Table 3 Descriptive statistics and... | Emerald Publishing

Table 3

Descriptive statistics and correlations

Variables	Mean	SD	1	2	3	4	5	6	7	8	9	10
1. Indebtedness	0.499	0.237	1.000
2. R&D Out Comp	0.003	0.009	0.167***	1.000
3. Family firm	0.446	0.497	−0.086***	−0.002	1.000
4. External R&D	0.003	0.015	0.055***	0.342***	0.011	1.000
5. Internal R&D	0.006	0.018	0.042***	0.314***	0.001	0.316***	1.000
6. Size	16.079	2.079	0.050***	0.177***	−0.102***	0.123***	0.190***	1.000
7. Age	3.260	0.640	−0.082***	0.089***	0.028***	0.055***	0.086***	0.218***	1.000
8. FICs	0.114	0.318	0.031***	0.231***	0.006	0.184***	0.308***	0.327***	0.121***	1.000
9. ROA	0.103	0.162	−0.044***	−0.023**	−0.014	−0.027**	−0.042***	−0.013	−0.035***	−0.015	1.000
10. Tangible Assets	0.369	0.227	0.047***	−0.018*	−0.020*	−0.001	−0.027**	0.179***	−0.052***	0.047***	0.043***	1.000
11. Liquidity	0.424	0.717	−0.215***	0.035***	0.101***	−0.002	0.029***	−0.016	0.037***	−0.020*	−0.148***	−0.283***

Variables	Mean	SD	1	2	3	4	5	6	7	8	9	10
1. Indebtedness	0.499	0.237	1.000
2. R&D Out Comp	0.003	0.009	0.167***	1.000
3. Family firm	0.446	0.497	−0.086***	−0.002	1.000
4. External R&D	0.003	0.015	0.055***	0.342***	0.011	1.000
5. Internal R&D	0.006	0.018	0.042***	0.314***	0.001	0.316***	1.000
6. Size	16.079	2.079	0.050***	0.177***	−0.102***	0.123***	0.190***	1.000
7. Age	3.260	0.640	−0.082***	0.089***	0.028***	0.055***	0.086***	0.218***	1.000
8. FICs	0.114	0.318	0.031***	0.231***	0.006	0.184***	0.308***	0.327***	0.121***	1.000
9. ROA	0.103	0.162	−0.044***	−0.023**	−0.014	−0.027**	−0.042***	−0.013	−0.035***	−0.015	1.000
10. Tangible Assets	0.369	0.227	0.047***	−0.018*	−0.020*	−0.001	−0.027**	0.179***	−0.052***	0.047***	0.043***	1.000
11. Liquidity	0.424	0.717	−0.215***	0.035***	0.101***	−0.002	0.029***	−0.016	0.037***	−0.020*	−0.148***	−0.283***

Note(s): *p < 0.10. **p < 0.05. ***p < 0.01

Source(s): Table by authors