Table 4 Correlation analysis and...

Table 4

Correlation analysis and multicollinearity test

No.	Variables	1	2	3	4	5	6	7	8	9	10	11	12	13	14	15	VIF
1	TBQ	1.000
2	ROA	0.177*	1.000
3	ROE	0.086*	0.800*	1.000
4	ESG	0.055*	0.226*	0.193*	1.000												1.13
5	Size	−0.204*	−0.005	0.114*	0.224*	1.000											1.56
6	Lev	−0.182*	−0.384*	−0.158*	−0.098*	−0.095*	1.000										1.14
7	CAR	0.124*	0.431*	0.301*	0.095*	0.092*	0.059*	1.000*									1.05
8	GRW	0.088*	0.220*	0.230*	−0.010	−0.008	0.055*	0.057*	1.000								1.00
9	Age	0.083*	−0.224*	−0.092*	−0.127*	−0.122*	0.408*	0.410*	−0.014	1.000							1.32
10	B_Indp	−0.015*	−0.024*	−0.021*	0.082*	0.080*	0.031*	−0.002	−0.013	−0.010	1.000						1.46
11	Bsize	−0.032*	0.018*	0.046*	0.017*	0.016*	0.221*	0.138*	0.025*	0.011	0.139*	1.000					1.60
12	Top1	−0.070*	0.131*	0.131*	0.112*	0.103*	0.170*	0.038*	0.080*	0.008	−0.079*	0.060*	1.000				1.12
13	Duality	0.017*	0.049*	−0.001	−0.001	0.001	−0.212*	−0.183*	−0.001	0.010	−0.292*	0.081*	−0.177*	1.000			1.17
14	Bgender	0.115*	0.074*	0.031*	0.027*	0.027*	−0.118*	−0.109*	0.041*	0.012	−0.119*	0.017*	−0.067*	0.001	1.000		1.22
15	Liq	0.035*	−0.024*	−0.051*	0.018*	0.123*	−0.145*	0.401*	0.031*	0.018	0.201*	0.015*	−0.034*	0.036*	0.213*	1.000	1.37
	Mean VIF																1.26

Note(s): This table presents the Pearson correlation coefficients between the study variables, highlighting the relationships between ESG factors and bank profitability. Significance levels are indicated at the 10%, 5%, and 1% levels. The table also includes the Variance Inflation Factor (VIF) to assess multicollinearity, with all values within acceptable limits, indicating no concerns

Source(s): Authors’ own work

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