Table 3. Correlation matrix Correlations... | Emerald Publishing

Table 3.

Correlation matrix

Correlations matrix
Variables	ROIC	ROE	ROA	EPS	ESGs-core	E	S	G	β	Firm Leverage	Firm size	Unsystem-atic risk	Moder_ E-SG*Fsize	Moder_ ENV*Fsize	Moder_ SOC*Fsize	Moder_ GOV*Fsize
ROIC	1
ROE	0.525**	1
ROA	−0.035	0.265**	1
EPS	0.221**	0.170*	0.004	1
ESGScore	−0.017	−0.105	−0.190*	−0.122	1
E	−0.087	−0.156	−0.235**	−0.049	0.802**	1
S	−0.026	−0.177*	−0.179*	−0.149	0.872**	0.629**	1
G	0.085	−0.053	−0.087	−0.081	0.777**	0.351**	0.612**	1
β	0.015	−0.109	−0.065	−0.119	−0.088	−0.109	−0.011	−0.025	1
Firm Leverage	0.270**	0.281**	−0.596**	0.007	0.228**	0.163*	0.115	0.218**	0.026	1
Firm Size	0.268**	0.034	−0.489**	0.449**	0.309**	0.381**	0.266**	0.192*	−0.014	0.433**	1
Unsystematic risk	−0.155	−0.152	−0.033	−0.221**	0.237**	0.121	0.087	0.257**	0.046	0.280**	−0.141	1
Moder_ESG_Fsize	0.370**	0.099	−0.367**	0.041	0.435**	0.401**	0.375**	0.319**	0.216**	0.306**	0.573**	0.070	1
Moder_ENV*Fsize	0.423**	0.172*	−0.250**	0.055	0.374**	0.366**	0.310**	0.270**	0.208*	0.301**	0.550**	0.096	0.905**	1
Moder_SOC*Fsize	0.359**	0.134	−0.260**	0.002	0.428**	0.379**	0.374**	0.305**	0.231**	0.250**	0.535**	0.054	0.900**	0.830**	1
Moder_GOV*Fsize	0.174*	−0.039	−0.392**	0.052	0.335**	0.303**	0.281**	0.275**	0.174*	0.221**	0.405**	0.041	0.790**	0.549**	0.519**	1

Correlations matrix
Variables	ROIC	ROE	ROA	EPS	ESGs-core	E	S	G	β	FirmLeverage	Firmsize	Unsystem-aticrisk	Moder_E-SG*Fsize	Moder_ENV*Fsize	Moder_SOC*Fsize	Moder_GOV*Fsize
ROIC	1
ROE	0.525**	1
ROA	−0.035	0.265**	1
EPS	0.221**	0.170*	0.004	1
ESGScore	−0.017	−0.105	−0.190*	−0.122	1
E	−0.087	−0.156	−0.235**	−0.049	0.802**	1
S	−0.026	−0.177*	−0.179*	−0.149	0.872**	0.629**	1
G	0.085	−0.053	−0.087	−0.081	0.777**	0.351**	0.612**	1
β	0.015	−0.109	−0.065	−0.119	−0.088	−0.109	−0.011	−0.025	1
Firm Leverage	0.270**	0.281**	−0.596**	0.007	0.228**	0.163*	0.115	0.218**	0.026	1
Firm Size	0.268**	0.034	−0.489**	0.449**	0.309**	0.381**	0.266**	0.192*	−0.014	0.433**	1
Unsystematic risk	−0.155	−0.152	−0.033	−0.221**	0.237**	0.121	0.087	0.257**	0.046	0.280**	−0.141	1
Moder_ESG_Fsize	0.370**	0.099	−0.367**	0.041	0.435**	0.401**	0.375**	0.319**	0.216**	0.306**	0.573**	0.070	1
Moder_ENV*Fsize	0.423**	0.172*	−0.250**	0.055	0.374**	0.366**	0.310**	0.270**	0.208*	0.301**	0.550**	0.096	0.905**	1
Moder_SOC*Fsize	0.359**	0.134	−0.260**	0.002	0.428**	0.379**	0.374**	0.305**	0.231**	0.250**	0.535**	0.054	0.900**	0.830**	1
Moder_GOV*Fsize	0.174*	−0.039	−0.392**	0.052	0.335**	0.303**	0.281**	0.275**	0.174*	0.221**	0.405**	0.041	0.790**	0.549**	0.519**	1

Notes:

Significance levels: means

**

p < 0.01, means

*

p < 0.05 (two-tailed) and N = 152