ESG情報開示と企業財務パフォーマンス：文献レビュー
ESG INFORMATION DISCLOSURE AND CORPORATE FINANCIAL PERFORMANCE: A LITERATURE REVIEW (原題)
DONG FANG XIANG, Rozaidy Mahadi, Debbra Toria Nipo
🤖 gxceed AI 要約
日本語
PRISMA枠組みに基づく系統的レビューで、ESG情報開示と企業財務パフォーマンスの関係を51件の研究から統合した。高品質なESG開示は資金制約の緩和、情報非対称性の低減、ステークホルダー信頼の構築を通じて財務パフォーマンスを高める。効果は所有制、業種、地域制度環境により異なり、内部統制と外部市場監督が調整変数となる。
English
A PRISMA-based systematic review synthesizing 51 studies on ESG disclosure and corporate financial performance. High-quality ESG disclosure improves financial performance by easing financing constraints, reducing information asymmetry, and building stakeholder trust. Effects vary by ownership, industry, and institutional context, with internal governance and external market oversight as moderators.
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
SSBJ基準の策定・有報でのサステナビリティ開示義務化が進む日本では、開示の財務的便益を示す本レビューは企業の開示対応や投資家対話の根拠として有用。所有制や制度環境による効果差は日本企業の実務設計に示唆を与える。
In the global GX context
Amid ISSB/CSRD-driven global disclosure mandates, this review consolidates evidence that ESG disclosure quality links to financing cost and firm value, supporting the business case for standardized disclosure and informing regulators on moderating institutional factors.
👥 読者別の含意
🔬研究者:ESG開示と財務成果の因果・調整メカニズムを整理する際の理論的枠組みと研究ギャップの把握に有用。
🏢実務担当者:開示品質向上が資金調達コストやステークホルダー信頼に与える便益を社内説明する根拠として活用できる。
🏛政策担当者:開示義務化の経済効果と、所有制・業種・制度環境による効果差を踏まえた制度設計の参考になる。
📄 Abstract（原文）
The study presents a systematic review that investigates the interplay between corporate ESG information disclosure and corporate financial performance. Following the PRISMA framework, the paper uses a systematic literature review methodology to ensure rigor, standardization and transparency throughout the research process. Literature was sourced from the Web of Science and Scopus databases based on structured keyword clusters pertaining to ESG information disclosure, corporate financial performance and corporate operational behavior. After screening the initially retrieved records against unified inclusion and exclusion criteria, 51 eligible academic studies were selected for thematic analysis and systematic synthesis. A standardized coding matrix was used to extract and organize core research variables such as ESG disclosure quality, disclosure dimensions, corporate profitability, operational efficiency and market performance. The findings show that high-quality ESG information disclosure significantly enhances corporate financial performance by reducing corporate financing constraints, alleviating information asymmetry, and building corporate stakeholder trust. The economic effects of ESG disclosure vary considerably depending on factors such as enterprise property rights, industry attributes and regional institutional environments. In addition, internal corporate governance and external market supervision serve as critical moderating variables in the influencing mechanism. By examining both positive and negative correlations as well as nonlinear relationships reported in existing studies, this review brings clarity to prevailing research contradictions and theoretical gaps. The results carry practical implications for corporate sustainable operation, standardized ESG information disclosure and capital market supervision. Theoretically, this study contributes to stakeholder theory, signal transmission theory and sustainable development theory as applied within corporate financial management.
🔗 Provenance — このレコードを発見したソース
- openalex https://doi.org/10.55197/qjssh.v7i5.1444first seen 2026-11-03 05:00:25 · last seen 2026-11-06 05:00:52
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