Multivariate Analysis for Overcoming Complexities of Corporate Governance and Managerial Dilemma Using Data Mining Techniques

Table 4

Correlation.

		ROCE (%)	Board composition	Ownership structure	Bsm score	Board remunerations	Corporate governance codes	Transparency and shareholders rights
Pearson correlation	ROCE percentage	1.000	0.106	0.095	−0.019	−0.059	0.119	0.116
	Board composition	0.106	1.000	0.183	0.037	0.036	0.150	0.160
	Ownership structure	0.095	0.183	1.000	0.435	−0.005	0.254	0.243
	Board and shareholders meeting	−0.019	0.037	0.435	1.000	0.062	0.148	0.200
	Board remunerations	−0.059	0.036	−0.005	0.062	1.000	0.181	0.137
	Corporate governance codes	0.119	0.150	0.254	0.148	0.181	1.000	0.821
	Transparency and shareholders’ rights	0.116	0.160	0.243	0.200	0.137	0.821	1.000
Sig. (1-tailed)	ROCE percentage	0	0.124	0.150	0.420	0.259	0.096	0.103
	Board composition	0.124	0	0.022	0.342	0.346	0.050	0.040
	Ownership structure	0.150	0.022	0	0.000	0.478	0.002	0.004
	Board and shareholders meeting	0.420	0.342	0.000	0	0.248	0.053	0.014
	Board remunerations	0.259	0.346	0.478	0.248	0	0.023	0.067
	Corporate governance codes	0.096	0.050	0.002	0.053	0.023	0	0.000
	Transparency and shareholders’ rights	0.103	0.040	0.004	0.014	0.067	0.000	0
N	ROCE percentage	121	121	121	121	121	121	121
	Board composition	121	121	121	121	121	121	121
	Ownership structure	121	121	121	121	121	121	121
	Board and shareholders meeting	121	121	121	121	121	121	121
	Board remunerations	121	121	121	121	121	121	121
	Corporate governance codes	121	121	121	121	121	121	121
	Transparency and shareholders’ rights	121	121	121	121	121	121	121