Table 1 Sample selection Private firms...

Table 1

Sample selection

Private firms in prowess database¹	42,313
Financial firms	(4,095)
Govt owned, regulated industries and subsidiaries of foreign firms	(10,623)
Firms having missing annual report data during the entire sample period	(1,801)
Total number of unique firms	25,794
Private firm observations used in the regression analysis	55,123 to 66,823

Note(s): ¹We also removed unlisted govt-joint sector firms, cooperative firms, non-profit trusts from our sample. The sample period is 2012–2023

Source(s): Table created by authors'

Sharing Unavailable