Table 3 Correlation analysis of variables.

From: Study based on managerial compensation incentives and analyst attention perspectives of corporate digital transformation and sustainability performance

Variables

Dtp

Dig

Analyst

Salary

Size

Lev

Cashflow

Dtp

1

      

Dig

0.059***

1

     

Analyst

0.057***

0.065***

1

    

Salary

0.117***

0.137***

0.280***

1

   

Size

0.202***

0.024***

0.338***

0.421***

1

  

Lev

0.103***

−0.042***

-0.012*

0.120***

0.525***

1

 

Cashflow

0.031***

−0.074***

0.188***

0.127***

0.055***

−0.146***

1

Growth

−0.019***

0.024***

0.184***

0.060***

0.030***

0.024***

0.021***

Indep

−0.0100

0.062***

−0.012**

−0.048***

−0.030***

−0.021***

−0.013**

Dual

−0.047***

0.070***

0.017***

−0.00600

−0.196***

−0.135***

−0.013**

TobinQ

−0.132***

0.094***

0.143***

−0.062***

−0.386***

−0.308***

0.099***

ListAge

0.056***

0.044***

−0.076***

0.080***

0.444***

0.342***

−0.00500

Big4

0.058***

−0.028***

0.126***

0.199***

0.283***

0.086***

0.060***

Opinion

0.016***

0.00300

0.087***

0.049***

0.019***

−0.079***

0.052***

Variables

Growth

Indep

Dual

TobinQ

ListAge

Big4

Opinion

Growth

1

      

Indep

−0.00200

1

     

Dual

0.042***

0.116***

1

    

TobinQ

0.091***

0.036***

0.087***

1

   

ListAge

−0.115***

−0.038***

−0.253***

−0.080***

1

  

Big4

−0.012*

0.013**

−0.058***

−0.071***

0.060***

1

 

Opinion

0.066***

0.00800

0.00100

0.00600

−0.061***

0.016***

1

  1. ***, ** and * respectively indicate that the parameter Estimation is significant at 0.01, 0.05 and 0.1.
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