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Table 2 Linear correlations of the variables used. The sample period runs from 2008 to 2014

From: Empirical study on relationship between corporate social responsibility and financial performance in Korea

 

EDS

SDS

GDS

ROE

MBR

Stock Return

Leverage

Asset size

EDS

1

       

SDS

0.8445

1

      

GDS

0.8321

0.8435

1

     

ROE

0.0307

0.0655

0.0858

1

    

MBR

0.1610

0.2114

0.1642

0.1461

1

   

Stock Return

0.0164

0.0226

0.004

0.1556

0.0565

1

  

Leverage

0.1232

0.1075

0.163

-0.2868

-0.1164

-0.0353

1

 

Asset size

0.6339

0.5651

0.6334

0.0364

-0.147

-0.0847

0.3182

1

  1. The variables are EDS environmental disclosure score, SDS social disclosure score, GDS governance disclosure score, ROE return on equity, MBR market-to-book ratio implying Tobin q, Stock Return annual stock market return, Leverage leverage ratio as proxy for risk, Log (Asset size) log value of asset size
  2. Data source: Bloomberg