div

df

Z3

roe

state

invest~e

growth

size

age

div

1

df

0.163^***

1

Z3

−0.00800

0.054^***

1

roe

−0.036^***

−0.00400

−0.0120

1

state

−0.081^***

−0.159^***

−0.200^***

−0.079^***

1

investment~e

−0.045^***

−0.044^***

0.029^**

0.124^***

−0.183^***

1

growth

−0.149^***

−0.108^***

0.054^***

0.241^***

−0.080^***

0.062^***

1

size

−0.084^***

−0.434^***

−0.101^***

0.153^***

0.363^***

−0.075^***

0.026^**

1

age

0.0120

−0.043^***

−0.083^***

−0.0180

0.272^***

−0.096^***

−0.105^***

0.169^***

1