해양수산 기업의 ESG 기업성과 분석

Abstract

Recent calls for corporate sustainability and social responsibility have highlighted the significance of non-financial information, as well as financial information. Non-financial information is referred to as ESG, which stands for environment, society, and governance. There is a growing debate regarding whether companies should be mandated to disclose ESG information. Incorporating ESG management as part of the new capitalist order has prompted the establishment of institutional foundations that promote companies to adopt ESG management practices, thereby enhancing financial performance and fostering social welfare. In the past, companies were evaluated based on financial quantitative indicators. However, due to the increasing impact of companies on society, non-financial indicators such as environment (climate change, carbon border tax, etc.), society (working environment, occupational safety and health, unfair practices, etc.), and governance (management transparency, morality, etc.) have become important measures for evaluating companies. From a theoretical perspective, expanding ESG disclosure primarily aims to enhance the corporate value. The dissemination of ESG data positively influences investors, certainty by providing adequate and timely information, ultimately leading to an increase in corporate value. (Oh Deokgyo, 2021). ESG management activities have a short-term negative impact on corporate value due to increased costs. However, these actions have a long-term positive impact on corporate value because of consumers' preferences for companies that achieve ESG management goals and improve the company's ability to respond to environmental regulations (Min et al. 2015;, Park et al., 2022) Despite being non-financial, ESG evaluation information is critical for empirical analysis as it is causally related and can provide useful accounting information. While most industries benefit from positive relationships between ESG factors and corporate performance, marine fisheries indicate insignificant industry-specific effects with positive impact on corporate value. There is a lack of policy guidance obtained through ESG assessment for marine and fisheries listed enterprises, and comprehensive analyses that are based on the specialized classification system for marine and fisheries are insufficient. Therefore, analyzing the current ESG assessments and financial performance of the listed companies in the marine and fisheries sector through empirical research indicates the significance of creating data based on evidence and deriving ESG policy directions for this industry.