Due to the COVID-19 pandemic triggered in 2020, the importance of ESG management, which includes environment, social, and governance continues to increase. This ESG refers to non-financial activities that can create sustainable growth by reducing the disadvantages that the corporate eco-system can have on the environment, social and increasing the efficiency of governance.
However, it is true that related prior studies are mainly conducted with a focus on financial profits from an investor''s point of view and studies related to consumer perception are receiving little attention. In this study, the psychological mechanisms of consumer attitudes such as the perceived value, psychological distance, purchase intention related to ESG activities was analyzed.
Specifically the purpose of this study is to investigate the differences in (1) The effect of ESG activities perception on perceived value (2) The effect of psychological distance through the perceived value (3) The effect of purchase intention through psychological distance (4) To the investigate the difference in the effect of purchase intention through the perceived value and psychological distance derived by the level of product involvement and exposure to ESG activities.
This study model analyzed 507 copies of survey data such as 127 copies in the high-involvement product/ESG activity non-exposed group, 126 copies in the high-involvement product/ESG activity exposure group, 128 copies in the low-involvement product/ESG activity non-exposure group and 126 copies in the low-involvement product/ESG activity exposure group. and this study was verified using Smart PLS 3.0 and SPSS 25.0 for reliability, validity, path analysis and difference analysis among the groups through the one-way ANOVA.
The results revealed that (1) The most ESG activities had a positive effect on the perceived value. However, environment a positive effect on the ethical values but did not a positive effect on the social, economic values among perceived value. (2) It was confirmed that all perceived value had a positive effect on the psychological distance. In particular, ethical values had a positive effect in all groups. (3) Psychological distance formed through ESG activities and perceived value had a positive effect on consumer purchase intention. And it was found that all groups had a positive effect. (4) it was confirmed that the average difference among the four groups classified according to the level of product involvement and exposure to ESG activities was significantly different in most variables. However, psychological distance don''t have a significant average difference among the groups.
ESG is important from a consumer perspective through this study. And it was also confirmed that consumer perspective was different according to the level of product involvement. Although previous research has mainly focused on the investor perspective, this study was analysed on ESG activities and consumer behavioral intentions. Therefore, it is expected to lay the foundation from a marketing perspective on ESG for subsequent researchers.