Table 1 Summary statistics and... | Emerald Publishing

Table 1

Summary statistics and correlation matrix

Variables		N	Mean	SD	Min	Median	Max
Panel A: Summary Statistics
CSR variables	CSRLatter	11,023	25.87	14.35	−6.72	22.98	90.87
CSR variables	CSRFormer	11,023	26.46	18.24	−14.89	22.22	90.87
Firm variables	Size	11,023	9.673	0.636	7.613	9.573	13.25
	ROA	11,023	0.055	0.064	−0.014	0.043	4.489
	Leverage	11,023	0.438	0.208	0.022	0.433	1.009
	Growth	11,023	0.079	0.445	−9.55	0.057	25.83
	TobinQ	11,023	2.661	2.351	0.594	1.921	38.21
	OwnershipCon	11,023	60.77	15.34	8.975	61.83	98.59
	SOE	11,023	0.229	0.420	0	0	1
	MgmtHolding	11,023	0.564	0.496	0	1	1
	CEODuality	11,023	0.256	0.437	0	0	1
Executive variables	ExeAge	11,023	52.21	8.113	25	52	83
	ExeGender	11,023	0.840	0.367	0	1	1
	ExeEdu	11,023	0.707	0.455	0	1	1
	ExeOveseas	11,023	0.143	0.35	0	0	1
	ExeAcademic	11,023	0.482	0.50	0	0	1
	ExeFinBack	11,023	0.221	0.415	0	0	1

Variables		N	Mean	SD	Min	Median	Max
Panel A: Summary Statistics
CSR variables	CSRLatter	11,023	25.87	14.35	−6.72	22.98	90.87
CSR variables	CSRFormer	11,023	26.46	18.24	−14.89	22.22	90.87
Firm variables	Size	11,023	9.673	0.636	7.613	9.573	13.25
	ROA	11,023	0.055	0.064	−0.014	0.043	4.489
	Leverage	11,023	0.438	0.208	0.022	0.433	1.009
	Growth	11,023	0.079	0.445	−9.55	0.057	25.83
	TobinQ	11,023	2.661	2.351	0.594	1.921	38.21
	OwnershipCon	11,023	60.77	15.34	8.975	61.83	98.59
	SOE	11,023	0.229	0.420	0	0	1
	MgmtHolding	11,023	0.564	0.496	0	1	1
	CEODuality	11,023	0.256	0.437	0	0	1
Executive variables	ExeAge	11,023	52.21	8.113	25	52	83
	ExeGender	11,023	0.840	0.367	0	1	1
	ExeEdu	11,023	0.707	0.455	0	1	1
	ExeOveseas	11,023	0.143	0.35	0	0	1
	ExeAcademic	11,023	0.482	0.50	0	0	1
	ExeFinBack	11,023	0.221	0.415	0	0	1

Variables	CSR Latter	CSR Former	Size	ROA	Leverage	Growth	TobinQ	OwnershipCon	SOE	Mgmt Holding	CEO Duality	Exe Age	Exe Gender	Exe Edu	Exe Overseas	Exe Academic	Exe FinBack
Panel B Correlation Matrix
CSRLatter	1
CSRFormer	0.148***	1
Size	0.297***	0.148***	1
ROA	0.160***	−0.015	−0.114***	1
Leverage	0.096***	0.079***	0.513***	−0.290***	1
Growth	0.000	0.000	−0.016*	0.032***	0.044***	1
TobinQ	−0.046***	−0.041***	−0.441***	0.276***	−0.338***	0.042***	1
OwnershipCon	0.127***	0.043***	0.206***	0.157***	−0.023**	−0.016*	0.031***	1
SOE	0.086***	0.055***	0.199***	−0.035***	−0.153***	−0.007	−0.055***	0.168***	1
MgmtHolding	−0.069***	−0.061***	−0.242***	0.121***	0.128***	−0.012	0.130***	−0.049***	−0.149***	1
CEODuality	−0.081***	−0.048***	−0.175***	0.093***	−0.247***	−0.002	0.148***	0.045***	−0.102***	0.208***	1
ExeAge	0.002	0.048***	0.095***	−0.015	0.042***	−0.012	−0.062***	0.033***	0.016*	−0.011	−0.032***	1
ExeGender	0.018*	0.032***	0.039***	−0.010	0.038***	0.001	−0.002	0.042***	0.035***	−0.024**	−0.012	0.061***	1
ExeEdu	−0.009	−0.025***	−0.056***	0.066***	−0.111***	−0.024**	0.079***	0.107***	−0.033***	0.328***	0.110***	−0.023**	−0.012	1
ExeOveseas	0.051***	0.057***	0.058***	0.003	0.011	−0.007	0.026***	0.019**	−0.018*	0.014	0.015*	0.029***	0.028***	0.060***	1
ExeAcademic	−0.011	−0.017*	−0.055***	0.026***	−0.057***	−0.010	0.027***	−0.017*	−0.058***	0.064***	0.036***	0.257***	−0.034***	0.063***	0.180***	1
ExeFinBack	0.086***	0.085***	0.122***	0.019**	0.066***	0.000	−0.005	0.034***	0.026***	−0.029***	0.012	−0.071***	0.045***	0.064***	0.064***	−0.065***	1

Variables	CSRLatter	CSRFormer	Size	ROA	Leverage	Growth	TobinQ	OwnershipCon	SOE	MgmtHolding	CEODuality	ExeAge	ExeGender	ExeEdu	ExeOverseas	ExeAcademic	ExeFinBack
Panel B Correlation Matrix
CSRLatter	1
CSRFormer	0.148***	1
Size	0.297***	0.148***	1
ROA	0.160***	−0.015	−0.114***	1
Leverage	0.096***	0.079***	0.513***	−0.290***	1
Growth	0.000	0.000	−0.016*	0.032***	0.044***	1
TobinQ	−0.046***	−0.041***	−0.441***	0.276***	−0.338***	0.042***	1
OwnershipCon	0.127***	0.043***	0.206***	0.157***	−0.023**	−0.016*	0.031***	1
SOE	0.086***	0.055***	0.199***	−0.035***	−0.153***	−0.007	−0.055***	0.168***	1
MgmtHolding	−0.069***	−0.061***	−0.242***	0.121***	0.128***	−0.012	0.130***	−0.049***	−0.149***	1
CEODuality	−0.081***	−0.048***	−0.175***	0.093***	−0.247***	−0.002	0.148***	0.045***	−0.102***	0.208***	1
ExeAge	0.002	0.048***	0.095***	−0.015	0.042***	−0.012	−0.062***	0.033***	0.016*	−0.011	−0.032***	1
ExeGender	0.018*	0.032***	0.039***	−0.010	0.038***	0.001	−0.002	0.042***	0.035***	−0.024**	−0.012	0.061***	1
ExeEdu	−0.009	−0.025***	−0.056***	0.066***	−0.111***	−0.024**	0.079***	0.107***	−0.033***	0.328***	0.110***	−0.023**	−0.012	1
ExeOveseas	0.051***	0.057***	0.058***	0.003	0.011	−0.007	0.026***	0.019**	−0.018*	0.014	0.015*	0.029***	0.028***	0.060***	1
ExeAcademic	−0.011	−0.017*	−0.055***	0.026***	−0.057***	−0.010	0.027***	−0.017*	−0.058***	0.064***	0.036***	0.257***	−0.034***	0.063***	0.180***	1
ExeFinBack	0.086***	0.085***	0.122***	0.019**	0.066***	0.000	−0.005	0.034***	0.026***	−0.029***	0.012	−0.071***	0.045***	0.064***	0.064***	−0.065***	1

Note(s): Table 1 reports the summary statistics and correlations of the variables. ***p < 0.01, **p < 0.05, *p < 0.1

Source(s): Table 1 by authors