The role of corporate environmental sustainability and top management characteristics under corporate law in firm performance: Evidence from Saudi Arabia listed companies
サウジアラビア上場企業における企業環境持続可能性とトップマネジメント特性が企業法のもとで企業業績に与える役割 (AI 翻訳)
E. Al-Matari, Nasareldeen Hamed Ahmed Alnor, Mona Elshaabany, Randa Abd Elhamied Mohammed Hamza, Hisham Mohamed Misbah, Sajed Mowafaq Alshdaifat, M. Eisa
🤖 gxceed AI 要約
日本語
本研究はサウジアラビア株式市場上場企業を対象に、企業の環境持続可能性（CSR）とトップマネジメントの特性が企業業績に与える影響を検証した。2015年から2021年のパネルデータを用いた分析の結果、経営陣の構成と専門性が業績に重要な役割を果たし、特に女性比率の低下は業績悪化と関連し、会計・財務専門性は正の影響を与えることが示された。また、CSR活動は企業業績を向上させることが確認された。
English
This study examines how corporate environmental sustainability (CSR) and top management team characteristics impact firm performance in Saudi listed companies, using panel data from 2015-2021. Results show that management composition and expertise are critical, with low female representation linked to poor performance and accounting/finance expertise positively affecting performance. CSR practices also improve firm performance.
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
日本ではコーポレートガバナンス改革やサステナビリティ開示が進む中、経営陣の多様性や専門性が企業価値に与える影響を示す点で示唆がある。ただし、サウジアラビア固有の法規制下での分析であり、日本への直接適用には注意が必要。
In the global GX context
This paper contributes to global ESG and corporate governance literature by providing evidence from an emerging market with mandatory sustainability regulations. It underscores the importance of board diversity and expertise for firm performance, relevant to international discussions on ESG integration and regulatory design.
👥 読者別の含意
🔬研究者:Offers empirical evidence from an understudied market on the interplay between CSR, top management characteristics, and firm performance using robust panel data methods.
🏢実務担当者:Highlights that CSR and top management diversity (especially female representation and financial expertise) can positively impact firm performance, informing corporate sustainability strategies.
🏛政策担当者:Suggests that legal mandates on sustainability and governance may enhance firm performance, but context-specific factors (e.g., Saudi corporate law) limit direct generalization.
📄 Abstract（原文）
This study investigates how corporate environmental sustainability (CSR) and top management (TM) characteristics respond to Saudi corporate law to determine their impact on the performance of firms listed on the Saudi Stock Exchange. It relies on the perspectives of corporate governance and legal compliance to explore whether TM qualities, including team size, female representation, accounting and financial expertise, and sustainability practices, influence corporate performance in a regulated environment. The analysis proceeds on the premise of panel data of 131 listed companies between 2015 and 2021, which provides 917 firm-years of data retrieved through the Bloomberg database. Baseline relationships were estimated using ordinary least squares (OLS) regression, and two-stage least squares (2SLS) were used to handle possible endogeneity. Heteroscedasticity and serial correlation were corrected using the feasible generalized least squares (FGLS) regression. The results indicate that the composition and expertise of TM play a vital role in the firm’s performance. Reduced female representation is linked to poor performance, and accounting and finance expertise has a positive and significant impact. The governance and legal appropriateness of sustainability-based leadership are also evident in the fact that CSR practices improve firm performance.
🔗 Provenance — このレコードを発見したソース
- semanticscholar https://doi.org/10.22495/clgrv8i2p12first seen 2026-05-15 21:43:00 · last seen 2026-06-15 05:34:54
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