Table 6 Pearson correlation of ESG –... | Emerald Publishing

Table 6

Pearson correlation of ESG – leverage

	ESG	DTAR	TOBINSQ	LEV
ESG	1.000
DTAR	0.327^**	1.000
DTAR	(0.000)
TOBINSQ	0.091	−0.167^**	1.000
TOBINSQ	(0.147)	(0.007)
LEV	0.138^*	0.391^**	−0.077	1.000
LEV	(0.028)	(0.000)	(0.218)
FSIZE	0.397^**	0.404^**	−0.261^**	0.499^**
FSIZE	(0.000)	(0.000)	(0.000)	(0.000)
FAGE	0.304^**	0.257^**	0.073	0.309^**
FAGE	(0.000)	(0.000)	(0.249)	(0.000)
BSIZE	0.342^**	0.232^**	0.021	0.171^**
BSIZE	(0.000)	(0.000)	(0.742)	(0.006)
BIG4	0.357^**	0.213^**	0.088	−0.032
BIG4	(0.000)	(0.001)	(0.160)	(0.616)
STATEOWN	0.270^**	0.333^**	−0.190^**	0.277^**
STATEOWN	(0.000)	(0.000)	(0.002)	(0.000)

	ESG	DTAR	TOBINSQ	LEV
ESG	1.000
DTAR	0.327^**	1.000
DTAR	(0.000)
TOBINSQ	0.091	−0.167^**	1.000
TOBINSQ	(0.147)	(0.007)
LEV	0.138^*	0.391^**	−0.077	1.000
LEV	(0.028)	(0.000)	(0.218)
FSIZE	0.397^**	0.404^**	−0.261^**	0.499^**
FSIZE	(0.000)	(0.000)	(0.000)	(0.000)
FAGE	0.304^**	0.257^**	0.073	0.309^**
FAGE	(0.000)	(0.000)	(0.249)	(0.000)
BSIZE	0.342^**	0.232^**	0.021	0.171^**
BSIZE	(0.000)	(0.000)	(0.742)	(0.006)
BIG4	0.357^**	0.213^**	0.088	−0.032
BIG4	(0.000)	(0.001)	(0.160)	(0.616)
STATEOWN	0.270^**	0.333^**	−0.190^**	0.277^**
STATEOWN	(0.000)	(0.000)	(0.002)	(0.000)

Note(s): t-statistics in parentheses; ^*, ^**, and ^*** denote significance at 10%, 5%, and 1% levels respectively

Source(s): The authors (2024)