Table 5 Variables correlation Variables...

Table 5

Variables correlation

Variables	DTA	FP (ROA)	FP (ROE)	SIZE	AGE	LEV	LIQ	GRO	GDP	INF
DTA	1.000
FP (ROA)	0.088*	1.000
FP (ROE)	0.091*	0.867*	1.000
SIZE	0.319*	−0.060*	0.077*	1.000
AGE	0.076*	0.085*	0.093*	0.073*	1.000
LEV	0.026	−0.390*	−0.022	0.329*	0.093*	1.000
LIQ	−0.049*	0.162*	−0.018	−0.199*	−0.100*	−0.575*	1.000
GRO	0.031	0.135*	0.193*	0.091*	−0.158*	0.074*	−0.034*	1.000
GDP	−0.095*	0.063*	0.080*	−0.044*	−0.079*	−0.001	0.002	0.068*	1.000
INF	−0.091*	−0.022	−0.005	−0.095*	−0.165*	0.040*	−0.056*	−0.010	0.034*	1.000

Variables	DTA	FP (ROA)	FP (ROE)	SIZE	AGE	LEV	LIQ	GRO	GDP	INF
DTA	1.000
FP (ROA)	0.088*	1.000
FP (ROE)	0.091*	0.867*	1.000
SIZE	0.319*	−0.060*	0.077*	1.000
AGE	0.076*	0.085*	0.093*	0.073*	1.000
LEV	0.026	−0.390*	−0.022	0.329*	0.093*	1.000
LIQ	−0.049*	0.162*	−0.018	−0.199*	−0.100*	−0.575*	1.000
GRO	0.031	0.135*	0.193*	0.091*	−0.158*	0.074*	−0.034*	1.000
GDP	−0.095*	0.063*	0.080*	−0.044*	−0.079*	−0.001	0.002	0.068*	1.000
INF	−0.091*	−0.022	−0.005	−0.095*	−0.165*	0.040*	−0.056*	−0.010	0.034*	1.000

Note(s): * signifies a level of significance at 1%. DTA is digital transformation adoption which takes value of 1 if firm engaged in digital transformation and 0 otherwise; FP is firm performance, measured by either ROA (Net income/Total assets) or ROE (Net income/Total equity); SIZE is firm size, measured by ln(Total assets); AGE is firm age, measured by ln(number of operating years); LEV is financial leverage, measured by Total debt/Total assets; LIQ is liquidity, measured by Current assets/Current liabilities; GROW is growth rate, measured by $({Revenue}_{t} - {Revenue}_{(t - 1)}) / {Revenue}_{(t - 1)}$ ⁠; GDP is Gross Domestic Product and INFLA is the inflation rate of Vietnam

Source(s): Authors' estimation

[ViewLarge]

Sharing Unavailable