Monetary Policy, Fiscal Policy, and Capital Structure Dynamic Adjustment: Evidence from Chinese Listed Companies

Table 3

Correlation coefficient matrix of variables.

	Debtrate	Lnasset	Nontax	Profit	Grow	Tang	Mon1	Mon2	Fin	Stru	GDPgrow
Debtrate	1
lnasset	0.279	1
Nontax	0.0604	0.0216	1
Profit	−0.291	−0.147	−0.0196	1
Epsgrow	−0.118	0.0110	−0.0573	0.333	1
Tang	0.112	0.0733	0.0778	−0.0440	−0.0576	1
Mon1	−0.115	0.0246	0.1025	0.0139	−0.0014	0.1072	1
Mon2	0.121	−0.228	0.101	0.0692	0.0279	0.117	−0.723	1
Fin	0.130	−0.227	0.101	0.0520	−0.00490	0.121	0.0821	0.684	1
Stru	−0.0441	0.0721	−0.0522	0.0708	0.0491	−0.0966	0.0776	−0.0881	0.143	1
GDPgrow	0.155	−0.217	0.125	0.0308	0.0188	0.155	−0.426	0.644	0.750	−0.0567	1

, , and represent significance at 1%, 5%, and 10% levels, respectively.