Table 1.

Correlation matrix

Variables(1)(2)(3)(4)(5)(6)(7)(8)(9)(10)
(1) CORPREP1.00         
(2) BOARDSIZ0.33***1.00        
(3) BOARDGEN0.13***0.011.00       
(4) INDEBOARD0.13***−0.020.24***1.00      
(5) AUDITBOARD0.21***0.20***0.07*0.36***1.00     
(6) ROA0.07*0.04−0.04−0.08*−0.041.00    
(7) LEVERAGE−0.17***−0.10***0.08*−0.09**−0.10***−0.52***1.00   
(8) FIRMSIZE0.53***0.34***−0.03−0.030.22***0.07−0.231.00  
(9) CSRCOMM0.52***0.12***0.09**0.11**0.17***0.05−0.10**0.36***1.00 
(10) GLOBALCOM0.47***0.28***0.050.09*0.24***0.00−0.030.37***0.31***1.00
(11) INDUSTRY0.17***0.26***−0.04−0.030.040.010.07*0.060.040.12***

Notes:

***<0.01; **<0.05; *<0.10

Source: Authors’ own creation

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