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

The Benefits of Disclosing Internal Control Weaknesses: Evidence from Taiwanese Banks 192 Table 4 Correlation Coe ffi cients (1) (2) (3) (4) (5) (6) (7) (8) (9) (10) (1) ICW 1.00 (2) SIZE -0.12 1.00 (3) ln(AGE) -0.05 0.63 1.00 (4) AGGLOSS 0.07 -0.11 -0.11 1.00 (5) ROA 0.04 0.07 0.10 -0.65 1.00 (6) sd(ROA) 0.22 -0.21 -0.18 0.41 -0.37 1.00 (7) DIV_ASSET 0.19 -0.17 -0.22 -0.02 0.26 -0.06 1.00 (8) DIV_REV 0.05 -0.14 -0.40 -0.19 0.36 -0.14 0.50 1.00 (9) FOREIGN 0.00 0.32 0.15 -0.05 0.14 -0.07 0.11 0.02 1.00 (10) EXGROWTH -0.02 -0.13 -0.21 -0.13 0.15 0.00 0.11 0.24 -0.01 1.00 (11) BDSIZE -0.15 0.24 0.24 -0.04 -0.13 0.11 -0.48 -0.22 -0.11 0.04 (12) BDMGER -0.19 0.07 -0.12 0.07 -0.08 0.06 -0.06 0.08 0.02 -0.06 (13) BDHD -0.08 0.29 0.14 -0.02 -0.05 -0.01 -0.14 -0.14 0.10 -0.04 (14) MGERHD -0.13 -0.10 0.09 -0.05 0.09 -0.03 -0.15 -0.03 0.07 -0.06 (15) MODEV -0.16 -0.03 0.14 -0.09 -0.02 0.12 -0.30 -0.16 -0.09 -0.13 (16) BDPLEDGE 0.35 -0.18 -0.18 0.28 -0.13 0.43 0.24 0.14 -0.15 0.07 (17) BLOCKHD 0.36 -0.33 -0.29 0.25 -0.14 0.13 0.42 0.28 -0.02 0.14 (18) LEGALHD 0.19 0.31 -0.22 0.19 -0.14 0.09 0.26 0.25 0.09 0.07 (19) GOVHD -0.18 0.39 0.37 -0.12 0.03 -0.30 -0.36 -0.33 -0.01 -0.05 (20) MV 0.14 -0.21 -0.14 -0.05 0.27 0.32 0.40 0.44 0.07 0.21 (21) BV 0.00 -0.38 -0.47 -0.04 0.17 0.17 0.32 0.55 -0.18 0.33 (22) NI 0.04 0.04 0.08 -0.62 0.99 -0.35 0.29 0.39 0.13 0.19 (23) ZSCORE -0.21 0.29 0.17 -0.33 0.32 -0.80 0.20 0.20 0.12 0.05 Note: See Appendix for variable definitions. Coefficients in bold present 10% significance.