Table 3 Correlation matrix.

From: Nexus between boardroom independence and firm financial performance: evidence from South Asian emerging market

 

Board independence

Board size

CEO duality

Liquidity ratio

Firm’s size

Leverage

Growth

Profit margin

Payout ratio

Board independence

1

        

Board size

−0.1356***

1

       

CEO duality

−0.0783***

−0.307***

1

      

Liquidity ratio

−0.00056

−0.00041

−0.0171

1

     

Firm’s size

0.0587***

0.265***

−0.218***

0.138***

1

    

Leverage

0.020789

−0.041***

0.00345

−0.1407***

−0.311***

1

   

Growth

0.0160

0.0335

0.0196

0.0248

0.0071

0.0043

1

  

Profit margin

0.0278

0.038**

−0.012

0.105***

0.100***

−0.04***

0.12***

1

 

Payout ratio

0.0135

0.019

0.00054

0.095***

0.105***

−0.052***

−0.019

0.07***

1

  1. **, ***, Denotes significant at the 5% and 1% level respectively.
Back to article page