Table 4.

Descriptive statistics

	Average	S.D.	Median	Mín	Max	Average Comm.	Average No comm.	Test for average differences
ROA (%)	4.57	13.65	5.02	−60.52	40.18	5.07	4.15	− 1.93**
Size (Log beds)	4.21	0.87	4.30	1.38	6.83	4.46	4.00	−15.40***
Age (Log years)	2.97	0.83	3.09	0	4.76	3.04	2.91	−4.60***
Technological index	0.00	0.77	0	−1.104	3.08	0.12	−0.09	−8.18***
Leverage (%)	58.68	34.30	55.12	0	216.2	60.43	57.24	−2.65***
Tangibility (%)	42.21	24.87	41.57	0	100.0	43.70	40.97	−3.13***
Bed number	95.79	91.72	74	4	931.0	113	82	−9.57***

**, ***: significant to 5 and 1%, respectively

Comm = commissioning hospitals

Source: Own elaboration