기업의 지속가능경영 활동이 수익성과 기업가치에 미치는 영향에 관한 연구

[Purpose]This study aims to empirically analyze whether a company’s ESG activities are factors that increase its value and to provide empirical analysis and implications to confirm the role of profitability. [Methodology]In order to verify the role of ESG activities and profitability in increasing corporate value, the analysis using ROESG scores and the impact of the group on corporate value were compared and verified by dividing it into four groups based on ESG grade and return on equity (ROE). [Findings]The research results are summarized as follows. ESG activities of companies are factors that increase corporate value, and companies that are good at profitability and sustainable management activities of the previous year can expect additional corporate value increases, so companies should consider profitability and ESG activities as a whole. It was also confirmed that for companies with poor ESG ratings, improving profitability is more effective in improving corporate value than performing ESG activities. [Implications]It can be seen that companies should focus on generating profits, which is the primary purpose of the company, prior to ESG activities, and companies with excellent profitability should engage in ESG activities together to increase corporate value.