Table 8. Correlation analysis Variables... | Emerald Publishing

Table 8.

Correlation analysis

Variables	(MtoB)	(Voting_S)	(IncludedShares)	(Consultation_S)	(Block_S)	(Purchase_S)	(Control_S)	(Opa_S)	(SAs)	(SA_NoV)	(Size)	(Leverage)	(LargeSH)	(ROA)
MtoB	1.000
Voting_S	0.072*	1.000
IncludedShares	0.077*	0.838*	1.000
Consultation_S	0.108*	0.629*	0.574*	1.000
Block_S	0.038	0.845*	0.754*	0.511*	1.000
Purchase_S	0.004	0.342*	0.327*	0.157*	0.312*	1.000
Control_S	0.098*	0.406*	0.388*	0.435*	0.327*	0.139*	1.000
Opa_S	0.005	0.173*	0.152*	0.023	0.049*	0.089*	−0.014	1.000
Sas	0.074*	0.903*	0.800*	0.716*	0.855*	0.448*	0.506*	0.164*	1.000
SA_NoV	0.089*	0.845*	0.772*	0.786*	0.824*	0.490*	0.642*	0.161*	0.937*	1.000
Size	0.057*	−0.029	−0.050*	−0.013	−0.007	−0.027	−0.002	−0.031	−0.008	−0.019	1.000
Leverage	0.006	−0.021	−0.009	0.013	−0.026	0.066*	0.032	0.007	−0.005	0.019	−0.127*	1.000
LargeSH	0.013	−0.159*	−0.075*	−0.155*	−0.168*	0.034	−0.090*	0.082*	−0.158*	−0.145*	−0.001	−0.068*	1.000
ROA	0.144*	0.012	0.007	−0.002	0.024	−0.001	−0.022	−0.051*	−0.002	−0.003	0.108*	−0.063*	0.040*	1.000

Variables	(MtoB)	(Voting_S)	(IncludedShares)	(Consultation_S)	(Block_S)	(Purchase_S)	(Control_S)	(Opa_S)	(SAs)	(SA_NoV)	(Size)	(Leverage)	(LargeSH)	(ROA)
MtoB	1.000
Voting_S	0.072*	1.000
IncludedShares	0.077*	0.838*	1.000
Consultation_S	0.108*	0.629*	0.574*	1.000
Block_S	0.038	0.845*	0.754*	0.511*	1.000
Purchase_S	0.004	0.342*	0.327*	0.157*	0.312*	1.000
Control_S	0.098*	0.406*	0.388*	0.435*	0.327*	0.139*	1.000
Opa_S	0.005	0.173*	0.152*	0.023	0.049*	0.089*	−0.014	1.000
Sas	0.074*	0.903*	0.800*	0.716*	0.855*	0.448*	0.506*	0.164*	1.000
SA_NoV	0.089*	0.845*	0.772*	0.786*	0.824*	0.490*	0.642*	0.161*	0.937*	1.000
Size	0.057*	−0.029	−0.050*	−0.013	−0.007	−0.027	−0.002	−0.031	−0.008	−0.019	1.000
Leverage	0.006	−0.021	−0.009	0.013	−0.026	0.066*	0.032	0.007	−0.005	0.019	−0.127*	1.000
LargeSH	0.013	−0.159*	−0.075*	−0.155*	−0.168*	0.034	−0.090*	0.082*	−0.158*	−0.145*	−0.001	−0.068*	1.000
ROA	0.144*	0.012	0.007	−0.002	0.024	−0.001	−0.022	−0.051*	−0.002	−0.003	0.108*	−0.063*	0.040*	1.000

Note(s):

See Table 2 for variable definitions; *p < 0.1

Source(s): Table created by authors