| Variables | N | Mean | Median | STD | Q1 | Q3 |
| A. Foreign institutional ownership |
|
|
|
|
|
|
| FIOC (%) | 21,092 | 0.56 | 0.09 | 1.92 | 0.03 | 0.27 |
| FIOL (%) | 21,089 | 10.04 | 3.56 | 15.39 | 0.45 | 12.10 |
| B. Stock price crash risk |
|
|
|
|
|
|
| NCSKEW | 21,228 | −0.42 | −0.36 | 0.79 | −0.83 | 0.06 |
| DUVOL | 21,228 | −0.32 | −0.30 | 0.52 | −0.65 | 0.02 |
| C. Agency problem |
|
|
|
|
|
|
| DEV | 21,078 | 3.24 | 1.08 | 34.19 | 1.01 | 1.41 |
| ECR (%) | 21,237 | 16.98 | 15.59 | 14.84 | 5.53 | 26.80 |
| D. Other external monitoring |
|
|
|
|
|
|
| Analyst | 21,237 | 5.40 | 4.00 | 4.88 | 2.00 | 8.00 |
| Media | 21,237 | 33.03 | 24.00 | 37.30 | 17.00 | 36.00 |
| Big4 | 21,100 | 0.52 | 1.00 | 0.50 | 0.00 | 1.00 |
| E. Other controls |
|
|
|
|
|
|
| Cap (NT$ b) | 21,192 | 16.65 | 2.80 | 151.67 | 1.20 | 7.58 |
| MB | 21,232 | 1.92 | 1.39 | 3.51 | 0.94 | 2.15 |