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Table 1 Descriptive statistics

From: Major government customer and management earnings forecasts

  Corporate supplier MEFs Government supplier MEFs Two-sample difference test statistic
Mean Median Std. dev. Mean Median Std. dev. T-test Wilcoxon F-test
No. of obs. 764    404      
Precision −0.003 − 0.002 0.004 − 0.002 − 0.001 0.002 −8.30*** − 6.70*** 3.80***
Accuracy 0.017 0.013 0.019 0.012 0.011 0.013 5.09*** 4.04*** 2.26***
Impact −0.013 −0.007 0.109 −0.008 0.001 0.105 −0.83 − 1.39 1.07
Surprise −0.038 −0.013 0.097 −0.022 − 0.005 0.073 −3.19*** −2.51** 1.75***
ROA −0.005 0.037 0.148 0.042 0.049 0.090 −6.66*** −5.47*** 2.71***
BMR 0.563 0.494 0.344 0.462 0.400 0.303 5.15*** 5.52*** 1.29***
SIZE 6.859 6.828 1.477 6.872 6.616 1.635 −0.14 1.33 1.23**
RETVOL 0.033 0.030 0.014 0.030 0.027 0.013 3.48*** 3.56*** 1.23**
GROWTH 0.102 0.099 0.238 0.149 0.140 0.202 −3.54*** −3.94*** 1.38***
LEV 0.208 0.165 0.208 0.212 0.168 0.200 − 0.35 − 1.01 1.08
AGE 2.542 2.552 0.654 2.383 2.273 0.992 2.90*** 5.03*** 2.30***
  1. Notes: *p < 0.05, **p < 0.01, ***p < 0.001