Table 2 Summary of statistics of key variables
Variables | Obs. | Average | SD | Min | Max |
|---|---|---|---|---|---|
ROE | 1607 | 0.424 | 1.407 | 0 | 26.75 |
ROE (log) | 1607 | −2.151 | 1.55 | −8.78 | 3.287 |
Total assets (10,000) | 1607 | 2791.747 | 9091.0.236 | 2 | 205,000 |
Total assets (log) | 1607 | 6.319 | 1.879 | 0.693 | 12.231 |
Enterprise size | 1607 | 207.512 | 573.863 | 2 | 12,000 |
Enterprise size (log) | 1607 | 4.142 | 1.515 | 0.693 | 9.393 |
Financial leverage | 1607 | 0.240 | 0.262 | 0 | 0.993 |
Enterprise age (year) | 1607 | 7.828 | 4.782 | 1 | 27 |
Management size | 1607 | 0.163 | 0.105 | 0.01 | 0.5 |
Industry | |||||
Agriculture and mining | 1607 | 0.090 | 0.286 | 0 | 1 |
Manufacture and power | 1607 | 0.496 | 0.500 | 0 | 1 |
Construction and transportation | 1607 | 0.094 | 0.292 | 0 | 1 |
Information, finance, and real estate | 1607 | 0.063 | 0.244 | 0 | 1 |
Sales | 1607 | 0.166 | 0.372 | 0 | 1 |
Male | 1607 | 0.856 | 0.351 | 0 | 1 |
Age | 1607 | 44.803 | 8.234 | 18 | 79 |
Education level (year) | 1607 | 14.210 | 2.799 | 6 | 19 |
CCP membership | 1607 | 0.366 | 0.482 | 0 | 1 |