| N | % | |
| Extracted firms from Orbis | 14296 | 100.00 |
| − Firms with missing values in time series | 3192 | 22.33 |
| − Firms with changes in length of accounting period | 1535 | 10.74 |
| − Active firms in insolvency proceedings | 8 | 0.06 |
| − Dissolved firms | 302 | 2.11 |
| − Dissolved (merger or take-over) firms | 6 | 0.04 |
| − Firms In liquidation | 12 | 0.08 |
| Final sample | 9241 | 64.64 |
| Active firms | 9160 | 99.12 |
| +Bankruptcy firms | 81 | 0.88 |
| Final sample | 9241 | 100.00 |