중소기업의 ESG 성과가 경영자 보상에 미치는 영향

[Purpose] This study aims to analyze the impact of ESG performance on executive compensation of domestic small and medium－sized enterprises and to determine how this relationship varies depending on corporate characteristics such as company size and governance quality. [Methodology] A survey was conducted targeting small and medium－sized enterprises located in Busan, Ulsan, and Gyeongnam. Based on the survey data from 130 companies, multiple regression analysis and moderated regression analysis were conducted to verify the impact of ESG performance on executive compensation and the moderating effects of corporate size and governance quality. [Findings] ESG performance was found to have a positive impact on executive compensation. Next, we analyzed whether company size and governance quality moderated the impact of ESG performance on executive compensation. Results showed that ESG performance had a stronger positive impact on executive compensation in larger companies and with better governance quality. [Implications] This study is significant in that it expands the existing research on executive compensation and ESG performance, which was focused on large corporations, to the small and medium－sized enterprise sector.