Table 4.

Correlations between the study variables

	NPL R	ROE	BZ	QOC	INEF	SLV
ROE	− 0.18
BZ	0.29 **	0.32 **
QOC	0.59 **	− 0.02	0.28 **
INEF	− 0.03	− 0.58 **	− 0.12 *	− 0.06
SLV	0.09	0.48 **	0.31 **	0.18	− 0.26 **
ROGL	− 0.11	− 0.17	0.16	− 0.08	− 0.15	− 0.31 **

(*: p < 0.05; **: p < 0.01)