Table 2. Descriptive statistics of the...

Table 2.

Descriptive statistics of the invested firms’ sales, number of employees, income and total assets by investment length (1–11 years) and investor type (HGVC or GVC)

	HGVC backed firms						GVC backed firms
Investment years	Count	Mean	SD	25^th per-centile	Median	75^th per-centile	Count	Mean	SD	25^th per-centile	Median	75^th per-centile
Sales
1	335	31.3	91.4	0	0.1	11.2	80	197.0	384.4	2.0	30.6	210.7
2	324	65.1	156.2	0	3.6	60.8	80	357.6	1,205.2	21.0	61.8	245.8
3	292	94.9	203.0	0	8.8	90.8	72	341.1	898.3	18.2	76.6	312.3
4	248	126.9	263.4	0	17.2	116.8	57	435.9	1,143.5	30.0	106.1	263.4
5	200	182.9	429.2	0.3	17.8	173.6	47	295.6	609.2	27.8	93.8	228.3
6	131	207.4	473.1	0	14.5	184.9	34	315.5	570.7	18.6	123.5	290.3
7	79	202.5	436.3	0	7.8	171.1	14	332.7	783.0	18.2	145.9	264.1
8	36	231.5	485.5	0	0.1	160.3	6	184.5	183.1	21.7	154.3	297.1
9	23	280.2	665.2	0	0	146.5	2	287.1	83.2	–	–	–
10	9	384.6	878.3	0	10.8	30.2
11	5	9.3	15.8	0	0	10.2
No. of Employees
1	326	2.8	5.2	0	1	3	80	13.8	26.5	2	5	15.5
2	322	5.7	13.0	1	2	7	80	15.0	25.9	3	6	15
3	292	6.5	15.4	0	2	8	72	16.5	36.6	3	6.5	13.5
4	248	6.9	13.6	0	2	8	57	19.1	51.5	3	7	13
5	200	7.7	15.8	0	2	9	47	11.5	21.6	2	4	10
6	132	7.9	15.0	0	1.5	9	34	10.4	14.8	3	6	11
7	79	6.7	12.4	0	1	8	14	8.5	9.4	2	4	13
8	36	6.9	13.5	0	0	5	6	10.8	12.6	2	4	27
9	22	7.1	15.8	0	0	3	2	24	5.7	–	–	–
10	10	9.6	19.49	0	0	1
11	5	0.2	0.4	0	0	0
Income
1	333	–23.1	50.7	–27.9	–7.2	–0.8	80	10.5	99.3	–13.7	0.8	27.1
2	324	–43.8	84.6	–56.8	–15.1	–2.3	80	24.6	159.1	–23.5	1.1	38.7
3	293	–46.4	121.2	–71.5	–13.8	–0.6	72	0.1	103.2	–23.8	0.2	15.1
4	248	–14.8	350.6	–66.1	–14.7	–0.5	57	21.5	104.9	–15.6	1.5	16.5
5	200	–42.0	109.4	–83.8	–11.3	–0.5	47	9.1	58.9	–14.6	5.2	20.2
6	132	–59.7	177.7	–78.3	–12.9	–0.4	34	8.0	38.6	–5.3	4.5	19.1
7	80	–37.9	135.0	–47.0	–6.6	1.7	14	5.2	22.2	–11.0	2.1	20.8
8	36	–44.3	126.0	–58.2	–6.8	1.3	6	6.4	12.7	–5.2	4.1	14.3
9	23	–3.8	106.1	–13.0	–3.0	3.8	2	–11.5	54	–	–	–
10	9	–117.7	407.4	–17.6	–6.7	45.6
11	5	–48.8	102.9	–17.3	–5.7	–3.0
Total assets
1	334	251.8	288.7	43.6	131.5	415.5	80	318.0	402.2	93.0	223.7	394.5
2	324	328.4	398.3	41.1	183.6	479.8	80	501.6	1108.4	112.8	264.1	398.0
3	293	399.3	608.7	51.7	233.0	527.4	72	442.3	625.6	81.9	263.9	501.4
4	248	484.9	804.7	67.0	270.7	574.7	57	528.0	807.0	134.3	281.4	440.1
5	200	609.9	1518.8	92.2	291.5	719.5	47	440.2	666.7	102.2	243.0	451.8
6	132	496.4	631.7	94.9	315.0	713.6	34	423.7	619.8	92.8	238.9	482.6
7	80	439.3	481.4	90.6	292.7	600.0	14	322.5	359.4	44.3	312.2	426.4
8	36	526.3	464.5	178.5	430.4	833.7	6	239.1	171.8	40.4	272.8	347.6
9	23	634.8	706.9	163.7	450.4	869.0	2	358.4	161.1	–	–	–
10	9	735.1	518.7	295.4	631.1	902.7
11	5	556.7	431.2	216.0	502.5	880.2

	HGVC backed firms						GVC backed firms
Investment years	Count	Mean	SD	25^th per-centile	Median	75^th per-centile	Count	Mean	SD	25^th per-centile	Median	75^th per-centile
Sales
1	335	31.3	91.4	0	0.1	11.2	80	197.0	384.4	2.0	30.6	210.7
2	324	65.1	156.2	0	3.6	60.8	80	357.6	1,205.2	21.0	61.8	245.8
3	292	94.9	203.0	0	8.8	90.8	72	341.1	898.3	18.2	76.6	312.3
4	248	126.9	263.4	0	17.2	116.8	57	435.9	1,143.5	30.0	106.1	263.4
5	200	182.9	429.2	0.3	17.8	173.6	47	295.6	609.2	27.8	93.8	228.3
6	131	207.4	473.1	0	14.5	184.9	34	315.5	570.7	18.6	123.5	290.3
7	79	202.5	436.3	0	7.8	171.1	14	332.7	783.0	18.2	145.9	264.1
8	36	231.5	485.5	0	0.1	160.3	6	184.5	183.1	21.7	154.3	297.1
9	23	280.2	665.2	0	0	146.5	2	287.1	83.2	–	–	–
10	9	384.6	878.3	0	10.8	30.2
11	5	9.3	15.8	0	0	10.2
No. of Employees
1	326	2.8	5.2	0	1	3	80	13.8	26.5	2	5	15.5
2	322	5.7	13.0	1	2	7	80	15.0	25.9	3	6	15
3	292	6.5	15.4	0	2	8	72	16.5	36.6	3	6.5	13.5
4	248	6.9	13.6	0	2	8	57	19.1	51.5	3	7	13
5	200	7.7	15.8	0	2	9	47	11.5	21.6	2	4	10
6	132	7.9	15.0	0	1.5	9	34	10.4	14.8	3	6	11
7	79	6.7	12.4	0	1	8	14	8.5	9.4	2	4	13
8	36	6.9	13.5	0	0	5	6	10.8	12.6	2	4	27
9	22	7.1	15.8	0	0	3	2	24	5.7	–	–	–
10	10	9.6	19.49	0	0	1
11	5	0.2	0.4	0	0	0
Income
1	333	–23.1	50.7	–27.9	–7.2	–0.8	80	10.5	99.3	–13.7	0.8	27.1
2	324	–43.8	84.6	–56.8	–15.1	–2.3	80	24.6	159.1	–23.5	1.1	38.7
3	293	–46.4	121.2	–71.5	–13.8	–0.6	72	0.1	103.2	–23.8	0.2	15.1
4	248	–14.8	350.6	–66.1	–14.7	–0.5	57	21.5	104.9	–15.6	1.5	16.5
5	200	–42.0	109.4	–83.8	–11.3	–0.5	47	9.1	58.9	–14.6	5.2	20.2
6	132	–59.7	177.7	–78.3	–12.9	–0.4	34	8.0	38.6	–5.3	4.5	19.1
7	80	–37.9	135.0	–47.0	–6.6	1.7	14	5.2	22.2	–11.0	2.1	20.8
8	36	–44.3	126.0	–58.2	–6.8	1.3	6	6.4	12.7	–5.2	4.1	14.3
9	23	–3.8	106.1	–13.0	–3.0	3.8	2	–11.5	54	–	–	–
10	9	–117.7	407.4	–17.6	–6.7	45.6
11	5	–48.8	102.9	–17.3	–5.7	–3.0
Total assets
1	334	251.8	288.7	43.6	131.5	415.5	80	318.0	402.2	93.0	223.7	394.5
2	324	328.4	398.3	41.1	183.6	479.8	80	501.6	1108.4	112.8	264.1	398.0
3	293	399.3	608.7	51.7	233.0	527.4	72	442.3	625.6	81.9	263.9	501.4
4	248	484.9	804.7	67.0	270.7	574.7	57	528.0	807.0	134.3	281.4	440.1
5	200	609.9	1518.8	92.2	291.5	719.5	47	440.2	666.7	102.2	243.0	451.8
6	132	496.4	631.7	94.9	315.0	713.6	34	423.7	619.8	92.8	238.9	482.6
7	80	439.3	481.4	90.6	292.7	600.0	14	322.5	359.4	44.3	312.2	426.4
8	36	526.3	464.5	178.5	430.4	833.7	6	239.1	171.8	40.4	272.8	347.6
9	23	634.8	706.9	163.7	450.4	869.0	2	358.4	161.1	–	–	–
10	9	735.1	518.7	295.4	631.1	902.7
11	5	556.7	431.2	216.0	502.5	880.2

Note:

Values are in million Hungarian Forint (HUF) except for number of employees

Source: Author’s own compilation

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