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Table 3 Spearman correlation coefficients

From: The impact of US sugar prices on the financial performance of US sugar-using firms

 

ROA

MTB

SGA

ATO

Size

Growth

FRisk

UWpra

UWpre

MTB

0.8330*

        

SGA

0.3387*

0.3584*

       

ATO

0.3028*

0.1804*

0.2358*

      

Size

0.2947*

0.3365*

0.1758*

− 0.4018*

     

Growth

− 0.1791*

− 0.1626*

− 0.0996*

− 0.0123

− 0.1412*

    

FRisk

− 0.5109*

− 0.6115*

− 0.3790*

− 0.2673*

0.1001*

0.0887*

   

UWpra

0.039

− 0.0690*

0.1078*

0.1818*

− 0.1753*

0.0721*

− 0.0794*

  

UWpre

0.055

− 0.0919*

0.1121*

0.1969*

− 0.1811*

0.0921*

− 0.0915*

0.8671*

 

UWprb

0.0495

− 0.0769*

0.0787*

0.1343*

− 0.1453*

0.0777*

− 0.0809*

0.7726*

0.9503*

  1. Notes: Variable definitions are in Table 1. All variables are in natural logarithm, ROA and MTB are expressed at t + 1 and other variables at t, as in models (2) and (3)
  2. *Statistical significance level at 5%