Enhancing environmental sustainability through corporate governance: the merger and acquisition perspective

Table 9 Pearson correlation between explanatory variable with error term for both manufacturing and mining industries

Model	Pearson Correlation for Manufacturing	Pearson Correlation for Mining
EP	− 0.01	− 0.06
	(0.99)	(0.99)
CSR	− 0.01	− 0.01
	(0.99)	(0.99)
EC	0.02	− 0.01
	(0.98)	(0.99)
RD	− 0.01	0.07
	(0.99)	(0.96)
GF	N/A	− 0.01
		(0.99)

This table reports Pearson correlation between explanatory variable with error term for both manufacturing and mining industries of each model regarding Hypotheses 1–4. P values are in parentheses

ISSN: 2192-0567