Table 3 Descriptive statistics on panel... | Emerald Publishing

Table 3

Descriptive statistics on panel B

Variables	Mean	SD	25pct	75pct
roa	3.828	10.601	1.800	7.860
roe	6.397	28.049	2.510	16.780
tobinsq	1.604	1.065	1.048	1.735
markettobook	2.422	2.344	1.131	2.788
assetgrowth	9.392	36.487	−3.060	12.560
salesgrowth	10.631	39.934	−1.640	14.660
efficiency	15.950	14.447	6.036	20.761
differentiation	32.432	17.297	19.690	42.934
log_assets	12.980	2.202	11.424	14.295
forsales	0.473	0.290	0.225	0.7213
diversified	0.421	0.494	0.000	1.000
leverage	0.119	0.120	0.010	0.195
marketgrowth	0.029	0.079	−0.017	0.074
concentration	0.219	0.100	0.169	0.265

Variables	Mean	SD	25pct	75pct
roa	3.828	10.601	1.800	7.860
roe	6.397	28.049	2.510	16.780
tobinsq	1.604	1.065	1.048	1.735
markettobook	2.422	2.344	1.131	2.788
assetgrowth	9.392	36.487	−3.060	12.560
salesgrowth	10.631	39.934	−1.640	14.660
efficiency	15.950	14.447	6.036	20.761
differentiation	32.432	17.297	19.690	42.934
log_assets	12.980	2.202	11.424	14.295
forsales	0.473	0.290	0.225	0.7213
diversified	0.421	0.494	0.000	1.000
leverage	0.119	0.120	0.010	0.195
marketgrowth	0.029	0.079	−0.017	0.074
concentration	0.219	0.100	0.169	0.265

Note(s): Table 3 presents descriptive results for the control and performance variables used in the regressions; n = 4,133

Source(s): Authors' own creation