Table 2 Major variables' descriptive statistics.

From: The influence mechanism of industrial policies on Chinese companies' cross-border M&A decision-making

variable

Mean

sd

Min

Max

N

cbma

0.0718

0.2582

0.0000

1.0000

25,600.0000

Policy

0.4598

0.4984

0.0000

1.0000

25,600.0000

Size

22.0887

1.4767

15.4177

30.9524

25,600.0000

Asset debt

0.4634

0.6238

0.0071

61.3354

25,600.0000

Roa

0.0410

0.0864

− 6.7139

2.9330

25,600.0000

Dual

0.7698

0.4209

0.0000

1.0000

24,900.0000

Ln sales

21.3214

1.4515

16.7841

25.1007

25,200.0000

Sale growth

1.0280

95.9842

− 1.0455

14,900.0000

25,600.0000

Salary ratio

0.4527

0.1338

0.0882

1.0000

25,600.0000

Firm age

16.2002

5.8055

3.0000

63.0000

25,600.0000

Roe

0.0612

0.5002

− 45.4824

2644

25,500.0000

Cost growth

0.3296

8166

− 0.9788

576.0718

25,200.0000

Ln pe

4.7194

10.2689

− 1.1979

12.9480

22,900.0000

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