Table 4 Correlation matrix.
Variables | (1) | (2) | (3) | (4) | (5) | (6) | (7) | (8) | (9) | (10) | (11) | (12) | (13) | (14) |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
(1) TQ | 1.000 | |||||||||||||
(2) ROA | 0.197*** | 1.000 | ||||||||||||
(3) ROE | 0.192*** | 0.884*** | 1.000 | |||||||||||
(4) ROIC | 0.201*** | 0.971*** | 0.894*** | 1.000 | ||||||||||
(5) CSR | −0.039 | 0.175*** | 0.179*** | 0.187*** | 1.000 | |||||||||
(6) MVAIC | −0.032 | 0.339*** | 0.299*** | 0.296*** | 0.219*** | 1.000 | ||||||||
(7) COVID-19 | 0.243*** | −0.028 | −0.026 | −0.027 | 0.157*** | −0.067* | 1.000 | |||||||
(8) LnSIZE | 0.072** | 0.374*** | 0.368*** | 0.385*** | 0.414*** | 0.359*** | 0.153*** | 1.000 | ||||||
(9) LEVEG | −0.248*** | −0.160*** | −0.159*** | −0.159*** | 0.075** | −0.046 | 0.062* | 0.076** | 1.000 | |||||
(10) SGROWTH | 0.144*** | 0.225*** | 0.221*** | 0.205*** | 0.048 | 0.070** | 0.085** | 0.118*** | −0.012 | 1.000 | ||||
(11) BETA | −0.191*** | −0.311*** | −0.277*** | −0.298*** | 0.035 | −0.129*** | −0.065* | −0.097*** | 0.104*** | −0.008 | 1.000 | |||
(12) LnAmihud | 0.263*** | 0.359*** | 0.324*** | 0.346*** | −0.084** | 0.009 | −0.185*** | −0.053 | −0.192*** | 0.002 | −0.387*** | 1.000 | ||
(13) CapInt | −0.050 | −0.156*** | −0.126*** | −0.153*** | −0.066* | −0.070** | 0.063* | 0.023 | −0.161*** | −0.069** | 0.076** | −0.173*** | 1.000 | |
(14) Tangible | −0.028 | −0.032 | 0.005 | −0.033 | 0.230*** | 0.195*** | −0.012 | 0.207*** | 0.243*** | 0.004 | 0.014 | −0.109*** | −0.009 | 1.000 |
