Research Article
Interest Rate Liberalization and Firm Leverage in China: Effects and Channels
Table 1
Descriptive statistics of key variables.
| Variable | N | Mean | Std. dev | Min | Median | Max |
| Lev | 17956 | 0.464 | 0.218 | 0.047 | 0.467 | 1.011 | Slev | 17956 | 0.377 | 0.194 | 0.035 | 0.361 | 0.951 | Llev | 17956 | 0.088 | 0.108 | 0.000 | 0.042 | 0.488 | Irlib1 | 17956 | 0.733 | 0.061 | 0.673 | 0.735 | 0.806 | Irlib2 | 17956 | 0.747 | 0.104 | 0.603 | 0.760 | 0.869 | Size | 17956 | 21.917 | 1.282 | 19.232 | 21.765 | 25.925 | ROA | 17956 | 0.057 | 0.066 | −0.254 | 0.054 | 0.253 | MB | 17956 | 2.431 | 1.676 | 0.883 | 1.915 | 10.978 | NDTS | 17956 | 0.025 | 0.017 | 0.001 | 0.022 | 0.079 | PPE | 17956 | 0.237 | 0.174 | 0.002 | 0.202 | 0.731 | Cflow | 17956 | 0.042 | 0.077 | −0.197 | 0.042 | 0.249 | Capex | 17956 | 0.057 | 0.053 | 0.000 | 0.041 | 0.249 | Grow | 17956 | 0.145 | 0.331 | −0.966 | 0.131 | 1.582 | Meci | 17956 | 4.626 | 0.018 | 4.604 | 4.632 | 4.653 |
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