The Official Journal of the Pan-Pacific Association of Input-Output Studies (PAPAIOS)
Table 1 Descriptive statistics: dependent and independent variables (Italy, 2014–2016)
From: Legal environment and corporate finance: evidence from the Italian manufacturing industry
Variable | Explanation | Obs | Mean | Std. Dev | Min | Max |
|---|---|---|---|---|---|---|
DEBTt | Debt ratiot | 220,729 | 0.734 | 0.288 | 0.000 | 1.000 |
FINt | Financial expensest ψ | 215,509 | 2.579 | 1.595 | 0.000 | 6.907 |
Mortgage foreclosure (real estate)t-1 ψ | 160,273 | 7.044 | 0.337 | 6.041 | 8.482 | |
JUDt-1 | Mortgage foreclosure (movable)t-1 ψ | 160,273 | 5.252 | 0.401 | 3.804 | 6.541 |
Bankruptcyt-1 ψ | 160,273 | 7.699 | 0.419 | 4.875 | 8.889 | |
LIQt | Liquidityt | 258,469 | 43.553 | 140.597 | − 534.609 | 1642.681 |
AGEt | Aget ψ | 258,469 | 2.556 | 1.025 | 0.000 | 4.963 |
Large companyt | 258,469 | 0.453 | 0.498 | 0.000 | 1.000 | |
SIZEt | Medium companyt | 258,469 | 0.096 | 0.295 | 0.000 | 1.000 |
Small companyt | 258,469 | 0.451 | 0.498 | 0.000 | 1.000 | |
North Eastt | 258,469 | 0.290 | 0.454 | 0.000 | 1.000 | |
North Westt | 258,469 | 0.362 | 0.481 | 0.000 | 1.000 | |
AREAt | Centert | 258,469 | 0.186 | 0.389 | 0.000 | 1.000 |
Southt | 258,469 | 0.126 | 0.332 | 0.000 | 1.000 | |
Islandst | 258,469 | 0.036 | 0.185 | 0.000 | 1.000 | |
Public limited companyt | 258,468 | 0.086 | 0.281 | 0.000 | 1.000 | |
FORMt | Private limited companyt | 258,468 | 0.888 | 0.315 | 0.000 | 1.000 |
Other legal formt | 258,468 | 0.026 | 0.158 | 0.000 | 1.000 | |
InnStUpt | Innovative start-upt | 258,469 | 0.002 | 0.049 | 0.000 | 1.000 |
InnSMEt | Innovative SMEt | 258,469 | 0.002 | 0.042 | 0.000 | 1.000 |