The Impact of Earnings Management on Corporate Sustainability: Evidence From London Stock Exchange Listed Companies
利益管理が企業のサステナビリティに与える影響：ロンドン証券取引所上場企業からの証拠 (AI 翻訳)
Richard Arhinful, Leviticus Mensah, Halkawt Ismail Mohammed Amin, Bright Akwesi Gyamfi, H. Obeng
🤖 gxceed AI 要約
日本語
本研究は、英国のTCFD報告義務下で、利益管理（グリーンウォッシングを含む）が企業の環境・社会・経済的サステナビリティに与える影響を分析。ロンドン証券取引所上場200社の23年間のデータを用い、裁量的発生項目（利益操作の指標）が高いほどサステナビリティが低下することを発見。内部監査の強化と倫理的報告の徹底が重要と結論。
English
This study examines how earnings management (including greenwashing) affects corporate environmental, social, and economic sustainability under the UK's TCFD reporting mandate. Using 23 years of data from 200 London Stock Exchange non-financial firms, it finds that higher discretionary accruals (earnings manipulation) are significantly associated with lower sustainability performance. The paper recommends strengthening internal audits and enforcing ethical reporting to enhance stakeholder trust.
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基準の導入に伴い、開示の質とグリーンウォッシング防止が重要課題となっている。本論文は利益管理とサステナビリティの負の関係を実証し、日本企業における内部監査や報告倫理の強化の必要性を示唆する。
In the global GX context
This paper provides empirical evidence linking earnings management to reduced sustainability outcomes, relevant to global TCFD/ISSB frameworks and anti-greenwashing regulations like the EU CSRD and SEC climate rule. It underscores the need for robust disclosure integrity mechanisms.
👥 読者別の含意
🔬研究者:Provides a longitudinal empirical analysis of earnings management's impact on ESG dimensions, with methodological contributions using AMG, Driscoll-Kraay, and GMM estimators.
🏢実務担当者:Highlights the importance of internal audit and ethical reporting to prevent greenwashing and improve sustainability performance.
🏛政策担当者:Supports regulatory efforts to strengthen disclosure enforcement and combat greenwashing, as seen in TCFD/ISSB mandates.
📄 Abstract（原文）
An increasing number of companies engage in earnings management, including greenwashing, by manipulating sustainability reports. Under the UK Companies Act 2006, corporations are required to report to the Task Force on Climate‐related Financial Disclosures (TCFD), reflecting the nation's commitment to integrating environmental, social, and governance (ESG) factors into corporate reporting. This study examined the impact of earnings management on corporate environmental, social, and economic sustainability. Using purposive sampling based on defined inclusion and exclusion criteria, the study analyzed 23 years of data (2002–2024) from 200 non‐financial companies listed on the London Stock Exchange. Pre‐estimation tests identified cross‐sectional dependence, heterogeneity and endogeneity which were addressed using the augmented mean group (AMG) estimator, fixed effects with Driscoll–Kraay standard errors and two‐step difference general method of movements (GMM). The findings revealed that earnings management, measured by discretionary accruals, had a significant negative effect on corporate sustainability across environmental, social, and economic dimensions. For non‐financial firms listed on the London Stock Exchange, higher discretionary accruals are associated with lower sustainability across environmental, social, and economic dimensions. Strengthening internal audits, enforcing ethical reporting, and ensuring accurate disclosures can enhance stakeholder trust, regulatory compliance, and long‐term corporate sustainability.
🔗 Provenance — このレコードを発見したソース
- semanticscholar https://doi.org/10.1002/sd.70685first seen 2026-05-05 21:46:56
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