The Impact of ESG Information Disclosure on Corporate Value: A Literature Review
ESG情報開示が企業価値に与える影響：文献レビュー (AI 翻訳)
Heng Lin
🤖 gxceed AI 要約
日本語
本レビューは、ESG情報開示と企業価値の関係を実証研究から整理し、正・負・無関係の3つの結果に分類。測定指標や制度の違いが結論の相違を生むと指摘し、情報非対称性の緩和、ステークホルダー協働、イノベーション促進の3つの経路を提示。将来の研究課題を提案する。
English
This review synthesizes empirical studies on ESG disclosure and corporate value, categorizing findings into positive, negative, and insignificant relationships. It identifies measurement and institutional differences as sources of conflicting results, and highlights three channels: information asymmetry relief, stakeholder collaboration, and innovation promotion. Proposes future research directions.
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開示義務化が進み、ESG情報開示の企業価値への影響は実務上重要。本レビューは、開示の経済的効果を整理し、日本企業の開示戦略や投資家対応に示唆を与える。
In the global GX context
Globally, with ISSB and CSRD expanding mandatory ESG disclosure, this review clarifies the value relevance of such disclosure, offering insights for companies and regulators on the economic consequences of disclosure.
👥 読者別の含意
🔬研究者:Provides a structured overview of conflicting findings and channels, useful for framing future empirical research.
🏢実務担当者:Helps corporate sustainability teams understand the potential value impact of ESG disclosure and justify disclosure efforts.
🏛政策担当者:Informs regulators about the mixed evidence on disclosure value, supporting evidence-based policy design.
📄 Abstract（原文）
In recent decades, with the global trend of improving ESG regulatory rules and expanding mandatory disclosure for listed firms, the value effect of ESG information disclosure has remained controversial in academia. Accordingly, it is necessary to review relevant literature to sort conflicting findings and clarify the actual economic impact of ESG disclosure. Focusing on the relationship between ESG information disclosure and corporate value, this paper reviews empirical studies conducted across different countries and institutional contexts. The reviewed literature is categorized into three results: positive relationship, negative relationship, and insignificant relationship. Conflicting conclusions are caused by diverse measurement indicators, sample features, inconsistent rating criteria, and institutional gaps. Three major influencing channels, including information asymmetry relief, stakeholder collaboration, and innovation promotion, are summarized, and obvious heterogeneity exists in firm ownership, region, and pollution type. Empirically, this paper points out existing research defects and proposes specific suggestions for future detailed empirical and cross-country research.
🔗 Provenance — このレコードを発見したソース
- openalex https://doi.org/10.54254/2754-1169/2026.35902first seen 2026-08-13 05:10:22
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