CEO Media Exposure and Green Technological Innovation Decision: Evidence from Chinese Polluting Firms

Table 3

Descriptive statistics per firm.

Variable	Mean	Std. dev.	Min	P10	p25	p50	p75	P90	Max
Green invention	0.97	3.02	0	0	0	0	1	3	59
Green utility	0.76	2.96	0	0	0	0	0	2	55
Media exposure	3.01	1.51	0	1.10	1.95	2.77	4.29	4.98	7.21
State	0.37	0.48	0	0	0	0	1	1	1
Rule	1.40	0.70	0	0	0.69	1.79	1.79	2.08	2.20
Firm size	22.17	1.22	19.06	20.82	21.31	21.95	22.88	23.9	26.43
Leverage	0.44	0.22	0.04	0.14	0.25	0.43	0.61	0.73	1.21
ROA	0.04	0.06	−0.26	0	0.01	0.04	0.07	0.1	0.23
Cash holding	0.31	0.40	0.01	0.05	0.09	0.17	0.36	0.73	2.67
R&D	17.48	1.54	0	15.66	16.65	17.58	18.37	19.3	22.08
Subsidy	16.27	1.85	0	14.4	15.4	16.3	17.31	18.25	21.79
Top hold	0.36	0.15	0.04	0.18	0.24	0.34	0.47	0.56	0.89
TMT size	7.37	2.40	3	5	6	7	9	10	15
CEO duality	0.23	0.42	0	0	0	0	0	1	1