Evaluation of Managerial Overconfidence, Cash Holding, and Investment Efficiency in Companies

Table 2

Descriptive statistics of the variables.

Variables	Obs.	Mean	Std.	Min	Max
CASH	819	0.079	0.153	0.066	0.568
INVEFF	819	0.055	0.068	0.0002	0.598
SIZE	819	14.062	1.606	10.195	19.249
TQ	819	2.035	1.151	0.655	5.263
LEV	819	0.558	0.196	0.131	0.949
ROA	819	0.134	0.146	−0.176	0.602
EPS	819	0.121	0.147	−0.351	0.708
CF	819	0.129	0.152	−0.238	0.669
HHI	819	0.818	0.152	0.050	0.998