The impact of ESG investing on corporate profitability: Evidence from publicly-owned enterprises in emerging markets
ESG投資が企業収益性に与える影響：新興市場の公営企業からの証拠 (AI 翻訳)
Minh Vinh Vo, Thuy Vi Le, Cao Ky Anh Dang, Thanh Vinh Nguyen
🤖 gxceed AI 要約
日本語
本研究は、新興市場の公営企業の収益性に対するグリーンファイナンスとSRIの影響を調査。385の調査データを回帰分析した結果、グリーンファイナンスが最も強い影響を与え、規制の強さが関係を調整することを発見。規制の弱い経済におけるESG投資の有効性に示唆を与える。
English
This paper investigates the impact of ESG-linked investment instruments (green financing and SRI) on profitability of publicly-owned enterprises in emerging markets. Using survey data from 385 respondents, regression analysis shows green financing has the strongest positive effect, and regulatory framework strength moderates these relationships. The study provides insights into ESG investment effectiveness in under-regulated economies.
Unofficial AI-generated summary based on the public title and abstract. Not an official translation.
📝 gxceed 編集解説 — Why this matters
日本のGX文脈において
新興市場に焦点を当てており、日本のGX政策との直接的な関連は薄いが、日本企業の新興国投資におけるESG戦略の参考になる可能性がある。
In the global GX context
This study adds empirical evidence from emerging markets to the global debate on ESG and profitability, highlighting the critical moderating role of regulatory strength. It contributes to understanding ESG investment outcomes in less developed institutional environments, relevant for global investors and multinational corporations.
👥 読者別の含意
🔬研究者:Provides empirical evidence on ESG investment effectiveness in emerging markets, highlighting the moderating role of regulatory strength.
🏢実務担当者:Corporate sustainability teams can use the findings to understand how green financing and SRI impact profitability, especially in emerging market operations.
🏛政策担当者:Regulators in emerging markets can note the importance of strong regulatory frameworks to enhance the profitability impact of ESG investments.
📄 Abstract（原文）
This study investigates the influence of ESGlinked investment instruments, specifically Green Financing and Socially Responsible Investing (SRI) on commercial profitability of publiclyowned enterprises (POEs) in emerging markets. The authors examine the moderating part of Regulatory Framework Strength in these connections predicated in Legitimacy Theory and Institutional Theory, the exploration seeks to determine whether sustainable finance strategies can meaningfully enhance financial performance under varying institutional conditions. Employing a quantitative exploration design, the authors distributed an online check via Google Forms using a 5point Likert scale, performing in 385 valid responses from five stakeholder groups directly involved in ESGrelated financial opinions across emerging markets. The retrogression analysis reveals that Green Financing exerts the strongest influence on commercial profitability (ß = 0.68), followed by SRI essentials (ß = 0.62). Furthermore, Regulatory Framework Strength moderates the connections between Green Financing and profitability (ß = 0.54), and between SRI and profitability (ß = 0.65). The authors affirm that their findings give new perceptivity into the effectiveness of ESG investment strategies in emerging markets, an area frequently overlooked in mainstream ESG converse. By integrating empirical substantiation with theoretical perspectives, this study underscores the critical moderating part of regulatory strength and contributes to bridging the gap between sustainability practices and profitability issues of POEs in under regulated economies.
🔗 Provenance — このレコードを発見したソース
- semanticscholar https://doi.org/10.3280/ep2025-003002first seen 2026-05-15 20:59:50
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