Correlation matrix
| ESG score | ROA | ISO 9000 | Six sigma | Employees | Leverage | Current ratio | R&D intensity | |
|---|---|---|---|---|---|---|---|---|
| ESG score | 1.000 | 0.317*** | 0.389*** | 0.344*** | 0.395*** | 0.021 | −0.251*** | −0.058*** |
| ROA | 1.000 | 0.254*** | 0.090*** | 0.166*** | 0.345*** | −0.279*** | −0.145*** | |
| ISO 9000 | 1.000 | 0.110*** | 0.174*** | 0.014 | −0.163*** | −0.060*** | ||
| Six sigma/quality | 1.000 | 0.237*** | 0.009 | −0.060*** | −0.021 | |||
| #Employees | 1.000 | 0.010 | −0.195*** | −0.034* | ||||
| Leverage | 1.000 | −0.010 | −0.001 | |||||
| Current ratio | 1.000 | 0.050*** | ||||||
| R&D intensity | 1.000 |
| ISO 9000 | Six sigma | Employees | Leverage | Current ratio | R&D intensity | |||
|---|---|---|---|---|---|---|---|---|
| 1.000 | 0.317*** | 0.389*** | 0.344*** | 0.395*** | 0.021 | −0.251*** | −0.058*** | |
| 1.000 | 0.254*** | 0.090*** | 0.166*** | 0.345*** | −0.279*** | −0.145*** | ||
| ISO 9000 | 1.000 | 0.110*** | 0.174*** | 0.014 | −0.163*** | −0.060*** | ||
| Six sigma/quality | 1.000 | 0.237*** | 0.009 | −0.060*** | −0.021 | |||
| #Employees | 1.000 | 0.010 | −0.195*** | −0.034* | ||||
| Leverage | 1.000 | −0.010 | −0.001 | |||||
| Current ratio | 1.000 | 0.050*** | ||||||
| R&D intensity | 1.000 |
Note(s): *p < 0.1; **p < 0.05; ***p < 0.01
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