How Does Compliance Management Improve Corporate ESG Performance? Empirical Evidence from Annual Report Textual Information
コンプライアンス管理はどのように企業のESGパフォーマンスを向上させるか？年次報告書テキスト情報からの実証的証拠 (AI 翻訳)
Zhan Shi, Shengmin Liu
🤖 gxceed AI 要約
日本語
本研究は中国A株上場企業を対象に、テキストマイニングを用いてコンプライアンス管理指標を構築し、ESGパフォーマンスへの影響を検証した。コンプライアンス管理はグリーンイノベーション、倫理文化、エージェンシーコスト削減を通じてESGを向上させる。国有企業や経営者の権限が強い企業で効果が顕著であり、ESG評価のばらつきも減少させる。
English
This paper constructs a corporate compliance management indicator using text mining on Chinese A-share listed firms' annual reports and examines its impact on ESG performance. Compliance management improves ESG through green innovation, ethical culture, and reduced agency costs. The effect is stronger in state-owned enterprises and firms with high managerial power, and also reduces ESG rating divergence.
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
中国の「双炭素」戦略下でのESG重視傾向を反映し、コンプライアンス管理がESGパフォーマンス向上に寄与するメカニズムを解明。日本企業にとっても、内部管理体制の強化がESG評価向上につながる可能性を示唆する点で参考になる。
In the global GX context
This study provides empirical evidence on how compliance management drives ESG performance, using a novel textual analysis approach. It contributes to the global literature on ESG determinants and offers insights for firms and regulators interested in the role of internal governance in sustainability outcomes.
👥 読者別の含意
🔬研究者:The textual analysis method for constructing a compliance management indicator and the mediation analysis offer a replicable framework for future ESG research.
🏢実務担当者:Corporate sustainability teams can learn that strengthening internal compliance and ethical culture can directly enhance ESG scores.
📄 Abstract（原文）
Against the backdrop of the comprehensive advancement of the law-based governance of China and the “dual carbon” strategic goals, existing research still lacks a systematic discussion on how corporate compliance management affects ESG performance, and few studies have constructed targeted compliance management indicators from a textual perspective. To fill this research gap, this paper aims to explore the influence of corporate compliance management on ESG performance. Using Chinese A-share listed firms on the Shanghai and Shenzhen Stock Exchanges from 2010 to 2023 as research samples, this study adopts text mining techniques, combined with a panel regression model and a mediating effect model, to construct an indicator of corporate compliance management and examine its impact on ESG performance. The empirical results show that compliance management significantly improves corporate ESG performance and functions mainly through three channels: promoting corporate green innovation, fostering corporate ethical culture, and reducing agency costs. Heterogeneity tests indicate that the positive relationship is more pronounced in state-owned enterprises and in firms with higher managerial power. Further analysis reveals that compliance management also helps reduce the divergence in ESG ratings among Chinese firms, and the construction of all dimensions of compliance management can contribute to the improvement of corporate ESG performance. These findings enrich the literature on the economic consequences of compliance management and the determinants of ESG performance and provide theoretical guidance for Chinese firms to enhance ESG performance via compliance management.
🔗 Provenance — このレコードを発見したソース
- openalex https://doi.org/10.3390/su18083911first seen 2026-05-15 18:06:30
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