Optimizing Business Strategy for Sustainability: Probing the Effects of <scp>CEO</scp> Features, and Corporate Reputation in Driving <scp>ESG</scp> Outcomes
持続可能性のためのビジネス戦略の最適化：CEO特性と企業評判がESG成果に与える影響の検証 (AI 翻訳)
Ummar Faruk Saeed, Ishmael Wiredu
🤖 gxceed AI 要約
日本語
本研究は、ラテンアメリカ・カリブ海地域の製造業企業を対象に、CEOの特性（外国経験、報酬、兼任、教育、権力）がESG開示に与える影響を分析。企業評判と持続可能なイノベーションが調整効果を持つことを発見。動的GMMと分位点回帰を用いて、ESG開示の高い企業ほどCEO特性の影響が強いことを示した。
English
This study examines how CEO characteristics (foreign experience, compensation, interlocks, education, power) influence ESG disclosure in 368 manufacturing firms in Latin America and the Caribbean (2013-2023). Using dynamic GMM and quantile regression, it finds that corporate reputation and sustainable innovation moderate these relationships, with stronger effects at higher ESG disclosure levels.
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
新興市場におけるESG開示の決定要因をCEO特性から分析した点は、日本企業のガバナンス改革や有報でのESG情報開示拡充に示唆を与える。ただしLAC地域限定のため、日本への直接適用には注意が必要。
In the global GX context
This paper contributes to the global ESG disclosure literature by focusing on emerging markets and the role of CEO characteristics, which is relevant for understanding how leadership drives transparency in developing economies. It complements studies on TCFD/ISSB adoption by highlighting firm-level drivers.
👥 読者別の含意
🔬研究者:Provides empirical evidence on CEO-ESG disclosure links in emerging markets, useful for comparative governance studies.
🏢実務担当者:Highlights that CEO foreign experience and compensation can enhance ESG reporting, informing board composition and incentive design.
🏛政策担当者:Suggests that promoting CEO diversity and linking pay to sustainability may improve corporate transparency in developing regions.
📄 Abstract（原文）
ABSTRACT Anchored in signaling and stakeholder theories, this study investigates the influence of CEO characteristics on environmental, social, and governance (ESG) disclosure, with a focus on the moderating roles of corporate reputation and sustainable innovation. The analysis covers the period 2013 to 2023, using a panel dataset of 368 manufacturing firms in emerging markets, particularly the Latin America and the Caribbean (LAC) region, firms across the region. To empirically test the hypotheses and address potential endogeneity, reverse causality, and dynamic firm behavior, the study employs dynamic GMM modeling. In addition, Quantile Regression (QR) is applied to uncover heterogeneous effects across varying levels of ESG disclosure. The results reveal that CEO foreign experience, compensation, interlocks, and education have a positive and significant influence on ESG disclosure, while CEO power shows a negative and significant effect. The study further finds that corporate reputation not only directly enhances ESG disclosure but also strengthens the relationship between CEO characteristics and sustainability reporting. Similarly, the interaction effect of sustainable innovation is positively associated with ESG disclosure, indicating that innovation efforts amplify the influence of CEO attributes on transparency. QR analysis reveals that these effects are pronounced in higher quantiles. Finally, the study uncovers additional layers of heterogeneity driven by global climate agreements, economic development levels, and regional dynamics within LAC. The study contributes to ESG, leadership, and corporate governance literature by offering a nuanced, multilevel perspective on sustainability disclosure, with practical implications for boards, regulators, and policymakers seeking to foster transparency and accountability in developing regions.
🔗 Provenance — このレコードを発見したソース
- openaire https://doi.org/10.1002/bsd2.70156first seen 2026-05-05 19:08:09
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