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Table 2 Summary statistics

From: Does access to credit reduce SMEs’ tax avoidance? Evidence from a regression discontinuity design

  Observations Mean SD 25th Median 75th
Panel A: Full sample
\(BTD\) 10,187 − 0.022 0.092 − 0.029 − 0.004 0.015
\(SALEDIFF\) 10,187 − 1.309 1.372 − 2.145 − 1.392 − 0.592
\(CFO\) 10,187 0.026 0.150 − 0.049 0.032 0.107
\(LEVERAGE\) 10,187 0.395 0.199 0.237 0.390 0.539
\(INVEST\) 10,187 0.058 0.074 0.008 0.029 0.077
\(FIXED\) 10,187 0.166 0.154 0.033 0.121 0.262
Panel B: Sample of SMEs
\(BTD\) 1493 − 0.068 0.145 − 0.092 − 0.019 0.007
\(SALEDIFF\) 1493 1.016 0.834 0.412 0.834 1.398
\(CFO\) 1493 − 0.021 0.197 − 0.130 − 0.009 0.101
\(LEVERAGE\) 1493 0.314 0.203 0.142 0.283 0.451
\(INVEST\) 1493 0.066 0.092 0.006 0.026 0.086
\(FIXED\) 1493 0.148 0.164 0.024 0.073 0.230
Panel C: Sample of non-SMEs
\(BTD\) 8694 − 0.014 0.077 − 0.024 − 0.003 0.016
\(SALEDIFF\) 8694 − 1.708 0.999 − 2.283 − 1.612 − 0.973
\(CFO\) 8694 0.034 0.139 − 0.038 0.037 0.108
\(LEVERAGE\) 8694 0.409 0.195 0.256 0.405 0.550
\(INVEST\) 8694 0.056 0.070 0.009 0.029 0.076
\(FIXED\) 8694 0.170 0.152 0.036 0.130 0.266
  1. This table reports descriptive statistics of key variables. Panel A to Panel C present statistics of the full sample, the subsample of SMEs and the subsample of non-SMEs. All data come from CSMAR