Table 3

Descriptive statistics of dependent variable and firm-specific factors

VariableMeanMedianStd. devMinMax
DR0.5160.5260.2410.0400.975
TANG0.3920.3790.2320.0100.950
SIZE1.5321.4370.707−0.0413.500
GROW0.1300.0750.327−0.5702.900
PROF0.1020.0770.101−0.1360.565
LIQ2.3041.5242.3290.24119.940
NDTS0.0450.0350.0360.0020.209

Source(s): Own elaboration

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