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Table. 3 Descriptive statistics

From: Multiple large shareholders and corporate fraud: evidence from China

Variable N Mean Std. Min. Median Max. P25 P75
Panel A: Descriptive statistics of key variables
Fraud 24,704 0.166 0.372 0.000 0.000 1.000 0.000 0.000
Fre 24,704 0.249 0.691 0.000 0.000 11.000 0.000 0.000
Multi 24,704 0.368 0.482 0.000 0.000 1.000 0.000 1.000
Size 24,704 22.088 1.421 19.290 21.879 27.062 21.088 22.826
Lev 24,704 0.436 0.224 0.047 0.423 0.965 0.255 0.602
Roa 24,704 0.037 0.060 −0.258 0.037 0.196 0.014 0.066
 Lnboard 24,704 2.142 0.205 1.609 2.197 2.708 1.946 2.197
Big10 24,704 0.566 0.496 0.000 1.000 1.000 0.000 1.000
Ana 24,704 1.522 1.157 0.000 1.609 3.738 0.693 2.485
Dual 24,704 0.264 0.441 0.000 0.000 1.000 0.000 1.000
Turnover 24,704 1.671 1.275 0.124 1.323 6.293 0.727 2.263
Scfc 24,704 0.135 0.206 0.000 0.000 0.790 0.000 0.245
Panel B: Distribution of large shareholders
 Number of large shareholders 1 2 3 4 5
 Freq. 15,233 7249 1609 213 27
 Percent (%) 61.66 29.34 6.51 0.86 0.11