Variance inflation factor
| Variable | VIF | 1/VF |
|---|---|---|
| Panel A | ||
| Proportion of 20% | 1.09 | 0.91 |
| Board size | 1.41 | 0.69 |
| Independent directors | 1.36 | 0.73 |
| CEO duality | 1.36 | 0.73 |
| Firm size | 1.41 | 0.70 |
| Industry | ||
| Banking | 2.73 | 0.36 |
| Manufacturing | 2.06 | 0.48 |
| High tech | 1.68 | 0.59 |
| Service | 1.27 | 0.78 |
| Mean VIF | 1.60 | |
| Panel B | ||
| Proportion of 33% | 1.07 | 0.93 |
| Board size | 1.43 | 0.70 |
| Independent directors | 1.36 | 0.73 |
| CEO duality | 1.35 | 0.70 |
| Firm size | 1.42 | 0.70 |
| Industry | ||
| Banking | 2.71 | 0.36 |
| Manufacturing | 2.05 | 0.48 |
| High tech | 1.67 | 0.59 |
| Service | 1.29 | 0.77 |
| Mean VIF | 1.59 |
| Variable | VIF | 1/VF |
|---|---|---|
| Proportion of 20% | 1.09 | 0.91 |
| Board size | 1.41 | 0.69 |
| Independent directors | 1.36 | 0.73 |
| CEO duality | 1.36 | 0.73 |
| Firm size | 1.41 | 0.70 |
| Industry | ||
| 2.73 | 0.36 | |
| 2.06 | 0.48 | |
| 1.68 | 0.59 | |
| 1.27 | 0.78 | |
| Mean VIF | 1.60 | |
| Proportion of 33% | 1.07 | 0.93 |
| Board size | 1.43 | 0.70 |
| Independent directors | 1.36 | 0.73 |
| CEO duality | 1.35 | 0.70 |
| Firm size | 1.42 | 0.70 |
| Industry | ||
| 2.71 | 0.36 | |
| 2.05 | 0.48 | |
| 1.67 | 0.59 | |
| 1.29 | 0.77 | |
| Mean VIF | 1.59 |
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