ESG 경영에 대한 부정적 언론보도가 기업주가에 미치는 영향

Changes in the external environment surrounding companies, such as global warming and COVID-19, are demanding new management methods that are different from existing management methods. ESG management, which has recently become increasingly important, is a new management method for companies, which requires social value creation and environmental protection along with the pursuit of profit. This study tried to examine the relationship between ESG management and corporate value. There are various limitations in examining the long-term relationship between the two, so we focused on the short-term relationship through the Case Study. The stock price movement of a company was analyzed by taking the case that a company's ESG management violation was reported through the media as an Event. As a result of the study, it was found that negative media reports about a company's ESG management violation lowered the company's value by 4.66-18.67%. In addition, when a company's market capitalization is large, the negative media reports have more impact on the company's stock price.