Descriptive statistics
| Model 1: H1 variables | |||||||||
|---|---|---|---|---|---|---|---|---|---|
| Variable | Industry sector (N = 3,708) | Service sector (N = 3,069) | Both sectors (N = 6,777) | ||||||
| Mean | Median | SD | Mean | Median | SD | Mean | Median | SD | |
| ROA | 0.0775 | 0.0780 | 0.0969 | 0.0546 | 0.0450 | 0.0665 | 0.0665 | 0.0635 | 0.0845 |
| SIZE | 3.5740 | 3.6380 | 0.6913 | 3.6554 | 3.7432 | 0.6199 | 3.6130 | 3.6932 | 0.6593 |
| MCPA | 646.84 | 381.73 | 81.678 | 739.92 | 335.56 | 23.412 | 691.29 | 352.75 | 17.226 |
| LA | 0.2166 | 0.0280 | 1.0613 | 0.2248 | 0.0365 | 1.0598 | 0.2205 | 0.0297 | 1.0605 |
| Model 2: H2 variables | |||||||||
| Industry sector (N = 3,708) | Service sector (N = 3,069) | Both sectors (N = 6,777) | |||||||
| Variable | Mean | Median | SD | Mean | Median | SD | Mean | Median | SD |
| Tobin's_Q | 1.7530 | 1.2355 | 3.0413 | 1.0795 | 0.7545 | 1.1083 | 1.4314 | 1.0332 | 2.3520 |
| SIZE | 3.5740 | 3.6380 | 0.6913 | 3.6554 | 3.7432 | 0.6199 | 3.6130 | 3.6932 | 0.6593 |
| NE | 103.73 | 53.100 | 1.9656 | 80.544 | 47.620 | 1.9177 | 92.606 | 50.400 | 1.9461 |
| OC | 0.0157 | 0.0016 | 0.2428 | 0.0492 | 0.00094 | 0.6847 | 0.0322 | 0.0013 | 0.5109 |
| Model 1: | |||||||||
|---|---|---|---|---|---|---|---|---|---|
| Variable | Industry sector ( | Service sector ( | Both sectors ( | ||||||
| Mean | Median | SD | Mean | Median | SD | Mean | Median | SD | |
| ROA | 0.0775 | 0.0780 | 0.0969 | 0.0546 | 0.0450 | 0.0665 | 0.0665 | 0.0635 | 0.0845 |
| SIZE | 3.5740 | 3.6380 | 0.6913 | 3.6554 | 3.7432 | 0.6199 | 3.6130 | 3.6932 | 0.6593 |
| MCPA | 646.84 | 381.73 | 81.678 | 739.92 | 335.56 | 23.412 | 691.29 | 352.75 | 17.226 |
| LA | 0.2166 | 0.0280 | 1.0613 | 0.2248 | 0.0365 | 1.0598 | 0.2205 | 0.0297 | 1.0605 |
| Model 2: | |||||||||
| Industry sector ( | Service sector ( | Both sectors ( | |||||||
| Variable | Mean | Median | SD | Mean | Median | SD | Mean | Median | SD |
| Tobin's_Q | 1.7530 | 1.2355 | 3.0413 | 1.0795 | 0.7545 | 1.1083 | 1.4314 | 1.0332 | 2.3520 |
| SIZE | 3.5740 | 3.6380 | 0.6913 | 3.6554 | 3.7432 | 0.6199 | 3.6130 | 3.6932 | 0.6593 |
| NE | 103.73 | 53.100 | 1.9656 | 80.544 | 47.620 | 1.9177 | 92.606 | 50.400 | 1.9461 |
| OC | 0.0157 | 0.0016 | 0.2428 | 0.0492 | 0.00094 | 0.6847 | 0.0322 | 0.0013 | 0.5109 |