The descriptive statistics of the last two variables is shown for all the years together. See appendix 13.6 for the assigned scores for the disclosed environmental information for the 45 companies of the sample in the four different years. Table 3 and 4, on the next page, give a listing of the industries with the number of companies per industry, and a listing of the countries in the sample with the number of companies. Table 4 views the wide spread of the sample over different countries, some countries only occur one time. This is the reason why the control variable of country is excluded from the analysis. Descriptive Statistics N Minimum Maximum Mean Std. Deviation ED 2003 45 10 31 19,02 5,194 ED 2005 45 8 32 20,47 5,798 ED 2007 45 8 34 21,84 6,399 ED 2008 45 10 34 22,60 6,088 Size 359 4,72 14,60 10,19 1,854 Leverage 358 0,12 1,09 0,63 0,188 Valid N (listwise) 45 Table 2: Descriptive statistics of used variables. Country Industry Table 3: Industries in sample Frequency Percent Valid Basic Materials 6 13,3 Consumer Goods 9 20,0 Financials 5 11,1 Industrials 4 8,9 Frequency Percent Oil and Gas 6 13,3 Valid Austria 1 2,2 Telecommunication 4 8,9 Denmark 1 2,2 Utilities 6 13,3 Finland 4 8,9 Consumer service 5 11,1 France 4 8,9 Total 45 100,0 Germany 3 6,7
The descriptive statistics of the last two variables is shown for all the years together. See appendix 13.6 for the assigned scores for the disclosed environmental information for the 45 companies of the sample in the four different years. Table 3 and 4, on the next page, give a listing of the industries with the number of companies per industry, and a listing of the countries in the sample with the number of companies. Table 4 views the wide spread of the sample over different countries, some countries only occur one time. This is the reason why the control variable of country is excluded from the analysis. Descriptive Statistics N Minimum Maximum Mean Std. Deviation ED 2003 45 10 31 19,02 5,194 ED 2005 45 8 32 20,47 5,798 ED 2007 45 8 34 21,84 6,399 ED 2008 Size Leverage 45 359 358 10 4,72 0,12 34 14,60 1,09 22,60 10,19 0,63 6,088 1,854 0,188 Valid N (listwise) 45 Table 2: Descriptive statistics of used variables. Country Industry Frequency Percent Valid Basic Materials 6 13,3 Consumer Goods 9 20,0 Financials 5 11,1 Industrials 4 8,9 Oil and Gas 6 13,3 Telecommunication 4 8,9 Utilities 6 13,3 Consumer service 5 11,1 Total 45 100,0 Table 3: Industries in sample Frequency Percent Valid Austria 1 2,2 Denmark 1 2,2 Finland 4 8,9 France 4 8,9 Germany 3 6,7