Table 2. Correlation matrix Variables... | Emerald Publishing

Table 2.

Correlation matrix

Variables	tobinq	ff_roa	esg_perf	esg_envp	esg_govp	esg_socp	esg_audit	b_siz	h_rightp	mgmt_perf	esg_strat	esg_team	f_lverag	f_siz	b_age	s_growth
TOBINQ	1.000
FF_ROA	0.317***	1.000
ESG_PERF	0.064**	0.035	1.000
ESG_ENVP	0.018	0.060**	0.417***	1.000
ESG_GOVP	−0.048	−0.012	0.392***	0.144***	1.000
ESG_SOCP	0.091***	0.085***	0.421***	0.493***	0.161***	1.000
ESG_AUDIT	0.064**	0.029	0.051	0.283***	0.098***	0.166***	1.000
B_SIZ	−0.058	0.099***	0.045	0.214***	0.038	0.235***	0.179***	1.000
H_RIGHTP	0.324***	0.107**	0.292***	0.271***	0.086***	0.668***	0.147***	0.138***	1.000
MGMT_PERF	−0.044	−0.002	0.379***	0.104***	0.952***	0.088***	0.024	0.019	0.045	1.000
ESG_STRAT	−0.044	0.003	0.186***	0.314***	0.215***	0.363***	0.480***	0.171***	0.247***	0.071**	1.000
ESG_TEAM	−0.036	−0.028	0.124***	0.207***	0.110***	0.184***	0.181***	0.060**	0.131***	0.035	0.368***	1.000
F_LVERAG	0.011	−0.138	0.029	0.057**	−0.027	−0.020	0.079***	−0.001	0.043	−0.017	0.090***	−0.018	1.000
F_SIZ	−0.163	−0.001	−0.112	0.318***	0.096***	0.291***	0.307***	0.446***	0.060**	0.020	0.236***	0.119***	−0.020	1.000
B_AGE	−0.063	0.183***	−0.156	−0.055	−0.037	0.013	−0.240	0.187***	−0.124	−0.012	−0.129	−0.155	−0.185	0.115***	1.000
S_Growth	0.042	0.320***	−0.199	0.132***	0.068**	0.149***	0.180***	0.223***	0.060**	0.028	0.117***	0.022	−0.158	0.474***	0.182***	1.000

Variables	tobinq	ff_roa	esg_perf	esg_envp	esg_govp	esg_socp	esg_audit	b_siz	h_rightp	mgmt_perf	esg_strat	esg_team	f_lverag	f_siz	b_age	s_growth
TOBINQ	1.000
FF_ROA	0.317***	1.000
ESG_PERF	0.064**	0.035	1.000
ESG_ENVP	0.018	0.060**	0.417***	1.000
ESG_GOVP	−0.048	−0.012	0.392***	0.144***	1.000
ESG_SOCP	0.091***	0.085***	0.421***	0.493***	0.161***	1.000
ESG_AUDIT	0.064**	0.029	0.051	0.283***	0.098***	0.166***	1.000
B_SIZ	−0.058	0.099***	0.045	0.214***	0.038	0.235***	0.179***	1.000
H_RIGHTP	0.324***	0.107**	0.292***	0.271***	0.086***	0.668***	0.147***	0.138***	1.000
MGMT_PERF	−0.044	−0.002	0.379***	0.104***	0.952***	0.088***	0.024	0.019	0.045	1.000
ESG_STRAT	−0.044	0.003	0.186***	0.314***	0.215***	0.363***	0.480***	0.171***	0.247***	0.071**	1.000
ESG_TEAM	−0.036	−0.028	0.124***	0.207***	0.110***	0.184***	0.181***	0.060**	0.131***	0.035	0.368***	1.000
F_LVERAG	0.011	−0.138	0.029	0.057**	−0.027	−0.020	0.079***	−0.001	0.043	−0.017	0.090***	−0.018	1.000
F_SIZ	−0.163	−0.001	−0.112	0.318***	0.096***	0.291***	0.307***	0.446***	0.060**	0.020	0.236***	0.119***	−0.020	1.000
B_AGE	−0.063	0.183***	−0.156	−0.055	−0.037	0.013	−0.240	0.187***	−0.124	−0.012	−0.129	−0.155	−0.185	0.115***	1.000
S_Growth	0.042	0.320***	−0.199	0.132***	0.068**	0.149***	0.180***	0.223***	0.060**	0.028	0.117***	0.022	−0.158	0.474***	0.182***	1.000

Note(s):

*, ** and ***, indicate statistical significance at the 10, 5 and 1% levels, respectively

Source(s): Authors’ own work