Table 2.

Descriptive statistical analysis.

Variable	Mean	Std.Dev	Min	Max
GP	0.972	1.25	0	7.386
GI	0.662	1.042	0	7.231
GUMI	0.663	1.007	0	6.443
PGP	0.103	0.179	0	1
PGI	0.105	0.203	0	1
PGUMI	0.084	0.167	0	1
DDD	0.066	0.249	0	1
DD	0.347	0.476	0	1
Treat	0.078	0.269	0	1
Periods	0.066	0.249	0	1
Group	0.257	0.437	0	1
Treat	0.411	0.492	0	1
Period	0.347	0.476	0	1
LnAssets	22.189	1.278	15.577	28.253
Leverage	0.423	0.208	0.008	1.758
ROA	0.038	0.076	−1.859	0.675
ROE	0.05	0.365	−29.144	1.751
ATO	0.656	0.545	0.003	12.373
Cash	0.042	0.077	−1.938	0.661
Growth	9.205	1093.218	− 0.985	134607.06
BM	1.017	1.208	0.003	18.49
Q	2.184	3.204	0.153	259.146
SOE	0.332	0.471	0	1
LnAge	2.841	0.346	1.099	3.951
CI	30.105	22.171	0	100
SI	34.71	20.351	0	100