<p>We use financial ratios of eleven countries such as Malaysia, Japan, USA, Canada, Brazil, Thailand, Indonesia, China, India, Australia, and Cayman Islands in retail industry over the period of 2008 to 2012 to examine corporate characteristics. Hypothesis one is that there are statistically significant differences of financial ratios in retail industry of 11 Asian and American countries. This statement is supported by results of Kruskal Wallis Test. By ANOVA, ROE between Brazil and Thailand,

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... nd solvency ratio among Japan, Canada, Thailand and Australia are statistically significantly different from each other.Hypothesis two: Profitability ratios of Japanese Companies are the lowest among 11 countries. This hypothesis is supported partially by ROA except India, both ROE and ROCE except India and Brazil among eleven countries. Not supported by profit margin. Hypothesis 3: Relationship between sales growth ratio and profitability ratios is positive. The positive relationship can be seen in correlations analysis with statistically significant value of sales growth ratio with ROE, ROCE and ROA except profit margin.</p>