The Relationship between ESG Performance and Innovation Activity of Russian Companies: An Empirical Analysis

This scientific article investigates the relationship between Environmental, Social, and Governance (ESG) performance and the innovative activity of Russian enterprises, based on an analysis of data from RAEX and the Federal Service for Intellectual Property (Rospatent) spanning the period 2020–2024. Using a Bayesian HURDLE model, the study assesses the impact of ESG ratings, company size, and industry affiliation on the number of patents registered. The results demonstrate that companies with higher ESG ratings exhibit increased innovation activity and implement novel technological solutions, thereby fostering their strategic development. The article thoroughly explores the ESG evaluation methodology, data modeling techniques, and provides strategic recommendations to enhance competitiveness among large companies within the Russian economy. Conclusions emphasize the importance of integrating ESG practices into strategic management decisions to enhance the competitiveness of Russian businesses.