Table 2 Correlation analysis ROA ROE... | Emerald Publishing

Table 2

Correlation analysis

	ROA	ROE	Tobins' Q	Stock return	B_SIZE	B_IDP	FEM_DIRECT	FAM_DUAL	BOARD_DILIGENCE	AC_SIZE	AC_COMP	AC_DILIGENCE	AC_HEAD	Log_Asset	Age
ROA	1.000
ROE	0.3429*	1.000
Tobins'Q	0.3905*	0.1547*	1.000
Stock return	0.0846	0.1989*	−0.4257*	1.000
B_SIZE	0.3489***	0.1137	−0.0366	0.0163	1.000
B_IDP	0.1384***	0.1032	−0.1819*	0.4376*	0.2666*	1.000
FEM_DIRECT	0.0176	−0.1520***	−0.0182	0.0218	0.0213	0.1098	1.000
FAM_DUAL	0.0100	−0.1688*	−0.0256	−0.0500	−0.0809	0.1159*	0.3603*	1.000
BOARD_DILIGENCE	0.2262*	−0.0199	0.0340	0.0160	0.2046*	0.0089	−0.0922	−0.1807*	1.000
AC_SIZE	0.0484	−0.0827	−0.1482*	−0.0069	0.2414*	−0.1582*	−0.1007	−0.2352*	0.2211*	1.000
AC_COMP	0.1503**	−0.0685	−0.0636	0.2710**	0.0862	0.2340*	0.0182	0.1173*	0.1872*	0.0209	1.000
AC_DILIGENCE	0.0792	−0.0723	0.0512	−0.0219	0.2315*	0.2594*	−0.0433	0.1354*	−0.0355	−0.1360*	0.1358*	1.000
AC_HEAD	0.0995	0.0642	−0.3486*	0.5866*	0.0047	0.3709*	−0.0502	0.0497	0.0519	−0.0660	0.2730*	0.0052	1.000
Log_Asset	0.5783***	0.0735	0.1104	0.3329*	0.3683*	0.4662*	0.0521	0.0610	0.1852*	0.0783	0.3529*	0.2369*	0.2750*	1.000
Age	−0.1299*	−0.1858*	−0.1464*	0.0806	0.0208	0.0372	−0.2009*	0.1075	0.1637*	0.2973*	0.1493*	0.0504	0.2701*	0.2365*	1.000

	ROA	ROE	Tobins' Q	Stock return	B_SIZE	B_IDP	FEM_DIRECT	FAM_DUAL	BOARD_DILIGENCE	AC_SIZE	AC_COMP	AC_DILIGENCE	AC_HEAD	Log_Asset	Age
ROA	1.000
ROE	0.3429*	1.000
Tobins'Q	0.3905*	0.1547*	1.000
Stock return	0.0846	0.1989*	−0.4257*	1.000
B_SIZE	0.3489***	0.1137	−0.0366	0.0163	1.000
B_IDP	0.1384***	0.1032	−0.1819*	0.4376*	0.2666*	1.000
FEM_DIRECT	0.0176	−0.1520***	−0.0182	0.0218	0.0213	0.1098	1.000
FAM_DUAL	0.0100	−0.1688*	−0.0256	−0.0500	−0.0809	0.1159*	0.3603*	1.000
BOARD_DILIGENCE	0.2262*	−0.0199	0.0340	0.0160	0.2046*	0.0089	−0.0922	−0.1807*	1.000
AC_SIZE	0.0484	−0.0827	−0.1482*	−0.0069	0.2414*	−0.1582*	−0.1007	−0.2352*	0.2211*	1.000
AC_COMP	0.1503**	−0.0685	−0.0636	0.2710**	0.0862	0.2340*	0.0182	0.1173*	0.1872*	0.0209	1.000
AC_DILIGENCE	0.0792	−0.0723	0.0512	−0.0219	0.2315*	0.2594*	−0.0433	0.1354*	−0.0355	−0.1360*	0.1358*	1.000
AC_HEAD	0.0995	0.0642	−0.3486*	0.5866*	0.0047	0.3709*	−0.0502	0.0497	0.0519	−0.0660	0.2730*	0.0052	1.000
Log_Asset	0.5783***	0.0735	0.1104	0.3329*	0.3683*	0.4662*	0.0521	0.0610	0.1852*	0.0783	0.3529*	0.2369*	0.2750*	1.000
Age	−0.1299*	−0.1858*	−0.1464*	0.0806	0.0208	0.0372	−0.2009*	0.1075	0.1637*	0.2973*	0.1493*	0.0504	0.2701*	0.2365*	1.000

Note(s): ***, **, and * represent significance at the 1, 5 and 10% level, respectively