Table 2 Descriptive statistics and...

Table 2

Descriptive statistics and correlation matrix


Panel A – Descriptive statistics
Variables	N	Mean		SD		p25		P50		p75
Current ETR	1,466	0.31		0.24		0.15		0.29		0.39
Deferred ETR	1,466	0.04		0.12		0.00		0.00		0.05
GAAP ETR	1,466	0.32		0.23		0.20		0.30		0.39
ESG score	245	11.95		28.08		0.00		0.00		78.00
Size	1,466	10.06		1.94		8.81		10.74		12.79
ROA	1,466	0.06		0.06		0.01		0.05		0.09
Growth	1,466	0.14		0.57		−0.03		0.04		0.15
ROA volatility	1,466	2.50		3.43		0.51		1.31		3.01
Leverage	1,466	0.14		0.18		0.00		0.07		0.21
Intangibles	1,466	0.07		0.13		0.00		0.01		0.05
Listed	1,466	0.16		0.37		0		0		0
Panel B – Correlation matrix
	(1)	(2)	(3)	(4)	(5)	(6)	(7)	(8)	(9)	(10)	(11)
(1) Current ETR	1.00
(2) Deferred ETR	−0.10*	1.00
(3) GAAP ETR	0.78*	0.34*	1.00
(4) ESG score	0.10*	0.06	0.09*	1.00
(5) Size	−0.25*	0.03	−0.32*	−0.52*	1.00
(6) ROA	−0.00	−0.07*	0.04	−0.08*	−0.20*	1.00
(7) Growth	−0.04	−0.04*	−0.05*	0.04	−0.03	−0.00	1.00
(8) ROA volatility	−0.01	0.00	0.03	0.02	−0.18*	0.37*	0.13*	1.00
(9) Leverage	0.04	−0.01	0.03	0.01	−0.00	−0.00	0.03	0.04	1.00
(10) Intangibles	0.03	−0.00	0.03	0.01	0.01	0.01	−0.00	0.07*	0.04	1.00
(11) Listed	−0.26*	−0.01	−0.30*	0.03	0.41*	−0.21*	0.07*	−0.07*	−0.07	−0.01	1.00


Panel A – Descriptive statistics
Variables	N	Mean		SD		p25		P50		p75
Current ETR	1,466	0.31		0.24		0.15		0.29		0.39
Deferred ETR	1,466	0.04		0.12		0.00		0.00		0.05
GAAP ETR	1,466	0.32		0.23		0.20		0.30		0.39
ESG score	245	11.95		28.08		0.00		0.00		78.00
Size	1,466	10.06		1.94		8.81		10.74		12.79
ROA	1,466	0.06		0.06		0.01		0.05		0.09
Growth	1,466	0.14		0.57		−0.03		0.04		0.15
ROA volatility	1,466	2.50		3.43		0.51		1.31		3.01
Leverage	1,466	0.14		0.18		0.00		0.07		0.21
Intangibles	1,466	0.07		0.13		0.00		0.01		0.05
Listed	1,466	0.16		0.37		0		0		0
Panel B – Correlation matrix
	(1)	(2)	(3)	(4)	(5)	(6)	(7)	(8)	(9)	(10)	(11)
(1) Current ETR	1.00
(2) Deferred ETR	−0.10*	1.00
(3) GAAP ETR	0.78*	0.34*	1.00
(4) ESG score	0.10*	0.06	0.09*	1.00
(5) Size	−0.25*	0.03	−0.32*	−0.52*	1.00
(6) ROA	−0.00	−0.07*	0.04	−0.08*	−0.20*	1.00
(7) Growth	−0.04	−0.04*	−0.05*	0.04	−0.03	−0.00	1.00
(8) ROA volatility	−0.01	0.00	0.03	0.02	−0.18*	0.37*	0.13*	1.00
(9) Leverage	0.04	−0.01	0.03	0.01	−0.00	−0.00	0.03	0.04	1.00
(10) Intangibles	0.03	−0.00	0.03	0.01	0.01	0.01	−0.00	0.07*	0.04	1.00
(11) Listed	−0.26*	−0.01	−0.30*	0.03	0.41*	−0.21*	0.07*	−0.07*	−0.07	−0.01	1.00

Note(s): Panel A reports descriptive statistics of the main and control variables used in the analyses. All continuous variables are winsorised at 1% and 99% levels. Panel B presents Pearson’s correlation table. * indicates significance at 5%

Source(s): Authors’ own work

[ViewLarge]

Sharing Unavailable