Variables | The overall sample | Samples with CEO turnover | Samples without CEO turnover | ||||||
Sample number | Mean | Standard deviation | Sample number | Mean | Standard deviation | Sample number | Mean | Standard deviation | |
IVOL | 8361 | 0.545 | 0.138 | 1,022 | 0.557 | 0.144 | 7339 | 0.543 | 0.137 |
INSM | 8361 | 0.872 | 0.244 | 1,022 | 0.846 | 0.266 | 7339 | 0.876 | 0.241 |
INST | 8361 | 30.69 | 24.3 | 1,022 | 26.23 | 23.33 | 7339 | 31.31 | 24.37 |
ROA | 8361 | 0.0209 | 0.0557 | 1,022 | 0.00686 | 0.0658 | 7339 | 0.0229 | 0.0538 |
BTM | 8361 | 0.448 | 0.306 | 1,022 | 0.43 | 0.31 | 7339 | 0.45 | 0.306 |
OC | 8361 | 53.95 | 15.25 | 1,022 | 54.2 | 15.38 | 7339 | 53.92 | 15.23 |
LEV | 8361 | 0.512 | 0.187 | 1,022 | 0.521 | 0.193 | 7339 | 0.51 | 0.186 |
TA | 8361 | 21.73 | 1.169 | 1,022 | 21.57 | 1.173 | 7339 | 21.75 | 1.167 |
DEV_CFO | 8361 | 18.49 | 1.209 | 1,022 | 18.38 | 1.197 | 7339 | 18.51 | 1.21 |