臺大管理論叢 NTU Management Review VOL.30 NO.2

191 NTU Management Review Vol. 30 No. 2 Aug. 2020 Table 4 shows the correlation coefficients among the variables. Most of the financial and corporate governance variables are found to correlate with ICW disclosures ( ICW ), especially the corporate governance variables. Furthermore, the book value ( BV ) and net income ( NI ) correlate positively with the market value ( MV ) of the bank. The variance inflation factors (VIF) among the independent variables do not exceed 10.