Corporate Sustainability Performance vis-à-vis ESG Disclosure and R&D: Does It Matter to Influence Corporate Performance—Evidence from India
ESG開示と研究開発が企業パフォーマンスに与える影響：インドのエビデンス (AI 翻訳)
N. Narsa Goud
🤖 gxceed AI 要約
日本語
本研究は、インドの上場企業を対象に、ESG開示と研究開発投資が財務パフォーマンスに与える影響を分析。パネルデータ分析の結果、ESG開示全体はROE、ROA、トービンのQと正の相関を示し、環境・CSR・ガバナンス開示も同様に正の効果が確認された。特に研究開発投資はESGスコアと企業パフォーマンスの向上に媒介効果を持つことが示された。
English
This study examines the impact of ESG disclosure and R&D investment on financial performance for Indian listed firms. Using panel data models, it finds that overall ESG disclosure positively correlates with ROE, ROA, and Tobin's Q. Environmental, CSR, and governance disclosures each show positive effects. R&D investment mediates the relationship between ESG and performance, enhancing both.
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
インド市場の分析ではあるが、ESG開示と企業価値の関連性を示す点で、日本のSSBJや有価証券報告書におけるESG情報開示の実務においても示唆に富む。特にR&Dとの相互作用は、日本企業の技術投資とESG統合を考える上で参考になる。
In the global GX context
This paper provides empirical evidence from an emerging market (India) on the positive link between ESG disclosure and corporate performance. It contributes to the global debate on the materiality of ESG factors, relevant to frameworks like ISSB and CSRD, by highlighting the mediating role of R&D investment.
👥 読者別の含意
🔬研究者:Provides evidence on ESG disclosure and R&D interaction in an emerging market, useful for comparative studies.
🏢実務担当者:Corporate sustainability teams in India (and similar markets) can justify ESG investments by linking them to financial performance.
🏛政策担当者:Regulators in emerging economies may use this to promote ESG disclosure mandates and R&D incentives.
📄 Abstract（原文）
This study investigated the relationship between environmental, social and governance (ESG) disclosure and investment in R&D and the firm’s financial performance. The firm’s financial performance is measured through indicators such as financial (return on equity (ROE)), operational (return on assets (ROA)) and market performance (Tobin’s Q). The study covers sample selection in 7 years, ranging from FY 2016–2017 to FY 2022–2023, of Indian-listed firms on the Bombay Stock Exchange. This study used panel data models: multiple regression, fixed effects model and system generalised method of moments. The empirical results confirmed that the overall ESG disclosure positively correlates with ROE, ROA and Tobin’s Q. However, the results of ESG interrelated elements are measured separately by ESG disclosures. ENV, CSR and GOV disclosure reported a positive relationship across all corporate performance indicators of ROE, ROA and Tobin’s Q. The disclosure of governance and the firm’s investment in research and development (R&D) are significantly and positively correlated with corporate performance. Also, this study examines the effects of investment in R&D’s mediating role in improving ESG score and enhancing corporate performance. The study finds that ordering inferences by R&D has a more significant impact on improving ESG scores and financial performance. The study’s outcomes can be helpful to the company’s augmentation of the ESG matter disclosure and better quality in reporting and achieving ESG standards and financial performance. Further, these results benefit investors, managers and policymakers mostly.
🔗 Provenance — このレコードを発見したソース
- openaire https://doi.org/10.1177/09746862251384720first seen 2026-05-05 19:08:19
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