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Table 2 Correlation analysis (n = 114)

From: Effect of blockchain technology initiatives on firms’ market value

 

1

2

3

4

5

6

7

8

9

10

11

12

13

14

15

16

17

18

1

1.00

                 

2

0.18

1.00

                

3

− 0.04

− 0.07

1.00

               

4

− 0.16

− 0.25

0.04

1.00

              

5

− 0.03

0.13

0.28

0.04

1.00

             

6

− 0.04

0.34

− 0.16

− 0.04

0.01

1.00

            

7

0.24

0.49

0.02

− 0.16

0.11

0.09

1.00

           

8

− 0.01

0.20

0.11

0.09

0.08

0.08

0.09

1.00

          

9

− 0.13

0.13

0.00

− 0.2

0.03

0.11

0.01

0.13

1.00

         

10

− 0.05

− 0.35

0.08

0.05

− 0.04

− 0.15

− 0.23

− 0.35

− 0.41

1.00

        

11

0.18

0.11

− 0.15

0.08

− 0.04

0.00

0.16

0.11

− 0.40

− 0.48

1.00

       

12

− 0.32

− 0.29

0.02

0.01

− 0.05

0.00

− 0.26

− 0.29

− 0.05

0.23

− 0.15

1.00

      

13

− 0.12

0.00

0.14

− 0.06

0.03

0.07

− 0.23

0.00

0.11

− 0.13

0.08

− 0.09

1.00

     

14

− 0.29

− 0.06

0.03

0.23

0.08

− 0.07

− 0.08

− 0.06

− 0.15

0.05

− 0.02

− 0.11

− 0.05

1.00

    

15

0.15

0.40

0.03

− 0.03

0.17

0.11

0.13

0.40

− 0.06

− 0.18

0.16

− 0.18

− 0.08

− 0.10

1.00

   

16

0.02

0.02

− 0.05

− 0.06

0.17

− 0.01

0.03

0.02

0.39

− 0.06

− 0.23

− 0.15

− 0.07

− 0.09

− 0.14

1.00

  

17

− 0.02

0.16

0.14

0.03

0.22

0.10

0.05

0.16

0.00

− 0.13

0.08

− 0.09

− 0.04

− 0.05

− 0.08

− 0.07

1.00

 

18

− 0.02

0.14

0.10

− 0.11

0.02

− 0.02

0.04

0.14

− 0.08

0.19

− 0.09

− 0.06

− 0.03

− 0.03

− 0.05

− 0.05

− 0.03

1.00

  1. 1: Time/Cost saving, 2: Firm size, 3: First announcement, 4: Planning stage, 5: User, 6: Debt/Equity, 7: ROA, 8: 2016, 9: 2017, 10: 2018, 11: 2019, 12: Manufacturing, 13: Logistics and supply, 14: Wholesaling and retailing, 15: Depository institutions, 16: Non-depository financial institutions, 17: Insurance and real estate, 18: Public administration