Table 1

Descriptive statistics and correlations

MeanS.D.123456789101112131415
(1) Pay gap7.094.501.000              
(2) Ownership power gap0.150.210.0231.000             
(3) Prestige power gap0.200.200.143***0.194***1.000            
(4) Expert power gap0.090.280.077***0.206***0.237***1.000           
(5) Structural power gap0.130.340.096***0.078***0.093***−0.0141.000          
(6) Celebrity gap2.894.870.0350.0100.0350.0300.086***1.000         
(7) Gender−0.070.370.032−0.0370.109***−0.072**−0.022−0.076**1.000        
(8) Education−0.090.68−0.053*−0.0150.010−0.0210.016−0.0350.0011.000       
(9) ROA6.536.52−0.087***0.056*−0.048*0.078***−0.108***−0.033−0.019−0.0281.000      
(10) Firm age36.6019.800.032−0.187***−0.066**−0.147***0.125***0.120***0.019−0.063**−0.054*1.000     
(11) Firm size01−0.189***−0.0180.014−0.038−0.0370.243***−0.100***0.0140.109***0.0381.000    
(12) Leverage0.280.19−0.007−0.018−0.096***0.000−0.097***−0.0150.030−0.065**−0.020−0.023−0.073*1.000   
(13) Board size10.922.210.057**−0.147***−0.068**−0.054*0.084***0.138***−0.054*−0.011−0.154***0.253***0.092−0.088*1.000  
(14) Board nationality mix0.160.20−0.056**−0.0220.0220.040−0.032−0.016−0.058**−0.0310.002−0.068**0.023*0.0040.067*1.000 
(15) Board gender ratio0.760.09−0.0440.096***0.0370.037−0.074***−0.064**0.089***0.0280.008−0.197***−0.127*0.028−0.075*0.0151.000

Note(s): ***p < 0.01, **p < 0.05, *p < 0.1

precise p-values are available from the authors

Source(s): Authors’ own work

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