Descriptive statistics
| Variable | Mean | Std. dev. | Min. | Max. |
|---|---|---|---|---|
| COVID19_DSE | 0.415 | 0.494 | 0 (no) | 1 (yes) |
| DAYS | 4.504 | 0.186 | 3.97 | 5.07 |
| REGIONAL_CASES | 2.592 | 1.458 | <0.01 | 5.70 |
| POPULATION70 | 0.176 | 0.033 | 0.09 | 0.27 |
| NURSING_HOME | 0.115 | 0.027 | 0.01 | 0.24 |
| SHARES_SECURITIES_TOP | 0.159 | 0.366 | 0 (no) | 1 (yes) |
| SHARES_SECURITIES_BOTTOM | 0.156 | 0.363 | 0 (no) | 1 (yes) |
| NO_SHARES_SECURITIES | 0.682 | 0.467 | 0 (no) | 1 (yes) |
| GOVERNMENT_CHANGE | 0.889 | 0.902 | 0.00 | 3.00 |
| BROAD_COALITION | 0.395 | 0.490 | 0 (no) | 1 (yes) |
| MINORITY_GOVERNMENT | 0.398 | 0.490 | 0 (no) | 1 (yes) |
| POPULATION_SIZE | 9.869 | 0.983 | 7.79 | 13.79 |
| EQUITY | 0.192 | 0.190 | −0.45 | 0.72 |
| GRANT | 0.236 | 0.103 | −0.29 | 0.45 |
| DELOITTE | 0.031 | 0.174 | 0 (no) | 1 (yes) |
| EY | 0.187 | 0.390 | 0 (no) | 1 (yes) |
| KPMG | 0.320 | 0.468 | 0 (no) | 1 (yes) |
| PwC | 0.415 | 0.494 | 0 (no) | 1 (yes) |
| AUDIT_RESIDUAL | 0.045 | 0.208 | 0 (no) | 1 (yes) |
| Variable | Mean | Std. dev. | Min. | Max. |
|---|---|---|---|---|
| COVID19_DSE | 0.415 | 0.494 | 0 (no) | 1 (yes) |
| DAYS | 4.504 | 0.186 | 3.97 | 5.07 |
| REGIONAL_CASES | 2.592 | 1.458 | <0.01 | 5.70 |
| POPULATION70 | 0.176 | 0.033 | 0.09 | 0.27 |
| NURSING_HOME | 0.115 | 0.027 | 0.01 | 0.24 |
| SHARES_SECURITIES_TOP | 0.159 | 0.366 | 0 (no) | 1 (yes) |
| SHARES_SECURITIES_BOTTOM | 0.156 | 0.363 | 0 (no) | 1 (yes) |
| NO_SHARES_SECURITIES | 0.682 | 0.467 | 0 (no) | 1 (yes) |
| GOVERNMENT_CHANGE | 0.889 | 0.902 | 0.00 | 3.00 |
| BROAD_COALITION | 0.395 | 0.490 | 0 (no) | 1 (yes) |
| MINORITY_GOVERNMENT | 0.398 | 0.490 | 0 (no) | 1 (yes) |
| POPULATION_SIZE | 9.869 | 0.983 | 7.79 | 13.79 |
| EQUITY | 0.192 | 0.190 | −0.45 | 0.72 |
| GRANT | 0.236 | 0.103 | −0.29 | 0.45 |
| DELOITTE | 0.031 | 0.174 | 0 (no) | 1 (yes) |
| EY | 0.187 | 0.390 | 0 (no) | 1 (yes) |
| KPMG | 0.320 | 0.468 | 0 (no) | 1 (yes) |
| PwC | 0.415 | 0.494 | 0 (no) | 1 (yes) |
| AUDIT_RESIDUAL | 0.045 | 0.208 | 0 (no) | 1 (yes) |
Note(s): For brevity, regional variables are not reported in the table. Of the 289 municipalities included in the analysis, 1.7% are located in REGION_BLEKINGE, 5.2% in REGION_DALARNA, 3.5% in REGION_GÄVLEBORG, 2.1% in REGION_HALLAND, 2.8% in REGION_JÄMTLAND_HÄRJEDALEN, 4.5% in REGION_JÖNKÖPING, 4.2% in REGION_KALMAR, 2.8% in REGION_KRONOBERG, 4.8% in REGION_NORRBOTTEN, 11.4% in REGION_SKÅNE, 9.0% in REGION_STOCKHOLM, 3.1% in REGION_SÖRMLAND, 2.8% in REGION_UPPSALA, 5.5% in REGION_VÄRMLAND, 5.2% in REGION_VÄSTERBOTTEN, 2.4% in REGION_VÄSTERNORRLAND, 3.5% in REGION_VÄSTMANLAND, 17.0% in REGION_VÄSTRAGÖTALAND, 4.2% in REGION_ÖREBRO and 4.5% in REGION_ÖSTERGÖTLAND
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