| A: undervalued (Mis < 0) | ||||||
| Variable | Observation | Mean | Std | Min | Med | Max |
| INV | 3981 | 0.0800 | 0.130 | −0.250 | 0.0500 | 0.860 |
| Mis | 3981 | −0.430 | 1.370 | −69.95 | −0.240 | 0 |
| Size | 3981 | 21.87 | 1.520 | 19.11 | 21.48 | 25.63 |
| LEV | 3981 | 0.330 | 0.220 | 0.0500 | 0.280 | 1.120 |
| CF | 3979 | 0.100 | 0.210 | −1.100 | 0.0900 | 0.760 |
| CASH | 3875 | 0.280 | 0.210 | 0.0100 | 0.240 | 0.930 |
| ACCVO | 3981 | 0.0100 | 0.0200 | 0 | 0.0100 | 0.190 |
| ROE | 3981 | 0.0600 | 0.100 | −0.660 | 0.0700 | 0.460 |
| Growth | 3976 | 0.190 | 0.440 | −0.610 | 0.130 | 3.570 |
| lnage | 3981 | 1.850 | 0.800 | 0.690 | 1.950 | 3.180 |
| Firsthold | 3981 | 37.99 | 15.99 | 8.940 | 36.72 | 75.25 |
| B: overvalued (Mis > 0) | ||||||
| Variable | Observation | Mean | Std | Min | Med | Max |
| INV | 6796 | 0.0700 | 0.140 | −0.250 | 0.0400 | 0.860 |
| Mis | 6749 | 0.240 | 0.190 | 0 | 0.210 | 2.090 |
| Size | 8039 | 21.75 | 1.110 | 19.11 | 21.70 | 25.63 |
| LEV | 8039 | 0.550 | 0.180 | 0.0500 | 0.550 | 1.120 |
| CF | 8036 | 0.0600 | 0.230 | −1.100 | 0.0600 | 0.760 |
| CASH | 6679 | 0.200 | 0.160 | 0.0100 | 0.160 | 0.930 |
| ACCVO | 8039 | 0.0200 | 0.0300 | 0 | 0.0100 | 0.190 |
| ROE | 8039 | 0.0700 | 0.150 | −0.660 | 0.0800 | 0.460 |
| Growth | 8030 | 0.230 | 0.550 | −0.610 | 0.130 | 3.570 |
| lnage | 8039 | 2.240 | 0.630 | 0.690 | 2.400 | 3.180 |