Table 1. Sample selection process Stages...

Table 1.

Sample selection process

Stages in the sample selection process	No. of firms
Public listed pharmaceutical companies in Asia-Pacific developed countries	453
Less: firms less than 10 years in operation	33
Less: companies missing data for the period 2011 to 2020	154
Final sample	266
Firm-year observations	2,660 ^[5]

Stages in the sample selection process	No. of firms
Public listed pharmaceutical companies in Asia-Pacific developed countries	453
Less: firms less than 10 years in operation	33
Less: companies missing data for the period 2011 to 2020	154
Final sample	266
Firm-year observations	2,660 [5]

Source: Table by authors

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