グリーン投資の媒介的役割：ガバナンスと持続可能なパフォーマンス
The Role of Green Investment Mediation: Governance and Sustainable Performance (原題)
Balqis Laurel Zuharah, Aviani Widyastuti
🤖 gxceed AI 要約
日本語
インドネシアの非金融企業145社・2016〜2024年のパネルデータ（1,160観測）を用い、取締役会規模と監査委員会開催頻度がESG開示に与える影響を、グリーン投資を媒介変数として検証した研究。取締役会が大きく監査委員会が活発な企業ほどESG情報を多く開示し、グリーン投資もESG開示に正の影響を持つ。ただしグリーン投資が取締役会規模とESG開示の関係を媒介する証拠は弱く、監査委員会については媒介効果が認められなかった。ガバナンスがESG開示の主要ドライバーであることを示す。
English
Using panel data on 145 Indonesian non-financial firms (2016–2024, 1,160 observations) with a fixed-effects model, this study tests whether board size and audit committee meetings drive ESG disclosure, with green investment as a mediator. Larger boards and more active audit committees disclose more ESG information, and green investment positively affects disclosure. However, green investment only weakly mediates the board-size effect and does not mediate the audit-committee effect, suggesting governance drives disclosure mainly through direct oversight.
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
新興国におけるESG開示のガバナンス要因を実証する研究で、SSBJ基準導入や有報でのサステナビリティ開示拡充を進める日本企業にとって、取締役会・監査委員会の関与が開示の質を左右するという示唆は、社内ガバナンス体制の整備を検討する際の参照材料となる。
In the global GX context
Adds emerging-market evidence to the global disclosure literature on how board and audit-committee structures shape ESG reporting quality, relevant to ISSB/CSRD implementation debates where governance oversight is treated as a key enabler of credible sustainability disclosure.
👥 読者別の含意
🔬研究者:新興国におけるガバナンスとESG開示の媒介モデル分析の実証例として参照できる。
🏢実務担当者:取締役会・監査委員会の関与強化がESG開示の充実につながることを示す社内体制整備の根拠になる。
🏛政策担当者:開示規制の設計において、企業統治機構の監督機能をどう位置づけるかの参考になる。
📄 Abstract（原文）
This research examines the impact of Board Size (BoD Size) and Audit Committee Meetings (ACM) on Indonesian non-financial companies’ ESG disclosure, incorporating Green Investment (GI) as a mediator. Panel-data approach is used in this study with 145 non-financial companies listed on the Indonesia Stock Exchange during 2016–2024, yielding 1,160 observations. This study also applies the Fixed Effects Model (FEM) as the primary estimation method in the panel data analysis. The empirical results reveal that firms with larger boards and more active audit committees tend to disclose ESG information more extensively, while GI positively influences ESG disclosure. The analysis reveals weak evidence regarding GI’s role in transmitting the effect of BoD Size to ESG disclosure. Furthermore, GI fails to act as a mediator in the relationship between ACM and ESG transparency. These findings suggest that larger boards may support sustainability reporting partly through green investment initiatives, although the effect is relatively weak, while audit committee activity primarily enhances ESG disclosure through direct governance and reporting oversight mechanisms. Ultimately, this study emphasizes that robust corporate governance serves to meet stakeholder information needs while enhancing the accountability of sustainability reporting. Furthermore, it demonstrates that governance is a key driver for ESG disclosure among Indonesian non-financial firms. This study uses the Green Investment mechanism as a mediator linking governance and ESG performance.
🔗 Provenance — このレコードを発見したソース
- openaire https://doi.org/10.17509/jaset.v18i1.95016first seen 2026-11-05 04:39:54 · last seen 2026-11-06 04:28:50
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