Corporate Sustainability-Focused Studies

Chonnam National University Releases a New Study

Chonnam National University, in collaboration with a Mexican research partner, has published a study in the journal Corporate Social Responsibility and Environmental Management that examines the relationship between environmental responsibility and corporate financial performance. For this research venture, the company used ESG ratings and financial data from 579 publicly listed South Korean companies across 2,316 firm-year observations between 2019 and 2022.

Chonnam National University's research found that environmental responsibility does not directly boost financial metrics such as return on assets or equity, but rather works indirectly through increasing sales, with this mediated effect being particularly pronounced for large Chaebol conglomerates and significantly stronger in the period following the COVID-19 pandemic. These findings suggest that heightened consumer awareness and green consumerism have amplified the commercial value of sustainability efforts.

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