Table A1 Correlation matrix of linear... | Emerald Publishing

Table A1

Correlation matrix of linear regression explanatory variables

Variables	Size	Variety	Balance	Track record	Geographical distance	Shareholders	Board member	Business angels	Industrial shareholders	Prize for subscription	Equity retention	Fork width	Maximum target	Minimum investment	Share premium
Variety	0.361
Balance	−0.295	0.738
Track record	0.336	0.240	0.049
Geographical distance	0.081	−0.128	−0.207	0.055
Shareholders	−0.013	0.008	0.035	0.085	−0.012
Board member	0.076	0.004	−0.027	−0.023	−0.048	0.053
Business angels	0.184	0.046	−0.055	0.146	0.018	0.268	0.040
Industrial shareholders	−0.014	−0.090	−0.057	0.230	0.040	0.192	0.102	0.158
Prize for subscription	0.128	−0.187	−0.311	0.083	0.159	0.127	0.136	0.072	0.245
Equity retention	−0.127	0.009	0.112	−0.072	−0.021	0.061	0.135	−0.097	0.213	−0.023
Fork width	0.088	−0.237	−0.285	0.332	0.085	0.182	0.028	0.085	0.070	0.124	−0.113
Maximum target	0.231	0.015	−0.124	0.312	0.198	0.264	0.055	0.093	0.179	0.171	−0.012	0.399
Minimum investment	0.269	−0.081	−0.290	−0.018	0.124	0.036	0.077	0.075	0.032	0.065	−0.079	0.188	0.245
Share premium	0.173	0.038	−0.107	0.223	0.116	0.090	−0.140	0.228	−0.111	0.081	−0.535	0.276	0.136	0.155
All-or-nothing	0.212	0.031	−0.096	0.369	0.160	0.053	0.079	0.011	−0.003	0.009	−0.022	0.713	0.353	0.153	0.177

Variables	Size	Variety	Balance	Track record	Geographical distance	Shareholders	Board member	Business angels	Industrial shareholders	Prize for subscription	Equity retention	Fork width	Maximum target	Minimum investment	Share premium
Variety	0.361
Balance	−0.295	0.738
Track record	0.336	0.240	0.049
Geographical distance	0.081	−0.128	−0.207	0.055
Shareholders	−0.013	0.008	0.035	0.085	−0.012
Board member	0.076	0.004	−0.027	−0.023	−0.048	0.053
Business angels	0.184	0.046	−0.055	0.146	0.018	0.268	0.040
Industrial shareholders	−0.014	−0.090	−0.057	0.230	0.040	0.192	0.102	0.158
Prize for subscription	0.128	−0.187	−0.311	0.083	0.159	0.127	0.136	0.072	0.245
Equity retention	−0.127	0.009	0.112	−0.072	−0.021	0.061	0.135	−0.097	0.213	−0.023
Fork width	0.088	−0.237	−0.285	0.332	0.085	0.182	0.028	0.085	0.070	0.124	−0.113
Maximum target	0.231	0.015	−0.124	0.312	0.198	0.264	0.055	0.093	0.179	0.171	−0.012	0.399
Minimum investment	0.269	−0.081	−0.290	−0.018	0.124	0.036	0.077	0.075	0.032	0.065	−0.079	0.188	0.245
Share premium	0.173	0.038	−0.107	0.223	0.116	0.090	−0.140	0.228	−0.111	0.081	−0.535	0.276	0.136	0.155
All-or-nothing	0.212	0.031	−0.096	0.369	0.160	0.053	0.079	0.011	−0.003	0.009	−0.022	0.713	0.353	0.153	0.177