Research on the Impact of Environmental Regulation on Enterprise Innovation from the Perspective of Official Communication

Table 7

Main variable correlation coefficient table.

	INNO	Rotation	ER	Size	Roe	Top1	Age	Debt
INNO	1.0000	0.0059	−0.0380^∗∗∗	−0.1417^∗∗∗	0.0323^∗∗∗	−0.0928^∗∗∗	−0.0890^∗∗∗	−0.1932^∗∗∗
Rotation	0.0287^∗∗∗	1.0000	−0.1159^∗∗∗	−0.0150^∗∗∗	−0.0370^∗∗∗	0.0127^∗∗	0.0500^∗∗∗	−0.0117^∗∗
ER	−0.0232^∗∗∗	−0.0119^∗∗	1.0000	−0.0880^∗∗∗	−0.0055	−0.0093^∗	−0.0890^∗∗∗	−0.0470^∗∗∗
Size	−0.1560^∗∗∗	−0.0139^∗∗	−0.0454^∗∗∗	1.0000	0.1410^∗∗∗	0.0734^∗∗∗	0.4467^∗∗	0.5669^∗∗∗
Roe	0.0121^∗∗	−0.0191^∗∗∗	−0.0486^∗∗∗	0.1199^∗∗∗	1.0000	0.1046^∗∗∗	−0.0779^∗∗∗	−0.0567^∗∗∗
Top1	−0.1086^∗∗∗	0.0151^∗∗∗	−0.0093^∗	0.0919^∗∗∗	0.0850^∗∗∗	1.0000	−0.0691^∗∗∗	0.0270^∗∗∗
Age	−0.1063^∗∗∗	0.0494^∗∗∗	−0.0163^∗∗∗	0.4216^∗∗∗	−0.0743^∗∗∗	−0.0404^∗∗∗	1.0000	0.3540^∗∗∗
Debt	−0.2175^∗∗∗	−0.0065	−0.0193^∗∗∗	0.5582^∗∗∗	−0.1307^∗∗∗	0.0274^∗∗∗	0.3603^∗∗∗	1.0000

Note: the upper right part of the table is Spearman test, and the lower left part is Pearson test. The symbols ^∗∗∗, ^∗∗, ^∗ represent a significant level of 1, 5, and 10, respectively.