Table 2.
Descriptive statistics summary.
| Variables | Obs | Mean | Std. dev. | Min | Max |
|---|---|---|---|---|---|
| FD | 1970 | 0.502 | 0.500 | 0.000 | 1.000 |
| CL | 1970 | 3.568 | 1.255 | −2.210 | 5.933 |
| ESG | 1970 | 3.305 | 0.584 | 1.386 | 4.466 |
| SIZE | 1970 | 9.839 | 1.420 | 5.280 | 15.04 |
| LEV | 1970 | 0.716 | 1.034 | −2.618 | 4.534 |
| AGE | 1970 | 4.098 | 0.750 | 0.000 | 5.464 |
| ROA | 1970 | −3.155 | 1.004 | −7.706 | −1.000 |
| COV | 1970 | 0.200 | 0.400 | 0.000 | 1.000 |
| SEC | 1970 | 0.152 | 0.359 | 0.000 | 1.000 |
Note: The variables include financial distress (FD), environmental, social, and governance (ESG), cost leadership (CL), firm size (SIZE), firm leverage (LEV), firm age (AGE), return on assets (ROA), coronavirus crisis (COV), and sector classification (SEC).