Table 3 Descriptive statistics.
From: Opportunity or opportunism? Blockchain technology adoption and corporate default risk
Variable | N | Mean | SD | Min | p25 | p50 | p75 | Max |
---|---|---|---|---|---|---|---|---|
Independent variable | ||||||||
Blockchain | 22,567 | 0.316 | 0.465 | 0.000 | 0.000 | 0.000 | 1.000 | 1.000 |
Dependent variable | ||||||||
EDP | 22,567 | 0.016 | 0.107 | 0.000 | 0.000 | 0.000 | 0.000 | 0.889 |
Control variables | ||||||||
Size | 22,567 | 22.190 | 1.259 | 19.840 | 21.300 | 22.020 | 22.890 | 26.150 |
Lev | 22,567 | 0.450 | 0.195 | 0.066 | 0.301 | 0.451 | 0.598 | 0.865 |
Roa | 22,567 | 0.048 | 0.039 | 0.002 | 0.020 | 0.039 | 0.066 | 0.195 |
Cash | 22,567 | 0.167 | 0.113 | 0.015 | 0.088 | 0.138 | 0.216 | 0.570 |
Fixed | 22,567 | 0.237 | 0.172 | 0.002 | 0.102 | 0.203 | 0.340 | 0.730 |
Growth | 22,567 | 0.002 | 0.005 | −0.005 | 0.000 | 0.001 | 0.003 | 0.038 |
Soe | 22,567 | 0.488 | 0.500 | 0.000 | 0.000 | 0.000 | 1.000 | 1.000 |
Dual | 22,567 | 0.051 | 0.078 | 0.000 | 0.000 | 0.000 | 0.092 | 0.292 |
Hold1 | 22,567 | 0.364 | 0.152 | 0.098 | 0.244 | 0.345 | 0.474 | 0.750 |
Firmage | 22,567 | 2.113 | 0.722 | 0.693 | 1.609 | 2.197 | 2.708 | 3.219 |
Other variables | ||||||||
PBTV | 22,567 | 0.001 | 0.002 | 0.000 | 0.000 | 0.000 | 0.001 | 0.008 |
Default | 22,567 | 0.064 | 0.221 | 0.000 | 0.000 | 0.000 | 0.000 | 1.099 |
Zscore | 20,580 | 0.501 | 0.207 | −0.036 | 0.367 | 0.487 | 0.623 | 1.104 |
DT | 22,567 | 0.160 | 0.137 | 0.000 | 0.036 | 0.139 | 0.252 | 0.542 |
LT | 22,567 | 0.053 | 0.082 | 0.000 | 0.000 | 0.013 | 0.073 | 0.385 |
ST | 22,567 | 0.106 | 0.104 | 0.000 | 0.014 | 0.080 | 0.168 | 0.433 |
Efficiency | 22,567 | 0.046 | 0.059 | 0.000 | 0.002 | 0.029 | 0.066 | 0.338 |
Overinvest | 22,567 | 0.023 | 0.056 | 0.000 | 0.000 | 0.000 | 0.014 | 0.337 |
Underinvest | 22,567 | 0.023 | 0.035 | 0.000 | 0.000 | 0.000 | 0.040 | 0.148 |
Change | 22,567 | 0.408 | 0.491 | 0.000 | 0.000 | 0.000 | 1.000 | 1.000 |
Sell | 22,567 | 0.310 | 0.463 | 0.000 | 0.000 | 0.000 | 1.000 | 1.000 |
Buy | 22,567 | 0.254 | 0.435 | 0.000 | 0.000 | 0.000 | 1.000 | 1.000 |
Internal_Control | 17,045 | 0.001 | 0.034 | 0.000 | 0.000 | 0.000 | 0.000 | 1.000 |