Cognitive governance and ESG transparency: board educational diversity, director ownership, and ESG disclosure in China
認知ガバナンスとESG透明性：取締役会の教育多様性、取締役の所有権、および中国におけるESG開示 (AI 翻訳)
Shanshan Yue, Xue Lei, Husni Samara, Redwan Al-Dhamari, Norkhairul Hafiz Bajuri
🤖 gxceed AI 要約
日本語
中国A株上場企業を対象に、取締役会の教育多様性がESG開示に与える影響を分析。教育多様性はESG開示全体および各次元（環境・社会・ガバナンス）と正の関係があるが、取締役の所有権がこの関係を弱める。取締役が経営幹部を兼務する場合や教育インフラが整った地域で効果が強い。
English
This study examines how board educational diversity influences ESG disclosure among Chinese A-share listed firms from 2014 to 2023. Using Bloomberg ESG scores, it finds that educationally diverse boards are positively associated with overall ESG disclosure and each dimension. However, director ownership weakens this relationship. The effect is stronger when directors also serve as executives and in regions with stronger educational infrastructure.
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SSBJ基準が策定され、取締役会のガバナンスとESG情報開示の質が注目されている。本研究は中国市場のデータから、取締役の教育多様性と所有権の相互作用が開示透明性に与える影響を示しており、日本の企業統治改革や取締役構成の最適化に示唆を与える。
In the global GX context
This paper provides empirical evidence on how board educational diversity affects ESG disclosure quality from a Chinese context, relevant to global disclosure scholarship under ISSB standards. It highlights the moderating role of director ownership, offering insights for corporate governance reforms aimed at enhancing transparency.
👥 読者別の含意
🔬研究者:This paper contributes to the governance-disclosure literature by showing that board educational diversity can enhance ESG transparency, contingent on ownership incentives and managerial authority.
🏢実務担当者:Corporate boards can improve ESG disclosure by appointing directors with diverse educational backgrounds, but should be aware that director ownership may reduce the translation of cognitive capacity into transparency.
🏛政策担当者:Regulators may consider promoting board diversity policies that go beyond demographic diversity to include educational backgrounds.
📄 Abstract（原文）
Abstract This study examines how board educational diversity shapes corporate ESG disclosure among Chinese A-share listed firms from 2014 to 2023. Drawing on upper echelons theory and agency theory, we conceptualize board educational diversity as a cognitive governance resource that enhances directors’ capacity to process complex sustainability-related information and support transparent disclosure. Using Bloomberg ESG disclosure scores, decomposed into environmental, social, and governance dimensions, and measuring educational diversity through the Blau index based on directors’ educational institutions and academic disciplines, we find that educationally diverse boards are positively associated with overall ESG disclosure and with each ESG dimension. However, director ownership weakens this positive relationship, suggesting that ownership-based incentives may constrain the translation of board cognitive capacity into disclosure transparency. Additional analyses show that the effect of educational diversity is stronger when directors also serve as executives and is more pronounced in regions with stronger educational infrastructure. The results remain robust when applying a Bartik shift-share instrumental variable approach to address potential endogeneity concerns. This study contributes to the disclosure and governance literature by showing that board educational diversity does not automatically enhance ESG transparency; rather, its effectiveness depends on the interaction between cognitive capacity, ownership incentives, managerial authority, and regional context.
🔗 Provenance — このレコードを発見したソース
- openalex https://doi.org/10.1057/s41310-026-00409-4first seen 2026-07-18 05:57:15
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