Table 3 Pairwise correlation Variables... | Emerald Publishing

Table 3

Pairwise correlation

Variables	ESG_SCORE	ESG_COMB	ESG_AVE	AC_IND	GEND	CEOD	POL	TA	CEOM	BTEN	ATEN
ESG_SCORE	1
ESG_COMB	0.9574***	1
ESG_AVE	0.9811***	0.9351***	1.0000
AC_IND	0.3085***	0.2844***	0.3349***	1.0000
GEND	0.4591***	0.4390***	0.4414***	0.1182***	1.0000
CEOD	0.0381	0.0326	0.0431	−0.1606***	0.0119	1.0000
POL	0.3092***	0.3064***	0.3088***	0.0625**	0.1665***	−0.0874***	1.0000
TA	0.6297***	0.5160***	0.6485***	0.2620***	0.2939***	0.0808***	0.1893***	1.0000
CEOM	−0.0421	−0.0466	−0.0347	0.0135	−0.0874***	−0.0719**	−0.0430	0.0163	1.0000
BTEN	−0.0181	0.0042	−0.0218	0.0254	−0.1799***	0.1539***	−0.1547***	−0.0409	−0.0268	1.0000
ATEN	0.0757**	0.0715**	0.0665**	0.1001***	0.0627**	0.1258***	−0.0429	0.0533*	−0.0174	0.2042***	1.0000

Variables	ESG_SCORE	ESG_COMB	ESG_AVE	AC_IND	GEND	CEOD	POL	TA	CEOM	BTEN	ATEN
ESG_SCORE	1
ESG_COMB	0.9574***	1
ESG_AVE	0.9811***	0.9351***	1.0000
AC_IND	0.3085***	0.2844***	0.3349***	1.0000
GEND	0.4591***	0.4390***	0.4414***	0.1182***	1.0000
CEOD	0.0381	0.0326	0.0431	−0.1606***	0.0119	1.0000
POL	0.3092***	0.3064***	0.3088***	0.0625**	0.1665***	−0.0874***	1.0000
TA	0.6297***	0.5160***	0.6485***	0.2620***	0.2939***	0.0808***	0.1893***	1.0000
CEOM	−0.0421	−0.0466	−0.0347	0.0135	−0.0874***	−0.0719**	−0.0430	0.0163	1.0000
BTEN	−0.0181	0.0042	−0.0218	0.0254	−0.1799***	0.1539***	−0.1547***	−0.0409	−0.0268	1.0000
ATEN	0.0757**	0.0715**	0.0665**	0.1001***	0.0627**	0.1258***	−0.0429	0.0533*	−0.0174	0.2042***	1.0000

Pairwise correlation between AC_IND and instrumental variable AC_MGT
Variables	AC_IND
AC_MGT	0.3754***

Note(s): *, ** and *** represent significance at the 10, 5 and 1% level, respectively

Source(s): Authors’ own work