Effects of Corporate Social Responsibility and Governance on Its Credit Ratings

Table 6

Pearson correlation between variables.

	CFR	CSR	CGI	ΔASST	ΔREC	ΔINV	ΔROA	ΔDEBT
CFR	1
CSR	0.060***	1
CGI	0.180***	0.195***	1
ΔASST	0.074***	−0.017	0.007	1
ΔREC	−0.003	−0.023	0.069***	−0.008	1
ΔINV	−0.009	−0.015	0.038	0.02	0.053	1
ΔROA	0.016	0.036*	0.024	−0.004	0.016	0.012	1
ΔDEBT	−0.007**	−0.012	−0.006	0.01	0.05	0.024	−0.014	1

< 0.05, < 0.01, and < 0.001.