Table 4. Pearson correlation matrix...

Table 4.

Pearson correlation matrix

	Variables	1	2	3	4	5	6	7	8	9	10	11	12	13	14	15	16	17	18	19	20	21	22	23
1	ESG_Performance	1.00
2	Environmental sustainability in executive compensation	0.01	1.00
3	Social sustainability in executive compensation	0.33	0.11	1.00
4	Board independence	0.54	0.12	0.35	1.00
5	Board gender diversity	−0.02	−0.06	−0.03	0.04	1.00
6	Board size	0.05	−0.28	0.09	−0.02	0.00	1.00
7	CEO–Chair separation	0.22	0.05	0.04	0.07	0.06	0.10	1.00
8	Sustainability committee	0.44	0.08	0.18	0.22	0.29	0.10	0.38	1.00
9	Compensation committee independence	0.30	0.04	0.18	0.39	0.35	0.01	0.31	0.34	1.00
10	Effect of board independence on environmental sustainability	0.08	0.97	0.15	0.31	0.00	−0.24	0.09	0.14	0.15	1.00
11	Effect of board independence on social sustainability	0.50	0.12	0.85	0.75	0.05	0.04	0.12	0.28	0.25	0.25	1.00
12	Effect of board gender diversity on environmental sustainability	0.02	0.94	0.09	0.16	0.24	−0.26	0.10	0.22	0.19	0.95	0.14	1.00
13	Effect of board gender diversity on social sustainability	0.45	0.08	0.30	0.79	0.61	−0.04	0.07	0.31	0.48	0.25	0.64	0.27	1.00
14	Effect of board size on environmental sustainability	0.02	0.99	0.11	0.12	−0.06	−0.19	0.06	0.09	0.03	0.97	0.12	0.94	0.08	1.00
15	Effect of board size on social sustainability	0.31	0.02	0.96	0.33	−0.02	0.33	0.05	0.19	0.20	0.07	0.82	0.01	0.27	0.05	1.00
16	Effect of CEO duality on environmental sustainability	0.02	0.88	0.04	0.17	0.06	−0.18	0.44	0.23	0.22	0.90	0.13	0.89	0.17	0.88	−0.02	1.00
17	Effect of CEO duality on social sustainability	0.35	0.88	0.54	0.32	0.10	0.08	0.81	0.41	0.40	0.14	0.58	0.11	0.32	0.06	0.52	0.36	1.00
18	Effect of sustainability committee on environmental sustainability	0.11	0.94	0.11	0.20	0.13	−0.23	0.17	0.38	0.21	0.95	0.18	0.97	0.23	0.93	0.04	0.91	0.18	1.00
19	Effect of sustainability committee on social sustainability	0.55	0.15	0.31	0.64	0.24	0.04	0.37	0.82	0.35	0.28	0.61	0.26	0.63	0.16	0.29	0.29	0.50	0.38	1.00
20	Effect of compensation committee independence on environmental sustainability	0.04	0.94	0.10	0.23	0.12	−0.23	0.16	0.22	0.33	0.96	0.19	0.96	0.25	0.93	0.03	0.93	0.18	0.96	0.27	1.00
21	Effect of compensation committee independence on social sustainability	0.41	0.06	0.81	0.49	0.21	0.11	0.26	0.37	0.68	0.17	0.83	0.16	0.52	0.07	0.8	0.17	0.66	0.20	0.47	0.25	1.00
22	Firm size	−0.09	0.20	−0.05	0.16	−0.04	−0.08	−0.11	−0.27	0.08	0.24	0.00	0.19	0.09	0.20	−0.06	0.20	−0.11	0.15	−0.16	0.22	−0.01	1.00
23	Profitability	0.03	0.05	0.03	−0.10	0.04	−0.01	−0.56	0.12	−0.04	−0.07	−0.05	−0.04	−0.06	−0.05	0.04	−0.24	−0.41	0.00	−0.08	−0.04	0.01	−0.01	1.00

	Variables	1	2	3	4	5	6	7	8	9	10	11	12	13	14	15	16	17	18	19	20	21	22	23
1	ESG_Performance	1.00
2	Environmental sustainability in executive compensation	0.01	1.00
3	Social sustainability in executive compensation	0.33	0.11	1.00
4	Board independence	0.54	0.12	0.35	1.00
5	Board gender diversity	−0.02	−0.06	−0.03	0.04	1.00
6	Board size	0.05	−0.28	0.09	−0.02	0.00	1.00
7	CEO–Chair separation	0.22	0.05	0.04	0.07	0.06	0.10	1.00
8	Sustainability committee	0.44	0.08	0.18	0.22	0.29	0.10	0.38	1.00
9	Compensation committee independence	0.30	0.04	0.18	0.39	0.35	0.01	0.31	0.34	1.00
10	Effect of board independence on environmental sustainability	0.08	0.97	0.15	0.31	0.00	−0.24	0.09	0.14	0.15	1.00
11	Effect of board independence on social sustainability	0.50	0.12	0.85	0.75	0.05	0.04	0.12	0.28	0.25	0.25	1.00
12	Effect of board gender diversity on environmental sustainability	0.02	0.94	0.09	0.16	0.24	−0.26	0.10	0.22	0.19	0.95	0.14	1.00
13	Effect of board gender diversity on social sustainability	0.45	0.08	0.30	0.79	0.61	−0.04	0.07	0.31	0.48	0.25	0.64	0.27	1.00
14	Effect of board size on environmental sustainability	0.02	0.99	0.11	0.12	−0.06	−0.19	0.06	0.09	0.03	0.97	0.12	0.94	0.08	1.00
15	Effect of board size on social sustainability	0.31	0.02	0.96	0.33	−0.02	0.33	0.05	0.19	0.20	0.07	0.82	0.01	0.27	0.05	1.00
16	Effect of CEO duality on environmental sustainability	0.02	0.88	0.04	0.17	0.06	−0.18	0.44	0.23	0.22	0.90	0.13	0.89	0.17	0.88	−0.02	1.00
17	Effect of CEO duality on social sustainability	0.35	0.88	0.54	0.32	0.10	0.08	0.81	0.41	0.40	0.14	0.58	0.11	0.32	0.06	0.52	0.36	1.00
18	Effect of sustainability committee on environmental sustainability	0.11	0.94	0.11	0.20	0.13	−0.23	0.17	0.38	0.21	0.95	0.18	0.97	0.23	0.93	0.04	0.91	0.18	1.00
19	Effect of sustainability committee on social sustainability	0.55	0.15	0.31	0.64	0.24	0.04	0.37	0.82	0.35	0.28	0.61	0.26	0.63	0.16	0.29	0.29	0.50	0.38	1.00
20	Effect of compensation committee independence on environmental sustainability	0.04	0.94	0.10	0.23	0.12	−0.23	0.16	0.22	0.33	0.96	0.19	0.96	0.25	0.93	0.03	0.93	0.18	0.96	0.27	1.00
21	Effect of compensation committee independence on social sustainability	0.41	0.06	0.81	0.49	0.21	0.11	0.26	0.37	0.68	0.17	0.83	0.16	0.52	0.07	0.8	0.17	0.66	0.20	0.47	0.25	1.00
22	Firm size	−0.09	0.20	−0.05	0.16	−0.04	−0.08	−0.11	−0.27	0.08	0.24	0.00	0.19	0.09	0.20	−0.06	0.20	−0.11	0.15	−0.16	0.22	−0.01	1.00
23	Profitability	0.03	0.05	0.03	−0.10	0.04	−0.01	−0.56	0.12	−0.04	−0.07	−0.05	−0.04	−0.06	−0.05	0.04	−0.24	−0.41	0.00	−0.08	−0.04	0.01	−0.01	1.00

[ViewLarge]

Sharing Unavailable