Table 2 Summary statistics and... | Emerald Publishing

Table 2

Summary statistics and correlation matrix

Variables	${l n X}_{i, t}$	${l n M}_{i, t}$	${l n T}_{1, i, t}$	${l n T}_{2, i, t}$	${l n T}_{3, i, t}$	${l n Y}_{i, t}$	${l n F}_{i, t}$	${l n R}_{i, t}$
Panel A descriptive statistics
Obs	280	280	280	280	280	280	280	280
Mean	12.2524	13.8265	1.1239	1.7825	−1.3034	26.2487	4.0911	4.8652
Std. Dev	2.47066	1.93973	2.7927	3.4095	1.0586	0.6724	0.0088	0.8383
Min	6.08678	2.77259	−4.7293	−4.4215	−3.1149	24.8033	4.0679	3.0858
Max	18.5942	16.8587	4.1230	4.6219	0.1566	27.0762	4.1014	6.0544
Panel B correlation matrix
${l n X}_{i, t}$	1
${l n M}_{i, t}$	0.4737	1
${l n T}_{1, i, t}$	0.2973	0.3754	1
${l n T}_{2, i, t}$	0.2921	0.3633	0.9831	1
${l n T}_{3, i, t}$	−0.1785	−0.2163	−0.5086	−0.385	1
${l n Y}_{i, t}$	0.3021	0.3671	0.799	0.7734	−0.5615	1
${l n F}_{i, t}$	−0.1334	−0.1655	−0.499	−0.3764	0.913	−0.4154	1
${l n R}_{i, t}$	0.223	0.2931	0.8778	0.835	−0.5608	0.4676	−0.6304	1

Variables	${l n X}_{i, t}$	${l n M}_{i, t}$	${l n T}_{1, i, t}$	${l n T}_{2, i, t}$	${l n T}_{3, i, t}$	${l n Y}_{i, t}$	${l n F}_{i, t}$	${l n R}_{i, t}$
Panel A descriptive statistics
Obs	280	280	280	280	280	280	280	280
Mean	12.2524	13.8265	1.1239	1.7825	−1.3034	26.2487	4.0911	4.8652
Std. Dev	2.47066	1.93973	2.7927	3.4095	1.0586	0.6724	0.0088	0.8383
Min	6.08678	2.77259	−4.7293	−4.4215	−3.1149	24.8033	4.0679	3.0858
Max	18.5942	16.8587	4.1230	4.6219	0.1566	27.0762	4.1014	6.0544
Panel B correlation matrix
${l n X}_{i, t}$	1
${l n M}_{i, t}$	0.4737	1
${l n T}_{1, i, t}$	0.2973	0.3754	1
${l n T}_{2, i, t}$	0.2921	0.3633	0.9831	1
${l n T}_{3, i, t}$	−0.1785	−0.2163	−0.5086	−0.385	1
${l n Y}_{i, t}$	0.3021	0.3671	0.799	0.7734	−0.5615	1
${l n F}_{i, t}$	−0.1334	−0.1655	−0.499	−0.3764	0.913	−0.4154	1
${l n R}_{i, t}$	0.223	0.2931	0.8778	0.835	−0.5608	0.4676	−0.6304	1

Source(s): Author's computation