Table 2.

Summary statistics for key variables.

Variables	N	Mean	SD	P25	Median	P75
|AbnNetHire|	10,392	0.165	0.274	0.044	0.095	0.175
Postdoc	10,392	0.329	0.470	0	0	1
Insize	10,392	22.401	1.264	21.511	22.196	23.084
Lev	10,392	0.444	0.196	0.291	0.439	0.588
MB	10,392	0.611	0.246	0.417	0.605	0.798
Cfo	10,392	0.047	0.064	0.010	0.045	0.085
Age	10,392	16.763	5.386	13	17	20
Profit	10,392	0.056	0.160	0.016	0.059	0.123
ROE	10,392	0.059	0.137	0.024	0.065	0.117
Top1	10,392	0.337	0.145	0.224	0.315	0.429
DivDum	10,392	0.788	0.409	1	1	1
Vol_Nethiring	10,392	0.112	0.231	0.017	0.040	0.097
Vol_Revt	10,392	0.216	0.563	0.020	0.047	0.137
Other_invest	10,392	0.044	0.040	0.019	0.036	0.055

This table presents summary statistics for key variables in this study. The sample comprises 10,392 observations from 2,457 firms during the period 2011 to 2019.