Groups of firms:

Active firms:

Bankrupt firms:

All firms:

Decrease in PRM

Increase in PRM

Decrease in PRM

Increase in PRM

Decrease in PRM

Increase in PRM

Median of growth rate:

1) Net sales (NS)

0.0199

0.0477

0.0088

−0.0461

0.0198

0.0475

2) Total expenses (TE)

0.0300

0.0391

0.0238

−0.0505

0.0300

0.0387

Median of time series correlation:

NS-TE & NS

0.4895

0.6817

0.4204

0.2895

0.4890

0.6800

Frequencies (%):

1) g(NS) ≥ 0 & g(TE) ≥ 0

62.27

71.25

55.56

44.44

62.19

71.17

2) g(NS) ≥ 0 & g(TE) < 0

0.00

3.85

0.00

0.00

0.00

3.84

3) g(NS) < 0 & g(TE) ≥ 0

5.82

0.00

4.17

0.00

5.80

0.00

4) g(NS) < 0 & g(TE) < 0

31.90

24.90

40.28

55.56

32.00

24.98

Total

100.00

100.00

100.00

100.00

100.00

100.00

Frequencies (%):

1) g(NS) ≥ g(TE)

0.00

100.00

0.00

100.00

0.00

100.00

2) g(TE) ≥ g(NS)

100.00

0.00

100.00

0.00

100.00

0.00

Total

100.00

100.00

100.00

100.00

100.00

100.00

Number of firms

5943

3217

72

9

6015

3226

%

64.88

35.12

88.89

11.11

65.09

34.91