Table 5 Estimation results of top executive’s attributes and ROA.

Conscientiousness

−0.030

0.075

−0.022

0.206

−0.088

0.073

0.072

0.169

Uniqueness

0.086

0.091

−0.104

0.344

0.009

0.076

0.127

0.183

Execution Skills

−0.002

0.071

0.315

0.218

0.124

0.072*

−0.211

0.169

Extraversion

−0.116

0.065*

−0.217

0.268

−0.065

0.066

−0.141

0.140

Neuroticism

0.223

0.072***

−0.381

0.261

0.087

0.072

0.553

0.161***

Openness

0.095

0.079

−0.436

0.234*

0.016

0.076

0.341

0.198*

Decisiveness

−0.186

0.072**

0.486

0.215**

−0.099

0.069

−0.604

0.210***

Agreeableness

0.270

0.063***

−0.035

0.224

0.085

0.062

0.556

0.128***

Financial Prudence

−0.138

0.076*

−0.468

0.292

−0.080

0.075

−0.054

0.174

Financial leverage

−0.068

0.003***

−0.065

0.013***

−0.065

0.003***

−0.068

0.004***

R&D intensity

−0.247

0.040***

−0.185

0.087**

−0.242

0.044***

−0.247

0.08***

Firm size

0.253

0.041***

0.703

0.094***

0.345

0.035***

0.155

0.106

Firm age

−0.033

0.002***

−0.011

0.005**

−0.035

0.002***

−0.039

0.005***

Sales growth

0.031

0.002***

0.016

0.009*

0.025

0.003***

0.039

0.003***

Capital intensity

0.045

0.028

−0.276

0.100***

0.030

0.031

0.079

0.049

Unlisted

0.575

0.171***

0.665

0.332**

1.257

0.282***

Medium-sized firms

−0.633

0.162***

Small-sized firms

−0.497

0.217**

Sector

Yes

Yes

Yes

Yes

Year

Yes

Yes

Yes

Yes

Location

Yes

Yes

Yes

Yes

Obs.

85,175

5469

48,636

31,070