Table 3 Descriptive statistics of main variables.

TFP_{i, t}

3.543

11.61

8.129

IM_{i, t}

0

2.86

0.065

GTI_{i, t}

0

6.848

0

FS_{i, t}

2.996

12.57

7.664

FA_{i, t}

2

32

8

Own_{i, t}

0

1

0

Lev_{i, t}

0.007

9.699

0.412

Roa_{i, t}

-1.648

0.604

0.042

Q_{i, t}

0.684

92.3

1.64

Top10_{i, t}

8.779

101.2

59.05

Dual_{i, t}

0

1

0

Dir_{i, t}

0

19

9

Isp_{i, t}

0

1

1