Table A1 Variable correlations Variables... | Emerald Publishing

Table A1

Variable correlations

Variables	SRV	ROAV	LEV	EngCEO	BSize	BEng	BInd	CAPEX	ROA	FSZ	SGROW	CEOG	CEOD
(1) SRV	1.000
(2) ROAV	0.362**	1.000
(3) Leverage	−0.039	−0.079*	1.000
(4) EngCEO	0.156**	0.104**	−0.080*	1.000
(5) Bsize	−0.247*	−0.080*	0.082**	−0.119*	1.000
(6) BEng	0.150*	0.019	−0.109*	0.464*	−0.195*	1.000
(7) BInd	−0.087*	−0.032	0.123*	−0.080*	0.119*	0.009	1.000
(8) CAPEX	0.100**	0.179*	−0.051	0.043	−0.092*	0.111*	−0.098*	1.000
(9) ROA	−0.358*	−0.483*	0.022	−0.142*	0.100*	−0.063	0.040	−0.238*	1.000
(10) FirmSize	−0.422*	−0.409*	0.159**	−0.125*	0.543**	−0.131*	0.232**	−0.185*	0.347**	1.000
(11) SalesGrowth	0.033	0.049	−0.053	0.085*	−0.093*	0.049	−0.032	−0.060	0.056	−0.115*	1.000
(12) CEOG	−0.039	−0.028	0.043	−0.050	0.064	−0.042	−0.036	−0.035	0.057	0.104**	−0.009	1.000
(13) CEOD	0.026	−0.001	−0.064	0.043	−0.006	0.055	−0.091*	0.050	0.039	−0.017	0.016	−0.063	1.000

Variables	SRV	ROAV	LEV	EngCEO	BSize	BEng	BInd	CAPEX	ROA	FSZ	SGROW	CEOG	CEOD
(1) SRV	1.000
(2) ROAV	0.362**	1.000
(3) Leverage	−0.039	−0.079*	1.000
(4) EngCEO	0.156**	0.104**	−0.080*	1.000
(5) Bsize	−0.247*	−0.080*	0.082**	−0.119*	1.000
(6) BEng	0.150*	0.019	−0.109*	0.464*	−0.195*	1.000
(7) BInd	−0.087*	−0.032	0.123*	−0.080*	0.119*	0.009	1.000
(8) CAPEX	0.100**	0.179*	−0.051	0.043	−0.092*	0.111*	−0.098*	1.000
(9) ROA	−0.358*	−0.483*	0.022	−0.142*	0.100*	−0.063	0.040	−0.238*	1.000
(10) FirmSize	−0.422*	−0.409*	0.159**	−0.125*	0.543**	−0.131*	0.232**	−0.185*	0.347**	1.000
(11) SalesGrowth	0.033	0.049	−0.053	0.085*	−0.093*	0.049	−0.032	−0.060	0.056	−0.115*	1.000
(12) CEOG	−0.039	−0.028	0.043	−0.050	0.064	−0.042	−0.036	−0.035	0.057	0.104**	−0.009	1.000
(13) CEOD	0.026	−0.001	−0.064	0.043	−0.006	0.055	−0.091*	0.050	0.039	−0.017	0.016	−0.063	1.000

Note(s): *, ** and *** indicate statistical significance at 10, 5, and 1% levels, respectively. Variables are as defined in Table 1

Source(s): Authors’ own work