Research of Microcosmic Affection Factors on Capital Misallocation: A Case of Chinese Listed Companies
Table 7
Pearson correlation coefficient between main variables.
Variables
Financial liquidity
Financial pledgeability
Firm size
Profitability
Debt structure
Investment in fixed assets
Innovation performance
Financial liquidity
1
Financial pledgeability
0.922
1
−4.265
Firm size
0.434
0.563
1
−2.015
−2.236
Profitability
0.722
0.566
0.618
1
−3.565
−4.912
−2.025
Debt structure
0.119
−0.721
0.794
0.093
1
−1.945
(−3.653)
−4.135
−2.987
Investment in fixed assets
−0.279
0.493
0.831
0.435
0.447
1
(−3.339)
−3.756
−5.343
−1.484
−3.351
Innovation performance
0.637
0.344
0.239
0.776
−0.311
−0.213
1
−4.895
−2.248
−3.776
−5.322
(−2.214)
(−4.674)
Note: (1) indicates statistical significance at the 0.01 level; indicates statistical significance at the 0.05 level; indicates statistical significance at the 0.10 level.
