Groups of firms:

Active firms:

Bankrupt firms:

All firms:

Decrease in ROI

Increase in ROI

Decrease in ROI

Increase in ROI

Decrease in ROI

Increase in ROI

Median of growth rate:

1) Net sales (NS)

0.0190

0.0548

0.0089

−0.0482

0.0189

0.0548

2) Total expenses (TE)

0.0279

0.0465

0.0238

−0.0740

0.0279

0.0464

3) Total assets (TA)

0.0413

0.0458

0.0229

−0.0495

0.0412

0.0457

Median of time series correlation:

NS-TE & TA

0.2368

0.4989

0.1894

−0.1143

0.2356

0.4964

Frequencies (%):

1) g(NS) ≥ 0 & g(TE) ≥ 0 & g(TA) ≥ 0

55.01

62.91

51.35

28.57

54.97

62.83

2) g(NS) ≥ 0 & g(TE) ≥ 0 & g(TA) < 0

6.71

10.67

5.41

0.00

6.70

10.65

3) g(NS) ≥ 0 & g(TE) < 0 & g(TA) ≥ 0

0.38

2.13

0.00

0.00

0.38

2.13

4) g(NS) ≥ 0 & g(TE) < 0 & g(TA) < 0

0.00

1.36

0.00

0.00

0.00

1.36

5) g(NS) < 0 & g(TE) ≥ 0 & g(TA) ≥ 0

3.32

0.00

2.70

0.00

3.31

0.00

6) g(NS) < 0 & g(TE) ≥ 0 & g(TA) < 0

2.14

0.07

1.35

0.00

2.13

0.07

7) g(NS) < 0 & g(TE) < 0 & g(TA) ≥ 0

12.09

6.86

8.11

0.00

12.05

6.84

8) g(NS) < 0 & g(TE) < 0 & g(TA) < 0

20.34

15.99

31.08

71.43

20.47

16.13

Total

100.00

100.00

100.00

100.00

100.00

100.00

Frequencies (%):

1) g(NS) ≥ g(TE) ≥ g(TA)

0.51

38.56

0.00

28.57

0.50

38.53

2) g(NS) ≥ g(TA) ≥ g(TE)

0.00

6.93

0.00

14.29

0.00

6.95

3) g(TE) ≥ g(NS) ≥ g(TA)

32.86

10.71

31.08

0.00

32.84

10.68

4) g(TA) ≥ g(NS) ≥ g(TE)

10.35

43.14

2.70

57.14

10.26

43.18

5) g(TE) ≥ g(TA) ≥ g(NS)

8.01

0.00

13.51

0.00

8.08

0.00

6) g(TA) ≥ g(TE) ≥ g(NS)

48.27

0.66

52.70

0.00

48.32

0.66

Total

100.00

100.00

100.00

100.00

100.00

100.00

Number of firms

6302

2858

74

7

6376

2865

%

68.80

31.20

91.36

8.64

69.00

31.00