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기업의 혁신활동에 대한 제도적 ESG 압력의 상호작용효과에 관한 연구: 규제적･규범적 ESG 압력의 상호작용효과를 중심으로

A Study on the Interaction Effect of Institutional ESG Pressures on Innovation Activities of Companies : Focusing on the interaction effects of regulative·normative ESG pressure

박재민|김수민
한국혁신학회|2023.11|한국혁신학회지 (Innovation studies)|제18권 제4호|pp. 191-219

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혁신활동Innovation activities상호작용효과Institutional theory제도이론Interaction effects전략적 ESGESG 압력Strategic ESGESG pressure

초록

기후변화, 코로나 펜데믹, 금융위기 등의 전세계적 위기와 더불어 지속가능한 발전에 대한 관심이 커짐에 따라 오늘날 ESG 경영은 큰 화두가 되고 있다. 이러한 대중적 관심에도 불구하고 실질적으로 ESG 활동에 진전을 보이는 기업이 거의 없으며, ESG 워싱이 큰 문제로 대두되는 등 ESG 경영에 대해서는 그간 지속적인 논란이 존재해왔다. 이러한 논란의 근본적인 원인으로 ESG 활동에 ‘혁신’이 고려되지 않아 재무적 성과로 이어지지 못하여 기업이 실질적･지속적으로 ESG 경영을 실천하지 않는다는 점이 지적되어 왔다. 한편 ESG는 사회적 압력으로 볼 수 있다는 점에서 다수의 연구에서 제도이론(institutional theory) 관점에서 접근되고 있으나, 제도적 압력들의 상호작용효과를 확인한 논문은 전무한 실정이다. 기업 환경에서 여러 차원의 제도적 압력은 동시에 존재하며, 서로 상호작용효과를 유발한다는 관점에 따라 본 연구는 김수민 외(2023)의 후속 연구로서, 규제적 및 규범적 ESG 압력의 비선형 효과에 각각 어떠한 상호작용효과가 있는지 실증분석을 통해 파악하고자 하였다. 분석 결과, 규제적 ESG 압력은 규범적 ESG 압력과 기업의 혁신 강도 사이의 관계에 긍정적인 상호작용효과가 존재하나 규범적 ESG 압력은 선택방정식에서만 긍정적인 상호작용 효과가 존재하는 것으로 나타났다. 이러한 분석 결과는 규제적 압력이 매우 낮은 산업을 제외하고는 대체로 규제적 ESG 압력과 규범적 ESG 압력이 동시에 작용할 때 기업의 혁신활동을 더욱 촉진한다는 점에서 ESG 경영 확대를 위해 적절한 규제 수립과 같은 정책적 노력이 우선적으로 기반이 된 이후 기업 ESG 활동에 대한 고객, 일반 대중들의 관심이 필요함을 시사한다.

Abstract

ESG management is becoming a big issue today as interest in sustainable development grows along with global crises such as climate change, COVID-19 pandemic, and financial crisis. Despite this public interest, few companies have actually made progress in ESG activities, and there has been continuous controversy over ESG management. It has been pointed out that the fundamental cause of this controversy is that 'innovation' is not considered in ESG activities, which does not lead to financial performance, so companies do not practically and continuously practice ESG management. On the other hand, ESG has been approached from the perspective of institutional theory in many studies in that it can be seen as a social pressure, but there are no papers that have confirmed the interaction effect of institutional pressures. Based on the view that multiple types of institutional pressures exist at the same time and cause interaction effects each other, this study as a follow-up study of Kim et al.(2023) attempt to understand what interaction effects each have on the nonlinear effects of regulative and normative ESG pressures. As a result of the analysis, regulative pressure has a positive significant interaction effect on the relationship between normative pressure and corporate innovation activities, but normative ESG pressure has a positive interaction effect only in the selection equation. These analysis results suggest that policy efforts such as proper regulation should be based first and then the general public's attention to ESG activities is needed in order to expand ESG management.

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