Sector

Total

Excluded

Included

Full sample

% included/total listed

Sub-sample

% included/total selected

# Obs.

Includeda

Manufacturing

47

5

42

40%

89%

420

Services

77

26

51

49%

66%

510

Real estate

33

22

11

11%

33%

110

Subtotal

157

53

104

1040

Banking*

15

15

0

0

Insurance*

21

21

0

0

Subtotal

36

36

0

Total listed Firms

193

89

104

Margin of error (ME) for sample selection at the 95% confidence level

Manufacturing

ME

Services

ME

Real estate

ME

Full sample

42 of 104

11.73%

51 of 104

9.84%

11 of 104

28.08%

Sub-sample

42 of 47

4.99%

51 of 77

8.03%

11 of 33

24.50%