Earticle

초록

영어

The purpose of this study is to empirically examine the impact of corporate ESG activities on intangible assets and research and development (R&D) expenditures. The research sample consists of 4,457 firm-year observations from companies listed on the KOSPI and KOSDAQ between 2011 and 2019, excluding those in the financial industry. ESG ratings provided by the Korea Corporate Governance Service (KCGS) were used as the independent variables. The dependent variables were defined as the ratio of intangible assets to total assets and the ratio of R&D expenditures to sales, while the independent variables included the ESG overall score and the sub-scores for environment (E), social (S), and governance (G). Pearson correlation analysis and multiple regression analysis were employed as the primary methodologies. The results indicate that the overall ESG score has a statistically significant positive effect on both intangible assets and R&D expenditures. Specifically, the environmental (E) score shows a significant positive relationship with R&D but not with intangible assets, while the social (S) and governance (G) scores exhibit significant positive relationships with both intangible assets and R&D expenditures. These findings suggest that ESG activities contribute substantially to the accumulation of intangible resources and the expansion of innovation-related investments. This study empirically demonstrates that ESG activities are closely linked to strategic resources such as intangible assets and R&D expenditures. The findings imply that ESG management not only fulfills corporate social responsibility but also enhances innovation capacity and fosters the foundation for sustainable growth.

키워드

저자

• 김세환 [ KB증권 애널리스트 ]
• 김동현 [ 중앙대학교 박사 ]
• 이창섭 [ 세종대학교 정교수 ]
• 장석준 [ 세종대학교 박사과정 / 레이크브릿지파트너스 CEO ]

참고문헌

발행기관

간행물

표지보기 관심저널 등록

• 간행물명

  한국전문경영인학회 학술대회 발표논문집

• 간기

  반년간

• 수록기간

  2016~2026

• 십진분류

  KDC 325 DDC 330