Size-based and sectoral dynamics of ESG performance: a panel data analysis
企業規模とセクター別のESGパフォーマンスのダイナミクス：パネルデータ分析 (AI 翻訳)
Divya Gogia, Nirmaljeet Virk, Anumeha Mathur
🤖 gxceed AI 要約
日本語
本研究は、2018年から2022年までのインド上場企業262社を対象に、企業規模と産業タイプがESGパフォーマンスに与える影響を分析。大企業ほど資源とステークホルダーへの可視性が高いためESGパフォーマンスが優れており、サービス業は製造業より環境影響が小さく透明性が高いため良好。SEBIのBRSRフレームワーク導入後、セクター間格差が縮小したことを示す。
English
This study analyzes the impact of firm size and industry type on ESG performance of 262 Indian listed firms from 2018 to 2022. It finds that larger firms and service-sector firms have better ESG scores, and that the sectoral gap narrows after the adoption of SEBI's BRSR framework.
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
インドのBRSRフレームワークは日本のSSBJに相当する規制であり、日本企業がインド市場でのESG対応を考える上で示唆がある。ただし、日本のGX文脈では直接関係は薄い。
In the global GX context
The paper examines the impact of India's BRSR framework on ESG performance, offering a comparison for global disclosure regimes like CSRD. However, its focus is on ESG broadly, not specifically on climate/GX.
👥 読者別の含意
🔬研究者:For researchers, the study provides methodological insights using PCSE regression for ESG panel data and extends legitimacy theory to an emerging-market context.
🏢実務担当者:Practitioners can learn how firm size and sector affect ESG scores under a mandatory disclosure regime like BRSR.
🏛政策担当者:Policymakers can observe the mediating role of regulation (BRSR) in narrowing sectoral ESG gaps.
📄 Abstract（原文）
The paper examines the impact of firm size and industry type on Environmental, Social and Governance (ESG) performance of 262 listed Indian companies between 2018 and 2022, with a specific focus on an emerging-market context. Using Refinitiv ESG scores, the study employs Panel-Corrected Standard Errors (PCSE) regression to address heteroskedasticity, serial correlation, and cross-sectional dependence in longitudinal ESG data, thereby enhancing the robustness of empirical inference. The findings indicate that larger firms exhibit superior ESG performance due to greater resource availability and stakeholder visibility, while service-sector firms outperform manufacturing firms owing to lower environmental impact and higher transparency. However, the sectoral gap in ESG performance narrows following the adoption of SEBI’s Business Responsibility and Sustainability Reporting (BRSR) framework, highlighting the mediating role of regulatory intervention in shaping corporate sustainability behavior. The study contributes to ESG literature by combining methodological rigor through PCSE estimation with institutional analysis of the Indian regulatory environment, and by extending legitimacy theory to explain how firm characteristics and regulatory mandates jointly influence ESG performance in an emerging economy. The findings offer valuable insights for regulators, managers, and investors seeking to strengthen sustainable corporate governance amid evolving disclosure regimes.
🔗 Provenance — このレコードを発見したソース
- openaire https://doi.org/10.1080/23311975.2026.2619214first seen 2026-05-14 22:22:44
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