Sustainability assurance under ESG controversies: the role of governance mechanisms
ESG論争下におけるサステナビリティ保証：ガバナンスメカニズムの役割 (AI 翻訳)
Pierluigi Martino, Silvia Ferramosca, Marco Allegrini
🤖 gxceed AI 要約
日本語
本研究は、ESG論争が企業のサステナビリティ報告書に対する外部保証の取得意欲に与える影響を、欧州4カ国の上場企業データを用いて分析。ESG論争にさらされた企業は保証取得を避ける傾向があるが、サステナビリティ委員会やCSOの存在がその負の影響を緩和することを示した。ガバナンス構造が保証取得の意思決定に重要な役割を果たすことを実証。
English
This study examines how ESG controversies affect firms' decisions to obtain external assurance for sustainability reports, using panel data from European listed firms. It finds that firms facing ESG controversies are less likely to adopt assurance, but this negative effect is mitigated by the presence of a sustainability committee or chief sustainability officer. Governance mechanisms play a crucial role in shaping assurance decisions under reputational pressure.
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開示が始まり、保証取得の動きが進む中、ESG論争時の保証取得行動とガバナンスの関係は、日本企業の開示戦略や投資家対応に示唆を与える。特に、サステナビリティ委員会やCSOの設置が保証取得を促進する点は、日本企業のガバナンス設計に参考になる。
In the global GX context
This study contributes to global disclosure scholarship by linking ESG controversies to assurance adoption, a key aspect of sustainability reporting credibility. It highlights the role of governance mechanisms in mitigating negative reputational effects, offering insights for firms navigating ESG risks and for regulators considering assurance requirements.
👥 読者別の含意
🔬研究者:Provides empirical evidence on the determinants of sustainability assurance, particularly the moderating role of governance mechanisms.
🏢実務担当者:Highlights the importance of establishing sustainability committees and CSO roles to facilitate assurance adoption, especially when facing ESG controversies.
🏛政策担当者:Suggests that governance structures can influence assurance uptake, informing policy on sustainability reporting and assurance requirements.
📄 Abstract（原文）
Purpose This study aims to explore the impact of environmental, social and governance (ESG) controversies on firms’ decisions to obtain external assurance for sustainability reports. It also examines the moderating role of sustainability governance mechanisms, namely, the presence of a sustainability committee and a chief sustainability officer (CSO). Design/methodology/approach Panel logit regressions are estimated using an unbalanced panel of 11,550 firm-year observations from 1,952 listed financial and nonfinancial firms across four European countries – Italy, France, Germany and Sweden – over the period 2017–2023. Data are primarily sourced from Refinitiv Eikon and complemented by manual data collection. The dependent variable captures the voluntary adoption of sustainability assurance, whereas the key explanatory variables relate to ESG controversies and governance characteristics. Findings The results indicate that firms exposed to ESG controversies – capturing negative ESG events reported in the media – are generally less likely to adopt external assurance. However, this negative association is mitigated by sustainability governance structures, as the presence of a CSO and/or sustainability committee strengthens firms’ commitment to sustainability and increases the likelihood of engaging external assurance when firms are exposed to ESG controversies that may affect their legitimacy. Originality/value This study contributes to the literature by elucidating the role of ESG controversies in hindering sustainability assurance and highlighting the importance of corporate governance mechanisms in shaping firms’ sustainability-related responses to reputational and legitimacy challenges.
🔗 Provenance — このレコードを発見したソース
- openalex https://doi.org/10.1108/srj-04-2025-0400first seen 2026-08-14 05:05:43
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