Table 2 Correlation matrix
From: Pharmaceutical regulation in Europe and its impact on corporate R&D
| Â | R&D | MSEMA | MSROW | MSUSA | Employ | Salesgr | Leverage | Tobin'sq | Cash flow |
|---|---|---|---|---|---|---|---|---|---|
R&D | 1 | Â | Â | Â | Â | Â | Â | Â | Â |
MSEMA | −0.339 | 1 |  |  |  |  |  |  |  |
MSROW | −0.441 | 0.006 | 1 |  |  |  |  |  |  |
MSUSA | 0.590 | −0.683 | −0.734 | 1 |  |  |  |  |  |
Employ | −0.502 | 0.618 | 0.086 | −0.482 | 1 |  |  |  |  |
Salesgr | 0.119 | 0.074 | 0.026 | −0.069 | −0.024 | 1 |  |  |  |
Leverage | −0.180 | 0.004 | −0.306 | 0.220 | 0.209 | −0.128 | 1 |  |  |
Tobin's q | 0.177 | −0.203 | −0.315 | 0.368 | 0.221 | −0,021 | −0.147 | 1 |  |
Cash flow | 0.138 | −0.135 | −0.095 | 0.161 | −0.082 | 0.168 | −0.133 | 0.332 | 1 |