2015 (N = 20)

Cash maturing debt ratio

Operating net cash flow

Capital accumulation rate

Total assets turnover

Cash ratio

Pearson Correlation

0.539*

−0.487*

0.540*

0.776**

0.493*

Sig.

0.014

0.029

0.014

0.000

0.027

Current ratio

Quick ratio

Net profit growth rate

Degree of operating leverage

Degree of total leverage

Pearson Correlation

0.608**

0.524*

0.513*

0.540*

0.572**

Sig.

0.004

0.018

0.021

0.014

0.008

ROA

Cash ratio

Operating net cash flow

Inventory turnover

Total assets turnover

Kendall Correlation

0.368*

0.421**

−0.484**

−0.337*

0.575**

Sig.

0.023

0.009

0.003

0.038

0

ROA

Cash ratio

Operating net cash flow

Inventory turnover

Total assets turnover

Spearman Correlation

0.496*

0.538*

−0.677**

−0.481*

0.749**

Sig.

0.026

0.014

0.001

0.032

0.000

Current ratio

Quick ratio

EBIT

Degree of total leverage

Kendall Correlation

0.501**

0.512**

−0.389*

0.337*

Sig.

0.002

0.002

0.016

0.038

Current ratio

Quick ratio

EBIT

Degree of total leverage

Spearman Correlation

0.662**

0.663**

−0.561*

0.481*

Sig

0.001

0.001

0.010

0.032