Descriptive statistical analysis
| Variable | Sample size | Mean | Standard deviation | Minimum value | Median | Maximum value |
|---|---|---|---|---|---|---|
| Abtone | 21,141 | −0.001 | 0.110 | −0.284 | 0.005 | 0.228 |
| D&O | 21,141 | 0.104 | 0.305 | 0.000 | 0.000 | 1.000 |
| Size | 21,141 | 22.325 | 1.316 | 19.438 | 22.175 | 26.263 |
| Lev | 21,141 | 0.469 | 0.209 | 0.068 | 0.467 | 0.979 |
| Growth | 21,141 | 0.459 | 1.398 | −0.753 | 0.133 | 10.545 |
| Dir | 21,141 | 0.416 | 0.075 | 0.333 | 0.400 | 0.667 |
| Top1 | 21,141 | 0.335 | 0.149 | 0.082 | 0.311 | 0.743 |
| ROE | 21,141 | 0.045 | 0.175 | −1.108 | 0.063 | 0.349 |
| Loss | 21,141 | 0.128 | 0.334 | 0.000 | 0.000 | 1.000 |
| OCF | 21,141 | 0.046 | 0.072 | −0.180 | 0.045 | 0.250 |
| LR | 21,141 | 1.983 | 1.742 | 0.249 | 1.475 | 11.300 |
| Dual | 21,141 | 0.221 | 0.415 | 0.000 | 0.000 | 1.000 |
| BM | 21,141 | 1.096 | 1.171 | 0.083 | 0.711 | 7.038 |
| Board | 21,141 | 2.131 | 0.204 | 1.609 | 2.197 | 2.708 |
| Variable | Sample size | Mean | Standard deviation | Minimum value | Median | Maximum value |
|---|---|---|---|---|---|---|
| 21,141 | −0.001 | 0.110 | −0.284 | 0.005 | 0.228 | |
| 21,141 | 0.104 | 0.305 | 0.000 | 0.000 | 1.000 | |
| 21,141 | 22.325 | 1.316 | 19.438 | 22.175 | 26.263 | |
| 21,141 | 0.469 | 0.209 | 0.068 | 0.467 | 0.979 | |
| 21,141 | 0.459 | 1.398 | −0.753 | 0.133 | 10.545 | |
| 21,141 | 0.416 | 0.075 | 0.333 | 0.400 | 0.667 | |
| 21,141 | 0.335 | 0.149 | 0.082 | 0.311 | 0.743 | |
| 21,141 | 0.045 | 0.175 | −1.108 | 0.063 | 0.349 | |
| 21,141 | 0.128 | 0.334 | 0.000 | 0.000 | 1.000 | |
| 21,141 | 0.046 | 0.072 | −0.180 | 0.045 | 0.250 | |
| 21,141 | 1.983 | 1.742 | 0.249 | 1.475 | 11.300 | |
| 21,141 | 0.221 | 0.415 | 0.000 | 0.000 | 1.000 | |
| 21,141 | 1.096 | 1.171 | 0.083 | 0.711 | 7.038 | |
| 21,141 | 2.131 | 0.204 | 1.609 | 2.197 | 2.708 |
Source(s): Table by authors
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