Future Business Journal

Table 2 The correlation analysis

From: Liquidity risk and stock returns: empirical evidence from industrial products and services sector in Bursa Malaysia

Var	\(r_{i}\)	E(c)	\(\beta_{1}\)	\(\beta_{2}\)	\(\beta_{3}\)	\(\beta_{4}\)	\(\beta_{5}\)
\(r_{i}\)	1
E(c)	− 0.297***	1
\(\beta_{1}\)	− 0.235***	0.247***	1
\(\beta_{2}\)	0.0026	0.147***	0.216***	1
\(\beta_{3}\)	0.257***	− 0.288***	− 0.712***	− 0.233***	1
\(\beta_{4}\)	− 0.032***	− 0.093***	− 0.291***	− 0.562***	0.161***	1
\(\beta_{5}\)	0.018**	0.114***	0.326***	0.626***	− 0.218***	− 0.996***	1

This table provides the correlation analysis between stock returns, expected illiquidity costs, market stock beta, three liquidity risks, and aggregate liquidity risks. *10% level of significance, **5% level of significance, ***1% level of significance

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