(1)

(2)

(3)

(4)

(5)

VARIABLES

N

mean

sd

min

max

Age

3136

4.259

2.694

1

11

Lev

3136

0.310

0.176

0.0111

1.685

Seperation

3136

3.164

6.150

−4.540

49.40

ROA

3136

0.0506

0.0901

−1.029

0.767

Board

3136

2.061

0.191

1.386

2.639

Largestholder

3136

30.44

12.60

3

81.10

Fin

3136

0.00707

0.0829

−0.400

2.928

TobinQ

3136

2.959

2.337

0.160

33.23