Environmental Responsibility and Financial Performance: The Mediating Role of Sales in Korean Firms
環境責任と財務業績：韓国企業における販売の媒介役割 (AI 翻訳)
Arturo Garcia, Sang‐Ho Lee
🤖 gxceed AI 要約
日本語
本研究は、韓国企業の環境責任（ER）と財務業績（FP）の関係における販売の媒介効果を検証した。2019-2022年のESG評価と財務データを用いた分析では、ERは直接FPを向上させず、販売増加を通じて間接的に向上させることが示された。この効果は財閥企業で有意であり、非財閥企業では見られなかった。また、COVID-19後により強くなった。
English
This study examines the mediating role of sales in the relationship between environmental responsibility (ER) and financial performance (FP) using Korean ESG ratings (2019-2022). ER does not directly improve FP but indirectly through increased sales, especially for Chaebol firms. The effect strengthens post-COVID-19, highlighting sales as a key transmission channel.
Unofficial AI-generated summary based on the public title and abstract. Not an official translation.
📝 gxceed 編集解説 — Why this matters
日本のGX文脈において
韓国企業の研究だが、日本企業にも示唆がある。ESGと財務業績の関係において販売チャネルの重要性を示しており、SSBJ開示や有報での非財務情報活用に役立つ。特に、可視性の高い財閥企業と非財閥の違いは、日本における大企業と中小企業の比較にも応用可能。
In the global GX context
This paper provides empirical evidence on the sales channel through which environmental responsibility affects financial performance, relevant for global ESG disclosure frameworks (ISSB, TCFD). The Chaebol vs non-Chaebol distinction offers insights into firm characteristics and market visibility, applicable to other contexts.
👥 読者別の含意
🔬研究者:Use this to understand the indirect mechanisms (sales mediating) between ESG and financial performance, especially for visible firms.
🏢実務担当者:Sales teams can leverage environmental responsibility as a marketing tool to improve financial performance.
🏛政策担当者:The post-COVID strengthening suggests consumer sensitivity; policies supporting green consumerism may boost corporate ESG efforts.
📄 Abstract（原文）
This study investigates the mediating role of sales in the relationship between environmental responsibility (ER) and financial performance (FP) through the lens of green consumerism. Using Korean ESG ratings between 2019 and 2022 and financial data from the Kis‐Value Database, we show that ER does not directly enhance FP but indirectly improves it through increased sales. This mediation effect is significant for Chaebol firms, reflecting their greater visibility and ability to convert environmental initiatives into market outcomes, while it is absent for non‐Chaebol firms. Moreover, the indirect effect becomes stronger in the post–COVID‐19 period, consistent with heightened consumer and stakeholder sensitivity to sustainability. Our findings highlight sales as a key transmission channel through which ER influences FP and underscore the role of firm characteristics and institutional context in shaping the economic returns to ER.
🔗 Provenance — このレコードを発見したソース
- semanticscholar https://doi.org/10.1002/csr.70672first seen 2026-07-18 08:19:42
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