Strategic Adjustment Capacity, Sustained Competitive Advantage, and Firm Performance: An Evolutionary Perspective on Bird Flocking and Firm Competition

Table 2

Descriptive statistics for the sample.

Variable	Obs	Mean	Std. dev.	Min	Max.	25%	75%
ROA	28,993	0.000	0.984	−8.961	9.341	−0.499	0.411
NPM	28,993	0.000	0.984	−14.092	13.802	−0.265	0.295
OCR	28,993	0.000	0.984	−5.998	8.727	−0.570	0.663
SGFR	28,993	0.000	0.984	−2.357	14.762	−0.495	0.202
CHR	28,993	0.000	0.984	−2.766	12.416	−0.700	0.454
IT	28,993	0.000	0.984	−4.129	15.589	−0.518	0.160
LT	28,993	0.000	0.984	−2.734	11.155	−0.670	0.447
FT	28,993	0.000	0.984	−1.818	15.551	−0.477	0.089
Size	28,993	0.000	0.984	−3.900	3.828	−0.672	0.629