Table 4 Correlation matrix of the study...

Table 4

Correlation matrix of the study variables

	Lev	Cgi	Csr	Size	Capex	Enlist	Liq
Lev	1
Cgi	0.061^**	1
Csr	−0.026	−0.110^***	1
Size	−0.013	−0.042	0.284^***	1
Capex	−0.087^***	0.001	−0.045	0.044	1
Enlist	−0.001	−0.057^**	0.093^***	0.112^***	0.036	1
Liq	−0.210^***	−0.076^***	−0.042	−0.020	0.135^***	0.123^***	1

	Lev	Cgi	Csr	Size	Capex	Enlist	Liq
Lev	1
Cgi	0.061^**	1
Csr	−0.026	−0.110^***	1
Size	−0.013	−0.042	0.284^***	1
Capex	−0.087^***	0.001	−0.045	0.044	1
Enlist	−0.001	−0.057^**	0.093^***	0.112^***	0.036	1
Liq	−0.210^***	−0.076^***	−0.042	−0.020	0.135^***	0.123^***	1

Note(s): ** and *** indicate statistical significance at the 95% and 99% confidence levels, respectively

Source(s): Authors’ own work

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