ESG disclosure facilitator: How do the multiple large shareholders affect firms’ ESG disclosure? evidence from China

日本語

本論文は、中国企業を対象に、複数の大株主が企業のESG開示に与える影響を分析。大株主間の競合がより多くのESG開示を促すことを示唆。企業統治と開示の関係に新たな知見を提供。

English

This paper examines how the presence of multiple large shareholders affects firms' ESG disclosure in China. It finds that competition among large shareholders can act as a facilitator for more comprehensive ESG disclosure. The study provides insights into the governance mechanisms driving corporate sustainability transparency.

日本のGX文脈において

日本でもESG開示が注目される中、株主構成が開示に与える影響を理解することは、コーポレートガバナンスと開示戦略の連携を考える上で示唆に富む。特に複数大株主の存在が開示促進に寄与する点は、日本の株式市場にも応用可能。

In the global GX context

This paper contributes to the global debate on ESG disclosure determinants, highlighting the role of ownership structure. It adds empirical evidence from China, a key emerging market, to the literature on corporate governance and sustainability reporting. Useful for understanding how shareholder dynamics influence transparency.