TABLE 2.
Descriptive statistics.
| Variable | Obs | Mean | SD | Min | Max |
| CSSR | 1603 | 0.6007006 | 0.1178094 | 0.2307692 | 0.9230769 |
| INDIR | 1603 | 3.771678 | 1.214877 | 2 | 13 |
| EPS | 1601 | 0.3041771 | 0.8210663 | −6.859921 | 17.53427 |
| ROA | 1602 | 0.0952036 | 2.735636 | −6.776046 | 108.3657 |
| ROI | 1599 | 0.2689851 | 0.669638 | −0.561306 | 11.85493 |
| Leverage | 1601 | 0.5408962 | 0.5428913 | 0.01561 | 11.50969 |
| CCEO | 1592 | 0.1011307 | 0.3015964 | 0 | 1 |
| AGE | 1592 | 0.0477387 | 0.2132798 | 0 | 1 |
| LNTA | 1601 | 22.30435 | 1.438454 | 14.94164 | 28.55011 |
| FSZ | 1601 | 7.698642 | 1.473436 | 1.609438 | 11.47645 |
| Dual | 1573 | 0.1862683 | 0.3894468 | 0 | 1 |
| Fage | 1603 | 15.80848 | 4.084944 | 0 | 27 |
| SOE | 1603 | 0.5046787 | 0.5001341 | 0 | 1 |
Table 2 gives the descriptive statistics of the different variables. “Fage” represents firm age whereas “FSZ” indicates firm size. The descriptive statistics also witness that all variables have a relatively low standard deviation.