コーポレートガバナンスはG20諸国における知的資本とサステナビリティ報告の関係を緩和するか？
Does corporate governance moderate the relationship between intellectual capital and sustainability reporting in G20 countries? (原題)
Yamina Chouaibi, Wassim Ben Ali, Tijani Amara
🤖 gxceed AI 要約
日本語
G20諸国の国際企業427社（2018〜2024年）のパネルデータを用い、知的資本（人的・構造・関係資本）がサステナビリティ報告（SR）の品質に与える影響と、コーポレートガバナンスの調整効果を検証した。人的資本はSR品質に有意な正の効果を示し、構造資本は限界的に有意、関係資本は直接効果を持たないがガバナンスを考慮すると正で有意となる。ガバナンスは知的資本とSRの関係を強化し、報告の透明性向上とグリーンウォッシュ抑制に示唆を与える。
English
Using panel data on 427 international firms from G20 countries (2018-2024), this study examines how intellectual capital components (human, structural, relational) affect sustainability reporting (SR) quality and how corporate governance moderates this link. Human capital significantly improves SR quality, structural capital is marginally significant, and relational capital only becomes positive when governance is considered. Governance strengthens the IC-SR relationship, offering implications for transparency and greenwashing reduction.
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
SSBJ基準・有報でのサステナビリティ開示が進む日本企業にとって、知的資本と開示品質の関係は統合報告書の設計や投資家対応に直結する。ガバナンスが開示品質を高めるという知見は、取締役会の監督機能強化を求める日本のコーポレートガバナンス・コード改訂の議論とも整合する。
In the global GX context
As ISSB/SSBJ standards push sustainability disclosure toward assurance-ready quality, this paper links intangible-capital management to reporting quality and shows governance as a moderator — relevant to CSRD/ISSB debates on internal controls over sustainability reporting and greenwashing risk. It adds cross-country G20 evidence to a literature dominated by single-market studies.
👥 読者別の含意
🔬研究者:知的資本とサステナビリティ報告品質の関係にガバナンス調整効果を組み込んだ実証枠組みを提供する。
🏢実務担当者:人的資本・構造資本への投資と取締役会監督の強化が開示品質とグリーンウォッシュ回避に寄与することを示唆する。
🏛政策担当者:開示品質を高めるにはガバナンス要件の強化が有効であり、SSBJ/ISSB対応の制度設計に示唆を与える。
📄 Abstract（原文）
Purpose The present work aims to investigate the influence of intellectual capital (IC) components, human, structural and relational, on the quality of sustainability reporting (SR). It further examined how corporate governance moderates this relationship within the context of G20 countries. Design/methodology/approach Using a panel data set of 427 international companies from G20 nations between 2018 and 2024, data were collected from the Thomson Reuters Eikon ASSET4 database and corporate annual reports. The hypotheses were tested using multivariate linear regression. Findings The results of this study indicate that the IC components contribute to improving the quality of sustainability reports. It also reveals that human capital has a significant positive effect, while structural capital shows a positive but marginally significant relationship with SR. In contrast, relational capital has no significant direct effect; however, its contribution becomes positive and significant when corporate governance is considered as a moderating factor. Furthermore, the results suggest that corporate governance strengthens the relationship between the IC components and SR. Practical implications The findings show that human capital and structural capital improve the quality of SR, while effective corporate governance strengthens this relationship. The study therefore provides useful implications for companies and regulators to enhance reporting transparency and reduce the risk of greenwashing. Originality/value Contrary to the scant literature, this study provides a realistic conclusion on the relationship between IC components and SR, aligning with current trends that emphasize the role of IC through corporate governance, which strengthens this relationship. The study contributes to the literature by providing a comprehensive and accurate view of SR within the study through an improved SR framework and efficient methodology. It adds value in the contemporary market, where the competition is SR-driven.
🔗 Provenance — このレコードを発見したソース
- openalex https://doi.org/10.1108/cg-12-2025-0986first seen 2026-09-10 04:49:15
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