Risk-taking

ROA

Adv_dire

Firm_size

Growth

Lev

Age

First

Dual

Board_size

Risk-taking

1

ROA

0.004

1

Adv_dire

0.034***

0.055***

1

Firm_size

0.068***

0.006

0.101***

1

Growth

0.019**

0.199***

0.007

0.033***

1

Lev

0.044***

0.388***

0.045***

0.296***

0.045***

1

Age

0.037***

0.179***

0.096***

0.118***

−0.011

0.266***

1

First

−0.008

0.110***

0.001

0.271***

0.061***

−0.001

0.177***

1

Dual

0.003

0.065***

−0.008

0.185***

−0.006

0.158***

0.120***

0.058***

1

Board_size

0.007

0.004

−0.004

0.286***

0.017**

0.115***

0.035***

0.016**

0.167***

1

Indep

0.017**

0.014*

0.058***

0.022***

0.015*

−0.007

0.034***

0.049***

0.088***

−0.341***