Korean Academic Society of Business Administration
[ Article ]
korean management review - Vol. 52, No. 4, pp.885-911
ISSN: 1226-1874 (Print)
Print publication date 31 Aug 2023
Received 26 Jan 2023 Revised 07 Jun 2023 Accepted 10 Jun 2023
DOI: https://doi.org/10.17287/kmr.2023.52.4.885

ESG 압력이 기업의 혁신활동에 미치는 영향: 규제 및 규범적 압력의 효과를 중심으로

Sumin Kim ; Jaemin Park ; Kang Ho Bong
(First Author) Konkuk University sumin1074@konkuk.ac.kr
(Corresponding Author) Konkuk University jpark@konkuk.ac.kr
(Co-Author) Software Policy & Research Institute, SPRI bk91@spri.kr
The Effects of ESG Pressures on Corporate Innovation Activities: Focusing on Regulative and Normative Pressures


Copyright 2011 THE KOREAN ACADEMIC SOCIETY OF BUSINESS ADMINISTRATION
This is an open access article distributed under the terms of the Creative Commons Attribution License 4.0, which permits unrestricted, distribution, and reproduction in any medium, provided the original work is properly cited.

Abstract

Recently, with the emphasis on ESG management worldwide, social pressure on ESG management is increasing. ESG is driven by two contradictory pressures: ’responsibility required from society’ and ’voluntary participation of companies’, and ESG activities are sustainable, if the two pressures work together. From the view of maximizing social benefit, it is necessary to identify the optimal pressure level. Therefore, this study aims to empirically examine the relationship between regulatory⋅normative ESG pressure and corporate innovation activities from the perspective of institutional theory. Innovation as an ESG activity enables companies to achieve revenue generation through ESG activities, enabling sustainable ESG activities. As a result of the analysis, it was confirmed that regulatory ESG pressure had an inversed U-shape relationship with innovation activities, and normative ESG pressure had a U-shape relationship.

Keywords:

ESG, Sustainable management, Innovation activities, Sentiment analysis, Institutional theory

Acknowledgments

This work was supported by the Ministry of Education of the Republic of Korea and the National Research Foundation of Korea(NRF-2022S1A5A2A03056146).

This paper is a developed version of a part of the first author’s mater’s thesis and used the Korean Innovation Survey (KIS) data provided by the Science and Technology Policy Institute (STEPI).

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∙ The author Sumin Kim is currently attending a Ph.D. program in the department of Management of Technology at Konkuk University. She obtained bachelor's and master's degrees in Management of Technology from the university, and the main research fields are technological innovation, knowledge management, ESG, and innovation strategy.

∙ The author Jaemin Park is graduated from Seoul National University and The Ohio State University. Since 2007, he has been working in the Department of Management of Technology at Konkuk University. He served as the head of the office of planning at the university, and is currently in charge of the start-up support group and the campus town center. The main research fields are innovation management, R&D performance analysis, and public technology management, and now providing lectures and contributions to corporate management executives.

∙ The author Kang Ho Bong is currently a senior researcher at Software Policy & Research Institute(SPRi). He holds a Ph.D. in management from Konkuk University, Republic of Korea. He also worked as a lecturer at Konkuk University and Kangnam University. His areas of interest include innovation strategy, industrial innovation, digital economy, and policy of science and technology.