Table 4

Pearson correlation matrix

VAICCEEHCESCECARBSNPLTLCINEFFIDIVLEVGDPINF
VAIC1           
CEE0.51***1          
HCE0.99***0.49***1         
SCE0.95***0.57***0.64***1        
CAR0.090.14***0.080.10*1       
BS−0.39***−0.39***−0.38***−0.41***−0.0321      
NPLTL−0.49***−0.41***−0.48***−0.58***−0.23***0.47***1     
CINEFF−0.62***−0.66***−0.61***−0.67***−0.13**0.23***0.33***1    
IDIV−0.080.21***−0.07−0.17***−0.13**0.19***0.49***−0.20***1   
LEV−0.35***−0.41***−0.35***−0.36***−0.34***0.0450.30***0.38***−0.051  
GDP−0.20***−0.26***−0.19***−0.22***0.010.19***0.09*0.23***−0.11**0.10*1 
INF0.22***0.21***0.21***0.22***−0.09*−0.21***−0.09−0.15***−0.09*−0.03−0.081

Note(s): Total number of observations 318; ***correlation is significant at 1% level (2-tailed); **correlation is significant at 5% level (2-tailed); *correlation is significant at 10% level (2-tailed); All variables are winsorized at the 5% level

Source(s): Table created by authors

[ViewLarge]
This Feature Is Available To Subscribers Only

or Create an Account

Close subscription notice
Close access options