Table 4 Pair-wise correlation matrix (1)... | Emerald Publishing

Table 4

Pair-wise correlation matrix

	(1)	(2)	(3)	(4)	(5)	(6)	(7)	(8)	(9)	(10)	(11)	(12)	(13)	(14)
(1) ${R e v G r o w t h 3}_{i}$	–
(2) ${R e v G r o w t h 5}_{i}$	0.69***	–
(3) ${E m p G r o w t h 3}_{i}$	0.21***	0.24***	–
(4) ${E m p G r o w t h 5}_{i}$	0.22***	0.32***	0.76***	–
(5) ${S e c t o r S p e c L}_{i k t}$	0.01	−0.03	−0.03	0.01	–
(6) ${S e c t o r S p e c S}_{i k t}$	0.07**	−0.00	0.08**	0.05	0.59***	–
(7) ${F o u n d e r S p e c}_{i k t}$	−0.00	−0.03	0.04	0.04	0.17***	0.18***	–
(8) ${B a c k g r o u n d s}_{i k t}$	0.01	0.06	0.01	−0.04	−0.13***	−0.12***	−0.36***	–
(9) ${R e s e a r c h e r}_{i}$	0.04	0.04	0.07**	0.03	−0.07**	−0.06*	−0.09**	0.04	–
(10) ${R e s E x p o s u r e}_{i k}$	0.01	0.02	0.03	0.04	−0.09**	0.00	−0.13***	0.08**	0.24***	–
(11) ${S e l e c t i v i t y}_{i k t}$	0.00	0.04	0.08**	0.12***	−0.10***	−0.03	−0.07*	0.02	0.04	0.07**	–
(12) ${l n I n c T i m e}_{i}$	0.00	−0.03	−0.03	−0.06	−0.02	0.04	0.00	−0.09**	0.09***	0.03	0.00	–
(13) ${l n I n c A g e}_{k}$	0.03	0.07**	0.00	0.04	−0.03	−0.05	−0.02	0.16***	0.03	0.19***	0.16***	0.02	–
(14) ${I n c E m p}_{k}$	−0.05	−0.02	−0.04	−0.04	−0.10***	−0.03	0.01	0.20***	0.13***	0.38***	−0.05	0.05	0.25***	–
(15) ${U n i v e r s i t y}_{k}$	0.07*	0.06	−0.03	−0.02	−0.15***	−0.02	−0.10***	0.12***	0.14***	0.29***	0.01	−0.00	0.06*	0.15***

Note(s): Pearson correlation coefficient reported. ^*, ^** and ^*** denote statistical significance at the 10%, 5% and 1% levels respectively