Construction and Validation of a 5P–ESG Composite Index for Sustainable Corporate Governance and Financial Analysis in Emerging Markets: Evidence from the MSCI COLCAP
新興市場における持続可能なコーポレートガバナンスと財務分析のための5P-ESG複合指数の構築と検証：MSCI COLCAPからのエビデンス (AI 翻訳)
Alejandro Acevedo Amorocho, Á. Acevedo-Duque, José Gerardo De la Vega Meneses, Freddy Alonso Aguillón Duarte, Elena Cachicatari-Vargas
🤖 gxceed AI 要約
日本語
本研究は、新興市場向けに5P-ESG複合指数を構築・検証した。従来のESGに平和とパートナーシップを加え、PCA加重で指標化。MSCI COLCAP銘柄に適用し、従来のESG指標と比較してランキングが変わることを示した。
English
This study develops and validates a 5P-ESG composite index for emerging markets, extending ESG with Peace and Partnerships dimensions. Using PCA-based weighting and MSCI COLCAP data, it demonstrates feasibility and shows ranking shifts compared to conventional ESG measures.
Unofficial AI-generated summary based on the public title and abstract. Not an official translation.
📝 gxceed 編集解説 — Why this matters
In the global GX context
This paper offers a novel ESG framework tailored to emerging markets, which is relevant for global investors seeking context-sensitive sustainability metrics beyond standard models.
👥 読者別の含意
🔬研究者:Provides a methodology for constructing a broader ESG index with endogenous weighting, applicable to other emerging markets.
🏢実務担当者:Offers a transparent tool for evaluating firm sustainability in emerging markets, useful for investment decisions.
📄 Abstract（原文）
This study develops and validates the 5P–ESG Composite Index as a finance-oriented framework for assessing firm-level sustainable-financial performance in emerging markets. It addresses a persistent limitation in ESG measurement, namely the lack of conceptually integrated and decision-useful metrics capable of incorporating not only environmental, social, and governance dimensions, but also institutional and relational dimensions that are especially relevant in heterogeneous emerging-market settings. Conceptually, the proposed framework is grounded in the 2030 Agenda’s 5Ps (People, Planet, Prosperity, Peace, and Partnerships) and extends conventional ESG approaches by explicitly incorporating Peace and Partnerships into firm-level assessment. Methodologically, the index is constructed through sequential indicator selection, data cleansing, winsorization, normalization, pillar-level scoring, and PCA-based endogenous weighting, while its statistical robustness is assessed through internal consistency tests and factorability diagnostics. Empirically, the framework is applied to issuers in the MSCI COLCAP universe, where it proves operationally feasible and suitable for classifying firms into relative performance groups. In addition, a benchmark comparison against a conventional ESG-3 scheme shows that the broader 5P architecture can modify issuer rankings and tercile classification. Overall, the findings support the proposed index as a transparent, auditable, and context-sensitive tool for investors and decision-makers seeking more comprehensive sustainability metrics in emerging markets.
🔗 Provenance — このレコードを発見したソース
- semanticscholar https://doi.org/10.3390/su18084065first seen 2026-05-06 00:38:32
gxceed は公開メタデータに基づく研究支援データセットです。要約・翻訳・解説は AI 支援で生成されています。 最終的な解釈・検証は利用者が原典資料に基づいて行うことを前提とします。