This study uses of the statistical tools for descriptive and
quantitative analysis. The mean and standard deviation are
used in the descriptive analysis. Correlation matrix is
constructed to investigate the relationship between independent
variables and dependent variable (ROA). The quantitative
analysis also includes multiple regression analyses. Multiple
regression involves a variable to be explained (the dependent
variable) and additional explanatory variables that are thought
to be associated with changes in the dependent variable. The
multiple regression analysis was employed to explore the
combined effect of the independent variables on profitability
(ROA). The Regression Equation for the sample follows: