Table 2.

Descriptive statistics.

Variable	Obs	Mean	St. Dev.
Lnpat	14,777	3.950	3.796
Lnino	14,777	0.764	1.082
Gfinance	14,779	0.192	0.394
Lev	14,779	0.412	0.226
Roa	14,779	0.043	0.069
Size	14,779	22.099	1.261
Q	14,764	2.139	1.957
Cr	14,779	34.765	14.695
Cash	14,779	0.061	0.525
Age	14,779	16.39	5.553
Lgdp	14,779	10.952	0.470
Lpeo	14,779	3.984	0.639