The Effect and Policy Implications of Climate Disclosure Intensity Index on Chinese Firmsʼ Productivity
気候情報開示強度指数が中国企業の生産性に与える影響と政策的含意 (AI 翻訳)
Liyu Long, Zhi Wang, Yuan Jiang
🤖 gxceed AI 要約
日本語
本研究は中国A株上場企業の2010～2023年のデータを用い、テキスト分析で気候情報開示強度指数を構築。開示強度が企業の全要素生産性（TFP）を有意に向上させることを発見。その経路としてグリーンイノベーションの促進と投資効率の改善を特定。市場・産業・企業レベルの異質性分析では、開示強度が他社の生産性に負の波及効果を持つことも示された。
English
Using Chinese A-share listed firms from 2010-2023, this study constructs a climate disclosure intensity index via textual analysis. It finds that higher disclosure intensity significantly increases firms' total factor productivity (TFP) through promoting green innovation and improving investment efficiency. Heterogeneity analysis reveals negative spillovers on other firms' productivity. The findings provide empirical support for refining sustainable disclosure policies.
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
日本のGX文脈では、中国企業の気候開示と生産性の関係を実証した点が参考になる。日本企業の開示の経済的効果を検証する際の比較対象や、開示政策設計への示唆として有用。
In the global GX context
This paper contributes to global disclosure scholarship by providing empirical evidence from China on the productivity benefits of climate disclosure. It supports the business case for disclosure frameworks like ISSB and TCFD, and highlights potential negative spillovers, relevant for designing disclosure policies worldwide.
👥 読者別の含意
🔬研究者:Provides robust empirical evidence on the causal effect of climate disclosure on firm productivity, with mechanisms of green innovation and investment efficiency, useful for future research on disclosure and firm performance.
🏢実務担当者:Demonstrates that climate disclosure can enhance firm productivity, encouraging companies to invest in transparent climate reporting as a strategic tool.
🏛政策担当者:Offers policy implications for designing climate disclosure regulations that balance positive firm-level effects with potential negative spillovers on competitors.
📄 Abstract（原文）
ABSTRACT Addressing climate change has become the high‐profile international issue. This paper focuses on Chinese A‐share listed firms from 2010 to 2023, adopts computerised textual analysis to construct corporate climate disclosure intensity index, and verifies their validity in various aspects. It is found that, first, corporate climate disclosure intensity index can significantly increase companiesʼ total factor productivity (TFP); this conclusion has been validated through numerous robustness tests. Second, corporate climate disclosure intensity index promotes green innovation and improves investment efficiency, thereby increasing TFP. Through further analysis of heterogeneity at the market‐, industry‐, and firm‐levels it is found that corporate climate disclosure intensity index has negative spillovers on the productivity of other firms. This study offers empirical evidence to support the refined design of sustainable development disclosure policies.
🔗 Provenance — このレコードを発見したソース
- crossref https://doi.org/10.1002/app5.70085first seen 2026-06-02 05:25:30 · last seen 2026-06-03 05:56:10
🔔 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。