企業の気候リスクと公衆衛生開示：デジタル・トランスフォーメーションは影響するか？
Corporate climate risk and public health disclosure: does digital transformation matter? (原題)
Jia-Na Liu, Zhi-Feng Jie, Yang Wan
🤖 gxceed AI 要約
日本語
中国上場企業2000〜2024年のパネルデータを用い、企業の気候リスク（CR）と公衆衛生開示（PHD）の非線形関係を検証。CRとPHDはU字型関係にあり、デジタル・トランスフォーメーション（DT）が変曲点を右に移動させ、高リスク域での開示回復を弱めることを示す。市場化度やROAによる異質性も確認され、地域制度環境と財務余力に応じた規制の必要性を提起する。
English
Using panel data of Chinese listed firms (2000-2024), this study examines the nonlinear link between corporate climate risk (CR) and public health disclosure (PHD). CR shows a U-shaped relationship with PHD; digital transformation shifts the turning point rightward and attenuates disclosure recovery at high risk levels. Heterogeneity by marketization and ROA supports differentiated regulatory oversight.
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
中国企業の気候リスク開示とDXの相互作用を扱う点は、SSBJ・有報での気候関連開示強化やDX投資の意思決定に示唆を与える。ただし公衆衛生開示は日本制度に直接対応せず、援用には注意が必要。
In the global GX context
This paper contributes to the global disclosure literature by linking climate risk to non-financial disclosure through digital capabilities, relevant to ISSB/CSRD debates on how technology shapes transparency thresholds. Its focus on China adds an emerging-market perspective to TCFD-aligned research.
👥 読者別の含意
🔬研究者:気候リスクと開示の非線形関係およびDXの調整効果を定量化した実証手法が参考になる。
🏢実務担当者:DX投資が気候リスク下での開示戦略・閾値に与える影響を理解する一助となる。
🏛政策担当者:地域制度環境や財務余力を考慮した差別的な開示規制の設計に示唆を与える。
📄 Abstract（原文）
Climate risk is playing an increasingly important role in shaping corporate behavior and non-financial disclosure. This study examines the nonlinear relationship between corporate climate risk (CR) and public health disclosure (PHD) using panel data from Chinese listed companies over the period 2000-2024. Empirically, this study employs a two-way fixed effects model, a moderating effect model, and a quantile regression model, accompanied by formal cross-quantile tests to evaluate the non-linear dynamics, moderating channels, and heterogeneity across conditional PHD distributions. Four key findings emerge. First, CR exhibits a U-shaped relationship with PHD, and this relationship remains robust after a series of robustness and endogeneity checks. Second, conditional marginal effects and digital transformation (DT) specific turning points show that DT changes both the level and shape of the CR-PHD relationship, shifting the turning point to the right and attenuating the recovery of PHD at higher CR levels. Third, formal cross-quantile tests confirm that the CR and its quadratic term coefficients differ across the conditional PHD distribution. Fourth, the same tests identify significant differences across marketization and return on assets groups, whereas the differences across marginal profit groups are not statistically supported. These findings highlight the role of corporate CR and technological capabilities in shaping PHD. The U-shaped dynamic indicates that moderate CR initially depresses PHD, whereas severe risk forces strategic transparency to restore stakeholder trust and corporate reputation. Furthermore, the moderating effect of DT underscores that digital capabilities buffer firms against immediate risk pressures, altering their disclosure thresholds. The observed heterogeneity across marketization levels and financial performance emphasizes the need for differentiated regulatory oversight that accounts for regional institutional environments and corporate resource slack in driving sustainable corporate transparency.
🔗 Provenance — このレコードを発見したソース
- semanticscholar https://doi.org/10.3389/fpubh.2026.1954722first seen 2026-09-26 05:25:36 · last seen 2026-09-29 05:35:54
🔔 こうした論文の新着を逃したくない方は キーワードアラート に登録（無料・3キーワードまで）。
gxceed は公開メタデータに基づく研究支援データセットです。要約・翻訳・解説は AI 支援で生成されています。 最終的な解釈・検証は利用者が原典資料に基づいて行うことを前提とします。