Table 1.

Descriptive statistics

No.VariableNumberMeanSD1234567891011121314151617
1AR (in %)1430.543.101.00
2CAR (in %)1430.644.930.851.00
3Number of children1433.702.20−0.21−0.161.00
4Number of sons1431.931.39−0.18−0.130.751.00
5Number of daughters1431.771.53−0.15−0.110.790.181.00
6Number of marriages1431.280.74−0.19−0.230.480.290.441.00
7Family complexity1435.367.05−0.33−0.340.790.550.660.791.00
8Family complexity (sons)1432.713.62−0.35−0.360.730.730.400.690.921.00
9Family complexity (daughters)1432.644.03−0.27−0.280.740.320.810.770.940.731.00
10Deceased executive1430.150.360.070.03−0.12−0.15−0.04−0.06−0.09−0.09−0.071.00
11Deceased founder1430.490.50−0.030.110.240.200.170.020.140.140.11−0.101.00
12Deceased founder executive1430.050.22−0.10−0.090.02−0.050.07−0.02−0.02−0.030.000.590.261.00
13Shareholder challenge1430.690.46−0.12−0.160.190.190.11−0.020.110.120.08−0.110.170.001.00
14Assets (in million USD)1331.817.100.130.070.070.060.060.020.010.010.01−0.05−0.12−0.070.111.00
15ROE (in %)13212.5520.070.070.150.080.21−0.070.070.060.100.03−0.11−0.02−0.190.02−0.061.00
16Leverage1330.560.20−0.15−0.140.130.060.130.160.150.120.15−0.09−0.010.10−0.050.01−0.261.00
17Succession plan1160.560.50−0.01−0.01−0.05−0.02−0.05−0.03−0.07−0.07−0.06−0.11−0.01−0.070.160.070.08−0.011.00
Source(s): Authors’ own work

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