Table 1

Correlation, average y standard deviation

MinMaxAvgSDFamilyPublicE/IAge 06Age 10Age 13Emp.06Emp.10Emp.13CR06CR10CR13D/E 06D/E 10D/E 13PE/I 06PE/I 10PE/I 13ROA 06ROA 10ROA 13ROE 06ROE 10
Family010.430.50                       
Public011.990.11−0.122**                      
E/I032.331.090.190**−0.03                     
Age 0689725.7816.150.06−0.161**0.08                    
Age 1049329.7816.150.06−0.161**0.081.000**                   
Age 1308932.7816.150.06−0.161**0.081.000**1.000**                  
Emp.062.079.084.681.07−0.269**−0.08−0.040.217**0.217**0.217**                 
Emp.101.609.314.641.02−0.275**−0.097*−0.040.168**0.168**0.168**0.926**                
Emp.1309.494.641.01−0.311**−0.02−0.020.179**0.179**0.179**0.910**0.948**               
CR060.1717.980.000.900.040.093*0.020.050.050.05−0.100*−0.098*−0.111*              
CR100.1314.960.001.230.094*0.109*0.010.090.090.09−0.125**−0.143**−0.160**0.635**             
CR130.1412.760.001.510.070.08−0.020.090.090.09−0.135**−0.135**−0.154**0.549**0.815**            
D/E 06−6.0331.240.003.44−0.020.010.01−0.093*−0.093*−0.093*0.040.050.08−0.161**−0.143**−0.130**           
D/E 10−4.49369.580.0017.30−0.030.010.020.020.020.020.050.030.09−0.03−0.03−0.020.428**          
D/E 13−29.5044.330.002.32−0.080.010.06−0.02−0.02−0.020.040.040.05−0.180**−0.203**−0.211**0.165**0.232**         
PE/I 060.2879.9670.009.660.090.04−0.070.093*0.093*0.093*0.205**0.178**0.168**0.090.050.03−0.01−0.02−0.03        
PE/I 100.19121.770.0011.730.115*−0.163**−0.040.090.090.090.116*0.109*0.080.060.097*0.129**−0.04−0.03−0.070.782**       
PE/I 130.2279.4150.0011.020.101*0.01−0.080.080.080.080.170**0.165**0.131**0.135**0.178**0.209**−0.06−0.04–.113*0.810**0.819**      
ROA 06−46.1153.1317.298.38−0.108*0.04−0.040.010.010.01−0.020.010.000.296**0.223**0.187**−0.08−0.06–.258**−0.186**−0.095*−0.03     
ROA 10−44.5481.3775.798.49−0.070.06−0.02−0.05−0.05−0.05−0.040.020.050.141**0.101*0.098*−0.08−0.145**−0.108*−0.06−0.189**−0.080.307**    
ROA 13−58.6547.2444.638.42−0.105*−0.010.01−0.07−0.07−0.07−0.07−0.030.010.090.010.09−0.01−0.03−0.070.03−0.05−0.154**0.167**0.524**   
ROE 06−258.15514.0219.3333.45−0.102*0.03−0.09−0.116*−0.116*−0.116*0.030.080.080.050.020.020.362**0.00−0.01−0.231**−0.166**−0.137**0.530**0.267**0.123**  
ROE 10−2477.14158.893.27133.750.050.000.03−0.01−0.01−0.01−0.05−0.03−0.070.020.01−0.01−0.319**−0.922**−0.177**−0.01−0.05−0.010.090.260**0.090.05 
ROE 13−100.08519.219.9431.15−0.104*0.00−0.09−0.06−0.06−0.060.030.040.090.04−0.05−0.030.196**0.182**−0.378**0.03−0.03−0.080.151**0.209**0.440**0.120*−0.07

Note(s): *The correlation is significant at level 0.05 (bilateral). ** The correlation is significant at level 0.01 (bilateral)

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