Table 3 Correlation matrix EDRS EDRL... | Emerald Publishing

Table 3

Correlation matrix

	EDRS	EDRL	EDRI	EPS	ROA	TSR	TQ	SIZE	LEV	GRO	DSHARE	BSHARE	ISHARE	King IV
EDRS	1
EDRL	0.17^***	1
EDRI	0.810^***	0.582^***	1
EPS	0.158^***	0.178^***	0.171^***	1
ROA	0.101^***	0.124^***	0.111^***	0.199^***	1
TSR	0.066^**	−0.019	0.036	0.145^***	0.109^***	1
TQ	0.127^***	0.236^***	0.189^***	0.112^***	0.443^***	0.083^***	1
SIZE	0.331^***	0.325^***	0.367^***	0.268^***	−0.003	−0.037	−0.023	1
LEV	−0.024	−0.020	−0.036	0.005	−0.038	−0.027	0.001	0.108^***	1
GRO	−0.005	−0.005	−0.015	−0.014	−0.030	0.031	0.010	−0.029	−0.009	1
DSHARE	−0.190^***	−0.219^***	−0.184^***	−0.111^***	−0.055	0.027	−0.035	−0.420^***	−0.027	0.005	1
BSHARE	−0.068^**	0.040	−0.022	−0.018	0.062^**	0.002	0.152^***	−0.020	−0.119^***	−0.056	0.004	1
ISHARE	0.102^***	0.187^***	0.145^***	0.244^***	0.066^**	−0.007	0.061^**	0.313^***	0.015	0.039	−0.189^***	0.001	1
King IV	−0.003	0.025	0.007	−0.285^***	−0.139^***	−0.127^***	−0.135^***	0.141^***	0.011	−0.083^***	−0.059	0.061^**	−0.115^***	1

	EDRS	EDRL	EDRI	EPS	ROA	TSR	TQ	SIZE	LEV	GRO	DSHARE	BSHARE	ISHARE	King IV
EDRS	1
EDRL	0.17^***	1
EDRI	0.810^***	0.582^***	1
EPS	0.158^***	0.178^***	0.171^***	1
ROA	0.101^***	0.124^***	0.111^***	0.199^***	1
TSR	0.066^**	−0.019	0.036	0.145^***	0.109^***	1
TQ	0.127^***	0.236^***	0.189^***	0.112^***	0.443^***	0.083^***	1
SIZE	0.331^***	0.325^***	0.367^***	0.268^***	−0.003	−0.037	−0.023	1
LEV	−0.024	−0.020	−0.036	0.005	−0.038	−0.027	0.001	0.108^***	1
GRO	−0.005	−0.005	−0.015	−0.014	−0.030	0.031	0.010	−0.029	−0.009	1
DSHARE	−0.190^***	−0.219^***	−0.184^***	−0.111^***	−0.055	0.027	−0.035	−0.420^***	−0.027	0.005	1
BSHARE	−0.068^**	0.040	−0.022	−0.018	0.062^**	0.002	0.152^***	−0.020	−0.119^***	−0.056	0.004	1
ISHARE	0.102^***	0.187^***	0.145^***	0.244^***	0.066^**	−0.007	0.061^**	0.313^***	0.015	0.039	−0.189^***	0.001	1
King IV	−0.003	0.025	0.007	−0.285^***	−0.139^***	−0.127^***	−0.135^***	0.141^***	0.011	−0.083^***	−0.059	0.061^**	−0.115^***	1

Note(s): ^*, ^** and ^***, levels of significance at 10, 5 and 1% respectively. All the variables are defined in Table 1

Source(s): Authors’ own creation