Table 4 Correlation matrix.
From: Non-financial information farsightedness and capital market information efficiency
SYNCH | Nonfinancial_farsightedness | InsInvestor | VOL | Lev | Size | Book_to_Market | Growth | |
|---|---|---|---|---|---|---|---|---|
SYNCH | 1.000 | |||||||
Nonfinancial_farsightedness | −0.052*** | 1.000 | ||||||
InsInvestor | −0.041*** | −0.020** | 1.000 | |||||
VOL | 0.031*** | −0.017** | −0.355*** | 1.000 | ||||
Lev | −0.036*** | −0.043*** | 0.212*** | −0.074*** | 1.000 | |||
Size | −0.054*** | 0.000 | 0.396*** | −0.346*** | 0.429*** | 1.000 | ||
Book_to_Market | −0.043*** | −0.016 | 0.144*** | −0.304*** | 0.416*** | 0.563*** | 1.000 | |
Growth | 0.006 | −0.008 | 0.065*** | 0.024*** | 0.056*** | 0.044*** | −0.054*** | 1.000 |
Board | −0.005 | −0.036*** | 0.233*** | −0.090*** | 0.154*** | 0.211*** | 0.142*** | 0.010 |
Age | −0.013 | −0.097*** | 0.249*** | −0.168*** | 0.255*** | 0.314*** | 0.269*** | −0.057*** |
Roe | −0.003 | −0.010 | 0.201*** | −0.116*** | −0.130*** | 0.166*** | −0.113*** | 0.274*** |
Top1 | −0.027*** | 0.017** | 0.567*** | −0.213*** | 0.103*** | 0.216*** | 0.132*** | 0.027*** |
Shrcr | −0.015* | 0.042*** | 0.603*** | −0.333*** | 0.014* | 0.298** | 0.106*** | 0.093*** |
Roa | 0.007 | −0.001 | 0.158*** | −0.110*** | −0.317*** | 0.076*** | −0.228*** | 0.248*** |
Dual | 0.019** | 0.012 | −0.205*** | 0.059*** | −0.089*** | −0.087*** | −0.121*** | −0.005 |
Big4 | −0.025*** | 0.006 | 0.261*** | −0.156*** | 0.104*** | 0.368*** | 0.149*** | −0.010 |
Audit | 0.001 | 0.006 | 0.047*** | −0.035*** | −0.092*** | 0.065*** | 0.027*** | 0.046*** |
Board | Age | Roe | Top1 | Shrcr | Roa | Dual | Big4 | Audit | |
|---|---|---|---|---|---|---|---|---|---|
SYNCH | |||||||||
Nonfinancial_farsightedness | |||||||||
InsInvestor | |||||||||
VOL | |||||||||
Lev | |||||||||
Size | |||||||||
Book_to_Market | |||||||||
Growth | |||||||||
Board | 1.000 | ||||||||
Age | 0.097*** | 1.000 | |||||||
Roe | 0.066*** | −0.018** | 1.000 | ||||||
Top1 | 0.030*** | 0.013* | 0.132*** | 1.000 | |||||
Shrcr | 0.063*** | −0.149*** | 0.189*** | 0.659*** | 1.000 | ||||
Roa | 0.045*** | −0.080*** | 0.912*** | 0.112*** | 0.187*** | 1.000 | |||
Dual | −0.184*** | −0.157*** | −0.022*** | −0.094*** | −0.037*** | 0.000 | 1.000 | ||
Big4 | 0.117*** | 0.116*** | 0.075*** | 0.169*** | 0.229*** | 0.051*** | −0.055*** | 1.000 | |
Audit | 0.002 | −0.046*** | 0.224*** | 0.069*** | 0.064*** | 0.205*** | −0.003 | 0.028*** | 1.000 |
