Table 5

Estimated correlation between demand side determinants for developed-country full sample

TDTAEVTALSLMTBPPETADEPTAEBITAPORFage
TDTA1.00        
EVTA−0.04*1.00       
LSL0.20*−0.18*1.00      
MTB−0.02*0.25*−0.15*1.00     
PPETA0.28*−0.06*0.15*−0.15*1.00    
DEPTA0.12*0.03*−0.01−0.01*0.41*1.00   
EBITA−0.05*−0.000.26*−0.03*0.02*−0.031.00  
POR−0.07*−0.04*0.11*0.05*−0.03*−0.02*−0.30*1.00 
Fage−0.03*−0.02*−0.06*0.03*0.000.000.06*0.17*1.00

Note(s): *Significant at 5% level

Source(s): Table by Thakur

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