Do firms increase ESG activities during periods of geopolitical risk? Evidence from Korean business groups

IF 6.3 2区经济学 Q1 BUSINESS, FINANCE

Borsa Istanbul Review Pub Date : 2024-11-01 DOI:10.1016/j.bir.2024.11.002

Hongmin Chun , Boyoung Moon

引用次数: 0

Abstract

This study examines the impact of the geopolitical risk (GPR) on the environmental, social, and governance (ESG) activities of South Korean business groups. Our empirical results indicate that GPR is positively associated with the ESG activities of South Korean firms, and this relationship is more pronounced among business groups. Furthermore, our results imply that South Korean business groups prioritizing their reputation or operating in a competitive market increase their ESG activities when GPR increases. Specifically, South Korean firms strategically increase their ESG activities during periods of significant GPR to enhance their reputation and build moral capital.

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在地缘政治风险时期，企业是否会增加 ESG 活动？来自韩国企业集团的证据

本研究探讨了地缘政治风险（GPR）对韩国企业集团的环境、社会和治理（ESG）活动的影响。我们的实证结果表明，地缘政治风险与韩国企业的环境、社会和治理活动呈正相关，而且这种关系在企业集团中更为明显。此外，我们的结果表明，当 GPR 增加时，优先考虑自身声誉或在竞争激烈的市场中运营的韩国企业集团会增加其环境、社会和治理活动。具体来说，韩国企业在 GPR 显著增长期间会战略性地增加其环境、社会和治理活动，以提高其声誉并建立道德资本。

本文章由计算机程序翻译，如有差异，请以英文原文为准。

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来源期刊

Borsa Istanbul Review Multiple-

CiteScore

7.60

自引率

3.80%

发文量

130

审稿时长

26 days

期刊介绍： Peer Review under the responsibility of Borsa İstanbul Anonim Sirketi. Borsa İstanbul Review provides a scholarly platform for empirical financial studies including but not limited to financial markets and institutions, financial economics, investor behavior, financial centers and market structures, corporate finance, recent economic and financial trends. Micro and macro data applications and comparative studies are welcome. Country coverage includes advanced, emerging and developing economies. In particular, we would like to publish empirical papers with significant policy implications and encourage submissions in the following areas: Research Topics: • Investments and Portfolio Management • Behavioral Finance • Financial Markets and Institutions • Market Microstructure • Islamic Finance • Financial Risk Management • Valuation • Capital Markets Governance • Financial Regulations