텍스트 마이닝을 활용한 ESG 경영 보고서와 ESG 언론보도 간 관련성 탐색: 네트워크 의제 설정 모델을 중심으로

This study investigates how corporations and media communicate about ESG to the public and examines the interaction between them. Focusing on the Intermedia Network Agenda Setting Model, the study conducted semantic network analysis, QAP correlation analysis, and MR-QAP regression analysis on 150 ESG reports published by 30 companies and 26,519 news articles related to ESG reported by major daily newspapers, economic journals, and broadcasters from 2019 to 2023. Conclusions can be drawn: First, a compositional similarity between ESG reports and ESG-related media coverage was identified, with ESG reports predominantly addressing management risk factors, whereas media coverage distinctively featured topics related to investments and financial products. Second, a significant correlation was found between ESG reports and ESG-related media coverage, and the MR-QAP regression analysis after 2021 confirmed that ESG reports influenced media coverage of ESG issues. This suggests that the media may not be effectively fulfilling its watchdog role regarding ESG, and emphasizes the need for the media to avoid becoming entrenched in promotional journalism that solely highlights corporate ESG achievements. Furthermore, by demonstrating the occurrence of intermedia network agenda setting effects between ESG reports and ESG-related media coverage, this study not only revalidates the theory but also extends its analytical scope, providing theoretical implications for future research.