Table 4 Correlation matrix

Z

1

ENV

 − 0.308*

1

0.000

SOC

 − 0.248*

0.798*

1

0.000

0.000

GOV

 − 0.152*

0.298*

0.198*

1

0.0213

0.000

0.003

LEV

 − 0.742*

0.216*

0.215*

0.0546

1

0.000

0.001

0.001

0.410

PROF

0.4255*

 − 0.121

 − 0.1400*

 − 0.0489

 − 0.4010*

1

0.000

0.067

0.034

0.460

0.000

LIQ

0.5738*

 − 0.3199*

 − 0.2897*

 − 0.102

 − 0.3847*

0.0957

1

0.000

0.000

0.000

0.124

0.000

0.148

SIZE

0.0283

0.5019*

0.4003*

0.1693*

 − 0.0868

0.0372

 − 0.2450*

1

0.670

0

0

0.010

0.190

0.575

0.000