Table 3. VIF and Pearson correlations...

Table 3.

VIF and Pearson correlations

Variables	VIF	(1)	(2)	(3)	(4)	(5)	(6)	(7)	(8)	(9)	(10)	(11)	(12)	(13)	(14)	(15)	(16)
(1) CSR controversies score		1.000
(2) CSR incentives	2.16	−0.149***	1.000
(3) Complexity	2.01	−0.153***	0.094***	1.000
(4) Munificence	2.44	0.046***	0.025**	0.142***	1.000
(5) Dynamism	3.35	−0.108***	0.057***	0.533***	0.108***	1.000
(6) CEO Duality	1.25	0.058***	−0.016	−0.038***	−0.021*	−0.009	1.000
(7) Log(board_size)	2.02	0.243***	0.158***	0.156***	0.032***	0.100***	0.048***	1.000
(8) Sustainability committee	1.99	0.257***	0.240***	0.114***	0.037***	0.072***	−0.022**	0.403***	1.000
(9) Log(firm_age)	3.06	0.383***	0.209***	0.154***	0.029***	0.056***	0.102***	0.442***	0.444***	1.000
(10) Log(employees)	3.77	0.381***	0.202***	0.048***	0.059***	0.072***	0.110***	0.496***	0.428***	0.631***	1.000
(11) Log(ROA)	1.66	0.003	−0.019*	0.028**	0.027**	−0.008	0.112***	−0.024**	0.012	0.231***	0.093***	1.000
(12) Log(Tobin’s Q)	3.10	−0.067***	−0.057***	−0.038***	−0.006	−0.125***	0.099***	−0.218***	−0.117***	0.272***	−0.146***	0.558***	1.000
(13) Log(leverage)	1.41	−0.132***	−0.074***	−0.038***	−0.038***	−0.125***	−0.022**	−0.256***	−0.195***	−0.138***	−0.333***	0.142***	0.386***	1.000
(14) CSR rating score	2.69	0.303***	0.318***	0.109***	0.035***	0.059***	−0.032***	0.450***	0.666***	0.575***	0.554***	0.021*	−0.067***	−0.196***	1.000
(15) Log(tangability)	1.69	−0.029***	−0.067***	−0.074***	0.015	−0.149***	0.049***	−0.078***	−0.061***	−0.124***	0.106***	0.239***	0.257***	0.129***	−0.054***	1.000
(16) Sales growth	1.13	−0.039***	−0.063***	0.017	−0.004	−0.018*	−0.004	−0.106***	−0.111***	−0.010	−0.137***	0.052***	0.109***	0.075***	−0.144***	−0.006	1.000

Variables	VIF	(1)	(2)	(3)	(4)	(5)	(6)	(7)	(8)	(9)	(10)	(11)	(12)	(13)	(14)	(15)	(16)
(1) CSR controversies score		1.000
(2) CSR incentives	2.16	−0.149***	1.000
(3) Complexity	2.01	−0.153***	0.094***	1.000
(4) Munificence	2.44	0.046***	0.025**	0.142***	1.000
(5) Dynamism	3.35	−0.108***	0.057***	0.533***	0.108***	1.000
(6) CEO Duality	1.25	0.058***	−0.016	−0.038***	−0.021*	−0.009	1.000
(7) Log(board_size)	2.02	0.243***	0.158***	0.156***	0.032***	0.100***	0.048***	1.000
(8) Sustainability committee	1.99	0.257***	0.240***	0.114***	0.037***	0.072***	−0.022**	0.403***	1.000
(9) Log(firm_age)	3.06	0.383***	0.209***	0.154***	0.029***	0.056***	0.102***	0.442***	0.444***	1.000
(10) Log(employees)	3.77	0.381***	0.202***	0.048***	0.059***	0.072***	0.110***	0.496***	0.428***	0.631***	1.000
(11) Log(ROA)	1.66	0.003	−0.019*	0.028**	0.027**	−0.008	0.112***	−0.024**	0.012	0.231***	0.093***	1.000
(12) Log(Tobin’s Q)	3.10	−0.067***	−0.057***	−0.038***	−0.006	−0.125***	0.099***	−0.218***	−0.117***	0.272***	−0.146***	0.558***	1.000
(13) Log(leverage)	1.41	−0.132***	−0.074***	−0.038***	−0.038***	−0.125***	−0.022**	−0.256***	−0.195***	−0.138***	−0.333***	0.142***	0.386***	1.000
(14) CSR rating score	2.69	0.303***	0.318***	0.109***	0.035***	0.059***	−0.032***	0.450***	0.666***	0.575***	0.554***	0.021*	−0.067***	−0.196***	1.000
(15) Log(tangability)	1.69	−0.029***	−0.067***	−0.074***	0.015	−0.149***	0.049***	−0.078***	−0.061***	−0.124***	0.106***	0.239***	0.257***	0.129***	−0.054***	1.000
(16) Sales growth	1.13	−0.039***	−0.063***	0.017	−0.004	−0.018*	−0.004	−0.106***	−0.111***	−0.010	−0.137***	0.052***	0.109***	0.075***	−0.144***	−0.006	1.000

Note(s):

This table presents correlations between the CSR controversies score, firm characteristics, and governance variables. VIF assess potential multicollinearity among independent variables *, ** and *** denote significance at the 10, 5 and 1% levels, respectively

Source(s): Author’s own creation

[ViewLarge]

Sharing Unavailable