Table 3.

Pearson correlations

Variables(1)(2)(3)(4)(5)(6)(7)(8)(9)(10)(11)(12)(13)(14)
(1) CSRD1
(2) FC0.07**1
(3) PC0.030.021
(4) AUDIT0.11***−0.01−0.011
(5) CASHH−0.02−0.020.000.021
(6) ROA0.10***−0.03−0.03−0.030.21***1
(7) LEV0.01−0.02−0.10***0.020.01−0.21***1
(8) CAPIN0.010.050.09***0.09***0.010.03−0.041
(9) KZ−0.15***0.12***−0.07**−0.06**−0.05*−0.29***0.40***0.22***1
(10) AGE0.13***−0.08***0.020.06*0.02−0.05*0.26***−0.11***0.001
(11) FSIZE0.43***0.11***0.17***0.09***−0.09***0.08***−0.08***−0.21***−0.20***0.10***1
(12) BOARD0.16***0.020.14***0.07**0.06**0.020.04−0.06*−0.07**0.10***0.31***1
(13) INDBM0.15***−0.19***0.020.06**0.020.030.04−0.02−0.07**0.05*0.16***0.51***1
(14) FBM−0.030.22***−0.15***0.01−0.010.04−0.19***0.01−0.000.08**−0.020.24**0.031
Note(s):

This table presents the Pearson pairwise correlation among the variables used in this study. Correlation coefficients marked with an asterisk (*) are statistically significant at the 1, 5 and 10% levels, respectively. Detailed definitions of all variables are provided in  Appendix 1 Table A1

Source(s): Authors’ own work

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