Table 2 Descriptive statistics.
Variables | Obs. | Mean | Median | Std. dev. | Max | Min |
|---|---|---|---|---|---|---|
INVEFF | 19,780 | 0.039 | 0.030 | 0.039 | 0.229 | 0.001 |
OVER | 6869 | 0.057 | 0.036 | 0.063 | 0.454 | 0.000 |
UNDER | 12,911 | 0.031 | 0.029 | 0.020 | 0.148 | 0.000 |
DWF | 19,780 | 2.069 | 2.184 | 0.661 | 3.086 | 0.545 |
Size | 19,780 | 22.287 | 22.116 | 1.282 | 26.190 | 19.852 |
Lev | 19,780 | 0.442 | 0.436 | 0.207 | 0.910 | 0.059 |
ROA | 19,780 | 0.036 | 0.035 | 0.063 | 0.208 | −0.253 |
Top1 | 19,780 | 0.343 | 0.322 | 0.149 | 0.743 | 0.085 |
Board | 19,780 | 2.136 | 2.197 | 0.199 | 2.708 | 1.609 |
Comnum | 19,780 | 3.877 | 4.000 | 0.407 | 4.000 | 0.000 |
State | 19,780 | 0.381 | 0.000 | 0.486 | 1.000 | 0.000 |
Age | 19,780 | 2.293 | 2.398 | 0.656 | 3.258 | 1.099 |
Cash | 19,780 | 0.237 | 0.164 | 0.229 | 1.362 | 0.016 |
Ret | 19,780 | 0.107 | −0.003 | 0.495 | 2.091 | −0.582 |
PPE | 19,780 | 0.219 | 0.185 | 0.164 | 0.708 | 0.002 |
