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審計委員會權益薪酬之決定因素
382
Table 4 Pearson Correlation of Variables Used in Multivariate Analysis
1
2
3
4
5
6
7
8
9
10
11
12
1
EQUCOMP
1
2
FREE_TOBIN
-0.0117 1
3
OVERLAP_
AUCOMP
-0.0141 -0.0301 1
4
OTHER_EXE
0.0397 0.013 -0.2360 1
5
INGOV
-0.0785 -0.0422 0.0259 -0.0975 1
6
EXGOV
0.1051 0.0475 -0.0610 0.0489 -0.0904 1
7
CASHCOMP
-0.3342 -0.0550 0.4224 -0.2942 0.0778 -0.2193 1
8
BOARDSIZE
0.0527 0.1255 -0.1334 0.2871 -0.1750 0.1095 -0.2728 1
9
LNSALES
0.0414 0.2274 -0.0563 0.2620 -0.1259 0.2744 -0.1748 0.6000 1
10
LIQ_
CONSTRAINTS
0.0332 0.0862 -0.0128 -0.0251 -0.0126 0.0825 -0.0511 0.0717 0.0192 1
11
STOCK_
RETURN
-0.0335 -0.1480 -0.0172 -0.0156 0.0296 0.0135 0.008 -0.0181 -0.0399 0.0242 1
12
R&D
0.0249 -0.0078 0.011 -0.0008 -0.0483 0.0655 -0.0416 0.0248 -0.0183 -0.0109 -0.0590 1
Note: Bold numbers denote that the coefficients are significant at the 0.1 percent level or better. N = 5,259. See Table 2 for variable definitions.