Influencing Factors of Financing Constraints of Micro and Small Enterprises (MSEs) in China: A Risk Information Conveyance Perspective

Table 5

Descriptive statistics results of relevant variables.

Variables	Full sample					Sample facing financing constraints from formal financing channels					Sample facing financing constraints from informal financing channels
	Observation	Mean	Standard deviation	Minimum value	Maximum value	Observation	Mean	Standard deviation	Minimum value	Maximum value	Observation	Mean	Standard deviation	Minimum value	Maximum value
SA	4649	−1.189	0.789	−4.539	−0.04	4374	−1.162	0.775	−4.539	−0.04	4490	−1.19	0.791	−4.539	−0.04
Assets	4649	23.184	16.57	0	77.777	4374	22.571	16.342	0	77.777	4490	23.01	16.615	0	77.777
Size	4649	14.286	2.476	0	21.416	4374	14.228	2.453	0	21.416	4490	14.288	2.479	0	21.416
Firmage	4649	7.785	6.247	1	58	4374	7.663	6.154	1	58	4490	7.792	6.255	1	58
Revenue	4643	12.752	4.862	0	22.515	4368	12.624	4.912	0	22.515	4484	12.717	4.909	0	22.515
Employees	4649	25.436	173.835	0	10000	4374	25.191	178.863	0	10000	4490	25.688	176.818	0	10000
Profit	4541	0.489	0.5	0	1	4266	0.485	0.5	0	1	4383	0.491	0.5	0	1
System	4590	0.676	0.468	0	1	4318	0.674	0.469	0	1	4431	0.681	0.466	0	1
Hightech	2368	0.138	0.345	0	1	2199	0.138	0.345	0	1	2280	0.14	0.347	0	1
PB	4644	0.297	0.457	0	1	4369	0.294	0.456	0	1	4485	0.299	0.458	0	1
Technicians	4649	9.308	36.617	0	1600	4374	9.007	36.724	0	1600	4490	9.395	37.142	0	1600
Ratio	4649	25.267	32.299	0	100	4374	24.885	32.102	0	100	4490	25.23	32.315	0	100
Education	3970	5.144	1.722	1	9	3723	5.155	1.729	1	9	3822	5.171	1.718	1	9
Gender	4181	0.824	0.381	0	1	3927	0.825	0.38	0	1	4031	0.824	0.381	0	1
Age	4155	44.402	10.264	16	108	3902	44.329	10.346	16	108	4005	44.296	10.23	16	108
Year	4649	9.632	8.39	0	65	4374	9.52	8.351	0	65	4490	9.61	8.368	0	65
Attention	1767	2.608	1.139	1	5	1645	2.618	1.136	1	5	1672	2.599	1.134	1	5
Course	1768	0.335	0.472	0	1	1646	0.333	0.471	0	1	1673	0.339	0.473	0	1
Region	4649	1.62	0.821	1	3	4374	1.624	0.823	1	3	4490	1.618	0.821	1	3