Table 1 Descriptive statistics of all individual level variables
Variable | Time | % | N | Variable | Time | % | N |
|---|---|---|---|---|---|---|---|
Interlocking directorate relations | 00–10 | .77 | 11172 | East China | 99–09 | .39 | 11172 |
Largest shareholder | 99–09 | .62 | 11172 | Central South | 99–09 | .23 | 11172 |
State control | 03–09 | .66 | 7974 | Southwest | 99–09 | .10 | 11172 |
Central government control | 03–09 | .09 | 6074 | Northwest | 99–09 | .06 | 11172 |
Provincial government control | 03–09 | .21 | 6074 | Real estate | 99–09 | .07 | 11172 |
City government control | 03–09 | .20 | 6074 | Industrial manufacture | 99–09 | .58 | 11172 |
County government control | 03–09 | .04 | 6074 | Public services | 99–09 | .09 | 11172 |
Nongovernment control | 03–09 | .47 | 6074 | Finance | 99–09 | .01 | 11172 |
North China | 99–09 | .14 | 11172 | Commerce | 99–09 | .08 | 11172 |
Northeast | 99–09 | .08 | 11172 | Hybrid business | 99–09 | .17 | 11172 |
Variable | Time | Mean | SD | Min | Max | N | |
Total assets (log) | 99–09 | 21.34 | 1.13 | 14.94 | 29.91 | 11172 | |
Age | 99–09 | 10.08 | 4.38 | 1 | 28 | 11172 | |
Debt-to-Asset ratio | 99–09 | .46 | 0.18 | 0 | 1.00 | 11172 | |
ROE | 99–09 | .13 | 1.76 | −.10 | 159.90 | 11172 | |