Developing an ESG score for Tunisian banks: a quantile regression approach to assess its impact on financial performance with governance quality moderation
チュニジア銀行向けESGスコアの開発：ガバナンス品質の調整効果を考慮した財務パフォーマンスへの影響評価における分位点回帰アプローチ (AI 翻訳)
Fatma Ben Hamadou, O. Gharbi, M. Boujelbène
🤖 gxceed AI 要約
日本語
チュニジア銀行向けに定量的・定性的データ（年次報告・ソーシャルメディア）を組み合わせたESGスコアと、12項目のコーポレートガバナンス品質指数を新たに構築。分位点回帰分析により、ESGスコアと財務パフォーマンスの関係は低・高パフォーマンス水準で有意な負の関係にあるが、ガバナンス品質が正に調整することを発見。環境・社会の各ピラーはパフォーマンスに正の影響を与え、ガバナンス品質がこれを強化する。
English
This study constructs a novel ESG score and corporate governance quality index specific to Tunisian banks using quantitative and qualitative data from annual reports and social media. Using quantile regression, it finds a significant negative relationship between ESG scores and financial performance at both low and high performance levels, but governance quality positively moderates this relationship. Environmental and social pillars have positive performance effects, enhanced by governance quality.
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
チュニジアという新興市場に特化したESGスコアとガバナンス指標を開発した点は、日本の金融機関が新興国投資評価に応用できる可能性がある。ただし、日本のSSBJや有報におけるESG開示とは直接の接点は薄い。
In the global GX context
The paper provides an emerging-market empirical evidence on the ESG-financial performance nexus with governance moderation, contributing to the global debate on ESG materiality and rating methodologies. It demonstrates how local ESG scoring can be constructed using publicly available data, which is relevant for disclosure infrastructure discussions.
👥 読者別の含意
🔬研究者:Provides novel evidence on the ESG-performance relationship in an under-researched emerging market, using quantile regression to capture nonlinear effects.
🏢実務担当者:Offers a practical ESG scoring methodology that Tunisian banks (and similar emerging-market institutions) can use to evaluate and communicate their sustainability efforts.
🏛政策担当者:Highlights the importance of strengthening corporate governance to maximize the financial benefits of ESG practices, informing regulatory design in emerging economies.
📄 Abstract（原文）
The objective of this research is to develop a novel Environmental, Social, and Governance (ESG) score for the Tunisian banking sector and investigate its relationship with financial performance. In addition, the study analyzes the moderating influence of a newly constructed corporate governance quality index on this relationship across different quantiles of banking performance. The research constructs a new ESG score by combining quantitative and qualitative data from Tunisian banks' annual reports and social media platforms. A corporate governance quality index, based on 12 key characteristics, has also been developed. The analysis uses quantile regression to evaluate the effect of the ESG score on banking performance and to explore the moderating effect of corporate governance quality across different performance quantiles. The results exhibit a significant negative relationship across ESG scores and banks' financial performance at both low and high-performance levels. However, the quality of corporate governance positively moderates this relationship. Further analysis reveals that the Environmental pillar exerts a positive influence on performance, which is enhanced by the governance quality, while the Social pillar's positive impact is mainly observed in higher-performing banks. The newly developed ESG rating system is a valuable measure for investors, policymakers and bank managers to evaluate the sustainability efforts of Tunisian banks. The results highlight the importance of enhancing corporate governance to maximize the benefits of ESG practices. This study introduces both the first ESG score and corporate governance index specific to the Tunisian banking sector, offering new practical evidence of the nexus between ESG, banking performance and governance in an emerging market context.
🔗 Provenance — このレコードを発見したソース
- semanticscholar https://doi.org/10.1108/cfri-01-2025-0035first seen 2026-07-18 07:49:12
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