Table 3. Measurement model results:...

Table 3.

Measurement model results: Fornell–Larcker and HTMT tests of discriminant validity

Construct	Fornell–Larcker					HTMT ratios
Construct	SNMS	MS	Stakeholder performance	CFP	Firm size (revenues)	SNMS	MS	Stakeholder performance	CFP	Firm size (revenues)
SNMS	0.819					-----
MS	0.200	0.657				0.190	-----
Stakeholder performance	0.286	0.482	0.746			0.279	0.429	-----
CFP	−0.105	0.499	0.453	0.836		0.129	0.448	0.451	-----
Firm size (Rev.)	−0.153	0.078	−0.069	−0.106	N/A	0.153	0.088	0.069	0.101	-----

Construct	Fornell–Larcker					HTMT ratios
Construct	SNMS	MS	Stakeholder performance	CFP	Firm size (revenues)	SNMS	MS	Stakeholder performance	CFP	Firm size (revenues)
SNMS	0.819					-----
MS	0.200	0.657				0.190	-----
Stakeholder performance	0.286	0.482	0.746			0.279	0.429	-----
CFP	−0.105	0.499	0.453	0.836		0.129	0.448	0.451	-----
Firm size (Rev.)	−0.153	0.078	−0.069	−0.106	N/A	0.153	0.088	0.069	0.101	-----

Notes:

SNMS = social nonmarket strategy; MS = market strategy; CFP = corporate financial performance; Values on the Fornell–Larcker diagonal are square roots of construct-level AVE

Source:Author's own work

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