Table 2.

Pearson correlation analysis.

		(1)	(2)	(3)	(4)	(5)	(6)	(7)	(8)	(9)	(10)	(11)	(12)	(13)	(14)	(15)	(16)
(1)	Cdindex	1.000
(2)	Treat_CSR	.260***	1.000
(3)	Post_CSR	.297***	.548***	1.000
(4)	Treat_com	.117***	.660***	.364***	1.000
(5)	Post_com	.201***	.401***	.731***	.607***	1.000
(6)	Treat_emp	.145***	.481***	.271***	.195***	.104***	1.000
(7)	Post_emp	.164***	.330***	.588***	.142***	.319***	.686***	1.000
(8)	Treat_cus	.249***	.660***	.375***	.398***	.249***	.302***	.209***	1.000
(9)	Post_cus	.280***	.422***	.755***	.247***	.533***	.191***	.426***	.639***	1.000
(10)	Growth	.146***	.044***	.029**	−.083***	−.056***	.135***	.088***	.241***	.152***	1.000
(11)	Roa	−.085***	.210***	.125***	.191***	.118***	.199***	.137***	.217***	.147***	−.213***	1.000
(12)	Loss	.162***	−.187***	−.115***	−.100***	−.058***	−.214***	−.161***	−.225***	−.155***	.175***	−.811***	1.000
(13)	Size	.050***	.169***	.106***	.251***	.156***	.133***	.104***	.249***	.175***	−.016	.337***	−.286***	1.000
(14)	Lev	.007	.238***	.132***	.180***	.123***	−0.003	−0.003	.069***	.048***	.141***	−.500***	.375***	.102***	1.000
(15)	Stkhd	.171***	−.228***	−.132***	−.032**	−.016	−.228***	−.152***	.014	−.010	.173***	−.312***	.469***	.147***	−0.005	1.000
(16)	Board	−0.112***	.126***	.056***	.137***	.067***	.173***	.127***	.160***	.088***	.162***	−.035***	.035***	.340***	.194***	.110***	1.000

Note: ***, ** and * represent the 1%, 5% and 10 % levels of significance, respectively.