Table 2 Distribution of each variable...

Table 2

Distribution of each variable and its corresponding set

Outcome/conditions	Full nonmembership (0.05)	Crossover point (0.5)	Full membership (0.95)
Cash holding	0.009	0.012	0.018
Board size	3	7	11
Board activity (frequency)	2	6	12
Board activity (duration)	0.008	0.011	0.013
Board composition	0.28	0.42	0.67
Board independence	0.24	0.38	0.59
Board diversity	0.31	0.58	0.71
CEO duality	0.28	0.31	0.35
Audit committee composition	0.22	0.38	0.56
Audit committee independence	0.33	0.59	0.72
Audit committee activity (frequency)	2	6	12
Audit committee activity (duration)	0.017	0.019	0.021
Compensation committee composition	0.21	0.39	0.54
Compensation committee independence	0.26	0.41	0.69
Compensation committee activity	1	3	6
Nomination committee composition	0.19	0.37	0.52
Nomination committee independence	0.36	0.52	0.72
Nomination committee activity (frequency)	1	2	4
Nomination committee activity (duration)	0.010	0.015	0.018
Family ownership concentration	0.12	0.39	0.58

Outcome/conditions	Full nonmembership (0.05)	Crossover point (0.5)	Full membership (0.95)
Cash holding	0.009	0.012	0.018
Board size	3	7	11
Board activity (frequency)	2	6	12
Board activity (duration)	0.008	0.011	0.013
Board composition	0.28	0.42	0.67
Board independence	0.24	0.38	0.59
Board diversity	0.31	0.58	0.71
CEO duality	0.28	0.31	0.35
Audit committee composition	0.22	0.38	0.56
Audit committee independence	0.33	0.59	0.72
Audit committee activity (frequency)	2	6	12
Audit committee activity (duration)	0.017	0.019	0.021
Compensation committee composition	0.21	0.39	0.54
Compensation committee independence	0.26	0.41	0.69
Compensation committee activity	1	3	6
Nomination committee composition	0.19	0.37	0.52
Nomination committee independence	0.36	0.52	0.72
Nomination committee activity (frequency)	1	2	4
Nomination committee activity (duration)	0.010	0.015	0.018
Family ownership concentration	0.12	0.39	0.58

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