The Relationship between Extent of Internationalization and Firm Performance (Taiwan 1992–2017)

Table 7

Correlation matrix-high Tobin’s Q sample.

Tobin’s Q

FS

SC

LA

DA

AG

BS

OB

BP

PL

RD

MT

ME

Tobin’s Q

1.00; —

FS

0.02; (1.82)

1.00; —

SC

−0.11; (−10.03)

0.05; (4.56)

1.00; —

LA

0.13; (12.78)

0.02; (1.49)

0.00; (−0.23)

1.00; —

DA

−0.22; (−21.16)

0.05; (4.56)

0.20; (19.21)

0.00; (0.2)

1.00; —

AG

−0.17; (−16.6)

−0.08; (−7.21)

0.29; (28.4)

−0.15; (−14.07)

0.12; (11.66)

1.00; —

BS

−0.04; (−3.98)

−0.13; (−12.17)

0.30; (30.27)

−0.02; (−1.99)

0.02; (1.66)

0.14; (13.09)

1.00; —

OB

0.07; (7.13)

0.13; (12.52)

−0.16; (−15.7)

0.02; (2.34)

−0.08; (−8.09)

−0.24; (−23.01)

−0.15; (−14.23)

1.00; —

BP

0.01; (1.3)

0.03; (2.49)

0.18; (17.83)

0.00; (0.38)

0.00; (0.08)

−0.05; (−4.8)

0.03; (2.5)

0.04; (3.83)

1.00; —

PL

−0.07; (−6.66)

−0.05; (−4.7)

0.16; (15.12)

−0.02; (−1.68)

0.13; (12.37)

0.10; (9.57)

0.00; (0.45)

−0.15; (−14.02)

0.02; (2.27)

1.00; —

RD

0.21; (20.79)

0.02; (2.18)

−0.23; (−22.9)

0.01; (0.76)

−0.26; (−25.68)

−0.21; (−20.26)

−0.05; (−4.56)

0.12; (11.58)

0.05; (4.58)

−0.02; (−2.01)

1.00; —

MT

0.06; (5.64)

−0.16; (−15.62)

−0.24; (−23.64)

−0.02; (−1.56)

−0.08; (−8.09)

−0.01; (−1.13)

−0.07; (−7.04)

0.08; (7.82)

−0.05; (−4.94)

0.01; (1.22)

0.28; (27.55)

1.00; —

ME

0.11; (10.67)

−0.03; (−2.43)

−0.37; (−37.33)

−0.04; (−3.74)

−0.08; (−7.7)

−0.08; (−7.77)

−0.08; (−7.52)

0.09; (8.14)

−0.06; (−6.03)

0.01; (1.02)

0.43; (45.16)

0.38; (38.98)

1.00; —

Note: ^∗, ^∗∗, and ^∗∗∗ denote significance at α = 0.1, α = 0.05, and α = 0.01, respectively.