Table 4

Descriptive statistics

VariableMeanStd. dev.MinMax
ROA0.2120.172−0.9641.22
MAC3.9520.5972.5525.875
Firm Size3.4830.6121.9885.112
Asset turnover1.3420.9990.0327.943
Leverage0.3980.822011.43
AC independence0.7880.40901
AC expertise0.850.35801
AC gender0.4530.49801
AC size0.7020.45801
AC NED0.6690.47101

Source(s): Authors' computation

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