Table 3 Summary of descriptive...

Table 3

Summary of descriptive statistics for developed countries' sample

Variable	Definition	Mean	Median	SD
TDTA	Total debt to total assets (%)	20.61	17.95	18.04
LSL	Log of sales	6.12	5.94	2.00
MTB	Market to book ratio	2.03	1.38	2.22
PPETA	Property, plant and equipment, net, scaled by total assets (%)	27.00	23.00	23.00
DEPTA	Depreciation to total assets (%)	3.00	2.00	3.00
EBITA	Earnings before interest and tax scaled by total assets (%)	3.00	5.00	2.95
FAge	Year of establishment	10.76	0	22.86
POR	Payout ratio (%)	18.69	4.62	17.03
EVTA	Enterprise value to total assets	1.45	0.78	1.41
GPDG	Growth rate of GDP (%)	2.69	2.67	1.90
INF	Inflation rate (%)	1.71	1.50	1.10
INT	Banks' lending rate (%)	2.77	3.00	2.01
PCDBM	Private credit by deposit money bank (%)	118.39	124.52	27.03

Variable	Definition	Mean	Median	SD
TDTA	Total debt to total assets (%)	20.61	17.95	18.04
LSL	Log of sales	6.12	5.94	2.00
MTB	Market to book ratio	2.03	1.38	2.22
PPETA	Property, plant and equipment, net, scaled by total assets (%)	27.00	23.00	23.00
DEPTA	Depreciation to total assets (%)	3.00	2.00	3.00
EBITA	Earnings before interest and tax scaled by total assets (%)	3.00	5.00	2.95
FAge	Year of establishment	10.76	0	22.86
POR	Payout ratio (%)	18.69	4.62	17.03
EVTA	Enterprise value to total assets	1.45	0.78	1.41
GPDG	Growth rate of GDP (%)	2.69	2.67	1.90
INF	Inflation rate (%)	1.71	1.50	1.10
INT	Banks' lending rate (%)	2.77	3.00	2.01
PCDBM	Private credit by deposit money bank (%)	118.39	124.52	27.03

Note(s): Critical value for testing the difference between two means is 1.96. If the Z-test calculated is greater than the Z-critical value, the null hypotheses that there is no difference between the mean of variables of developed countries and developing countries is rejected

Source(s): Table by Thakur and modified by Matemilola

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