Table 4. Correlation matrix No.... | Emerald Publishing

Table 4.

Correlation matrix

No.	Variables	1	2	3	4	5	6	7	8	9	10	11	12	13	14	15	16	17	18
1	BoDs meeting	1.00
2	AuC meeting	0.37	1.00
3	RemC meeting	0.37	0.56	1.00
4	Post	0.08	0.10	0.17	1.00
5	Mandatory adopters	0.01	0.12	0.04	0.10	1.00
6	First adopters	−0.03	−0.04	−0.01	0.13	0.17	1.00
7	BoDs size	−0.01	0.36	0.32	0.05	0.03	0.07	1.00
8	BoDs independence	0.27	0.36	0.37	0.17	0.16	−0.10	0.09	1.00
9	BoDs executive	−0.29	−0.40	−0.36	−0.10	−0.10	−0.06	−0.32	−0.45	1.00
10	CEO age	−0.15	0.02	−0.13	0.02	0.02	−0.02	0.10	−0.02	0.04	1.00
11	CEO duality	−0.03	−0.19	−0.25	−0.09	0.00	−0.01	−0.20	−0.17	0.11	0.26	1.00
12	CEO female	−0.06	−0.05	−0.07	0.03	−0.15	−0.09	−0.09	−0.02	0.08	−0.17	−0.15	1.00
13	Chair female	−0.01	0.07	0.03	0.12	−0.21	−0.01	−0.11	0.02	−0.05	−0.04	−0.21	−0.07	1.00
14	Firm size	0.25	0.62	0.54	0.04	0.13	0.05	0.51	0.40	−0.49	−0.03	−0.24	−0.08	0.05	1.00
15	Leverage	−0.26	0.04	−0.02	0.03	−0.02	−0.07	0.13	−0.06	0.10	0.00	−0.01	0.10	0.00	0.00	1.00
16	Loss t−1	0.05	−0.14	−0.14	−0.07	−0.02	−0.01	−0.19	−0.03	0.04	−0.03	−0.01	0.03	−0.03	−0.24	−0.31	1.00
17	sales growth	−0.06	0.02	0.03	−0.03	−0.02	0.05	0.09	−0.04	−0.02	0.00	0.05	−0.03	−0.05	0.07	0.13	−0.11	1.00
18	ROA	−0.17	0.14	0.20	0.01	−0.01	−0.02	0.24	0.01	−0.08	−0.03	0.01	−0.04	−0.07	0.20	0.44	−0.47	0.29	1.00

Source: Authors’ own creation