Financial Innovation

Table 3 Descriptive statistics and test of differences

From: Mediating effect of firm efficiency on the controlling shareholdings–firm performance nexus: evidence from public listed firms in Malaysia

Variables	Summary statistics		Mean differences test
Variables	Mean	SD	High_Eff (n = 1,424)	Low_Eff (n = 1,425)	Differences	t-stat
ROA	0.0368	0.0639	0.0562	0.0174	0.0388	− 17.0145***
EFF_SBM	0.1905	0.2279
EFF_DDF	0.8720	0.0672
CS5	0.5429	0.1624	0.5524	0.5336	0.0188	− 3.1006***
BIND	3.4163	1.1026	3.5850	3.2477	0.3373	− 8.2590***
FSIZE	20.3484	1.5499	21.0348	19.6625	1.3723	− 26.3488***
FLEV	0.3939	0.1971	0.3954	0.3924	0.0030	− 0.4116

***significant at the 1% level

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