Advertising Expenditure Volatility and Firm Value: The Moderating Role of ESG Performance

Sangkwon Cha¹ · Young Woo Lee² · Yinnan Li³

¹ Assistant Professor in the Department of Taxation, College of Global Business and Economics, Namseoul University, ² Assistant Professor of Global Management at Calvin University, ³ Associate Professor of College of Business at KwangWoon University

DOI: https://doi.org/10.17287/kmr.2026.55.4.1621