Skip to main content
Future Business Journal

Table 3 Descriptive statistics

From: Corporate governance, external financing, and earnings management: new evidence from an emerging market

Variable

N

Mean

Std.Dev

Min

Max

CGS

2,604

0.3778

0.0798

0.1202

0.6647

CGS (mean-centralized)

2,604

0

0.0798

− 0.2576

0.2869

AEM

2,604

0.0240

0.1383

− 0.6474

2.8503

REM

2,604

0.3804

1.6533

− 16.9007

19.7313

EFN

2,604

0.2396

0.4269

0

1

TQ

2,604

1.1668

0.6810

0.2697

9.0450

BIG4

2,604

0.2642

0.4410

0

1

ROA

2,604

0.0635

0.0777

− 0.9960

0.7837

SIZE

2,604

27.3648

1.5143

23.4406

32.5101

DEBR

2,604

0.4929

0.2173

0.0146

1.2944

SALESGR

2,604

0.1050

0.5014

− 0.9686

9.2034

TEMAR

2,603

0.7457

0.4356

0

1

MBR

2,604

1.2343

1.0655

− 3.2722

12.6826

TEMA

2,604

0.5069

0.5000

0

1

TEMR

2,604

0.5069

0.5000

0

1

XFIN

2,604

− 0.0225

0.1281

− 0.9857

0.6912

EQUIF

2,604

− 0.0280

0.0732

− 0.9306

0.6729

DEBF

2,604

0.0055

0.1024

− 0.8615

0.6160

INS (mean-centralized)

2,604

0

0.2267

− 0.4459

0.5013

MNG (mean-centralized)

2,604

0

0.1234

− 0.0729

0.7815

INS

2,604

0.4959

0.2267

0.0500

0.9972

MNG

2,604

0.0729

0.1234

0

0.8544

EDR

2,604

0.4065

0.2063

0

1

PROF

2,604

0.0675

0.2966

− 8.4947

2.7888

  1. This table presents descriptive statistics for all variables used in the main analysis in Eqs. (9), (10), (11), (12) and (13). Our sample period is from 2010 to 2020
Back to article page