Driving Sustainability: Environmental, Social, and Governance Practices and Financial Implications in India’s Automotive Industry
持続可能性の推進：インド自動車産業における環境・社会・ガバナンス（ESG）慣行と財務的影響 (AI 翻訳)
Pincky AKTER, Jaba CHAKRABORTY, Razia NAGINA, Ishrat Jahan PRITHA
🤖 gxceed AI 要約
日本語
本論文は、インド自動車産業におけるESG報告が財務業績に与える影響を検証。2015～2023年のBSE上場全自動車企業のパネルデータを用い、固定効果回帰と遅延変数を操作変数として内生性に対処。ESGスコアはROA、ROE、EPSに即時的な影響を与えないが、長期的な価値創造とブランドロイヤルティに寄与することを示唆。SDGs 8, 9, 12との整合性も強調。
English
This study examines the impact of ESG reporting on financial performance in the Indian automobile sector. Using panel data from all BSE-listed auto firms (2015-2023), it addresses endogeneity with fixed effects and lagged instruments. Findings show ESG does not yield immediate gains in ROA, ROE, or EPS but contributes to long-term value and stakeholder confidence, aligning with SDGs 8, 9, and 12.
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
日本の自動車産業でもESG開示が進む中、本論文は新興国市場におけるESGと財務の関連性を実証。日本企業のインド進出やサプライチェーン管理においても参考となる知見を提供する。
In the global GX context
This paper adds to the growing literature on ESG-financial performance links in emerging markets. While not focused on climate disclosure standards, it provides empirical evidence from a major developing economy's automotive sector, relevant for global investors and multinational corporations assessing ESG risks and opportunities in India.
👥 読者別の含意
🔬研究者:Provides a robust empirical methodology (fixed effects with lagged instruments) for studying ESG-financial performance, applicable to other emerging markets.
🏢実務担当者:Suggests that Indian auto firms may not see short-term financial gains from ESG but should focus on long-term intangible benefits like brand loyalty.
🏛政策担当者:Supports policies encouraging ESG integration as a driver of sustainable development and long-term financial stability, aligned with SDGs.
📄 Abstract（原文）
This study examines the influence of Environmental, Social, and Governance (ESG) reporting on the financial performance of firms in the Indian automobile sector. ESG ratings reflect the extent to which enterprises engage in responsible governance, social welfare, and environmental conservation. The analysis explores the impact of both aggregate and pillar-specific ESG scores on financial indicators such as Return on Equity (ROE), Return on Assets (ROA), and Earnings Per Share (EPS), while addressing endogeneity concerns through the application of panel least squares (PLS) regression with firm-level fixed effects and lagged ESG variables as instruments to mitigate reverse causality. This approach enhances the robustness of causal interpretation between ESG disclosure and financial outcomes. The study covers all automobile companies listed on the Bombay Stock Exchange (BSE) and those included in the BSE 500 index from 2015 to 2023. The findings reveal that ESG initiatives in the Indian automobile sector may not yield immediate or measurable financial gains through conventional metrics like ROA, ROE, and EPS. However, ESG adoption significantly contributes to long-term wealth creation, brand loyalty, and corporate goodwill. The results emphasise that sustainable business practices enhance organisational resilience and stakeholder confidence. Furthermore, the study aligns with SDG 8, SDG 9, and SDG 12, underscoring the important role of ESG integration in advancing sustainability and long-term financial stability. Copyright© 2025 The Author(s). This article is distributed under the terms of the license CC-BY 4.0., which permits any further distribution in any medium, provided the original work is properly cited.Article’s history: Received 15th of November, 2025; Revised 12th of December, 2025; Accepted 23rd of December, 2025; Available online: 30th of December, 2025. Published as article in the Volume XX, Winter, Issue 4(90), December, 2025.
🔗 Provenance — このレコードを発見したソース
- openaire https://doi.org/10.57017/jaes.v20.4(90).15first seen 2026-05-14 22:30:19
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