Correlation matrix
| Full-sample: 1/02/2012 12/31/2021 | Sub-sample: 1/01/2020 12/31/2021 | ||||||
|---|---|---|---|---|---|---|---|
| LN_BON | LN_EXC | LN_JCI | LN_BON | LN_EXC | LN_JCI | ||
| LN_BON | 1 | LN_BON | 1 | ||||
| LN_EXC | 0.443*** | 1 | LN_EXC | 0.683*** | 1 | ||
| LN_JCI | −0.033** | 0.690*** | 1 | LN_JCI | −0.846*** | −0.682*** | 1 |
| Full-sample: 1/02/2012 12/31/2021 | Sub-sample: 1/01/2020 12/31/2021 | ||||||
|---|---|---|---|---|---|---|---|
| LN_BON | LN_EXC | LN_JCI | LN_BON | LN_EXC | LN_JCI | ||
| LN_BON | 1 | LN_BON | 1 | ||||
| LN_EXC | 0.443*** | 1 | LN_EXC | 0.683*** | 1 | ||
| LN_JCI | −0.033** | 0.690*** | 1 | LN_JCI | −0.846*** | −0.682*** | 1 |
Note(s): *** = 1% level of significance, ** = 5% level of significance, * = 10% level of significance
Source(s): Authors’ calculations
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