Investor Sentiment and Trust in Sustainability Reports in Egypt: The Moderating Role of Financial Literacy
エジプトにおける投資家センチメントとサステナビリティ報告への信頼：金融リテラシーの調整的役割 (AI 翻訳)
Hoda Essam Hassan Khaled, Ghada Ahmed Nabil Ibrahim
🤖 gxceed AI 要約
日本語
エジプトの個人投資家を対象に、投資家センチメントがサステナビリティ報告への信頼に与える影響と、金融リテラシーの調整効果を分析。結果、センチメントは信頼に有意な正の影響を与え、金融リテラシーがその関係を強化することを確認。行動ファイナンスと開示理論の枠組みから、新興市場における非財務情報への信頼形成に心理的要因と金融能力が重要であると示唆。
English
This study examines how investor sentiment affects trust in sustainability reports among Egyptian individual investors, and whether financial literacy moderates this relationship. Using survey data from 328 investors, it finds that sentiment positively influences trust, with market optimism and emotional influence being key. Financial literacy strengthens the sentiment-trust link, suggesting that financially literate investors translate sentiment into more rational trust judgments. The findings highlight the role of investor psychology and financial competence in shaping trust in non-financial disclosures in emerging markets.
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
この研究はエジプトを対象としており、日本市場に直接の示唆は限られるが、SSBJが求めるサステナビリティ報告の信頼性向上において、投資家の金融リテラシー向上が重要である点は共通する。日本でも有報におけるサステナビリティ情報の開示が進む中、投資家のセンチメントとリテラシーがどのように信頼形成に影響するかは検討に値する。
In the global GX context
While focused on Egypt, this paper contributes to the global literature on sustainability disclosure by demonstrating that trust in reports is not solely a function of disclosure quality but also of investor psychology and financial literacy. For global regulators and firms pushing for enhanced ESG reporting, these findings underscore the need to consider investor competence and sentiment as complementary factors to disclosure standards.
👥 読者別の含意
🔬研究者:Offers insights on behavioral factors in sustainability report trust, relevant for scholars studying disclosure effectiveness in emerging markets.
🏢実務担当者:Highlights that improving financial literacy among investors can enhance trust in sustainability disclosures, suggesting training programs.
🏛政策担当者:Suggests that policymakers in emerging markets should consider investor education alongside disclosure mandates to build trust.
📄 Abstract（原文）
This study investigates the relationship between investor sentiment (IS) and trust in sustainability reports (TSRs) in Egypt, which is an emerging market that has recently strengthened its sustainability disclosure practices. Drawing on behavioral finance and disclosure theory, this study also examines the moderating role of financial literacy (FL) in shaping this relationship. A quantitative, questionnaire-based survey was presented to 328 individual investors who are familiar with sustainability and ESG reporting. The data were analyzed using descriptive statistics, reliability tests, and both simple and hierarchical regression analysis. The results indicate that IS has a strong and significant positive effect on trust in sustainability reports, with market optimism and emotional influence emerging as the most influential dimensions. Furthermore, the hierarchical regression results reveal that FL significantly strengthens the relationship between IS and TSR, indicating that, within the present sample, more financially literate investors translate sentiment into more informed and rational trust judgments. These findings contribute to the accounting and sustainability reporting in the literature by demonstrating that trust in non-financial disclosures is not only shaped by reporting practices but is also heavily influenced by investor psychology and financial competence. This study highlights the importance of enhancing both disclosure quality and investor financial literacy to strengthen confidence in sustainability reporting in emerging markets.
🔗 Provenance — このレコードを発見したソース
- openaire https://doi.org/10.3390/su172410903first seen 2026-05-14 22:14:26
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