제약․바이오 기업의 경영전략 유형이 비재무적 성과에 미치는 영향*：기술혁신 활동의 조절 효과를 고려하여

[Purpose]We would like to clarify the impact of management strategy types on ESG ratings for pharmaceutical and bio companies, which are major industrial sectors in Korea. Most of the existing studies examine the impact of corporate management strategies and innovation on financial performance, and not many studies have been conducted on non－financial performance or management performance classified by industry. Accordingly, in terms of non－financial performance, we would like to examine the impact of pharmaceutical and bio companies’ management strategies on ESG evaluation grades and the moderating effect of innovative activities. [Methodology]The evaluation grade of the Korea ESG Standards Institute was used. As of 2022, Fn Data－Guide financial statements were collected from 90 pharmaceutical and bio companies that received ESG evaluation ratings to distinguish the types of management strategies of companies and conduct regression analysis [Findings]It was found to have a significant positive (＋) effect on all grades of integration (T), environment (E), society (S), and governance (G). In addition, open innovation activities have been confirmed that leading management strategies have a negative (－) effect on integrated (T) and social (S) grades. [Policy Implications]Since leading management strategies are highly related to ESG evaluation, efforts should be made to establish and implement leading management strategies to create sustainable management and long－term value In addition, it is necessary to understand ESG evaluation criteria in consideration of industrial characteristics and prepare a response strategy to reflect them.