PB | 0.003 | −0.015 | 0.054*** | −0.024** | 0.280*** | 0.025** | −0.306*** | 1.000 |
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lev | −0.075*** | 0.098*** | −0.338*** | −0.382*** | −0.031*** | 0.027*** | 0.245*** | 0.137*** | 1.000 |
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Firm age | −0.124*** | 0.097*** | −0.214*** | −0.187*** | −0.021** | 0.114*** | 0.084*** | 0.147*** | 0.396*** | 1.000 |
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Growth | 0.098*** | −0.034*** | −0.007 | 0.256*** | 0.080*** | 0.107*** | −0.088*** | 0.055*** | 0 | −0.081*** | 1.000 |
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State | −0.192*** | 0.046*** | −0.175*** | −0.129*** | −0.108*** | 0.111*** | 0.296*** | −0.058*** | 0.304*** | 0.415*** | −0.103*** | 1.000 |
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COCEN | 0.036*** | −0.043*** | −0.012 | 0.243*** | 0.030*** | 0.239*** | 0.124*** | −0.133*** | −0.174*** | −0.383*** | 0.078*** | −0.046*** | 1.000 |
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Separation | −0.042*** | 0.003 | −0.120*** | −0.059*** | −0.050*** | 0.039*** | 0.117*** | −0.021** | 0.140*** | 0.204*** | −0.033*** | 0.262*** | −0.041*** | 1.000 |
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Age | −0.081*** | 0.004 | −0.121*** | −0.061*** | −0.018* | 0.186*** | 0.288*** | −0.035*** | 0.121*** | 0.214*** | −0.117*** | 0.303*** | −0.020** | 0.059*** | 1.000 |
Tenure | 0.048*** | −0.050*** | 0.059*** | −0.025** | 0.123*** | 0.143*** | 0.140*** | −0.041*** | −0.051*** | 0.107*** | −0.112*** | 0.011 | −0.081*** | −0.052*** | 0.310*** |