Table 3. Correlation matrix Variables 1... | Emerald Publishing

Table 3.

Correlation matrix

Variables	1	2	3	4	5	6	7	8	9	10	11
1 CSLevel	1
2 %WomenBoard	0.14	1
3 FemCEO	0.09	0.26*	1
4 FemChair	0.17*	0.55*	0.01	1
5 avgageBoard	0.01	−0.09	−0.1	−0.08	1
6 ExtCEO	0.12	0.17*	−0.27*	0.15	0.18*	1
7 SizeBoard	−0.05	0.01	0.02	0.14	0.12	0.26*	1
8 VolReporter	0.02	0.15	−0.03	−0.06	−0.02	0.09	0.09	1
9 ROA	0.08	−0.09	0.06	−0.19*	−0.02	−0.07	−0.26*	−0.14	1
10 Leverage	−0.02	0.02	0.01	0.09	0.11	0	−0.04	−0.08	−0.09	1
11 FirmSize	−0.09	−0.11	−0.1	−0.06	0.08	0.07	0.09	−0.19*	−0.08	0	1

Variables	1	2	3	4	5	6	7	8	9	10	11
1 CSLevel	1
2 %WomenBoard	0.14	1
3 FemCEO	0.09	0.26*	1
4 FemChair	0.17*	0.55*	0.01	1
5 avgageBoard	0.01	−0.09	−0.1	−0.08	1
6 ExtCEO	0.12	0.17*	−0.27*	0.15	0.18*	1
7 SizeBoard	−0.05	0.01	0.02	0.14	0.12	0.26*	1
8 VolReporter	0.02	0.15	−0.03	−0.06	−0.02	0.09	0.09	1
9 ROA	0.08	−0.09	0.06	−0.19*	−0.02	−0.07	−0.26*	−0.14	1
10 Leverage	−0.02	0.02	0.01	0.09	0.11	0	−0.04	−0.08	−0.09	1
11 FirmSize	−0.09	−0.11	−0.1	−0.06	0.08	0.07	0.09	−0.19*	−0.08	0	1

Note:

*Significant at 5% level

Source: Authors’ own work