Exploring the Effect of Ownership Concentration, Board Independence and SDG Reporting: Malaysian Evidence

所有権集中度、取締役会の独立性、SDG報告の影響の探求：マレーシアの証拠 (AI 翻訳)

S. Qaderi, Sitraselvi Chandren

Sustainable Development📚 査読済 / ジャーナル2026-03-09#ESG

🤖 gxceed AI 要約

日本語

本研究は、マレーシア上場企業を対象に、所有権集中度（OWNC）がSDG開示に与える影響と、取締役会の独立性（BIND）の調整効果を検証。分析の結果、OWNCはSDG開示を有意に抑制するが、独立取締役がその関係を弱めることが明らかになった。エンドジェニティ対策後も結果は頑健であり、統治構造が持続可能性報告に重要であることを示唆。

English

This study examines how ownership concentration (OWNC) affects SDG disclosure in Malaysian listed firms and whether board independence (BIND) moderates this relationship. Using 572 firm-year observations from 2017-2023, the findings reveal that OWNC significantly reduces SDG disclosure, but independent directors positively moderate this nexus. Results are robust to endogeneity checks, highlighting the role of governance in sustainability reporting.

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

マレーシアでの知見は、日本企業の所有者集中度とSDG開示の関係にも示唆を与える。特に独立取締役の役割は、日本のコーポレートガバナンス改革にも参考になる。

In the global GX context

This paper adds to the scarce empirical literature on SDG disclosure determinants in emerging markets. The moderating role of board independence is relevant for global investors and policymakers promoting sustainability transparency through governance reforms.

👥 読者別の含意

🔬研究者:Useful for scholars studying the intersection of corporate governance and sustainability disclosure, especially in developing countries.

🏢実務担当者:Corporate governance teams can leverage the finding that independent directors enhance SDG reporting, informing board composition decisions.

🏛政策担当者:Regulators in emerging markets can consider policies that strengthen board independence to improve SDG disclosure.

📄 Abstract（原文）

As the global sustainability agenda continues to gain momentum, especially within the United Nations Sustainable Development Goals framework, it becomes more critical to understand the underpinning governance mechanisms that drive corporate SDG disclosure in developing countries. Although ownership concentration (OWNC) is a characteristic feature of the corporate governance structure in most emerging markets, its impact on sustainability transparency has remained relatively unexplored. This paper explores how OWNC influences SDG disclosure in developing economies and whether board independence (BIND) influences this nexus. Using 572 firm‐year observations for top‐listed companies in Malaysia (2017–2023), the study employs OLS regression results with cluster‐robust standard errors. Based on agency theory, the findings indicate that the fundamental role of OWNC is to significantly mitigate SDG disclosure. On the other hand, findings show that independent directors are strong positive moderators of the OWNC‐SDG disclosure relationship. Our results are robust to various econometric techniques, including logistic regression, Newey‐West regression and endogeneity checks, such as Heckman's two‐stage estimation. Our findings have implications for shareholders, investors, regulatory authorities and policymakers by highlighting the essential role of independent directors in strengthening SDG disclosure. Contributing to the sparse literature on this topic, particularly regarding the moderating role of BIND, allows us to explain the OWNC‐SDG disclosure nexus.

🔗 Provenance — このレコードを発見したソース

semanticscholar https://doi.org/10.1002/sd.70924first seen 2026-05-15 18:28:28 · last seen 2026-06-15 05:27:19

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