Table 2.

Descriptive statistical results.

Variable	Obs	Mean	SD	Min	Median	Max
Input	1,248	6.019	7.167	0.019	4.289	123.019
Size	1,248	22.373	1.003	19.391	22.285	25.489
Lev	1,248	32.404	18.149	1.427	30.134	90.343
Cash	1,248	6.629	6.069	−23.774	6.231	47.063
Roe	1,248	5.985	25.270	−580.143	7.717	66.431
Growth	1,248	11.160	31.351	−65.700	9.255	503.369
Shareh10	1,248	53.478	14.898	18.850	53.003	91.927
Age	1,248	3.044	0.287	1.946	3.091	3.664