코스닥 기업의 ESG 활동이 기업가치에 미치는 영향

Abstract

The purpose of this study is to analyze the impact of ESG activities of KOSDAQ companies on future corporate value. This study verifies the level of ESG activities of KOSDAQ companies, which have a relatively high burden of expenditures compared to KOSPI companies, and the impact of such activities on corporate value. The ESG activities of companies were analyzed using the ESG evaluation index, and the relationship with corporate value was analyzed by dividing them into total scores and individual scores. The results of the analysis showed that the total ESG score and the scores for the social (S) and governance (G) areas showed a significant positive (+) relationship with corporate value, but the environment (E) section showed a significant negative (-) relationship. This can be interpreted that the more active the ESG activities are in all areas except the environment, the higher the corporate value. The results of this study are thought to have implications for institutions and governments that disclose and manage the scores by examining the results of social responsibility activities of KOSDAQ companies.