ESG Disclosure Ratings and Corporate Financial Performance: A Comparative Analysis of SADC-Listed Firms (2018–2024)
ESG開示格付けと企業の財務業績：SADC上場企業の比較分析（2018-2024） (AI 翻訳)
Chakanetsa Patrick Korera, Elia Madondo
🤖 gxceed AI 要約
日本語
本研究は、南部アフリカ開発共同体（SADC）の10証券取引所に上場する99社を対象に、ESG開示格付けと財務業績の関係を分析。ガバナンス開示が最高スコア（平均4.38）、環境開示が最低（3.93）で、上位四分位のESG企業は平均ROA18.2%（下位は9.7%）と、ガバナンススコアと収益性に強い正の相関を確認。統一的なESGフレームワークの導入を提言。
English
This study analyzes the relationship between ESG disclosure ratings and financial performance for 99 companies listed on ten Southern African Development Community (SADC) stock exchanges from 2018 to 2024. Governance disclosure scored highest (average 4.38) while environmental disclosure scored lowest (3.93). Top-quartile ESG firms achieved 18.2% average ROA vs. 9.7% for lower-ranked firms, confirming a strong positive correlation between governance scores and profitability. The study recommends standardized ESG frameworks and stricter regulatory enforcement.
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
本論文はアフリカSADC地域のESG開示実態を実証的に示し、日本企業のアフリカ市場進出や日本版SSBJ・有報におけるESG開示の国際比較に有用である。
In the global GX context
This paper provides empirical evidence on ESG disclosure quality across diverse African markets, contributing to the global debate on ESG standardization. It highlights governance as the strongest pillar linking to financial performance, informing international frameworks like ISSB and CSRD.
👥 読者別の含意
🔬研究者:This study offers comparative ESG disclosure data from underrepresented African markets, valuable for cross-country research on ESG-financial performance links.
🏢実務担当者:Corporate sustainability teams in SADC can use the findings to prioritize governance disclosure for financial performance improvement.
🏛政策担当者:Regulators in emerging markets can leverage the recommendation for standardized ESG frameworks and enforcement.
📄 Abstract（原文）
The study examines how Environmental Social and Governance ESG disclosure ratings relate to the financial performance of companies listed on ten Southern African Development Community stock exchanges between 2018 and 2024. The study uses a mixed-methods research design which combines annual report content analysis with statistical assessment of ESG metrics that match FTSE4Good standards to evaluate 99 companies from different economic and regulatory environments. The study uses Return on Assets ROA and Return on Equity ROE and Net Profit Margin as indicators of financial performance. The analysis shows significant regional differences in ESG disclosure quality because Johannesburg Stock Exchange-listed companies provide better reporting which results in an average ESG score of 13.60 while Dar es Salaam Stock Exchange reports lower ESG scores of 10.65. The strongest pillar of the study shows governance as the strongest pillar with an average score of 4.38 while environmental disclosure shows the lowest score with an average of 3.93. The statistical results show a strong positive relationship between governance scores and financial performance because top-quartile ESG firms achieved 18.2% average ROA while lower-ranked ESG firms reached 9.7% ROA. The study recommends that SADC markets should implement standardized ESG frameworks which require different levels of reporting and stricter regulatory enforcement to achieve sustainable corporate operations.
🔗 Provenance — このレコードを発見したソース
- semanticscholar https://doi.org/10.51137/wrp.ijsbe.646first seen 2026-06-26 05:34:45
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