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. 2020 Jan 20;17(2):663. doi: 10.3390/ijerph17020663

Table 1.

Correlation matrix, means, and standard deviations.

Mean SD CSR ENV SOC GOV HCE SCE CEE LEV SIZE RDI ROA TOBIN’S
CSR 47.62 11.79 1.00
ENV 53.35 16.49 0.87 *** 1.00
SOC 56.04 14.45 0.93 *** 0.82 *** 1.00
GOV 33.40 12.47 0.61 *** 0.20 *** 0.40 *** 1.00
HCE 11.23 39.56 −0.04 −0.08 −0.05 0.06 1.00
SCE 7.12 × 10−7 0.00 −0.09 −0.17 *** −0.13 ** 0.11 ** 0.93 *** 1.00
CEE 0.48 0.21 0.15 *** 0.19 *** 0.17 *** −0.02 0.25 *** 0.16 *** 1.00
LEV 64.36 88.45 0.03 −0.07 −0.01 0.19 −0.10 −0.07 −0.50 1.00
SIZE 19.39 2.09 0.06 0.29 *** 0.19 *** −0.44 *** −0.14 ** −0.35 *** −0.12 ** 0.17 *** 1.00
RDI 0.02 0.02 0.12 ** 0.02 0.11 ** 0.17 *** −0.11 −0.07 −0.06 0.07 −0.10 1.00
ROA 6.35 5.04 0.14 ** 0.05 0.13 ** 0.18 *** 0.01 0.03 0.47 *** −0.26 *** −0.36 *** 0.09 1.00
TOBIN’S 1.52 × 10−3 1.78 × 10−3 0.11 ** 0.09 0.10 0.09 −0.01 0.03 0.47 *** −0.35 *** −0.32 *** 0.15 ** 0.75 *** 1.00

Note: ** indicates significance, two-tailed, at the 5% level; *** indicates significance, two-tailed, at the 1% level. LEV: ratio of total liabilities to total assets; SIZE: the natural logarithm of the total assets; RDI: the research and development (R&D) intensity based on the ratio of R&D expenditure to total assets.