Table 4 Pearson correlations coefficients matrix.

ROA

Pearson Correlation

1

Sig. (2-tailed)

0.000

PtoB

Pearson Correlation

0.364

1

Sig. (2-tailed)

.000

BiodDi

Pearson Correlation

0.084

0.051

1

Sig. (2-tailed)

0.05

0.485

LEV

Pearson Correlation

− 0.536

− 0.091

− 0.0036

1

Sig. (2-tailed)

0.000

0.2126

0.9500

FirmsizeLog

Pearson Correlation

− 0.298

− 0.0893

0.0364

0.3122

1

Sig. (2-tailed)

0.000

0.2203

0.5298

0.0000

Country

Pearson Correlation

0.036

− 0.0543

− 0.1058

− 0.1355

0.0021

1

Sig. (2-tailed)

0.535

0.4565

0.0673

0.0189

0.9716

IndsSector

Pearson Correlation

− 0.180

− 0.2192

0.2154

0.1454

− 0.0641

0.1664

1

Sig. (2-tailed)

0.0017

0.0024

0.0002

0.0117

0.2687

0.0038

Big4

Pearson Correlation

0.143

− 0.0658

− 0.1031

0.0787

0.1530

− 0.1547

− 0.0732

1

Sig. (2-tailed)

0.0130

0.3669

0.0744

0.1739

0.0079

0.0072

0.2061