Skip to main content

Table 5 Correlations

From: Analysis of corporate sustainability performance and corporate financial performance causal linkage in the Indian context

  ESG E S G ROA ROE TOBINSQ FAGE FSIZE R_D RISK
ESG 1           
E 0.9577*** 1          
S 0.8411*** 0.6769*** 1         
G 0.7734*** 0.6972*** 0.5603*** 1        
ROA 0.0379* 0.0500** 0.0013 0.0835*** 1       
ROE 0.0133 0.0281 −0.0296 0.0490** 0.7142*** 1      
TOBINSQ −0.02 −0.0481** 0.0446** 0.0136 0.6139*** 0.4198*** 1     
FAGE 0.0198 0.0188 0.0626*** −0.0896*** −0.0393* 0.014156 0.012291 1    
FSIZE 0.474017 0.3801*** 0.5300*** 0.3722*** 0.1949*** 0.1597*** 0.2655*** 0.0546** 1   
R_D −0.0043 0.0075 −0.0183 −0.0088 0.0637*** 0.0319 0.0494** 0.0291 0.0636*** 1  
RISK −0.0477** −0.0754*** 0.0238 −0.0910*** − 0.4901*** −0.4186*** − 0.3942*** 0.0063 − 0.1534*** −0.1321*** 1
  1. *,**,*** means significant at the 0.10, 0.05 and 0.01 level respectively