Table 2.

Summary of Pearson's correlations.

Variables	(1)	(2)	(3)	(4)	(5)	(6)	(7)	(8)	(9)	(10)	(11)	(12)	(13)	(14)	(15)	(16)	(17)	(18)
(1) RETURNS	1.000
(2) COVID-19	−0.227***	1.000
(3) CSR_Total	0.003	−0.000	1.000
(4) CSR_C	0.020	0.000	0.69156***	1.000
(5) CSR_Em	−0.011	−0.000	0.826***	0.504***	1.000
(6) CSR_En	0.004	0.000	0.887***	0.405***	0.558***	1.000
(7) SIZE	−0.009	−0.000	0.731***	0.349***	0.740***	0.636***	1.000
(8) LEV	−0.004	0.000	0.133***	0.078***	0.069***	0.153***	0.124***	1.000
(9) ROA	−0.015	−0.000	0.245***	0.219***	0.169***	0.217***	0.219***	−0.010	1.000
(10) MTB	−0.006	0.000	0.175***	0.093***	0.105***	0.195***	0.132***	0.984	0.010	1.000
(11) FR	0.004	0.000	0.036	0.101***	−0.154***	0.110***	−0.145***	0.182	0.262***	0.158***	1.000
(12) INT	−0.013	−0.000	0.550***	0.323***	0.499***	0.487***	0.416***	0.104	0.256***	0.137***	−0.035	1.000
(13) TIME	0.099***	−0.434***	0.000	−0.000	−0.000	−0.000	−0.000	0.000	−0.000	−0.000	−0.000	−0.000	1.000
(14) SINDEX	0.144***	−0.207***	−0.000	0.000	−0.000	−0.000	0.000	−0.000	−0.000	0.000	0.000	0.000	0.678***	1.000
(15) FISCAL_1	−0.154***	0.535***	0.009	0.006	0.011	0.007	0.008	0.000	0.001	0.001	−0.003	0.010	−0.154***	−0.180***	1.000
(16) FISCAL_2	0.226***	0.337***	−0.009	−0.006	−0.011	−0.007	−0.008	−0.000	−0.001	−0.001	0.003	−0.010	−0.119***	0.097***	−0.021	1.000
(17) CB_1	−0.240***	0.437***	−0.000	0.000	0.000	−0.000	−0.000	0.000	0.000	−0.000	0.000	−0.000	−0.142***	−0.133***	−0.022	−0.021	1.000
(18) CB_2	−0.200***	0.422***	−0.000	−0.000	0.000	−0.000	−0.000	0.000	0.000	−0.000	0.000	−0.000	−0.132***	0.069***	−0.022	−0.021	−0.021	1.000

Notes: ***p < 0.01, **p < 0.05.