Table 1 Sample selection process... | Emerald Publishing

Table 1

Sample selection process

		Firm-years	Firms
Publicly traded German firms between 2000 and 2019		13,764	1,175
–	Financial industry or missing industry-classification	2,796	253
–	Missing strategy variables	4,931	271
Panel A		6,037	651
–	Missing performance variables	720	46
–	Missing control variables	1,184	90
Panel B		4,133	515

		Firm-years	Firms
Publicly traded German firms between 2000 and 2019		13,764	1,175
–	Financial industry or missing industry-classification	2,796	253
–	Missing strategy variables	4,931	271
Panel A		6,037	651
–	Missing performance variables	720	46
–	Missing control variables	1,184	90
Panel B		4,133	515

Note(s): Table 1 presents the sample formation for this study

Source(s): Authors' own creation