| Variable | Woman GUO (n = 6951)a | Man GUO (n = 30,916)a | p-valueb | ||
| Mean | Median | Mean | Median | ||
| Financial ratios | |||||
| Labor expenses/Operating revenue (%) | 38.795 | 36.842 | 33.903 | 31.164 | 0.000 |
| EBITDA margin (%) | 13.188 | 9.797 | 15.325 | 11.735 | 0.001 |
| Profit margin (%) | 8.622 | 5.556 | 9.399 | 6.276 | 0.002 |
| Return on total assets (%) | 7.748 | 8.333 | 7.374 | 7.284 | 0.003 |
| Shareholders liquidity ratio | 10.830 | 0.717 | 11.330 | 1.200 | 0.001 |
| Solvency ratio (%) | 55.952 | 66.667 | 56.204 | 64.135 | 0.010 |
| Current ratio | 5.179 | 1.873 | 5.021 | 1.779 | 0.083 |
| Collection period (days) | 23.648 | 6.606 | 28.359 | 12.350 | 0.000 |
| Credit period (days) | 13.609 | 3.229 | 16.643 | 5.441 | 0.000 |
| Company size | |||||
| Number of employees | 4.830 | 1.000 | 10.610 | 2.000 | 0.001 |
| Total assets, thousands of euro | 319.798 | 59.000 | 1019.535 | 117.000 | 0.000 |
| Net sales, thousands of euro | 446.640 | 95.000 | 1358.880 | 137.000 | 0.000 |
| Company age | |||||
| Age of the company (years) | 14.720 | 11.000 | 16.810 | 13.000 | 0.000 |
| Control variables | |||||
| Manufacturing (industry) | 0.041 | 0.000 | 0.081 | 0.000 | 0.000 |
| Construction (industry) | 0.052 | 0.000 | 0.194 | 0.000 | 0.000 |
| Hotels and restaurants (industry) | 0.059 | 0.000 | 0.027 | 0.000 | 0.000 |
| Wholesale and retail trade (industry) | 0.173 | 0.000 | 0.158 | 0.000 | 0.002 |
| Logarithm of total assets (size) | 3.992 | 4.094 | 4.666 | 4.779 | 0.000 |
| Logarithm of company age (age) | 2.452 | 2.398 | 2.591 | 2.565 | 0.000 |