Sustainable Finance and Corporate Performance: A Dynamic Panel Analysis of New York Stock Exchange Firms
サステナブルファイナンスと企業業績：ニューヨーク証券取引所上場企業の動的パネル分析 (AI 翻訳)
Alsideeq Saleem Mohammed Abu Ighrarah, Wagdi M. S. Khalifa
🤖 gxceed AI 要約
日本語
本研究は、2008年から2024年までのNYSE上場企業を対象に、サステナブルファイナンス（グリーンファイナンス、排出削減戦略、持続可能な製品、環境投資）が財務パフォーマンス（ROA、RNOA）に与える影響を動的パネルGMMで分析。グリーンファイナンス、排出削減、持続可能な製品は正の効果を示す一方、環境投資は短期的なコスト負担により負の相関を示した。戦略的計画と政策インセンティブの重要性を強調。
English
This study analyzes the impact of sustainable finance (green finance, emission reduction, sustainable products, environmental investment) on financial performance (ROA, RNOA) for NYSE-listed non-financial firms from 2008-2024 using dynamic panel GMM. Green finance, emission reduction, and sustainable products positively affect performance, while environmental investment shows a negative correlation due to immediate costs. Highlights the need for strategic planning and policy incentives.
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
米国市場の実証結果だが、日本のGX投資（グリーンボンド、排出削減）の財務効果を検証する際の比較対象として有用。特に環境投資の短期的コスト負担は、日本の企業がGX投資を躊躇する要因を裏付ける可能性がある。
In the global GX context
Provides U.S.-specific evidence on the financial returns of sustainable finance components, relevant for global investors and firms comparing ESG strategies. The negative impact of environmental investment underscores the need for transition finance mechanisms to bridge short-term costs.
👥 読者別の含意
🔬研究者:Offers a robust GMM methodology and component-level analysis of sustainable finance impacts, useful for replication in other markets.
🏢実務担当者:Highlights which sustainability initiatives (green finance, emission reduction) are most likely to improve financial performance, guiding corporate strategy.
🏛政策担当者:Suggests that policy incentives may be needed to offset short-term costs of environmental investments, supporting transition finance frameworks.
📄 Abstract（原文）
The incorporation of environmental, social, and governance (ESG) concerns into corporate finance has accelerated globally; nevertheless, empirical data about its effects in the U.S. context is still scarce. This research examines the impact of sustainable financing on the financial performance of non-financial enterprises listed on the New York Stock Exchange (NYSE) from 2008 to 2024. This study used the stakeholder theory and other theories to analyze four aspects of sustainable finance: green financing efforts, emission reduction strategies, sustainable product initiatives, and environmental investment initiatives. The study implemented a dynamic panel regression model with the two-step Generalized Method of Moments (GMM) to mitigate endogeneity and omit variable bias. The findings indicate that green finance, emission reduction strategies, and sustainable product efforts have a positive and significant impact on Return on Assets (ROA) and Return on Net Operating Assets (RNOA), demonstrating their effectiveness in enhancing financial performance. Conversely, environmental investment programs exhibited a strong and negative correlation with financial success, indicating immediate cost implications. These findings emphasize the significance of strategic planning in sustainability investments and reinforce the necessity for legislative incentives to assist enterprises throughout the transition. This study enhances the literature by providing U.S.-specific, component-level insights into the financial implications of sustainable financing, therefore offering pragmatic counsel for managers, investors, and regulators.
🔗 Provenance — このレコードを発見したソース
- openaire https://doi.org/10.3390/su17188229first seen 2026-05-05 19:07:08
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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。