Corporate ESG Disclosure in Agribusiness: Effects on Market Value and Investor Behavior
農業企業におけるESG開示：市場価値と投資家行動への影響 (AI 翻訳)
Shaoyu Han, Yeng Wai Lau, Saidatunur Fauzi Saidin
🤖 gxceed AI 要約
日本語
本稿は、農業企業におけるESG開示が市場価値と投資家行動に与える影響を検証。150社5年間のデータ分析により、ESG開示スコア1ポイント上昇で時価総額が約4.5億ドル増加、投資家センチメントも向上することを示した。また、コーポレートガバナンスの質がESG開示の質と信頼性を高め、長期投資を促進する。
English
This paper examines the impact of ESG disclosure on market value and investor behavior in agribusiness. Using a 5-year panel of 150 firms, it finds that a one-point increase in ESG disclosure score raises market capitalization by $0.45 billion and improves investor sentiment. Corporate governance quality positively influences ESG disclosure reliability, promoting long-term investment.
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基準の策定や有報でのサステナビリティ開示義務化が進んでおり、本稿の農業企業におけるESG開示の経済的価値の実証結果は、日本の非金融企業にも示唆を与える。特に、ガバナンスの質と開示の信頼性の関係は、日本企業の統合報告書作成にも参考となる。
In the global GX context
This paper adds to the global evidence on the financial materiality of ESG disclosure, supporting the ISSB and CSRD frameworks. It highlights that ESG transparency drives market value and investor sentiment, which is directly relevant to ongoing debates on mandatory climate disclosure in the US and EU.
👥 読者別の含意
🔬研究者:Provides empirical evidence on the market value relevance of ESG disclosure, useful for sustainable finance and disclosure research.
🏢実務担当者:Demonstrates that ESG transparency can increase market capitalization and positive investor sentiment, supporting corporate disclosure strategy.
🏛政策担当者:Strengthens the case for mandatory ESG disclosure by showing its positive impact on market valuation and investor engagement.
📄 Abstract（原文）
This paper examines the impact of market value and investor behaviour associated with Environmental, Social and Governance (ESG) disclosure in agribusiness. ESG disclosure is an important area of corporate reporting, as investors are increasingly focused on sustainability, accountability, and good governance when making investment decisions. The paper is based on a 5-year longitudinal database for 150 publicly traded agribusiness firms with a total of 750 firm-year observations. The results show that one point increase in the ESG disclosure score is related to an increase in market capitalization by about USD 0.45 billion (p = 0.000). In addition, ESG disclosure has a positive relationship with investor sentiment, with a coefficient of 0.35 (p = 0.000), meaning that the more transparency there is, the more positive the investors' perception. The results also confirm that corporate governance quality is positively associated with the quality and reliability of ESG disclosure, thus promoting long-term investment. Overall, this study underlines the increasing importance of ESG factors in shaping the market performance and investor engagement of agribusiness. By presenting empirical evidence on the relationship, this study informs the sustainable finance literature and has practical implications for managers, policymakers, and stakeholders interested in shaping business growth that is aligned with responsible and transparent business practices.
🔗 Provenance — このレコードを発見したソース
- semanticscholar https://doi.org/10.36956/rwae.v7i1.2631first seen 2026-05-05 23:18:20
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