Corporate Sustainability Disclosure, Firm Profitability, and Board Diversity: Unveiling the Interrelationships in a Developing Economy
企業のサステナビリティ開示、収益性、取締役会の多様性：発展途上経済における相互関係の解明 (AI 翻訳)
Erekle Pirveli, Iza Gigauri, Claudia Covucci
🤖 gxceed AI 要約
日本語
ジョージアの上場企業を対象に、取締役会の多様性がサステナビリティ開示を通じて企業収益性に与える影響を構造方程式モデリングで分析。多様性は開示を高めるが収益性への直接効果は見られず、開示と収益性の関連も非有意。新興国文脈での示唆を提供。
English
Using structural equation modeling on Georgian listed firms (2018-2023), this study finds that board diversity enhances sustainability disclosure but does not directly impact profitability, and disclosure itself has no significant effect on profitability. Provides emerging market insights on ESG disclosure dynamics.
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
日本ではSSBJ開示義務化が進む中、取締役会の多様性と開示の質の関連はコーポレートガバナンス改革に示唆を与える。ただしジョージア特有の文脈に留意。
In the global GX context
Contributes to global discourse on ESG disclosure and board diversity, offering evidence from an emerging market that may inform ISSB adoption and corporate governance research.
👥 読者別の含意
🔬研究者:新興国におけるESG開示と企業統治の関係性についての実証的知見。
🏢実務担当者:取締役会の多様性が開示強化に寄与する可能性を示唆。
🏛政策担当者:開示規制と企業統治の連携を検討する際の参考。
📄 Abstract（原文）
Drawing on stakeholder theory, agency theory, and critical mass theory, this study investigates the relation between board diversity and firm profitability channeled through sustainability disclosure. Employing structural equation modeling, this study analyzes data from annual reports of all publicly listed Georgian entities from 2018 to 2023, covering 246 firm-year observations. The research findings reveal that board diversity (including gender representation, nationality, and number of members) significantly enhances sustainability disclosure, but does not have a measurable impact on firm profitability. Moreover, the results indicate a nonsignificant effect of sustainability disclosure on firm profitability. This study exhibits that control variables such as ownership concentration and CEO duality negatively impact sustainability scores weakening the relationship between ESG disclosure and firm profitability. Report language negatively affects sustainability score and company size plays a favourable role in ESG performance. The results are explained by the country context. This research contributes to the academic discourse on sustainability disclosure, board diversity, and firm profitability and provides new insight into board diversity’s role in fostering a sustainable corporate environment from an emerging market’s perspective.
🔗 Provenance — このレコードを発見したソース
- semanticscholar https://www.mdpi.com/1911-8074/19/8/570/pdf?version=1785565671first seen 2026-08-08 05:22:33
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