Table 4. Pearson correlation matrix... | Emerald Publishing

Table 4.

Pearson correlation matrix

Sample	ROA	ROE	NWCR	Growth	Leverage	Size	GDP	Cash
ROA	1
ROE	0.390809 ^***	1
NWCR	−0.12462 ^***	−0.16386 ^***	1
Growth	0.171633 ^***	0.137923 ^***	−0.13761 ^***	1
Leverage	−0.1431 ^***	0.050838	−0.20168 ^***	0.078221 ^**	1
Size	0.138977 ^***	0.102365 ^***	−0.14412 ^***	0.082705 ^***	0.065163 ^*	1
GDP	0.131512 ^***	0.070265 ^**	−0.04776	0.06733 ^*	0.044262	0.142652 ^***	1
Cash	−0.10136 ^***	−0.01562	0.032457	−0.23565 ^***	−0.24056 ^***	0.047614	−0.01486	1

Sample	ROA	ROE	NWCR	Growth	Leverage	Size	GDP	Cash
ROA	1
ROE	0.390809^***	1
NWCR	−0.12462^***	−0.16386^***	1
Growth	0.171633^***	0.137923^***	−0.13761^***	1
Leverage	−0.1431^***	0.050838	−0.20168^***	0.078221^**	1
Size	0.138977^***	0.102365^***	−0.14412^***	0.082705^***	0.065163^*	1
GDP	0.131512^***	0.070265^**	−0.04776	0.06733^*	0.044262	0.142652^***	1
Cash	−0.10136^***	−0.01562	0.032457	−0.23565^***	−0.24056^***	0.047614	−0.01486	1

Notes:

*

Significant @ 10%;

**

Significant @ 5%; and

***

Significant @ 1%