Variable

Obs

Mean

Std. Dev.

Min

Max

R&D

3570

0.0228

0.0237

0

0.1621

Sub

3570

0.0059

0.0072

0

0.0551

IF

3570

0.0559

0.0860

−0.3092

0.4085

Debt

3570

0.0347

0.1119

−0.2432

0.6771

Equity

3570

0.0942

0.2846

−0.0691

2.5578

Size

3570

21.7014

0.8645

18.9999

25.7005

Age

3570

16.4893

4.4208

6

36

Con

3570

0.3368

0.1453

0.0415

0.9336

ROE

3570

0.0710

0.0985

−0.4484

0.4325

LEV

3570

0.3808

0.1847

0.0359

0.9249