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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