Table A1.

Panel composition by industrial sector

Industry sectorYearsObs.
201320142015201620172018Count%
Energy222222122
Materials89101011105812
Industrial16172021181510722
Consumer discretionary7689994810
Consumer staples676575367
Health care778101074910
Information technology345788357
Communication services546677357
Utilities7999995211
Real estate39111013135912
Total647485899485491100

Notes:

This table shows the number of firms by industry sector and year to compound the panel data. Additionally, it shows the number of indexed and nonindexed firms by industry sector

Source: Authors’ own creation

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