Table 2.
Descriptive statistics.
| Variables | No of Obs | Mean | Std.Dev | Min | Max |
|---|---|---|---|---|---|
| NCSKW | 4557 | 0.168 | 1.211 | −2.983 | 3.685 |
| DUVO | 4557 | 0.053 | 1.553 | −3.271 | 8.312 |
| FF1 | 4557 | 0.412 | 1.325 | 0.000 | 1.000 |
| FF2 | 4557 | 0.408 | 0.925 | 0.000 | 1.000 |
| COVID | 4557 | 0.609 | 3.312 | 0.000 | 4.062 |
| BSIZE | 4557 | 9.758 | 3.251 | 3.000 | 21.000 |
| BIND | 4557 | 0.411 | 1.357 | 0.000 | 1.000 |
| IOW | 4557 | 0.218 | 1.028 | 0.000 | 0.628 |
| ERNM | 4557 | 0.051 | 0.280 | 0.003 | 0.172 |
| ROA | 4557 | 0.013 | 0.203 | −0.466 | 0.135 |
| MTB | 4557 | 0.769 | 0.581 | 0.221 | 1.731 |
| SIGMA | 4557 | 2.123 | 1.118 | 0.257 | 4.258 |
| SIZE | 4557 | 7.758 | 1.358 | 3.589 | 11.528 |
| LEV | 4557 | 0.483 | 0.825 | 0.001 | 0.954 |
Note: The information in this table presents the statistical characteristics of all the variables. The “No of Obs” column indicates the number of observations in the complete data before applying a one-year lag. The “Mean” column represents the average value of each variable. “Std.Dev” refers to the standard deviation, while “Min” and “Max” represent the minimum and maximum values, respectively. For detailed definitions of the variables, please refer to Table 1.