Table 1 Sample selection Description N... | Emerald Publishing

Table 1

Sample selection

Description	N
French, German, Italian, Spanish, United Kingdom nonfinancial firms (excluding US SIC codes 6) in Bureau van Dijk’s Amadeus database with group consolidated earnings before taxes negative and return on sales less than 3%	2,154,846
Less: Firms with no foreign affiliate or with foreign affiliate owned less than 50%	−2,136,897
Parent firms	17,949
Nonbanks and noninsurance (US SIC codes 6) UE subsidiaries owned more or equal than 50% for these 17,949 parent firms	103,612
Less: subsidiaries firms with missing tangible assets, intangible assets, total assets, EBIT, taxation and sales and other independent variables	−70,107
Less: Affiliates at joint control	−493
Subsidiaries	33,012
Subsidiaries -years in the period 2009 to 2015 (unbalanced sample)	199,863
Less: Observations with missing data for ownership and with negative net income	−195,834
Less: Observations with a pair of subsidiaries in the same country	−2,339
Final number of observations	1,690

Description	N
French, German, Italian, Spanish, United Kingdom nonfinancial firms (excluding US SIC codes 6) in Bureau van Dijk’s Amadeus database with group consolidated earnings before taxes negative and return on sales less than 3%	2,154,846
Less: Firms with no foreign affiliate or with foreign affiliate owned less than 50%	−2,136,897
Parent firms	17,949
Nonbanks and noninsurance (US SIC codes 6) UE subsidiaries owned more or equal than 50% for these 17,949 parent firms	103,612
Less: subsidiaries firms with missing tangible assets, intangible assets, total assets, EBIT, taxation and sales and other independent variables	−70,107
Less: Affiliates at joint control	−493
Subsidiaries	33,012
Subsidiaries -years in the period 2009 to 2015 (unbalanced sample)	199,863
Less: Observations with missing data for ownership and with negative net income	−195,834
Less: Observations with a pair of subsidiaries in the same country	−2,339
Final number of observations	1,690