| dc.description.abstract | Numerous studies have shown that brand′s focus on environmental sustainability can lead to customer satisfaction, purchasing intentions, positive brand image, and ultimately, higher revenue in a virtuous cycle. Therefore, ESG (Environmental, Social, and Governance) plays an increasingly important role in corporate strategy, and it is expected that it will become a basic requirement for a company′s operation in the future. Brands that do not embrace ESG concepts will gradually decline. While previous research has found a positive correlation between ESG ratings and brand value, further research on the relationship between the environmental, social, and governance dimensions and brand value has yielded different conclusions. Foreign studies have found an insignificant correlation between brand value and corporate governance, while domestic research has reported a high correlation. This may be because most young domestic brands need a certain level of brand equity before they can actively promote ESG activities. However, there is little research on whether brand age is an moderating factor between brand value and ESG. Therefore, this study aims to explore the relationship among ESG ratings, brand age and brand value.
The study uses Brand Finance′s brand value data from 2016 to 2021, ESG ratings from the Refinitiv database, and self-collected information on brand establishment time as samples. The analysis shows that ESG scores, environmental scores, and corporate governance scores are positively correlated with brand value. Therefore, it is recommended that companies actively develop key factors related to environmental and corporate governance, which will have a positive impact on the financial and brand aspects of the company. Furthermore, brand age has a negative moderating effect on the relationship between social scores and brand value, indicating that young brands can enhance their brand image by investing in social issues. Brands should continue to operate sustainably in the social dimension to convey positive brand concepts and maintain brand value stably. Brand age has a positive moderating effect on the relationship between corporate governance scores and brand value, confirming that sustainability is a crucial brand management concepts for century-old brands. Brands that operate in the long term should consider the sustainable development of society and the management policies of corporate governance, which will help them maintain sustainable operations on the road of business. | en_US |