Indigenous Governance and the Financing of Circular Economy Transitions: A Theoretical Perspective
先住民ガバナンスと循環経済移行の資金調達：理論的視点 (AI 翻訳)
Shumi M. Akhtar, R. Powell, Farida Akhtar, Jiongcheng Lu
🤖 gxceed AI 要約
日本語
本論文は、先住民のビジネス原則（世代を超えた管理、互恵性、集団的説明責任）が循環経済企業の資金調達とガバナンスに与える影響を理論化する。資本予算、資金調達摩擦、資本コスト、リスク管理に関する4つの命題を提示し、先住民のガバナンスが持続可能な金融に貢献する可能性を示す。
English
This paper develops a finance-oriented conceptual framework linking Indigenous business principles to the funding and governance of circular economy firms. It proposes four propositions connecting Indigenous governance to capital budgeting, financing frictions, cost of capital, and downside-risk management, repositioning Indigenous practice as a governance architecture for sustainable finance.
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
日本では先住民ガバナンスの議論は限定的だが、循環経済への移行資金調達（グリーンボンド、サステナビリティリンクローン）の文脈で、長期的視点やステークホルダーとの関係構築の示唆が得られる。
In the global GX context
Globally, this framework offers a novel perspective on how non-Western governance logics can reshape sustainable finance, particularly in transition finance and circular economy contexts. It challenges conventional assumptions about capital allocation and risk disclosure, aligning with ISSB's emphasis on governance and long-term value creation.
👥 読者別の含意
🔬研究者:Provides a theoretical foundation for studying how Indigenous governance affects capital budgeting and risk management in circular economy firms.
🏢実務担当者:Offers insights for firms seeking patient capital or social-license-based financing structures that align with Indigenous principles.
🏛政策担当者:Suggests that regulatory frameworks for green finance could incorporate Indigenous governance to enhance legitimacy and long-term impact.
📄 Abstract（原文）
This paper develops a finance-oriented conceptual framework linking Indigenous business principles to the funding and governance of circular economy firms. The core argument is that Indigenous governance logics-intergenerational stewardship, reciprocity, collective accountability, and relational value creation-alter how firms evaluate projects, allocate control rights, disclose non-financial risks, and build legitimacy with capital providers. In finance terms, these mechanisms can lengthen decision horizons, reduce social-license and regulatory risk, improve stakeholder monitoring, and widen access to patient capital for regenerative investments whose benefits are realized over long horizons. Building on Indigenous entrepreneurship and commons-governance scholarship, the paper derives four propositions connecting Indigenous governance to capital budgeting, financing frictions, cost of capital, and downside-risk management. The contribution is to reposition Indigenous business practice from a cultural addon to a governance architecture with direct implications for sustainable finance, entrepreneurial finance, and corporate governance. The framework also clarifies boundaries: the argument is not for symbolic appropriation, but for Indigenous-led, context-specific governance design in which financing structures respect community rights and long-term ecological obligations.
🔗 Provenance — このレコードを発見したソース
- semanticscholar https://doi.org/10.2139/ssrn.6618500first seen 2026-07-01 05:52:31
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