Table 6

Innovative startups: correlation matrix

12345678910
1Firm growth1.00         
2Female management−0.001.00        
3Age−0.190.021.00       
4Size−0.160.010.571.00      
5Tangibility−0.030.010.160.161.00     
6Profitability−0.130.030.110.090.021.00    
7Debt−0.050.030.300.450.070.031.00   
8Cash Holdings0.070.01−0.19−0.18−0.210.01−0.111.00  
9Foreign management−0.000.020.000.010.010.010.01−0.021.00 
10Venture Capital0.01−0.00−0.090.07−0.09−0.160.020.14−0.011.00

Note(s): Correlations greater than 0.05 and lower than −0.05 are statistically significant at the 0.05 level or lower

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