Table 1.
Descriptive statistics
| Variables | Obs | Mean | Median | SD | Variance | Min | Max | Skewness | Kurtosis | VIF | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Panel A | EADI | 494 | 0.6024 | 0.6680 | 0.136 | 0.0185 | 0.32 | 0.82 | − 0.2854 | 1.4519 | |
| EPI | 494 | 0.5908 | 0.6472 | 0.107 | 0.0114 | 0.425 | 0.76 | − 0.1911 | 1.5655 | 1.54 | |
| SIZE | 494 | 1.30E + 10 | 5.00E + 09 | 2.34E + 10 | 5.46E + 20 | 5.30E + 07 | 2.00E + 11 | 4.1061 | 25.5725 | 1.61 | |
| LEV | 494 | 7.51E + 09 | 1.92E + 09 | 1.57E + 10 | 2.47E + 20 | 1.90E + 07 | 1.20E + 11 | 3.9745 | 21.1232 | 1.58 | |
| ROE | 494 | 13 | 9.2900 | 12.7936 | 163.6759 | 0.01 | 97.43 | 2.2971 | 11.5177 | 1.03 | |
| Panel B | EADI | 152 | 0.5894 | 0.6590 | 0.1331 | 0.0177 | 0.39 | 0.76 | − 0.2771 | 1.3877 | |
| EPI | 152 | 0.589 | 0.6422 | 0.1044 | 0.0109 | 0.425 | 0.74 | − 0.1777 | 1.5730 | 1.75 | |
| SIZE | 152 | 9.75E + 09 | 2.93E + 09 | 1.90E + 10 | 3.59E + 20 | 5.90E + 07 | 1.10E + 11 | 3.4935 | 15.8897 | 1.83 | |
| LEV | 152 | 6.17E + 09 | 1.25E + 09 | 1.33E + 10 | 1.78E + 20 | 5.00E + 07 | 7.80E + 10 | 3.6588 | 17.3863 | 1.77 | |
| ROE | 152 | 9.7453 | 6.0000 | 10.9626 | 120.1778 | 0.27 | 75.39 | 2.8606 | 14.3514 | 1 | |
| Panel C | EADI | 646 | 0.5993 | 0.6680 | 0.1353 | 0.0183 | 0.32 | 0.82 | − 0.2805 | 1.4415 | |
| EPI | 646 | 0.5904 | 0.6472 | 0.1063 | 0.0113 | 0.425 | 0.76 | − 0.1877 | 1.5678 | 1.58 | |
| SIZE | 646 | 1.22E + 10 | 4.05E + 09 | 2.24E + 10 | 5.03E + 20 | 5.30E + 07 | 2.00E + 11 | 4.0659 | 25.3160 | 1.75 | |
| LEV | 646 | 7.19E + 09 | 1.71E + 09 | 1.52E + 10 | 2.31E + 20 | 1.90E + 07 | 1.20E + 11 | 3.9562 | 20.9958 | 1.61 | |
| ROE | 646 | 12.2342 | 8.6500 | 12.4558 | 155.1479 | 0.01 | 97.43 | 2.3958 | 11.9650 | 1.02 |