Variables

Mean

Median

STD

Minimum

Maximum

Panel A: Independent (Corporate governance) variable based on all firms year observations

IO

0.167

0.1275

0.122

0.0500

1.000

Panel B: Dependent Variables

COC

0.167

0.152

0.271

0.012487

2.131678

Panel C: Control Variables

SG

0.0797

0.0453

0.1796

−0.4341

2.4190

FS

4.2747

4.2135

0.6193

2.4738

6.1257

LVG

0.6135

0.6253

0.1786

0.0263

1.2571

CORR IDX

1.871

1.893

0.087

1.61

1.98

INFL

−1.621

−1.67

0.650

−2.73

0.0

GDPC

4.968

4.88

0.080

4.462

4.94