Table 4

Correlation matrix year 2009–2011 (N = 1,118)

1234567
1ABS 0.116***0.0240.0480.044−0.045−0.068**
2NAS0.108*** −0.0420.021−0.052*−0.105***−0.023
3AC_MEET−0.0240.007 −0.528***0.0010.110***−0.013
4AC_SIZE0.063**0.045−0.434*** 0.199***−0.095***0.134***
5BOD_BUMI0.0470.0110.069**0.192*** 0.141***0.180***
6LEVERAGE−0.075**−0.067**0.080***−0.080***0.143*** 0.161***
7ASSETS−0.104***0.0130.0060.154***0.177***0.164*** 

Note(s): Please refer to Table 2 for the operational definition. Italicized figures are Pearson correlations. . *, ** and *** represent 10, 5 and 1% significant levels, respectively

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