Table 3 Correlation matrix ROA MB ROE... | Emerald Publishing

Table 3

Correlation matrix

	ROA	MB	ROE	CEE	HCE	SCE	VAIC	Size	PC
ROA	1
MB	0.734**	1
ROE	0.790**	0.675**	1
CEE	0.855**	0.757**	0.860**	1
HCE	−0.184**	−0.192**	−0.079	−0.296**	1
SCE	−0.055	−0.140*	0.067	−0.183**	0.475**	1
VAIC	−0.114*	−0.135*	−0.003	−0.220**	0.996**	0.510**	1
Size	0.046	0.089	−0.118*	0.013	0.176**	−0.006	0.176**	1
PC	0.149**	0.149**	0.059	0.083	0.144*	0.231**	0.162**	0.044	1

	ROA	MB	ROE	CEE	HCE	SCE	VAIC	Size	PC
ROA	1
MB	0.734**	1
ROE	0.790**	0.675**	1
CEE	0.855**	0.757**	0.860**	1
HCE	−0.184**	−0.192**	−0.079	−0.296**	1
SCE	−0.055	−0.140*	0.067	−0.183**	0.475**	1
VAIC	−0.114*	−0.135*	−0.003	−0.220**	0.996**	0.510**	1
Size	0.046	0.089	−0.118*	0.013	0.176**	−0.006	0.176**	1
PC	0.149**	0.149**	0.059	0.083	0.144*	0.231**	0.162**	0.044	1

Note(s): ** and * indicate significant at 1 and 5% level, respectively

Source: Authors' compilation