Descriptive statistics
| No. | Variable | Number | Mean | SD | 1 | 2 | 3 | 4 | 5 | 6 | 7 | 8 | 9 | 10 | 11 | 12 | 13 | 14 | 15 | 16 | 17 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 1 | AR (in %) | 143 | 0.54 | 3.10 | 1.00 | ||||||||||||||||
| 2 | CAR (in %) | 143 | 0.64 | 4.93 | 0.85 | 1.00 | |||||||||||||||
| 3 | Number of children | 143 | 3.70 | 2.20 | −0.21 | −0.16 | 1.00 | ||||||||||||||
| 4 | Number of sons | 143 | 1.93 | 1.39 | −0.18 | −0.13 | 0.75 | 1.00 | |||||||||||||
| 5 | Number of daughters | 143 | 1.77 | 1.53 | −0.15 | −0.11 | 0.79 | 0.18 | 1.00 | ||||||||||||
| 6 | Number of marriages | 143 | 1.28 | 0.74 | −0.19 | −0.23 | 0.48 | 0.29 | 0.44 | 1.00 | |||||||||||
| 7 | Family complexity | 143 | 5.36 | 7.05 | −0.33 | −0.34 | 0.79 | 0.55 | 0.66 | 0.79 | 1.00 | ||||||||||
| 8 | Family complexity (sons) | 143 | 2.71 | 3.62 | −0.35 | −0.36 | 0.73 | 0.73 | 0.40 | 0.69 | 0.92 | 1.00 | |||||||||
| 9 | Family complexity (daughters) | 143 | 2.64 | 4.03 | −0.27 | −0.28 | 0.74 | 0.32 | 0.81 | 0.77 | 0.94 | 0.73 | 1.00 | ||||||||
| 10 | Deceased executive | 143 | 0.15 | 0.36 | 0.07 | 0.03 | −0.12 | −0.15 | −0.04 | −0.06 | −0.09 | −0.09 | −0.07 | 1.00 | |||||||
| 11 | Deceased founder | 143 | 0.49 | 0.50 | −0.03 | 0.11 | 0.24 | 0.20 | 0.17 | 0.02 | 0.14 | 0.14 | 0.11 | −0.10 | 1.00 | ||||||
| 12 | Deceased founder executive | 143 | 0.05 | 0.22 | −0.10 | −0.09 | 0.02 | −0.05 | 0.07 | −0.02 | −0.02 | −0.03 | 0.00 | 0.59 | 0.26 | 1.00 | |||||
| 13 | Shareholder challenge | 143 | 0.69 | 0.46 | −0.12 | −0.16 | 0.19 | 0.19 | 0.11 | −0.02 | 0.11 | 0.12 | 0.08 | −0.11 | 0.17 | 0.00 | 1.00 | ||||
| 14 | Assets (in million USD) | 133 | 1.81 | 7.10 | 0.13 | 0.07 | 0.07 | 0.06 | 0.06 | 0.02 | 0.01 | 0.01 | 0.01 | −0.05 | −0.12 | −0.07 | 0.11 | 1.00 | |||
| 15 | ROE (in %) | 132 | 12.55 | 20.07 | 0.07 | 0.15 | 0.08 | 0.21 | −0.07 | 0.07 | 0.06 | 0.10 | 0.03 | −0.11 | −0.02 | −0.19 | 0.02 | −0.06 | 1.00 | ||
| 16 | Leverage | 133 | 0.56 | 0.20 | −0.15 | −0.14 | 0.13 | 0.06 | 0.13 | 0.16 | 0.15 | 0.12 | 0.15 | −0.09 | −0.01 | 0.10 | −0.05 | 0.01 | −0.26 | 1.00 | |
| 17 | Succession plan | 116 | 0.56 | 0.50 | −0.01 | −0.01 | −0.05 | −0.02 | −0.05 | −0.03 | −0.07 | −0.07 | −0.06 | −0.11 | −0.01 | −0.07 | 0.16 | 0.07 | 0.08 | −0.01 | 1.00 |
| No. | Variable | Number | Mean | 1 | 2 | 3 | 4 | 5 | 6 | 7 | 8 | 9 | 10 | 11 | 12 | 13 | 14 | 15 | 16 | 17 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 1 | 143 | 0.54 | 3.10 | 1.00 | |||||||||||||||||
| 2 | 143 | 0.64 | 4.93 | 0.85 | 1.00 | ||||||||||||||||
| 3 | Number of children | 143 | 3.70 | 2.20 | −0.21 | −0.16 | 1.00 | ||||||||||||||
| 4 | Number of sons | 143 | 1.93 | 1.39 | −0.18 | −0.13 | 0.75 | 1.00 | |||||||||||||
| 5 | Number of daughters | 143 | 1.77 | 1.53 | −0.15 | −0.11 | 0.79 | 0.18 | 1.00 | ||||||||||||
| 6 | Number of marriages | 143 | 1.28 | 0.74 | −0.19 | −0.23 | 0.48 | 0.29 | 0.44 | 1.00 | |||||||||||
| 7 | Family complexity | 143 | 5.36 | 7.05 | −0.33 | −0.34 | 0.79 | 0.55 | 0.66 | 0.79 | 1.00 | ||||||||||
| 8 | Family complexity (sons) | 143 | 2.71 | 3.62 | −0.35 | −0.36 | 0.73 | 0.73 | 0.40 | 0.69 | 0.92 | 1.00 | |||||||||
| 9 | Family complexity (daughters) | 143 | 2.64 | 4.03 | −0.27 | −0.28 | 0.74 | 0.32 | 0.81 | 0.77 | 0.94 | 0.73 | 1.00 | ||||||||
| 10 | Deceased executive | 143 | 0.15 | 0.36 | 0.07 | 0.03 | −0.12 | −0.15 | −0.04 | −0.06 | −0.09 | −0.09 | −0.07 | 1.00 | |||||||
| 11 | Deceased founder | 143 | 0.49 | 0.50 | −0.03 | 0.11 | 0.24 | 0.20 | 0.17 | 0.02 | 0.14 | 0.14 | 0.11 | −0.10 | 1.00 | ||||||
| 12 | Deceased founder executive | 143 | 0.05 | 0.22 | −0.10 | −0.09 | 0.02 | −0.05 | 0.07 | −0.02 | −0.02 | −0.03 | 0.00 | 0.59 | 0.26 | 1.00 | |||||
| 13 | Shareholder challenge | 143 | 0.69 | 0.46 | −0.12 | −0.16 | 0.19 | 0.19 | 0.11 | −0.02 | 0.11 | 0.12 | 0.08 | −0.11 | 0.17 | 0.00 | 1.00 | ||||
| 14 | Assets (in million | 133 | 1.81 | 7.10 | 0.13 | 0.07 | 0.07 | 0.06 | 0.06 | 0.02 | 0.01 | 0.01 | 0.01 | −0.05 | −0.12 | −0.07 | 0.11 | 1.00 | |||
| 15 | 132 | 12.55 | 20.07 | 0.07 | 0.15 | 0.08 | 0.21 | −0.07 | 0.07 | 0.06 | 0.10 | 0.03 | −0.11 | −0.02 | −0.19 | 0.02 | −0.06 | 1.00 | |||
| 16 | Leverage | 133 | 0.56 | 0.20 | −0.15 | −0.14 | 0.13 | 0.06 | 0.13 | 0.16 | 0.15 | 0.12 | 0.15 | −0.09 | −0.01 | 0.10 | −0.05 | 0.01 | −0.26 | 1.00 | |
| 17 | Succession plan | 116 | 0.56 | 0.50 | −0.01 | −0.01 | −0.05 | −0.02 | −0.05 | −0.03 | −0.07 | −0.07 | −0.06 | −0.11 | −0.01 | −0.07 | 0.16 | 0.07 | 0.08 | −0.01 | 1.00 |
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