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Financial Innovation

Table 3 Pairwise correlation

From: Bank efficiency in Middle East and North African countries: Does political connection type matter?

Variables

(1)

(2)

(3)

(4)

(5)

(6)

(7)

(8)

(9)

(10)

(11)

(12)

(13)

(14)

(1) A_PC

1.000

             

(2) CEO_PC

0.636*

1.000

            
 

(0.000)

             

(3) BD_PC

0.604*

 − 0.251*

1.000

           
 

(0.000)

(0.000)

            

(4) SIZE

0.039

0.081*

 − 0.074*

1.000

          
 

(0.179)

(0.004)

(0.009)

           

(5) CAR

0.154*

0.107*

0.126*

 − 0.145*

1.000

         
 

(0.000)

(0.000)

(0.000)

(0.000)

          

(6) CRD_RQ

0.029

 − 0.002

0.008

0.055*

 − 0.246*

1.000

        
 

(0.374)

(0.950)

(0.803)

(0.042)

(0.000)

         

(7) PROF

0.034

0.008

0.042

 − 0.009

0.030

 − 0.013

1.000

       
 

(0.259)

(0.779)

(0.156)

(0.710)

(0.235)

(0.636)

        

(8) BAN_CON

0.018

 − 0.110*

0.108*

 − 0.067*

0.058*

 − 0.013

0.007

1.000

      
 

(0.557)

(0.000)

(0.000)

(0.007)

(0.025)

(0.642)

(0.775)

       

(9) DOM_CR

0.165*

0.142*

0.085*

 − 0.087*

0.005

0.275*

0.041

 − 0.037

1.000

     
 

(0.000)

(0.000)

(0.012)

(0.001)

(0.854)

(0.000)

(0.149)

(0.159)

      

(10) GDP_GR

 − 0.002

 − 0.027

0.016

 − 0.035

 − 0.106*

0.039

 − 0.047

 − 0.002

 − 0.304*

1.000

    
 

(0.946)

(0.338)

(0.566)

(0.127)

(0.000)

(0.156)

(0.054)

(0.940)

(0.000)

     

(11) INF

 − 0.120*

 − 0.084*

 − 0.063*

0.141*

 − 0.048*

 − 0.209*

0.015

 − 0.047*

 − 0.393*

 − 0.286*

1.000

   
 

(0.000)

(0.003)

(0.027)

(0.000)

(0.046)

(0.000)

(0.525)

(0.036)

(0.000)

(0.000)

    

(12) POL_RISK

0.136*

0.124*

0.032

 − 0.228*

 − 0.069*

0.263*

 − 0.060*

0.125*

0.407*

 − 0.038

 − 0.285*

1.000

  
 

(0.000)

(0.000)

(0.281)

(0.000)

(0.006)

(0.000)

(0.017)

(0.000)

(0.000)

(0.100)

(0.000)

   

(13) WEPU

 − 0.018

 − 0.008

 − 0.003

0.007

 − 0.030

0.085*

0.051*

 − 0.046*

 − 0.018

 − 0.049*

 − 0.001

–0.126*

1.000

 
 

(0.539)

(0.772)

(0.904)

(0.756)

(0.205)

(0.002)

(0.035)

(0.038)

(0.482)

(0.028)

(0.956)

(0.000)

  

(14) PAND_CRIS

0.035

0.002

0.019

0.075*

0.053*

 − 0.052

 − 0.068*

0.027

0.093*

 − 0.404*

0.139*

 − 0.020

 − 0.018

1.000

 

(0.216)

(0.946)

(0.494)

(0.001)

(0.028)

(0.054)

(0.005)

(0.225)

(0.000)

(0.000)

(0.000)

(0.382)

(0.431)

 
  1. This table reports the correlation matrix of independent variables used in the regressions. * denotes p < 5%
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