Table 5.

Correlations and VIF test.

Variables	Gti	Incsr	Excsr	Area	Nature	Industry	Size	Pro	Tsrat	VIF
gti	1
incsr	0.110***	1								1.75
excsr	0.011	0.527***	1							1.45
area	−0.112***	−0.145***	−0.004	1						1.09
nature	0.03	−0.023	0.076***	0.149***	1					1.15
industry	0.038	−0.179***	−0.079***	0.161***	0.053**	1				1.09
size	0.204***	0.195***	0.189***	−0.022	0.314***	0.055**	1			1.19
pro	−0.062***	0.385***	0.089***	−0.041*	−0.002	−0.145***	0.060**	1		1.21
tsrat	0.069***	0.108***	0.093***	−0.148***	0.062***	−0.150***	0.135***	0.045*	1	1.07

***p < 0.01, **p < 0.05, *p < 0.1.