Unveiling the Nexus Between ESG and Financial Performance: The Mediating Role of Financial Constraints—Evidence from India
ESGと財務パフォーマンスの関係の解明：金融制約の媒介効果—インドのエビデンス (AI 翻訳)
null Poornima S., null Gopalakrishna B. V., Mithun Samanta
🤖 gxceed AI 要約
日本語
インドの上場企業690社を対象に、ESG開示が財務パフォーマンスに与える影響を分析。金融制約が部分的な媒介効果を持つことを発見。ESG開示の促進が財務リスク軽減とステークホルダーの信頼向上に寄与することを示唆。
English
Analyzing 690 Indian listed firms from 2011-2022, this study finds that ESG disclosure positively impacts financial performance, partially mediated by reduced financial constraints. It highlights the importance of ESG disclosure for operational efficiency and stakeholder trust.
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
インド新興市場の分析だが、日本企業のESG開示と資金調達コストの関係を考察する際の参考になる。ただしSSBJや有報とは直接関係しない。
In the global GX context
Provides emerging market evidence on the ESG-financial performance nexus via financial constraints. Useful for global investors and regulators considering ESG disclosure mandates, though India-specific.
👥 読者別の含意
🔬研究者:Adds to ESG-financial performance literature with mediation analysis in an emerging market context.
🏢実務担当者:Suggests that ESG disclosure can alleviate financial constraints, improving financial stability.
🏛政策担当者:Supports policies promoting ESG disclosure to enhance corporate financial health.
📄 Abstract（原文）
In recent years, the prominence of environmental, social, and governance (ESG) investing has expanded significantly due to growing awareness of sustainability issues, such as climate change and social justice concerns, as well as an increasing understanding of the need for sustainable business approaches. This increasing focus on ESG has led to a growing demand for ESG-related disclosure in the financial market. Therefore, this study investigates the mediating role of financial constraints in the relationship between ESG disclosure and financial performance. The study aims to determine whether firms with strong ESG disclosure experience reduced financial constraints, leading to improved financial outcomes. Analyzing 690 Indian-listed firms from 2011 to 2022, the research provides a comprehensive assessment of sustainability practices in an emerging market. Findings suggest that a company’s ESG disclosure has a positive impact on the financial outcome performance, with financial constraints acting as a partial mediator. Organizations that implement effective ESG disclosure encounter reduced financial constraints, ultimately enhancing their financial stability. Through the application of a mediation effect model, the study clarifies the indirect influence of financial constraints on the relationship between ESG and financial performance. These results highlight the importance of disclosing ESG initiatives in enhancing operational efficiency, mitigating financial risks, and fostering stakeholder trust. The insights contribute to the ongoing discussion on the integrated reporting of ESG and its financial implications. JEL Codes: G32, G34, M14, Q56
🔗 Provenance — このレコードを発見したソース
- openaire https://doi.org/10.1177/09726527261416601first seen 2026-05-14 22:08:58
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