Average RS03

Average RS07

One-way Anova Sig.

LTDEBT

396.59982432

873.584.166

0.245769881

LTDEBT_LOG

14.39081369

16.18869374

0.01921261

ASSET

2.674.697.139.75

2.767.423.772

0.94468177

ASSET_LOG

19.51767849

20.05012726

0.020865598

LEV

246.1146269

319.7293638

0.1202009

BOARD

9.365671642

9.970149254

0.123731296

BOARD_LOG

2.183226768

2.249692923

0.092373292

NED

5.843283582

6.880597015

0.007347983

NED_PERC

60.83622146

67.30219354

0.005497154

INED

3.305970149

3.694029851

0.140965142

INED_PERC

35.16289316

37.00753263

0.380747625

BRDMEET

7.985074627

8.813432836

0.05721364

INTERLOCKS

2.171947761

2.501126866

0.184128362

AUDIT_IND

62.15223881

72.54783582

0.012765871

AUDIT_MEET

3.067164179

4.350746269

0.000190851

NOMIN_IND

4.85

5.654925373

0.737122956

COMPENS_IND

37.39626866

58.82029851

1.18992Eāˆ’06

SIND_CHARGES

1.177746269

5.892537313

7.38219Eāˆ’09

SIND_MEET

7.462686567

8.388059701

0.05379249

SHAREHLDR

49.29121642

47.81217164

0.507880519

SHARE2_NUM

4.402985075

5.432835821

0.017511732

BOWN

35.07218657

37.21070149

0.540503785

LOG_TOBIN

āˆ’0.062720526

āˆ’0.259702975

0.007942543