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논문 기본 정보
- 자료유형
- 학술저널
- 저자정보
- 저널정보
- 한국경영과학회 경영과학 經營科學 第40卷 第2號
- 발행연도
- 2023.6
- 수록면
- 59 - 75 (17page)
- DOI
- 10.7737/KMSR.2023.40.2.059
이용수
초록· 키워드
The significance of ESG activities as a management strategy for corporate sustainability has been widely recognized. However, previous studies have produced conflicting results regarding the relationship between ESG activities and financial performance. This study specifically examines the impact of ESG activities on the financial performance of Korean firms, taking into account the moderating effect of company type (B2C or B2B).
The results, derived from panel data analysis, reveal the following key findings: 1) ESG scores have a significantly positive effect on stock price returns, 2) positive governance activities positively influence both stock price returns and profitability (ROA), and 3) company type exerts a significant moderating effect on ROA. In the case of B2C companies, compared to B2B companies, there exists a positive moderating effect on the relationship between environmental activities and ROA, while a negative moderating effect is observed between social and governance activities and ROA. This implies that consumer-focused B2C companies derive benefits from adopting eco-friendly practices, whereas business-focused B2B companies benefit from implementing social and governance practices to manage supply risks.
상세정보 수정요청해당 페이지 내 제목·저자·목차·페이지The results, derived from panel data analysis, reveal the following key findings: 1) ESG scores have a significantly positive effect on stock price returns, 2) positive governance activities positively influence both stock price returns and profitability (ROA), and 3) company type exerts a significant moderating effect on ROA. In the case of B2C companies, compared to B2B companies, there exists a positive moderating effect on the relationship between environmental activities and ROA, while a negative moderating effect is observed between social and governance activities and ROA. This implies that consumer-focused B2C companies derive benefits from adopting eco-friendly practices, whereas business-focused B2B companies benefit from implementing social and governance practices to manage supply risks.
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목차
- Abstract
- 1. 서론
- 2. 이론적 배경 및 선행 연구
- 3. 연구 가설
- 4. 실증 분석
- 5. 분석 결과 및 논의
- 6. 결론
- 참고문헌
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