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Figure . . Parallel boxplots of logTA by year from to , all on the same scale
Figure . . Parallel boxplots of financial ratios and logTA for all companies. he background boxplots
are for all of the data, and the superimposed standard boxplots are for the selected cases, companies
with Total Assets
where the proportion is relatively low; the proportion increases as the fixed capital
ratio increases; and the proportion is fairly constant for the intangibles ratio.
Figure . shows just the data for the bigger companies for all variables, with the
bankrupt companies selected. Outliers still affect most of the second group of ra-
tios, but two features stand out: TL.TA is generally higher, as we would expect from
Table . for the whole dataset, and Ebit.TA is generally lower. It is tempting to draw
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