Table III. Descriptive statistics of the... | Emerald Publishing

Table III.

Descriptive statistics of the studied variables

Variable	No. of observations	Average	SD	Minimum	Maximum
BM	1,691	3.4787	9.04	−92.67	81.30
BM forecast	1,602	3.3170	2.94	−23.24	30.08
ROE forecast	1,602	0.0957	0.02	−0.25	0.36
Aggregate forecast (FRM)	1,691	0.4269	7.32	−80.43	64.36
Beta	1,339	0.7730	0.25	−0.07	2.10
Size (in thousand R$)	1,688	5,592,396.33	20,413,196.54	376	286,390,438
Momentum	1,691	0.1125	0.47	−2.10	2.76
Liquidity
Negotiability	1,691	0.4045	1.13	0.03	12.56
Trading quantity	1,691	146.748.55	615.960.03	6	8.114.196
Traded volume (R$)	1,691	2,922,968	14,937,630.12	14	218,327,039

Variable	No. of observations	Average	SD	Minimum	Maximum
BM	1,691	3.4787	9.04	−92.67	81.30
BM forecast	1,602	3.3170	2.94	−23.24	30.08
ROE forecast	1,602	0.0957	0.02	−0.25	0.36
Aggregate forecast (FRM)	1,691	0.4269	7.32	−80.43	64.36
Beta	1,339	0.7730	0.25	−0.07	2.10
Size (in thousand R$)	1,688	5,592,396.33	20,413,196.54	376	286,390,438
Momentum	1,691	0.1125	0.47	−2.10	2.76
Liquidity
Negotiability	1,691	0.4045	1.13	0.03	12.56
Trading quantity	1,691	146.748.55	615.960.03	6	8.114.196
Traded volume (R$)	1,691	2,922,968	14,937,630.12	14	218,327,039

Notes:

The variables were calculated according to the procedures described in Table II. Size, trading quantity and traded volume are shown in gross figures. The remaining variables are indices