Correlation matrix of variables
| Variables | (1) | (2) | (3) | (4) | (5) | (6) | (7) |
|---|---|---|---|---|---|---|---|
| (1) MKTVL | 1.00 | ||||||
| (2) ESG | 0.31*** | 1.00 | |||||
| (3) STAKENG | 0.27*** | 0.65*** | 1.00 | ||||
| (4) ROA | −0.01 | −0.03 | −0.09** | 1.00 | |||
| (5) LEVEREG | −0.21*** | 0 | 0.09** | −0.23*** | 1.00 | ||
| (6) SIZE | 0.58*** | 0.27*** | 0.18*** | −0.03*** | −0.09** | 1.00 | |
| (7) SECTOR | −0.02 | 0.00 | 0.07 | 0.09** | 0.08** | −0.19*** | 1.00 |
| (8) ECOFREE | 0.04 | 0.08** | 0.17*** | −0.03 | 0.04 | −0.00 | 0.04 |
| Variables | (1) | (2) | (3) | (4) | (5) | (6) | (7) |
|---|---|---|---|---|---|---|---|
| (1) MKTVL | 1.00 | ||||||
| (2) ESG | 0.31*** | 1.00 | |||||
| (3) STAKENG | 0.27*** | 0.65*** | 1.00 | ||||
| (4) ROA | −0.01 | −0.03 | −0.09** | 1.00 | |||
| (5) LEVEREG | −0.21*** | 0 | 0.09** | −0.23*** | 1.00 | ||
| (6) SIZE | 0.58*** | 0.27*** | 0.18*** | −0.03*** | −0.09** | 1.00 | |
| (7) SECTOR | −0.02 | 0.00 | 0.07 | 0.09** | 0.08** | −0.19*** | 1.00 |
| (8) ECOFREE | 0.04 | 0.08** | 0.17*** | −0.03 | 0.04 | −0.00 | 0.04 |
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