グリーンファイナンス、コーポレートガバナンスと財務パフォーマンス：パキスタン証券取引所上場銀行の企業価値と収益性への影響分析

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🔬研究者:新興国銀行セクターにおけるグリーンファイナンスとガバナンスの財務効果に関するパネル実証の一例として参照できる。

🏢実務担当者:サステナブルファイナンスとガバナンス強化が銀行の収益・企業価値と正相関することを示す経営判断の傍証になる。

🏛政策担当者:新興国におけるグリーンファイナンス促進策と銀行ガバナンス規制の設計を検討する際の参考事例となる。

The present study aimed to analyse the impact of green finance and corporate governance on the financial performance, company value, and profitability of banks listed on the Pakistan Stock Exchange (PSX). The quantitative explanatory research design was used, and secondary panel data were analysed using 20 annual reports of 20 commercial banks (120 firm-years). Green finance and corporate governance were selected as independent variables, and financial performance, company value, and profitability were selected as dependent variables. The data were analysed using descriptive statistics, Pearson correlation analysis, and panel regression analysis in Stata. Descriptive results showed mean values of 3.68, 3.81, 1.76, 13.94, and 1.42 for green finance, corporate governance, return on assets, return on equity, and Tobin's Q, respectively. All variables showed significant positive correlations with each other, ranging from 0.521 to 0.741 (p < 0.01). The results of the panel regression analysis show that green finance (β = 0.298, p = 0.000; β = 0.316, p = 0.000; β = 0.271, p = 0.000, respectively) has a significant effect on improvements in financial performance, profitability, and company value. Corporate governance also exerted significant positive effects on financial performance (β = 0.347, p = 0.000), profitability (β = 0.281, p = 0.000), and company value (β = 0.391, p = 0.000). The results indicate that sustainable financial practices, combined with good corporate governance, enhance the long-term financial performance and value of organisations in Pakistan's banking sector. References Adu, D. A. (2022). Sustainable banking initiatives, environmental disclosure and financial performance: The moderating impact of corporate governance mechanisms. Business Strategy and the Environment, 31(5), 2365–2399. https://doi.org/10.1002/bse.3033 Alam, M. S., Atif, M., Chien-Chi, C., & Soytas, U. (2022). 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