Research on Institutional Investors and Executive Compensation Stickiness Based on Fixed Effect Model: A Case Study of Chinese Listed Companies

Table 3

Descriptive statistics of main variables.

Variable	Observed value	Average/Mean value	Standard deviation	Minimum	Maximum
Lnpay	7670	14.5133	0.6699	13.0303	16.5161
Lnperf	7670	19.0647	1.4781	15.1554	23.2340
Down	7670	0.3099	0.4625	0	One
IIS	7670	0.8318	0.4032	0	One
PRII	6380	0.2912	0.4544	0	One
Dual	7670	0.2568	0.4370	0	One
Share	7670	0.3553	0.1478	0.0903	0.7482
CG	7670	0.1246	0.3303	0	One
Lev	7670	0.4049	0.1928	0.0593	0.8407
Indd	7670	0.3711	0.0507	0.3333	0.5714
West	7670	0.1520	0.3590	0	One
Central	7670	0.1193	0.3242	0	One
Lnsize	7670	22.4971	1.2943	20.2191	26.5472
ROE	7670	0.1042	0.0656	0.0090	0.3446