We also consider the number of employees of the credit bureau
office that covers a firm. We obtain the total number of employees
for each Creditreform office from the Orbis/Amadeus database and
then calculate the ratio of firms covered to the number of employees
(FIRMS_PER_EMPLOYEE). Due to limited availability of data we
were able to calculate this ratio for only 50 of the 119 Creditreform
offices. Table 1 presents descriptive statistics.