패션기업의 ESG 경영이 재무성과에 미치는 영향

[Purpose] This study aims to investigate how ESG management of fashion companies affects financial performance. [Methodology] For specific verification, difference analysis, correlation analysis, and regression analysis were conducted by measuring whether fashion companies listed on Korean Securities Exchange were subject to ESG evaluation, ESG integrated rating, and scores for each detailed item of E, S, and G during the sample period. [Findings] As a result of analyzing the ESG management and financial performance of fashion companies, whether or not they were subject to ESG evaluation did not have a significant impact on financial performance. However, in the results of analyzing only the fashion companies that were evaluated, the ESG integrated rating and the G rating had a positive effect on the operating profit ratio, which is a proxy for financial performance. These results showed consistent results in additional analyzes that classified groups based on listing period and company size, confirming that ESG integrated evaluation and governance elements are important factors in management performance for fashion companies. [Implications] This study is significant in that it analyzed the performance of ESG management of fashion companies using specific and objective measures.