Descriptive statistics and correlation matrix
| No. | Variable | Obs | Mean | SD | Min | Max | 1 | 2 | 3 | 4 | 5 | 6 | 7 | 8 | 9 | 10 | 11 | 12 | 13 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Foreign sales (ln) | 287 | 14.43 | 6.32 | 0.00 | 22.80 | 1.00 | ||||||||||||
| 2 | Restricted SEPs Comp1 | 287 | 0.00 | 1.53 | −7.70 | 2.25 | −0.15 | 1.00 | |||||||||||
| 3 | Restricted SEPs Comp2 | 287 | 0.00 | 1.18 | −4.10 | 2.01 | 0.19 | −0.09 | 1.00 | ||||||||||
| 4 | Extended SEPs Comp1 | 287 | 0.00 | 2.05 | −8.69 | 4.34 | 0.05 | 0.36 | 0.06 | 1.00 | |||||||||
| 5 | Extended SEPs Comp2 | 287 | 0.00 | 1.53 | −5.32 | 4.68 | 0.23 | 0.03 | 0.32 | −0.02 | 1.00 | ||||||||
| 6 | Extended SEPs Comp3 | 287 | 0.00 | 1.24 | −4.68 | 3.40 | 0.02 | −0.05 | 0.27 | −0.01 | 0.00 | 1.00 | |||||||
| 7 | Family ownership stake | 287 | 93.75 | 15.86 | 15.00 | 100.00 | −0.02 | 0.25 | 0.05 | 0.03 | 0.05 | −0.04 | 1.00 | ||||||
| 8 | Family involvement | 287 | 1.85 | 1.76 | 0.00 | 20.00 | −0.13 | 0.19 | −0.22 | 0.17 | −0.16 | −0.05 | 0.05 | 1.00 | |||||
| 9 | Importance of internationalization | 287 | 4.87 | 1.42 | 1.00 | 6.00 | 0.47 | 0.10 | 0.21 | 0.33 | −0.02 | 0.18 | −0.03 | 0.00 | 1.00 | ||||
| 10 | Risk propensity Comp1 | 287 | 0.00 | 1.35 | −5.03 | 2.52 | 0.08 | 0.07 | 0.20 | 0.19 | 0.06 | 0.11 | 0.04 | −0.12 | 0.18 | 1.00 | |||
| 11 | Risk propensity Comp2 | 287 | 0.00 | 1.16 | −2.94 | 4.38 | −0.05 | −0.14 | −0.07 | 0.01 | −0.28 | 0.25 | 0.01 | 0.07 | −0.07 | 0.02 | 1.00 | ||
| 12 | Firm age | 287 | 74.66 | 45.84 | 5.00 | 200.00 | 0.21 | −0.16 | 0.15 | −0.06 | 0.24 | 0.01 | 0.02 | −0.12 | 0.18 | 0.15 | −0.04 | 1.00 | |
| 13 | Firm size | 287 | 6.23 | 1.65 | 1.39 | 10.99 | 0.55 | −0.27 | 0.38 | −0.07 | 0.23 | 0.05 | −0.07 | −0.14 | 0.22 | 0.07 | 0.01 | 0.24 | 1.00 |
| No. | Variable | Obs | Mean | SD | Min | Max | 1 | 2 | 3 | 4 | 5 | 6 | 7 | 8 | 9 | 10 | 11 | 12 | 13 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Foreign sales (ln) | 287 | 14.43 | 6.32 | 0.00 | 22.80 | 1.00 | ||||||||||||
| 2 | Restricted SEPs Comp1 | 287 | 0.00 | 1.53 | −7.70 | 2.25 | −0.15 | 1.00 | |||||||||||
| 3 | Restricted SEPs Comp2 | 287 | 0.00 | 1.18 | −4.10 | 2.01 | 0.19 | −0.09 | 1.00 | ||||||||||
| 4 | Extended SEPs Comp1 | 287 | 0.00 | 2.05 | −8.69 | 4.34 | 0.05 | 0.36 | 0.06 | 1.00 | |||||||||
| 5 | Extended SEPs Comp2 | 287 | 0.00 | 1.53 | −5.32 | 4.68 | 0.23 | 0.03 | 0.32 | −0.02 | 1.00 | ||||||||
| 6 | Extended SEPs Comp3 | 287 | 0.00 | 1.24 | −4.68 | 3.40 | 0.02 | −0.05 | 0.27 | −0.01 | 0.00 | 1.00 | |||||||
| 7 | Family ownership stake | 287 | 93.75 | 15.86 | 15.00 | 100.00 | −0.02 | 0.25 | 0.05 | 0.03 | 0.05 | −0.04 | 1.00 | ||||||
| 8 | Family involvement | 287 | 1.85 | 1.76 | 0.00 | 20.00 | −0.13 | 0.19 | −0.22 | 0.17 | −0.16 | −0.05 | 0.05 | 1.00 | |||||
| 9 | Importance of internationalization | 287 | 4.87 | 1.42 | 1.00 | 6.00 | 0.47 | 0.10 | 0.21 | 0.33 | −0.02 | 0.18 | −0.03 | 0.00 | 1.00 | ||||
| 10 | Risk propensity Comp1 | 287 | 0.00 | 1.35 | −5.03 | 2.52 | 0.08 | 0.07 | 0.20 | 0.19 | 0.06 | 0.11 | 0.04 | −0.12 | 0.18 | 1.00 | |||
| 11 | Risk propensity Comp2 | 287 | 0.00 | 1.16 | −2.94 | 4.38 | −0.05 | −0.14 | −0.07 | 0.01 | −0.28 | 0.25 | 0.01 | 0.07 | −0.07 | 0.02 | 1.00 | ||
| 12 | Firm age | 287 | 74.66 | 45.84 | 5.00 | 200.00 | 0.21 | −0.16 | 0.15 | −0.06 | 0.24 | 0.01 | 0.02 | −0.12 | 0.18 | 0.15 | −0.04 | 1.00 | |
| 13 | Firm size | 287 | 6.23 | 1.65 | 1.39 | 10.99 | 0.55 | −0.27 | 0.38 | −0.07 | 0.23 | 0.05 | −0.07 | −0.14 | 0.22 | 0.07 | 0.01 | 0.24 | 1.00 |