Table 4 Correlation matrix between... | Emerald Publishing

Table 4

Correlation matrix between variables

	ESG_INDEX	Tobins' Q	Audit quality	Leverage	Profitability	Firm size
ESG_INDEX	1
Tobins' Q	0.241^**	1
Audit Quality	0.111*	0.488**	1
Leverage	−0.059	0.088	0.010	1
Profitability	0.209^**	0.209^**	−0.022	0.048	1
Firm Size	−0.184^**	−0.208^**	−0.236^**	0.477^**	−0.085	1

	ESG_INDEX	Tobins' Q	Audit quality	Leverage	Profitability	Firm size
ESG_INDEX	1
Tobins' Q	0.241^**	1
Audit Quality	0.111*	0.488**	1
Leverage	−0.059	0.088	0.010	1
Profitability	0.209^**	0.209^**	−0.022	0.048	1
Firm Size	−0.184^**	−0.208^**	−0.236^**	0.477^**	−0.085	1

Source(s): Table by authors