Table 6 Correlation matrix
A. Entire sample (N = 13,273) | ||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Â | Natural log of total assets | Financial leverage | Profit margin | Asset turnover (sales to assets) | Current ratio | Days cash on hand | Days patients accounts receivable | Average age of plant | Salary to total revenue | Public hospital | ||
Financial Leverage | −0.13 |  |  |  |  |  |  |  |  |  | ||
Profit Margin | 0.21 | −0.26 |  |  |  |  |  |  |  |  | ||
Asset Turnover (Sales to Assets) | −0.47 | 0.37 | −0.10 |  |  |  |  |  |  |  | ||
Current Ratio | −0.02 | −0.31 | 0.20 | −0.18 |  |  |  |  |  |  | ||
Days Cash On Hand | 0.07 | −0.23 | 0.14 | −0.29 | 0.46 |  |  |  |  |  | ||
Days Patients Accounts Receivable | −0.13 | 0.01 | −0.12 | −0.15 | 0.09 | 0.05 |  |  |  |  | ||
Average Age of Plant | 0.05 | −0.06 | −0.02 | −0.02 | −0.02 | 0.03 | 0.12 |  |  |  | ||
Salary to Revenue | −0.27 | −0.05 | −0.38 | 0.04 | −0.05 | 0.08 | 0.19 | 0.10 |  |  | ||
Public Hospital | −0.22 | −0.17 | −0.02 | −0.10 | 0.17 | 0.22 | 0.17 | 0.02 | 0.27 |  | ||
Not-for-profit Hospital | 0.29 | −0.15 | −0.01 | −0.12 | −0.05 | 0.05 | −0.16 | 0.12 | 0.07 | −0.61 | ||
B. Sub-sample with non-missing values for Urban Hospital and Uncompensated Care Cost (N = 9,570) | ||||||||||||
| Â | Natural log of total assets | Financial leverage | Profit margin | Asset turnover (sales to assets) | Current ratio | Days cash on hand | Days patients accounts receivable | Average age of plant | Salary to total revenue | Uncompensated care cost to revenue | Public hospital | Not-for-profit hospital |
Financial Leverage | −0.18 |  |  |  |  |  |  |  |  |  |  |  |
Profit Margin | 0.21 | −0.23 |  |  |  |  |  |  |  |  |  |  |
Asset Turnover (Sales to Assets) | −0.50 | 0.38 | −0.07 |  |  |  |  |  |  |  |  |  |
Current Ratio | 0.01 | −0.30 | 0.19 | −0.16 |  |  |  |  |  |  |  |  |
Days Cash On Hand | 0.12 | −0.22 | 0.11 | −0.28 | 0.41 |  |  |  |  |  |  |  |
Days Patients Accounts Receivable | −0.09 | −0.02 | −0.10 | −0.16 | 0.08 | 0.04 |  |  |  |  |  |  |
Average Age of Plant | 0.09 | −0.08 | 0.01 | −0.04 | −0.02 | 0.04 | 0.10 |  |  |  |  |  |
Salary to Revenue | −0.17 | −0.07 | −0.39 | 0.00 | −0.04 | 0.11 | 0.19 | 0.09 |  |  |  |  |
Uncompensated Care Cost to Revenue | −0.06 | 0.10 | −0.18 | 0.13 | −0.05 | −0.02 | 0.14 | 0.03 | 0.36 |  |  |  |
Public Hospital | −0.15 | −0.16 | −0.04 | −0.10 | 0.14 | 0.20 | 0.17 | 0.02 | 0.26 | 0.12 |  |  |
Not-for-profit Hospital | 0.31 | −0.18 | −0.01 | −0.15 | −0.01 | 0.11 | −0.15 | 0.15 | 0.14 | −0.07 | −0.54 |  |
Urban Hospital | 0.46 | 0.09 | 0.01 | 0.05 | −0.11 | −0.07 | −0.11 | 0.05 | −0.12 | −0.00 | −0.23 | 0.13 |