Table 3 Pearson correlation matrix... | Emerald Publishing

Table 3

Pearson correlation matrix

Variable	(1)	(2)	(3)	(4)	(5)	(6)	(7)	(8)	(9)	(10)	(11)	(12)
(1) DivMethod	1
(2) DIV0	(0.748)**	1
(3) DIV50	0.189**	(0.145)*	1
(4) DIVYear	0.072	(0.115)*	(0.039)	1
(5) SDG	0.111	(0.209)**	0.128*	(0.007)	1
(6) SIZE	0.136*	0.139*	(0.065)	(0.089)	0.121*	1
(7) LEV	0.076	0.227**	(0.150)**	0.091	(0.110)	0.700**	1
(8) TobinQ	0.028	(0.087)	0.130*	0.135*	0.149**	(0.388)**	(0.564)**	1
(9) ROA	0.167**	(0.337)**	0.229**	0.176**	0.183**	(0.300)**	(0.631)**	0.493**	1
(10) ROE	0.325**	(0.320)**	0.154**	0.146*	0.137*	0.093	(0.118)*	0.168**	0.721**	1
(11) AGE	0.158**	(0.242)**	0.029	(0.066)	0.112	0.043	(0.037)	0.036	0.072	0.065	1
(12) BGD	(0.063)	0.151**	(0.100)	0.045	(0.033)	0.084	0.178**	0.042	(0.010)	0.029	(0.134)*	1

Variable	(1)	(2)	(3)	(4)	(5)	(6)	(7)	(8)	(9)	(10)	(11)	(12)
(1) DivMethod	1
(2) DIV0	(0.748)**	1
(3) DIV50	0.189**	(0.145)*	1
(4) DIVYear	0.072	(0.115)*	(0.039)	1
(5) SDG	0.111	(0.209)**	0.128*	(0.007)	1
(6) SIZE	0.136*	0.139*	(0.065)	(0.089)	0.121*	1
(7) LEV	0.076	0.227**	(0.150)**	0.091	(0.110)	0.700**	1
(8) TobinQ	0.028	(0.087)	0.130*	0.135*	0.149**	(0.388)**	(0.564)**	1
(9) ROA	0.167**	(0.337)**	0.229**	0.176**	0.183**	(0.300)**	(0.631)**	0.493**	1
(10) ROE	0.325**	(0.320)**	0.154**	0.146*	0.137*	0.093	(0.118)*	0.168**	0.721**	1
(11) AGE	0.158**	(0.242)**	0.029	(0.066)	0.112	0.043	(0.037)	0.036	0.072	0.065	1
(12) BGD	(0.063)	0.151**	(0.100)	0.045	(0.033)	0.084	0.178**	0.042	(0.010)	0.029	(0.134)*	1

Note(s): ** and * show significance at the 0.01 and 0.05 levels, respectively (two-tailed). Negative numbers are presented in parentheses

Source(s): Authors' own work