Table AII

Multicollinearity results for the Cement sector

VIF1/VIF
INED3.1650.316
NED3.0170.331
BDS2.3540.425
LEV1.7980.556
CEO TEN1.6920.591
IOWNS1.5670.638
FMD1.5360.651
LOG ASST1.4310.699
DUALLITY1.1590.862
BOWNS1.0270.974
Mean VIF1.875

Notes: COE, cost of equity; BOWNS, block ownership; IOWNS, inside ownership; NED, non-executive directors; INED, independent non-executive directors; BDS, board size; FMD, female directors; DUA, CEO duality; CEO TEN, CEO tenure; LEV, leverage; LNTA, LOG of total assets

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