Corporate Pension Payment System under the Constraints of Cost of Capital: An Empirical Study

Table 3

Correlation coefficient of each variable of the whole samples.

	Re	CP	Lev	Size	Beta	B/M	AT
Re	1.0000
CP	−0.0333	1.0000
Lev	0.2966^∗∗∗	0.1426^∗∗∗	1.0000
Size	0.0916^∗∗∗	0.5509^∗∗∗	0.5032^∗∗∗	1.0000
Beta	0.3244^∗∗∗	−0.1304^∗∗∗	0.0299	0.1962^∗∗∗	1.0000
B/M	0.2107^∗∗∗	0.2022^∗∗∗	0.5495^∗∗∗	0.5300^∗∗∗	−0.0177	1.0000
AT	0.0157	0.0027	0.0277	−0.0946^∗∗∗	0.0386^∗	−0.0772^∗∗∗	1.0000

Note.^∗Significant at the 10% level. ^∗∗Significant at the 5% level. ^∗∗∗Significant at the 1% level.