skewness	0.330	5.934	3.098	2.387	−0.975	0.608	0.077	2.544
	Kurtosis	6.066	40.802	15.733	9.798	2.816	2.939	2.373	11.410
China	Mean	5.674	8447.900	23.727	0.532	0.744	44.845	9.297	54.583
	Median	4.605	1786.980	13.138	0.304	0.824	40.367	9.400	45.059
	St.Dev	6.314	56124.260	35.968	0.704	0.232	28.104	2.087	24.498
	Min	−16.854	48.608	−25.714	0.000	0.000	2.331	6.689	17.579
	Max	25.709	2400000.000	160.228	4.931	0.975	160.038	14.231	126.088
	Skewness	0.457	24.744	2.211	2.764	−1.702	0.784	0.765	1.338
	Kurtosis	5.464	812.179	8.229	13.688	5.533	3.447	2.930	5.234
Hong-Kong	Mean	5.866	53036.130	9.684	0.348	0.188	47.810	3.522	298.857
	Median	5.017	4069.445	6.470	0.182	0.000	41.804	2.762	303.569
	St.Dev	5.972	293823.300	20.791	0.453	0.243	33.691	3.244	18.150
	Min	−16.854	48.608	−25.714	0.000	0.000	2.331	−5.417	203.431
	Max	25.709	5300000.000	160.228	3.852	0.753	160.038	8.700	303.569
	Skewness	0.017	15.099	3.090	2.576	0.749	0.896	−0.464	−4.662
	Kurtosis	5.390	262.989	19.844	13.386	1.963	3.764	3.251	24.293
Indonesia	Mean	4.733	1168089.000	17.285	0.989	0.200	62.493	4.775	26.896
	Median	3.874	447455.500	9.724	0.597	0.000	59.647	5.031	26.753
	St.Dev	8.389	1541105.000	30.966	1.150	0.263	31.963	2.551	9.731
	Min	−16.854	48.608	−25.714	0.000	0.000	2.331	−5.417	15.248
	Max	25.709	5300000.000	160.228	4.931	0.790	160.038	8.220	47.728
	Skewness	0.163	1.705	2.303	1.783	0.807	0.512	−2.566	0.400
	Kurtosis	4.005	4.740	9.877	5.982	2.014	2.941	11.082	2.070
India	Mean	6.882	30073.400	20.652	0.913	0.660	56.553	7.759	78.179
	Median	5.613	3394.700	13.604	0.632	0.743	54.598	7.923	69.206
	St.Dev	6.184	170546.600	29.270	0.994	0.286	30.942	1.743	26.770
	Min	−16.854	48.608	−25.714	0.000	0.000	2.331	3.891	46.547
	Max	25.709	5300000.000	160.228	4.931	0.964	160.038	10.260	151.451
	Skewness	0.763	15.189	2.385	1.766	−1.046	0.442	−0.566	1.473
	Kurtosis	4.643	314.973	10.523	6.514	3.081	2.907	2.691	4.798
Israel	Mean	6.748	2671.782	11.765	1.056	0.176	45.579	3.649	75.675
	Median	5.488	370.765	5.847	0.618	0.000	36.489	4.094	67.818
	St.Dev	6.478	11588.960	26.883	1.286	0.247	36.700	1.498	21.155
	Min	−16.854	48.608	−25.714	0.000	0.000	2.331	0.025	32.531
	Max	25.709	131442.000	160.228	4.931	0.748	160.038	8.169	131.532
	Skewness	0.529	8.843	3.280	1.716	0.958	1.126	−0.248	0.754
	Kurtosis	5.491	87.857	17.045	5.257	2.337	3.844	3.152	3.590
Japan	Mean	2.634	217380.700	4.030	0.690	0.686	65.106	0.556	66.078
	Median	2.357	42030.500	2.307	0.362	0.753	61.242	0.118	61.847
	St.Dev	4.019	640473.000	13.637	0.927	0.228	38.823	1.909	16.592
	Min	−16.854	384.000	−25.714	0.000	0.000	2.331	−5.417	47.237
	Max	25.709	5300000.000	160.228	4.931	0.951	160.038	4.192	101.847
	Skewness	−0.282	5.812	4.212	2.417	−1.378	0.412	−0.964	1.135
	Kurtosis	9.151	41.049	38.856	9.687	4.468	2.454	5.576	2.861
South Korea	Mean	1.826	814102.900	9.676	0.877	0.557	54.962	3.710	79.339
	Median	2.294	218709.500	5.634	0.563	0.628	53.983	2.933	88.896
	St.Dev	6.932	1408667.000	23.690	1.011	0.294	29.534	2.207	21.419
	Min	−16.854	6014.480	−25.714	0.000	0.000	2.331	−5.417	15.248
	Max	25.709	5300000.000	160.228	4.931	0.971	160.038	11.309	99.994
	Skewness	−0.607	2.374	2.877	2.062	−0.644	0.493	0.202	−1.346
	Kurtosis	4.644	7.424	16.473	7.670	2.270	3.365	7.662	3.585
Malaysia	Mean	5.809	1526.552	10.876	0.446	0.415	56.135	5.112	141.960
	Median	5.340	284.903	6.330	0.225	0.477	54.313	5.473	142.996
	St.Dev	6.610	5128.967	22.892	0.643	0.289	31.216	3.202	35.143
	Min	−16.854	48.608	−25.714	0.000	0.000	2.331	−5.417	81.988
	Max	25.709	92545.800	160.228	4.931	0.885	160.038	10.003	303.569
	Skewness	0.084	7.773	3.537	3.272	−0.264	0.466	−1.525	2.407
	Kurtosis	5.305	82.036	21.304	18.288	1.637	2.997	5.804	12.498
Pakistan	Mean	9.015	13,244.080	16.200	0.856	0.477	68.480	3.538	20.986
	Median	7.586	2940.710	11.602	0.514	0.491	67.787	2.748	15.248
	St.Dev	6.921	39362.430	23.353	1.015	0.354	31.297	1.713	10.170
	Min	−14.733	54.886	−25.714	0.000	0.000	2.331	1.014	15.248
	Max	25.709	589566.000	160.228	4.931	0.936	160.038	7.667	46.537
	Skewness	0.656	7.562	2.287	1.872	−0.167	0.233	1.085	1.687
	Kurtosis	2.970	77.757	12.282	6.811	1.529	2.961	3.354	4.235
Philippines	Mean	5.971	50940.540	12.030	0.592	0.173	66.860	5.109	58.520
	Median	5.333	8082.405	6.825	0.375	0.000	62.509	5.243	55.520
	St.Dev	6.870	142214.500	24.921	0.742	0.239	37.510	1.848	23.381
	Min	−16.854	48.608	−25.714	0.000	0.000	2.331	−0.577	22.748
	Max	25.709	1300000.000	160.228	4.931	0.747	160.038	7.632	97.345
	Skewness	0.003	5.518	2.965	2.439	0.940	0.555	−1.100	0.040
	Kurtosis	5.014	39.779	16.430	11.541	2.238	2.756	4.138	1.518
Singapore	Mean	5.922	15,217.490	11.981	0.486	0.302	48.856	5.322	213.032
	Median	5.296	176.643	6.168	0.282	0.298	43.218	5.001	217.081
	St.Dev	6.779	258631.300	25.706	0.652	0.290	33.857	3.940	53.885
	Min	−16.854	48.608	−25.714	0.000	0.000	2.331	−2.225	104.267
	Max	25.709	5300000.000	160.228	4.931	0.873	160.038	14.231	299.574
	Skewness	−0.138	20.045	2.503	3.189	0.274	0.773	0.302	−0.500
	Kurtosis	4.973	408.325	12.536	17.815	1.559	3.232	2.777	2.233
Thailand	Mean	7.456	19135.290	12.170	0.673	0.253	74.276	3.604	70.503
	Median	6.737	2373.460	6.163	0.386	0.148	72.929	3.444	72.404
	St.Dev	7.121	100721.400	25.823	0.863	0.269	40.986	2.699	26.759
	Min	−16.854	48.608	−25.714	0.000	0.000	2.331	−5.417	15.248
	Max	25.709	2200000.000	160.228	4.931	0.782	160.038	8.120	106.371
	Skewness	0.134	14.123	2.840	2.298	0.448	0.232	−0.724	−0.434
	Kurtosis	4.248	242.517	14.047	9.624	1.616	2.217	3.963	2.162

Note(s): 1. ROA, S, ΔS, TANG, ΔGDP, MCR are given in percentages whereas LEV and COMP are given in ratios

Source(s): Authors’ calculations based on COMPUSTAT Global Database and World Bank Database

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