Enhancing Investor Trust Through Sustainable Finance: The Moderating Effects of Regulatory Quality and Economic Policy Uncertainty Among Non-Financial Institutions Listed on the London Stock Exchange
持続可能なファイナンスを通じた投資家信頼の向上：ロンドン証券取引所上場の非金融機関における規制の質と経済政策不確実性の調整効果 (AI 翻訳)
Jeneba Joy Tucker, M. Bein, B. Gyamfi, Richard Arhinful
🤖 gxceed AI 要約
日本語
本研究は、ロンドン証券取引所に上場する非金融機関334社の2007～2023年のデータを用いて、持続可能なファイナンス（排出削減政策、環境支出、グリーンボンド発行）が投資家信頼に与える影響を分析。規制の質が排出削減政策と投資家信頼の関係を強化する調整効果を持つことを明らかにした。企業は環境実践を強化し、その取り組みを投資家に明確に伝えることが重要である。
English
This study examines the impact of sustainable finance (emission reduction policies, environmental expenditures, green bond issuances) on investor trust using 17 years of data from 334 non-financial firms listed on the London Stock Exchange. It finds positive and significant effects, with regulatory quality moderating the relationship between emission reduction policies and trust. Firms are encouraged to strengthen environmental practices and communicate them to 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
英国の事例であるが、規制の質が環境施策と投資家信頼の関係を強化するという知見は、日本でもSSBJや有報での非財務情報開示の充実を検討する上で示唆に富む。特に、規制の質が投資家の信頼を高めるメカニズムは、日本のGX政策にも応用可能。
In the global GX context
This paper provides robust empirical evidence on how sustainable finance practices can enhance investor trust, highlighting the moderating role of regulatory quality. It offers valuable insights for global disclosure frameworks like ISSB and CSRD, especially regarding the interaction between corporate environmental actions and regulatory environment.
👥 読者別の含意
🔬研究者:Useful for researchers studying the real effects of sustainable finance on investor behavior and the role of regulatory quality as a moderator.
🏢実務担当者:Corporate sustainability teams can leverage findings to justify investments in emission reduction and green bonds as means to build investor trust.
🏛政策担当者:Regulators should note that high regulatory quality amplifies the positive impact of corporate emission reduction policies on investor trust, supporting strong disclosure requirements.
📄 Abstract（原文）
The regulatory framework in the United Kingdom plays a vital role in promoting investor trust and transparency by mandating that enterprises disclose their social and environmental impacts. This makes the UK an appropriate setting for this study. This research examined how sustainable finance influences investor trust in the London Stock Exchange. The study employed purposive sampling along with specified inclusion and exclusion criteria to assess 17 years of data (2007–2023) from 334 non-financial institutions obtained from Thomson Reuters Eikon DataStream. To mitigate cross-sectional dependence and endogeneity concerns in the data, several estimation methods were used, including the Common Correlated Effects Mean Group (CCEMG), fixed effects with Driscoll-Kraay standard errors, and the Generalized Method of Moments (GMM). The findings revealed that corporate emission reduction policies, environmental expenditures, and green bond issuances had a positive and significant impact on investor trust. Additionally, the moderating effect of regulatory quality on emission reduction policies further enhanced investor trust. Based on these findings, companies are encouraged to strengthen their environmental practices by implementing robust emission reduction policies, increasing environmental investments, and issuing green bonds to support sustainable projects. These efforts should be clearly communicated to investors to highlight the company’s commitment to sustainability and corporate responsibility.
🔗 Provenance — このレコードを発見したソース
- semanticscholar https://doi.org/10.3390/su18115700first seen 2026-06-08 05:18:49
🔔 こうした論文の新着を逃したくない方は キーワードアラート に登録（無料・3キーワードまで）。
gxceed は公開メタデータに基づく研究支援データセットです。要約・翻訳・解説は AI 支援で生成されています。 最終的な解釈・検証は利用者が原典資料に基づいて行うことを前提とします。