GREEN PREMIUMS AND VALUATION PARADOXES: HOW ESG INTEGRATION IS RESHAPING M&A DEAL ECONOMICS
グリーンプレミアムと評価のパラドックス：ESG統合がM&A取引の経済性をどう変えるか (AI 翻訳)
SANSKAR CHAUDHARY
🤖 gxceed AI 要約
日本語
本稿は、M&AにおけるESG評価の影響を分析。グリーンプレミアム（高いESGスコアを持つ企業への割増価格）が取引価格に与える影響と、それが必ずしも高いリターンに結びつかないパラドックスを指摘。さらに、インドのBRSRなどの規制強化やグリーンウォッシュ訴訟の増加がM&Aガバナンスに与える変化を考察。
English
This paper analyzes the impact of ESG integration on M&A deal economics. It examines the 'green premium' where firms with strong ESG profiles command higher prices, but notes a paradox: such premiums do not always yield higher returns. It also discusses regulatory tightening, such as India's BRSR, and rising greenwashing lawsuits reshaping transaction governance.
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
日本企業のM&AにおいてもESG評価の重要性が増しており、グリーンプレミアムの考え方は投資判断に影響を与える。ただし、本稿はインドのBRSRを事例としており、日本の開示制度（SSBJ）との直接的な関連は薄い。日本企業が海外M&Aを検討する際の参考となる。
In the global GX context
This paper contributes to the global debate on how ESG factors are reshaping M&A valuation and governance. It highlights regulatory developments such as India's BRSR and the rise of greenwashing litigation, which are relevant to jurisdictions like the EU and US with similar trends. The valuation paradox challenges the assumption that ESG premiums always create value.
👥 読者別の含意
🔬研究者:Useful for scholars studying ESG and M&A intersections, especially the valuation paradox and regulatory impacts.
🏢実務担当者:Corporate strategy and M&A teams can use insights to assess ESG premiums and avoid overpayment driven by perception rather than synergies.
🏛政策担当者:Regulators can note the discussion on greenwashing litigation and disclosure tightening as factors influencing market behavior.
📄 Abstract（原文）
ESG criteria are quickly reshaping corporate strategy and have a substantial effect on mergers and acquisitions. Recently, acquirers have started considering ESG not as a risk, but as a driver of value. The term "Green Premium" refers to the tendency of businesses with a strong ESG profile to negotiate higher prices. Businesses are competing for sustainable goals and that investors are willing to pay more for companies with a higher ESG score. However, this trend poses a dilemma: paying a premium for a "greener" goal does not always result in higher returns, particularly if the premium is motivated by perception rather than actual synergies. This essay explores the impact of ESG integration on M&A economics and post-merger value. Regulators across several jurisdictions are tightening disclosure requirements, exemplified by India's implementation of the Business Responsibility and Sustainability Report (BRSR), and with an increase in international ESG reporting standards. As stakeholders seek accountability for overstated and misleading sustainability claims, lawsuits pertaining to greenwashing and misrepresentation are also becoming more prevalent. All these events mark a shift in both the economics and governance of corporate transactions, where ESG performance has evolved from a peripheral to a competitive advantage, expanded legal exposure, and consideration of long-term enterprise value.
🔗 Provenance — このレコードを発見したソース
- openaire https://doi.org/10.5281/zenodo.18986696first seen 2026-05-14 22:22:21
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