Under-inv

Distort 1

Distort 2

Distort 3

Distort 4

FCF

SOE

Under_inv

1

Distort 1

0.0046

1

Distort 2

0.0143

0.8531***

1

Distort 3

0.0248

0.2056***

0.1061***

1

Distort 4

0.001

0.4262***

0.2437***

0.5640***

1

SOE

−0.1***

−0.06***

−0.125***

0.1177***

0.1981***

1

SCF

0.2405***

−0.011

0.0014

0.0053

−0.004

−0.092***

1