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논문검색

ESG Integration in Financial Decision-Making : The New Management Fashion in the Financial Industry

초록

영어

We investigate ESG integration from the theoretical lens of management fashion. The financial benefits and the rise of uncertainty increase the managers’ (i.e. the fashion users) demand for an effective nonmarket strategy while financial service providers (i.e. the fashion setters) in response produce rhetorics emphasizing the benefits of ESG integration, making it a new management fashion in the financial industry. Nevertheless, the interviews reveal that this management fashion may lose its efficacy shortly from such critical problems as the lack of credibility, time, incentive and ownership. Through qualitative research, we show how technology-based ESG using artificial intelligence can be an efficient and practical solution that tackles all four problems simultaneously, thereby contributing to the long-term sustainable financial markets and survival of the companies.

목차

ABSTRACT
Gap in the literature and our research question
Sources of the risk management benefits of ESG4
What is ESG integration?
The Management Fashion Theory (Abrahamson, 1991, 1996)
Data and Method
Our Propositions
CEO/Founder, Who’s Good
Overall findings
Future research

저자정보

  • Ga-Young (Kathy) Jang CFA, Ph.D. candidate
  • Hyoung-Goo Kang Associate professor at Hanyang University Business School

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