Table 2 Correlation matrix, means and... | Emerald Publishing

Table 2

Correlation matrix, means and standard deviations

	Mean	SD	1	2	3	4	5	6	7	8	9
1. ROE	0.05	47.23
2. TMT size	3.68	1.95	−0.011
3. Generation	1.92	0.87	−0.235**	−0.054
4. Firm age	43.22	86.29	−0.144	0.048	0.262**
5.Firm size	1224.52	2034.94	−0.063	0.229	0.148*	0.109
6. Manufacturing^a	–	–	−0.087	0.054	0.245**	0.272**	0.088
7. Service^a	–	–	−0.056	−0.061	−0.064	−0.073	0.164*	−0.549**
8. M&A	0.13	0.87	0.062*	0.099	−0.015	−0.056	0.125*	−0.124	0.115
9. Family-TMT	0.75	0.48	0.032*	−0.045*	0.183*	0.081	0.009	0.033	0.062	0.037*
10. Performance feedback	0.09	21.34	0.038*	0.012*	0.043	0.019*	0.027*	0.24	0.033	0.012	0.015*

	Mean	SD	1	2	3	4	5	6	7	8	9
1. ROE	0.05	47.23
2. TMT size	3.68	1.95	−0.011
3. Generation	1.92	0.87	−0.235**	−0.054
4. Firm age	43.22	86.29	−0.144	0.048	0.262**
5.Firm size	1224.52	2034.94	−0.063	0.229	0.148*	0.109
6. Manufacturing^a	–	–	−0.087	0.054	0.245**	0.272**	0.088
7. Service^a	–	–	−0.056	−0.061	−0.064	−0.073	0.164*	−0.549**
8. M&A	0.13	0.87	0.062*	0.099	−0.015	−0.056	0.125*	−0.124	0.115
9. Family-TMT	0.75	0.48	0.032*	−0.045*	0.183*	0.081	0.009	0.033	0.062	0.037*
10. Performance feedback	0.09	21.34	0.038*	0.012*	0.043	0.019*	0.027*	0.24	0.033	0.012	0.015*

Note(s): ^aDummy variables

*Correlation is significant at the 0.05 level (2-tailed)

**Correlation is significant at the 0.01 level (2-tailed)