Table 2 Correlation analysis Variables... | Emerald Publishing

Table 2

Correlation analysis

Variables	(1)	(2)	(3)	(4)	(5)	(6)	(7)	(8)	(9)	(10)	(11)	(12)	(13)	(14)	(15)	(16)	(17)	(18)
(1) zCULTURE	1.0000
(2) DAQ	−0.010*	1.0000
(3) RDCA	−0.016*	0.066*	1.0000
(4) M_Ability	0.079*	0.072*	0.052*	1.0000
(5) Ln_TA	−0.235*	−0.0080	−0.0010	0.115*	1.0000
(6) Leverage	−0.101*	0.048*	0.031*	−0.084*	0.240*	1.0000
(7) ROA	−0.265*	−0.072*	−0.027*	0.153*	0.433*	0.0020	1.0000
(8) MTB	0.134*	0.055*	0.028*	0.052*	−0.048*	0.482*	−0.133*	1.0000
(9) TANG	0.203*	0.063*	0.015*	0.140*	−0.130*	−0.154*	−0.235*	0.057*	1.0000
(10) Sales_Growth	0.069*	0.112*	0.0030	−0.0030	−0.155*	−0.0080	−0.099*	0.074*	0.057*	1.0000
(11) Capex	−0.185*	0.095*	0.108*	0.027*	0.077*	0.075*	0.138*	−0.0040	−0.0090	0.037*	1.0000
(12) B_Size	−0.065*	−0.240*	0.019*	−0.068*	−0.250*	−0.030*	−0.077*	−0.012*	−0.048*	0.078*	0.043*	1.0000
(13) B_Gender_Div	0.020*	−0.213*	0.0050	−0.081*	−0.315*	−0.029*	−0.094*	0.019*	−0.013*	0.074*	0.0090	0.364*	1.0000
(14) CEO_Dual	−0.084*	−0.023*	0.012*	0.034*	0.125*	0.015*	0.107*	−0.025*	−0.107*	−0.029*	0.050*	0.042*	−0.023*	1.0000
(15) CG	−0.060*	−0.225*	0.022*	−0.075*	−0.311*	−0.058*	−0.077*	−0.031*	−0.041*	0.073*	0.045*	0.298*	0.388*	−0.066*	1.0000
(16) Audit_Com	−0.0100	−0.0080	0.0090	0.0030	0.0080	−0.0050	−0.012*	0.0090	0.016*	−0.017*	−0.0030	−0.0090	−0.0080	−0.0090	−0.0010	1.0000
(17) Audit_Tenure	−0.015*	−0.037*	−0.025*	0.032*	0.152*	0.065*	0.049*	0.018*	−0.034*	−0.047*	−0.026*	−0.011*	0.0070	0.078*	−0.0090	0.052*	1.0000
(18) Int_Intensity	−0.040*	−0.294*	0.073*	−0.023*	−0.193*	0.044*	−0.114*	0.030*	0.019*	0.051*	0.121*	0.447*	0.392*	−0.051*	0.439*	−0.022*	−0.070*	1.000

Variables	(1)	(2)	(3)	(4)	(5)	(6)	(7)	(8)	(9)	(10)	(11)	(12)	(13)	(14)	(15)	(16)	(17)	(18)
(1) zCULTURE	1.0000
(2) DAQ	−0.010*	1.0000
(3) RDCA	−0.016*	0.066*	1.0000
(4) M_Ability	0.079*	0.072*	0.052*	1.0000
(5) Ln_TA	−0.235*	−0.0080	−0.0010	0.115*	1.0000
(6) Leverage	−0.101*	0.048*	0.031*	−0.084*	0.240*	1.0000
(7) ROA	−0.265*	−0.072*	−0.027*	0.153*	0.433*	0.0020	1.0000
(8) MTB	0.134*	0.055*	0.028*	0.052*	−0.048*	0.482*	−0.133*	1.0000
(9) TANG	0.203*	0.063*	0.015*	0.140*	−0.130*	−0.154*	−0.235*	0.057*	1.0000
(10) Sales_Growth	0.069*	0.112*	0.0030	−0.0030	−0.155*	−0.0080	−0.099*	0.074*	0.057*	1.0000
(11) Capex	−0.185*	0.095*	0.108*	0.027*	0.077*	0.075*	0.138*	−0.0040	−0.0090	0.037*	1.0000
(12) B_Size	−0.065*	−0.240*	0.019*	−0.068*	−0.250*	−0.030*	−0.077*	−0.012*	−0.048*	0.078*	0.043*	1.0000
(13) B_Gender_Div	0.020*	−0.213*	0.0050	−0.081*	−0.315*	−0.029*	−0.094*	0.019*	−0.013*	0.074*	0.0090	0.364*	1.0000
(14) CEO_Dual	−0.084*	−0.023*	0.012*	0.034*	0.125*	0.015*	0.107*	−0.025*	−0.107*	−0.029*	0.050*	0.042*	−0.023*	1.0000
(15) CG	−0.060*	−0.225*	0.022*	−0.075*	−0.311*	−0.058*	−0.077*	−0.031*	−0.041*	0.073*	0.045*	0.298*	0.388*	−0.066*	1.0000
(16) Audit_Com	−0.0100	−0.0080	0.0090	0.0030	0.0080	−0.0050	−0.012*	0.0090	0.016*	−0.017*	−0.0030	−0.0090	−0.0080	−0.0090	−0.0010	1.0000
(17) Audit_Tenure	−0.015*	−0.037*	−0.025*	0.032*	0.152*	0.065*	0.049*	0.018*	−0.034*	−0.047*	−0.026*	−0.011*	0.0070	0.078*	−0.0090	0.052*	1.0000
(18) Int_Intensity	−0.040*	−0.294*	0.073*	−0.023*	−0.193*	0.044*	−0.114*	0.030*	0.019*	0.051*	0.121*	0.447*	0.392*	−0.051*	0.439*	−0.022*	−0.070*	1.000

Note(s): This table presents the Pearson correlation coefficients between key variables used in the earnings management analysis. Statistical significance is indicated by asterisks (*)

Source(s): The authors