Firm Financial Performance: Disentangling the Corporate Gender Diversity as Driver of <scp>ESG</scp> Disclosure in <scp>EU</scp> Companies
企業の財務実績：EU企業におけるESG開示の推進要因としての企業のジェンダー多様性の解明 (AI 翻訳)
Paolo Saona, Laura Muro
🤖 gxceed AI 要約
日本語
本研究はEU企業の上級職におけるジェンダー多様性とESGイニシアチブが財務実績に与える影響を分析。市場ベースの指標ではESGが正の影響を与え、特に女性幹部比率が高い企業で効果が大きい。簿価ベースでは逆の結果となり、ESGの財務効果は指標により異なる時間軸で現れることを示唆。
English
This study examines the relationship between gender diversity in senior positions and ESG initiatives on financial performance among EU firms. It finds a positive impact on market-based measures, especially in firms with above-average female executives, board members, or middle managers. Conversely, book-based measures show opposite results, suggesting ESG benefits emerge over different timeframes depending on the metric.
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
日本でもSSBJ対応や有報でのESG開示強化が進む中、ジェンダー多様性とESG開示の関係は重要な政策課題。ただし本稿はEUデータに基づくため、日本企業への直接適用には注意が必要。だが、ESGと財務パフォーマンスの関係性を解く示唆は日本市場でも参考になる。
In the global GX context
This paper contributes to the global debate on ESG materiality by showing that gender diversity moderates the ESG-financial performance link. It supports the business case for diversity and highlights the need for disclosure frameworks to account for governance factors.
👥 読者別の含意
🔬研究者:ESG effects on market performance are stronger in firms with gender-diverse leadership, but accounting-based measures do not show the same pattern.
🏢実務担当者:Promoting gender diversity may enhance the market valuation benefits of ESG initiatives, but short-term accounting returns may not reflect this.
🏛政策担当者:Policies promoting gender diversity could amplify positive ESG outcomes; disclosure standards should consider governance diversity.
📄 Abstract（原文）
ABSTRACT This study investigates the relationship between gender diversity in senior corporate positions and environmental, social and governance (ESG) initiatives, alongside their impact on corporate financial performance across European Union companies. The findings support a positive and statistically significant impact of ESG initiatives on the market‐based measures of firms' financial performance, but such impact is economically higher in the case of companies in which the proportion of female executives, female board members or female middle‐managers is above the average per country. When book‐based metrics of firm performance are considered, the findings are the opposite. This disparity highlights the importance of adopting a more holistic framework for assessing ESG's financial impact, recognizing that its benefits may emerge over varying timeframes depending on the performance metric used. The results call for innovative policies to promote gender diversity and sustainable practices, aligning with UN Sustainable Development Goals.
🔗 Provenance — このレコードを発見したソース
- openalex https://doi.org/10.1111/acfi.70258first seen 2026-07-18 06:06:59
🔔 こうした論文の新着を逃したくない方は キーワードアラート に登録（無料・3キーワードまで）。
gxceed は公開メタデータに基づく研究支援データセットです。要約・翻訳・解説は AI 支援で生成されています。 最終的な解釈・検証は利用者が原典資料に基づいて行うことを前提とします。