Table 2 Descriptive statistics.
From: Governance or collusion? The M&A effects of common institutional ownership
Variables | N | Mean | SD | Median | Min | Max |
|---|---|---|---|---|---|---|
MA | 37525 | 0.466 | 0.499 | 0.000 | 0.000 | 1.000 |
CAR | 6976 | 0.009 | 0.099 | −0.001 | −0.271 | 0.391 |
ΔROA | 6976 | −0.018 | 0.158 | −0.007 | −5.030 | 0.799 |
Cross | 37525 | 0.293 | 0.906 | 0.000 | 0.000 | 4.142 |
Size | 37525 | 22.333 | 1.413 | 22.098 | 19.927 | 27.269 |
Roa | 37525 | 0.039 | 0.057 | 0.037 | −0.223 | 0.192 |
Lev | 37525 | 0.438 | 0.209 | 0.432 | 0.051 | 0.880 |
Balance | 37525 | 0.722 | 0.607 | 0.550 | 0.029 | 2.824 |
Cash | 37525 | 0.160 | 0.123 | 0.126 | 0.011 | 0.654 |
Growth | 37525 | 0.205 | 0.424 | 0.132 | −0.540 | 2.667 |
BM | 37525 | 0.553 | 0.271 | 0.520 | 0.087 | 1.173 |
Board | 37525 | 2.133 | 0.198 | 2.197 | 1.609 | 2.708 |
Indboard | 37525 | 0.375 | 0.053 | 0.333 | 0.333 | 0.571 |
Institution | 37525 | 46.214 | 25.176 | 48.062 | 0.377 | 94.490 |
Top1 | 37525 | 34.588 | 14.883 | 32.790 | 8.735 | 74.570 |
Dual | 37525 | 0.275 | 0.447 | 0.000 | 0.000 | 1.000 |
Soe | 37525 | 0.369 | 0.483 | 0.000 | 0.000 | 1.000 |
