Correlation matrix
| Mean | SD | 1 | 2 | 3 | 4 | 5 | 6 | 7 | 8 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Firm size | 42.48 | 47.79 | 1 | |||||||
| Industry dummy | 0.28 | 0.45 | 0.29** | 1 | ||||||
| COVID-19 duration expectation | 2.59 | 1.19 | 0.03 | 0.00 | 1 | |||||
| Financial dependence on largest customer | 31.05 | 24.70 | 0.00 | 0.10 | −0.06 | 1 | ||||
| Customer retention | 3.77 | 0.91 | 0.06 | 0.01 | −0.04 | −0.01 | 1 | |||
| Wage subsidy | 0.71 | 0.45 | −0.02 | 0.12 | 0.06 | 0.06 | −0.09 | 1 | ||
| New product development capabilities | 4.82 | 1.24 | 0.05 | 0.04 | −0.04 | −0.06 | 0.36** | −0.07 | 1 | |
| Marketing communications capabilities | 4.63 | 1.33 | −0.03 | −0.08 | −0.02 | −0.14* | 0.38** | −0.07 | 0.63** | 1 |
| Flexibility | 2.56 | 1.00 | −0.14* | −0.08 | 0.03 | −0.04 | 0.12 | 0.13* | 0.12 | 0.16* |
| Mean | SD | 1 | 2 | 3 | 4 | 5 | 6 | 7 | 8 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Firm size | 42.48 | 47.79 | 1 | |||||||
| Industry dummy | 0.28 | 0.45 | 0.29** | 1 | ||||||
| COVID-19 duration expectation | 2.59 | 1.19 | 0.03 | 0.00 | 1 | |||||
| Financial dependence on largest customer | 31.05 | 24.70 | 0.00 | 0.10 | −0.06 | 1 | ||||
| Customer retention | 3.77 | 0.91 | 0.06 | 0.01 | −0.04 | −0.01 | 1 | |||
| Wage subsidy | 0.71 | 0.45 | −0.02 | 0.12 | 0.06 | 0.06 | −0.09 | 1 | ||
| New product development capabilities | 4.82 | 1.24 | 0.05 | 0.04 | −0.04 | −0.06 | 0.36** | −0.07 | 1 | |
| Marketing communications capabilities | 4.63 | 1.33 | −0.03 | −0.08 | −0.02 | −0.14* | 0.38** | −0.07 | 0.63** | 1 |
| Flexibility | 2.56 | 1.00 | −0.14* | −0.08 | 0.03 | −0.04 | 0.12 | 0.13* | 0.12 | 0.16* |
Note(s): **p ≤ 0.01 and *p ≤ 0.05
Source(s): Created by authors