Table 3.18 showed the correlation between the input and output is low. This result revealed that
the increase of the input do not have much impact on the output. That means the current ratio,
inverse of debt ratio and the inverse of debt-to-equity ratio do not determine the ROE, ROA and
EPS of the companies. The selection of the input and output factors is not appropriate. The
conclusion from this study may not be meaningful. To further confirm the statement, a
comparison of the efficiency of the companies for Case A and Case B was carried out.
Table 3.19. Efficiency comparison of companies for Case A and Case B