Table 3.

Descriptive statistics.

Variables	Observations	Mean	Std. Deviation	Min	Max
Amihud	2,485	0.00153	0.00868	1.11e-09	0.189
Zero	2,485	0.100	0.133	0	0.944
Amivest	2,394	1.005e+09	9.991e+09	0	4.363e+11
LM	2,423	17.83	157.3	1.11e-07	297
B_Size	2,465	2.066	0.166	1.609	3.045
B_Indepeendce	2,465	0.175	0.188	0	1
B_Meeting	2,407	1.639	0.316	0	3.497
B_Diversity	2,465	0.0945	0.139	0	1
CEO_Duality	2,466	0.172	0.377	0	1
Board_Index	2,407	−7.75e-09	1.000	−0.674	6.540
Audit_Size	2,463	1.195	0.179	0.693	2.079
Audit_Meeting	2,428	1.421	0.124	0	2.485
Audit_Indep	2,463	0.164	0.182	0	1
Big_4	2,466	0.451	0.498	0	1
Audit_Index	2,426	5.28e-09	1.000	−0.907	1.102
Inst_Own	2,462	0.106	0.128	0	0.895
CG_Index	2,389	1.15e-08	1.000	−2.747	5.886
Loss_Avoid	2,525	0.139	0.346	0	1
E_Aggres	2,177	0.0526	0.318	−0.858	8.408

Source: Author’s Calculation (2020)