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Empirical Analysis Of Ownership Structure Impact On Corporate Social Responsibility

Table 1:

Variable Indication Description Mean Deviation Min Max
State ownership S t a t e i n v e s t o r Dummy variable (1 – if yes, 0 – otherwise) 0.3491 0.4767 0 1
Foreign ownership F o r e i g n i n v e s t o r Dummy variable (1 – if yes, 0 – otherwise) 0.5094 0.4999 0 1
Majority ownership M a j o r i t y O w n e s h i p Share of the first three biggest shareholders 77.3911 20.3942 2.93 100
Financial leverage L e v Ratio of short-term and long-term debt to the total value of equity and debt capital 0.5234 0.6813 0 5.2342
Company size L n r e v e n u e Natural log of revenue 22.4612 3.6229 16.0887 29.2203
Company age A g e Number of years since incorporation 17.7736 5.1712 3 28
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