Table 2 Descriptive statistics Variable...

Table 2

Descriptive statistics

Variable	n	Mean	Median	SD	25%	75%
Panel A: standalone firm sample
ABSDTA	60,776	0.085	0.054	0.095	0.024	0.108
ABSWCA	50,141	0.104	0.063	0.124	0.027	0.130
Capneed	61,812	12.798	0.000	226.163	−19.842	5.060
Size	61,973	6.691	6.709	1.646	5.629	7.804
ROE	61,973	7.441	8.170	28.558	1.370	17.970
Loss	61,973	9.891	6.667	13.883	0.000	13.333
Std_ROA	61,973	31.549	22.410	52.825	3.770	54.670
Lev	61,973	0.262	0.238	0.223	0.043	0.427
Growth	61,973	0.142	0.071	0.750	−0.022	0.200
Inv	61,973	0.178	0.144	0.171	0.026	0.269
Panel B: subsidiary firm sample
ABSDTA	6,283	0.098	0.061	0.108	0.027	0.126
ABSWCA	5,198	0.120	0.070	0.147	0.028	0.149
Capneed	6,607	28.115	0.000	289.325	−9.461	2.538
Size	6,733	6.806	6.818	1.857	5.615	8.109
ROE	6,733	1.621	5.340	38.254	−4.700	17.710
Loss	6,733	18.836	13.333	17.853	0.000	33.333
Std_ROA	6,733	19.994	13.030	66.785	−11.810	49.800
Lev	6,733	0.226	0.156	0.239	0.000	0.386
Growth	6,733	0.201	0.054	1.762	−0.034	0.199
Inv	6,733	0.105	0.032	0.150	0.000	0.167

Variable	n	Mean	Median	SD	25%	75%
Panel A: standalone firm sample
ABSDTA	60,776	0.085	0.054	0.095	0.024	0.108
ABSWCA	50,141	0.104	0.063	0.124	0.027	0.130
Capneed	61,812	12.798	0.000	226.163	−19.842	5.060
Size	61,973	6.691	6.709	1.646	5.629	7.804
ROE	61,973	7.441	8.170	28.558	1.370	17.970
Loss	61,973	9.891	6.667	13.883	0.000	13.333
Std_ROA	61,973	31.549	22.410	52.825	3.770	54.670
Lev	61,973	0.262	0.238	0.223	0.043	0.427
Growth	61,973	0.142	0.071	0.750	−0.022	0.200
Inv	61,973	0.178	0.144	0.171	0.026	0.269
Panel B: subsidiary firm sample
ABSDTA	6,283	0.098	0.061	0.108	0.027	0.126
ABSWCA	5,198	0.120	0.070	0.147	0.028	0.149
Capneed	6,607	28.115	0.000	289.325	−9.461	2.538
Size	6,733	6.806	6.818	1.857	5.615	8.109
ROE	6,733	1.621	5.340	38.254	−4.700	17.710
Loss	6,733	18.836	13.333	17.853	0.000	33.333
Std_ROA	6,733	19.994	13.030	66.785	−11.810	49.800
Lev	6,733	0.226	0.156	0.239	0.000	0.386
Growth	6,733	0.201	0.054	1.762	−0.034	0.199
Inv	6,733	0.105	0.032	0.150	0.000	0.167

Note(s): Please see Appendix 1 for variable definitions

Source(s): Table created by authors'

Sharing Unavailable