グリーンタクソノミー整合性の価値関連性：マレーシア上場企業におけるESG開示品質の媒介効果
The value relevance of green taxonomy alignment: The mediating role of ESG disclosure quality among Malaysian listed companies (原題)
Md Khairu Amin Ismail, Syazwani A. Malek @ Abdul Malek, Azmahani Yaacob Othman, Nik Suriati Nik Hassan, Nooradzlina Mohd Pauzi
🤖 gxceed AI 要約
日本語
本研究は、マレーシア上場企業を対象に、グリーンタクソノミー整合性がESG開示品質を媒介して企業価値に影響する概念枠組みを提示する。シグナリング理論に基づき、マレーシア中央銀行のCCPTで文脈化されたタクソノミー整合性を信頼性メカニズムとして位置づける。ESG開示品質を、タクソノミー整合性を投資家に有用な情報へ変換する媒介経路として提案する。
English
This conceptual study proposes that green taxonomy alignment influences firm value through ESG disclosure quality among Malaysian listed companies. Drawing on signalling theory and Bank Negara Malaysia's CCPT, it frames taxonomy alignment as a credibility mechanism that strengthens sustainability claims. ESG disclosure quality is positioned as the mediating channel translating alignment into comparable, decision-useful information for investors.
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・有報開示・統合報告書の信頼性向上が課題となる中、タクソノミー整合性を開示品質の前段要因と捉える視点は、日本企業のサステナビリティ開示の説得力を高める示唆を与える。
In the global GX context
As global disclosure regimes (ISSB, CSRD, SEC climate) push for comparable sustainability information, this paper reframes taxonomy alignment as an antecedent of disclosure quality, offering a conceptual lens for assessing greenwashing risk and the credibility of transition finance claims.
👥 読者別の含意
🔬研究者:Provides a signalling-theory framework linking taxonomy alignment, ESG disclosure quality, and firm value, ripe for empirical testing in emerging markets.
🏢実務担当者:Suggests that aligning with green taxonomies can enhance disclosure credibility and investor confidence, but requires robust ESG reporting quality.
🏛政策担当者:Highlights the importance of taxonomy design and disclosure quality oversight to prevent greenwashing and support credible sustainable finance.
📄 Abstract（原文）
Capital markets are increasingly expected to support environmental objectives while maintaining financial value creation. However, the credibility of sustainability reporting remains a major concern, as uneven ESG disclosure quality may expose investors to greenwashing risk and symbolic corporate communication. Although the relationship between ESG disclosure and firm value has been widely discussed, the value relevance of green taxonomy alignment remains underexplored, particularly in relation to its effect on ESG disclosure quality. This study develops a conceptual framework that examines how green taxonomy alignment may influence firm value through ESG disclosure quality among Malaysian listed companies. Drawing on Signalling Theory, the study positions green taxonomy alignment, contextualised through Bank Negara Malaysia’s Climate Change and Principle-based Taxonomy (CCPT), as a credibility mechanism that strengthens the reliability of sustainability claims. ESG disclosure quality is proposed as the mediating channel that translates taxonomy alignment into credible, comparable and decision-useful information for investors. The study contributes to the sustainable finance literature by reframing taxonomy alignment as an antecedent of ESG disclosure quality, highlighting the role of disclosure quality in transmitting credible sustainability signals, and providing a conceptual foundation for future empirical testing in Malaysia’s evolving sustainable finance landscape.
🔗 Provenance — このレコードを発見したソース
- openalex https://academicinspired.com/ijafb/article/view/4705first seen 2026-10-31 05:07:57 · last seen 2026-11-06 05:01:08
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