Table 3 Pairwise correlation matrix and the significance of the variables.

From: Banking disclosure and banking crises in Africa: does board gender diversity play a role?

 

(1)

(2)

(3)

(4)

(5)

(6)

(7)

(8)

Number of Women (1)

1

       

Women on Boards (2)

0.6897

1

      

Bank Disclosure (3)

−0.597***

−0.671***

1

     

LERNER (4)

−0.391***

−0.363***

0.574***

1

    

Own (5)

0.282*

0.213***

0.102***

−0.482***

1

   

lnGDPperCap (6)

0.649*

0.448***

0.325***

−0.131***

−0.107***

1

  

ExRate (7)

−0.221*

0.697*

0.317***

0.1064**

0.092

0.2619***

1

 

InfRate (8)

−0.009

−0.368*

0.357**

−0.0291

0.118*

0.438*

0.1023*

1

  1. Women on Boards = Dummy variable: 1, when a woman is an executive member, and 0 otherwise; Number of women on Boards measured as the proportion of Women on Boards; Bank Disclosure = categorical variable (0–10): level of investor protection through disclosure of ownership and financial information or level of releasing relevant financial information pertaining to a bank (from no disclosure = 0, — to — maximum disclosure = 10); Lerner index is the only measure of competition; Ownership (OWN) is the percentage of board members who hold shares in the bank; Exchange Rate (ExRate) is the Annual Exchange rate per year; GDP per capita (GDPperCap) is the natural logarithm of GDP per capital.
  2. Significance level: ***p < 0.01, **p < 0.05, *p < 0.1.
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