気候移行リスクの顕著性と報告されたグリーン・サプライチェーン管理実践の財務関連性：中国上場企業からの証拠

Unofficial AI-generated summary based on the public title and abstract. Not an official translation.

🔬研究者:開示されたGSCM実践と財務成果の関係が気候移行リスクの顕著性に条件づけられることを示す実証的枠組みを提供する。

🏢実務担当者:サプライチェーンGX施策の開示は、気候移行リスクを経営課題として明示するほど財務成果に結びつきやすい点を踏まえた報告設計が有用。

🏛政策担当者:サプライチェーン開示義務の設計において、移行リスクの顕著性を高める開示枠組みが企業行動と財務成果を結びつける可能性を示唆する。

The transition toward a low-carbon economy requires firms to extend sustainability considerations beyond their organizational boundaries and into supply chain operations. Yet the financial relevance of reported green supply chain management (GSCM) practice breadth may vary with the prominence of climate transition issues in corporate reporting. Drawing on the natural-resource-based view and the attention-based view, this study examines whether reported climate transition-risk salience (CTRS) conditions the association between reported GSCM practice breadth and subsequent accounting profitability. The analysis uses 26,132 firm-year observations from 4371 Chinese listed firms. A seven-item index of reported GSCM practice breadth and an annual-report-based measure of CTRS for 2016–2023 are linked to return on assets (ROA) in the following financial year. Firm- and outcome-year fixed-effects estimates provide qualified support for a positive average association. In the preferred controlled specification, a one-standard-deviation increase in reported GSCM practice breadth is associated with an approximately 0.17-percentage-point increase in subsequent ROA. This economically modest estimate remains sensitive to the control structure, particularly the inclusion of firm size. The moderating relationship is more consistent. The estimated association between reported GSCM practice breadth and subsequent ROA is statistically imprecise at low reported CTRS, reaches approximately 0.15 percentage points at mean salience, and increases to approximately 0.29 percentage points at the 90th percentile. The positive interaction remains stable across alternative GSCM and CTRS measures, environmental-reporting controls, temporal diagnostics, and additional fixed-effects specifications. In common-sample comparisons, the GSCM–CTRS interaction is more positive than the corresponding interactions with physical climate-risk exposure assigned according to firms’ registered provinces and cities. These comparisons remain subject to differences in risk content and measurement level. The findings identify reported climate transition-risk salience as a boundary condition for the association between reported GSCM practice breadth and subsequent profitability. This conditional perspective connects supply chain sustainability with the firm’s reported climate transition context while preserving the distinction between reported practice breadth and implementation quality.

• semanticscholar https://doi.org/10.3390/su181910094first seen 2026-10-06 05:42:38