VAR

1

NPL

0.33***

1

Fam. Osh

0.33***

0.65***

1

Mgt. Osh

0.33***

(0.65***)

0.65***

1

Con. Osh

−0.06

−0.09

(0.65***)

(0.36***)

1

Board. Ind

0.03

−0.38

−0.09

(0.68***)

0.06

1

Board. Stru

−0.05

−0.08

−0.38

(0.36***)

(0.36***)

0.66***

1

Duality

0.39***

(0.65***)

−0.08

0.03

0.36***

(0.33***)

(0.38***

1

Audit. Comit. Ind

0.03

(0.35***)

(0.65***)

0.35***

0.86***

0.86***

0.60***

−0.09

1

f. Size

(0.36***)

0.03

(0.35***)

(0.36***)

0.08*

0.35***

0.65***

(0.08*)

0.36***

1

f. Growth

0.30***

0.33***

0.33***

0.36***

(0.39***)

(0.33***)

0.03

(0.38***

(0.36***)

0.08*

1

f. Profit

−0.09

(0.33***)

(0.33***)

(0.36***)

0.35***

0.35***

0.30***

−0.3

0.33***

0.30***

0.39***