Correlation matrix
| CEO EL COMP | ENS | SOS | GS | INSOWN | ROE | ROA | FIRM SIZE | FIN LEV | CEO TEN | BOARD IND | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| CEO EL COMP | 1 | ||||||||||
| ENS | 0.057+ | 1 | |||||||||
| SOS | −0.017 | −0.02 | 1 | ||||||||
| GS | −0.021 | −0.16*** | 0.018 | 1 | |||||||
| INSOWN | −0.015 | −0.014 | −0.0058 | −0.025 | 1 | ||||||
| ROE | −0.036 | 0.12*** | −0.049 | 0.044 | 0.041 | 1 | |||||
| ROA | −0.038 | 0.061* | 0.0095 | 0.03 | 0.11*** | 0.68*** | 1 | ||||
| FIRM SIZE | 0.047 | 0.14*** | −0.057+ | −0.095** | −0.14*** | 0.14*** | 0.057+ | 1 | |||
| FIN LEV | 0.039 | 0.11*** | −0.053+ | −0.011 | −0.027 | 0.35*** | −0.13*** | 0.14*** | 1 | ||
| CEO TEN | −0.027 | −0.097** | 0.0073 | −0.10** | −0.094** | −0.078* | −0.15*** | 0.14*** | 0.026 | 1 | |
| BOARD IND | 0.015 | −0.046 | 0.12*** | 0.071* | −0.00098 | −0.037 | −0.056+ | −0.0047 | 0.038 | −0.037 | 1 |
| CEO EL COMP | ENS | SOS | GS | INSOWN | ROE | ROA | FIRM SIZE | FIN LEV | CEO TEN | BOARD IND | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| CEO EL COMP | 1 | ||||||||||
| ENS | 0.057+ | 1 | |||||||||
| SOS | −0.017 | −0.02 | 1 | ||||||||
| GS | −0.021 | −0.16*** | 0.018 | 1 | |||||||
| INSOWN | −0.015 | −0.014 | −0.0058 | −0.025 | 1 | ||||||
| ROE | −0.036 | 0.12*** | −0.049 | 0.044 | 0.041 | 1 | |||||
| ROA | −0.038 | 0.061* | 0.0095 | 0.03 | 0.11*** | 0.68*** | 1 | ||||
| FIRM SIZE | 0.047 | 0.14*** | −0.057+ | −0.095** | −0.14*** | 0.14*** | 0.057+ | 1 | |||
| FIN LEV | 0.039 | 0.11*** | −0.053+ | −0.011 | −0.027 | 0.35*** | −0.13*** | 0.14*** | 1 | ||
| CEO TEN | −0.027 | −0.097** | 0.0073 | −0.10** | −0.094** | −0.078* | −0.15*** | 0.14*** | 0.026 | 1 | |
| BOARD IND | 0.015 | −0.046 | 0.12*** | 0.071* | −0.00098 | −0.037 | −0.056+ | −0.0047 | 0.038 | −0.037 | 1 |
Note(s): +p < 0.10, *p < 0.05, **p < 0.01, ***p < 0.001
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