Table 2.

Descriptive statistics.

Variables	n	Mean	Std.	Min.	P25	Median	P75	Max
SI	1,120	1.1887	1.3357	0.0000	0.0000	1.0986	1.7918	8.9200
CSR	1,120	24.1764	16.9059	−11.7700	15.3025	19.8650	26.4050	85.7700
ENVIR	1,120	0.4610	0.1120	0.2200	0.3833	0.4510	0.5445	0.7500
SIZE	1,120	22.6404	1.6479	18.7600	21.3852	22.4373	23.7027	28.6400
PB	1,120	2.9944	4.8248	0.0000	1.3146	2.0409	3.2542	78.3400
LEV	1,120	0.4721	0.2007	0.0100	0.3159	0.4734	0.6078	2.2900
ROA	1,120	0.0441	0.1453	−3.1500	0.0143	0.0409	0.0826	1.1300
AGE	1,120	3.0943	0.2124	2.0800	2.9957	3.0910	3.2189	3.7600
CASH	1,120	0.0455	0.6434	−7.7700	−0.0168	0.0072	0.0452	17.5900
SOE	1,120	0.4375	0.4963	0.0000	0.0000	0.0000	1.0000	1.0000
MSH	1,120	0.0965	0.1608	0.0000	0.0000	0.0020	0.1364	0.9600
INDEP	1,120	0.3743	0.0553	0.2300	0.3333	0.3333	0.4286	0.6700
DUAL	1,120	0.2357	0.4246	0.0000	0.0000	0.0000	0.0000	1.0000