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Table. 4 Pearson correlations and Spearman correlations

From: Multiple large shareholders and corporate fraud: evidence from China

  Fraud Fre Multi Size Lev Roa Lnboard Big10 Ana Dual Turnover Scfc
Fraud 1 0.996*** −0.023*** −0.047*** 0.076*** −0.129*** −0.004 −0.042*** −0.087*** 0.010 0.090*** 0.018**
Fre 0.807*** 1 −0.023*** −0.048*** 0.079*** −0.133*** − 0.004 −0.042*** − 0.091*** 0.011* 0.090*** 0.019***
Multi −0.023*** −0.022*** 1 −0.049*** − 0.100*** 0.086*** 0.037*** 0.018*** 0.080*** 0.033*** −0.114*** −0.036***
Size −0.058*** −0.058*** − 0.004 1 0.505*** −0.111*** 0.269*** 0.111*** 0.349*** −0.196*** −0.315*** 0.024***
Lev 0.078*** 0.085*** −0.095*** 0.495*** 1 −0.452*** 0.176*** 0.022*** −0.050*** −0.168*** − 0.066*** 0.085***
Roa −0.123*** −0.131*** 0.065*** −0.019*** − 0.387*** 1 − 0.030*** 0.023*** 0.404*** 0.086*** −0.112*** −0.032
Lnboard −0.010 −0.015** 0.039*** 0.319*** 0.192*** 0.005 1 0.031*** 0.136*** −0.188*** −0.127*** 0.045**
Big10 −0.042*** −0.041*** 0.018*** 0.145*** 0.024*** 0.033*** 0.042*** 1 0.076*** 0.013** −0.059*** −0.017***
Ana −0.087*** −0.099*** 0.080*** 0.377*** −0.056*** 0.363*** 0.150*** 0.077*** 1 0.018*** −0.161*** −0.012***
Dual 0.010 0.012* 0.033*** −0.184*** −0.167*** 0.055*** −0.179*** 0.013** 0.017*** 1 0.056*** −0.046***
Turnover 0.080*** 0.083*** −0.106*** −0.282*** − 0.056*** −0.133*** − 0.128*** −0.045*** − 0.169*** 0.052*** 1 0.006
Scfc 0.017** 0.019*** −0.048*** 0.024*** 0.090*** −0.040*** 0.055*** −0.018*** −0.023*** − 0.064*** 0.003 1
  1. Notes. *, **, **, denotes significance at the 10%, 5%, and 1% levels, respectively. The lower-left corner of this table shows the Pearson correlation coefficients, and its upper-right corner shows the Spearman correlation coefficients