Economic Policy Uncertainty, Managerial Ability, and the Peer Effect of Corporate Investment

Table 2

Descriptive statistical results.

Variable	N	Mean	SD	P50	Min	Max
INV1	19,786	0.0591	0.0614	0.0403	−0.0257	0.326
INV2	20,550	0.0616	0.0612	0.0421	0.00120	0.327
	19,780	0.0529	0.0184	0.0494	0.0172	0.103
	20,544	0.0581	0.0185	0.0535	0.0195	0.109
MA	23,180	−0.00710	0.154	−0.0341	−0.500	0.501
EPU	23,180	3.961	2.404	2.849	0.920	7.746
Tangible	23,180	0.208	0.144	0.180	0.00540	0.650
Growth	20554	0.157	0.349	0.107	−0.498	2.068
Lev	23,180	0.395	0.202	0.383	0.0474	0.890
Size	23,180	22.05	1.247	21.86	19.95	26.03
Ocf	23,180	0.0481	0.0653	0.0470	−0.140	0.230
Cash	23,180	0.198	0.142	0.156	0.0200	0.693
Tobin Q	23,180	2.262	1.412	1.801	0.917	9.064
Roa	23,179	0.0465	0.0659	0.0447	−0.246	0.224
First	23,180	0.343	0.147	0.322	0.0220	0.900
Duality	22,926	0.313	0.464	0	0	1