リスク委員会と企業開示：ガバナンス調整を伴うリスク・サステナビリティ報告に関する実証
Risk committees and corporate disclosure: Evidence on risk and sustainability reporting with governance moderation (原題)
Ria Karina, Teddy Jurnali, Sheila Septiany, Meififanny Taniono
🤖 gxceed AI 要約
日本語
インドネシア証券取引所上場企業807サンプル（2019〜2023年）を用い、リスク委員会がリスク開示とサステナビリティ開示に与える影響を検証。リスク委員会はリスク開示には正の効果を持つが、サステナビリティ開示には有意な影響を与えない。取締役会規模と独立性はリスク開示効果を弱め、機関投資家所有はサステナビリティ開示効果を強める。リスク委員会は伝統的リスク報告には有効だが、サステナビリティ透明性には限定的であることを示す。
English
Using 807 firm-year observations from Indonesia Stock Exchange companies (2019–2023), this study examines how risk committees affect risk and sustainability disclosure. Risk committees positively influence risk disclosure but have no significant effect on sustainability disclosure. Board size and independence weaken the risk-disclosure effect, while institutional ownership strengthens the sustainability-disclosure effect. Findings suggest risk committees are more effective for traditional risk reporting than for sustainability transparency.
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基準・有価証券報告書のサステナビリティ開示が進む中、リスク委員会の機能と開示品質の関係は監査等委員会・取締役会設計を考える上で示唆がある。ただし新興国単一市場の実証であり、日本企業への直接適用には留意が必要。
In the global GX context
As ISSB/ISSB-aligned disclosure becomes mandatory in many jurisdictions, this paper adds emerging-market evidence on whether board-level risk committees actually improve sustainability transparency—relevant to global debates on governance structures for CSRD/ISSB compliance. It suggests risk committees alone may not deliver sustainability disclosure quality without ownership and board composition alignment.
👥 読者別の含意
🔬研究者:リスク委員会とサステナビリティ開示の非対称な効果を、ガバナンス調整変数とともに示す新興国実証として参照できる。
🏢実務担当者:リスク委員会の設置だけではサステナビリティ開示品質が上がりにくく、機関投資家との対話や取締役会設計が重要であることを示唆。
🏛政策担当者:リスク委員会の役割をサステナビリティ開示に拡張する際、ガバナンス要件の設計に留意すべきという示唆を提供。
📄 Abstract（原文）
Environmental and social concerns related to sustainability can represent non-financial risks requiring effective risk management (Wong, 2014). In this context, risk committees may play a role in overseeing such risks and their related corporate disclosures. This study investigates how risk committees impact both risk and sustainability disclosure, aiming to understand how corporate governance enhances transparency and investor confidence. It also examines whether board size, independence, and institutional ownership moderate these relationships, influencing the effectiveness of risk committees in corporate reporting. Using a quantitative approach, this study analyzed 807 samples from Indonesia Stock Exchange (IDX) companies that published sustainability reports between 2019 and 2023. The results show that risk committees positively influence risk disclosure but do not significantly affect sustainability disclosure. Moderation analysis indicates that board size and independence weaken the effect on risk disclosure. Conversely, institutional ownership strengthens the impact on sustainability disclosure, but not on risk disclosure. These findings suggest risk committees are more effective for traditional risk reporting than for sustainability transparency. This study provides new insights by testing the effectiveness of risk committees in enhancing both types of disclosures. It offers practical insights for regulators, investors, and corporate leaders, underscoring the importance of risk committees in improving disclosure quality to foster transparency and trust.
🔗 Provenance — このレコードを発見したソース
- openalex https://doi.org/10.22495/rgcv16i4p2first seen 2026-11-06 05:01:24
🔔 こうした論文の新着を逃したくない方は キーワードアラート に登録（無料・3キーワードまで）。
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。