Table 1 Descriptive statistics

Dependent variables (Firm performance)

Return on Asset

.057744

.0533432

−.1735858

.2275309

Tobin’s Q

2.739432

1.772316

.884476

10.06002

Independent (CG) variables

Independent board

.3739679

.0535505

.3333333

.5714286

Dual leadership

.2897542

.4536677

0

1

Ownership concentration

58.54636

14.9478

22.5897

90.2627

Product market concentration

.0580452

.092206

.0084798

.4052926

Debt financing

.3986051

.2017631

.0488051

.8691791

Interaction variable

Managerial overconfidence

.5893932

.4919651

0

1

Control variables

Firm size

22.04965

1.217836

19.92883

25.97107

Firm age

8.864106

5.7934684

2.079442

27.526361

Growth opportunity

.098404

.2327094

−.8339386

.7059863