Table 3 Expected signs of coefficients...

Table 3

Expected signs of coefficients

Variable	Correlation with EQ	Correlation with EM	Expected coefficient
ESG	+	–	–
ENV	+	–	–
SOC	+	–	–
GOV	+	–	–
Profitability	+	–	–
Leverage	–	+	+
Size	+	–	–
Growth	–	+	+

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