- Descriptive statistics
| Variable | Obs | Mean | Std. Dev | Min | Max |
|---|---|---|---|---|---|
| Intangibles | |||||
| R&D | 1,341 | 3.67 | 8.35 | 0 | 96 |
| Organ. Capital | 1,341 | 1.18 | 2.85 | 0 | 30 |
| Training | 1,341 | 1.57 | 3.60 | 0 | 53 |
| Software | 1,341 | 1.47 | 3.90 | 0 | 55 |
| Brand | 1,341 | 0.94 | 2.60 | 0 | 30 |
| Design | 1,341 | 1.10 | 4.77 | 0 | 90 |
| SA | |||||
| Q36_2 | 1,334 | 3.64 | 1.05 | 1 | 5 |
| Q36_5 | 1,340 | 3.76 | 0.95 | 1 | 5 |
| Q36_6 | 1,340 | 3.74 | 0.86 | 1 | 5 |
| Other variables | |||||
| Conversion Ratio | 1,308 | 2.61 | 1.21 | 1 | 5 |
| Turnover in 2019 | 1,338 | 50300 | 235000 | 8.06 | 7400000 |
| Δ Turnover in 2020 | 1,327 | −7.71 | 23.94 | −100 | 300 |
| Firm size | 1,341 | 195.84 | 567.22 | 20 | 11696 |
| Variable | Obs | Mean | Std. Dev | Min | Max |
|---|---|---|---|---|---|
| R&D | 1,341 | 3.67 | 8.35 | 0 | 96 |
| Organ. Capital | 1,341 | 1.18 | 2.85 | 0 | 30 |
| Training | 1,341 | 1.57 | 3.60 | 0 | 53 |
| Software | 1,341 | 1.47 | 3.90 | 0 | 55 |
| Brand | 1,341 | 0.94 | 2.60 | 0 | 30 |
| Design | 1,341 | 1.10 | 4.77 | 0 | 90 |
| Q36_2 | 1,334 | 3.64 | 1.05 | 1 | 5 |
| Q36_5 | 1,340 | 3.76 | 0.95 | 1 | 5 |
| Q36_6 | 1,340 | 3.74 | 0.86 | 1 | 5 |
| Conversion Ratio | 1,308 | 2.61 | 1.21 | 1 | 5 |
| Turnover in 2019 | 1,338 | 50300 | 235000 | 8.06 | 7400000 |
| Δ Turnover in 2020 | 1,327 | −7.71 | 23.94 | −100 | 300 |
| Firm size | 1,341 | 195.84 | 567.22 | 20 | 11696 |
Note(s): Intangible variables are expressed as % of turnover. Firms that declared a total investment in intangibles (sum of the first six variables) greater than 100 have been cut from the sample (a total of ∼300 observations). Questions Q36_2-5-6 are expressed on a five-point Likert scale. We refer to Table 2 for their full text. Turnover in 2019 is expressed in thousand euros, while 2020 turnover changes as % change with respect to 2019. The firm size variable measures the total number of employees of the company
Source(s): Own elaboration