In Table 2, we report a correlation matrix, which contains Pearson product moment
correlation between the regression variables. As expected, all of the variables are significantly
correlated with forecast accuracy (ACCY). For example, ACCY is negatively correlated
with DISP (p 0.01) and positively correlated with AUDITOR (p 0.01).15 The
univariate correlation between AUDITOR and forecast dispersion (DISP) is 0.239, which
is significant at 1 percent level. The univariate correlation between our alternative measure