ESG Factors in Company Valuation: A Comparative Study of Islamic and Non-Islamic Banks

企業評価におけるESG要因：イスラム銀行と非イスラム銀行の比較研究 (AI 翻訳)

Maha Fahad, Mariam Abdulla, Shamma Albreiki, Meera Alraeesi, Gerasimos Lianos

SSRN Electronic Journalプレプリント2026-01-01#ESG

原典: https://doi.org/10.2139/ssrn.6168048

🤖 gxceed AI 要約

日本語

この研究は、ESG要因がイスラム銀行と非イスラム銀行の評価に与える影響を比較した。40行のデータ分析の結果、ESGスコアは類似していたが、非イスラム銀行の開示が優れていた。イスラム銀行は収益性が高い一方、ESGと評価の関連は弱く、開示強化が提言されている。

English

This study compares the impact of ESG factors on the valuation of Islamic and non-Islamic banks using data from 40 banks. Findings show similar ESG scores but non-Islamic banks have better disclosure. Islamic banks are more profitable but ESG has little effect on their valuation, highlighting the need for improved ESG disclosure in Islamic banking.

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

本論文はESG開示の質が企業評価に与える影響を実証しており、日本の有報・統合報告書における非財務情報開示の改善に示唆を与える。イスラム銀行の開示不足は、日本企業にも通じる課題である。

In the global GX context

This study provides empirical evidence on how ESG disclosure quality affects bank valuation, relevant to global frameworks like ISSB and TCFD. It underscores the need for consistent ESG reporting across different institutional contexts to reflect true sustainability performance.

👥 読者別の含意

🔬研究者:Researchers in sustainable finance can use this comparative approach to study ESG-valuation links across different banking models and regulatory environments.

🏢実務担当者:Corporate sustainability teams in banks can leverage these findings to strengthen ESG disclosure and demonstrate value to investors.

🏛政策担当者:Regulators in emerging markets may consider these results when designing ESG disclosure mandates to enhance market transparency.

📄 Abstract（原文）

This research examines how non-financial Environmental, Social, and Governance (ESG) variables influence the valuation of Islamic and non-Islamic banks and how it is comparably addressed in Abu Dhabi Islamic Bank (ADIB) and other key institutions in the region. Even though the traditional models of valuation use financial indicators like P/E, P/B, ROA, and ROE, there is increasing evidence that ESG performance is a major determiner of long-term risk, investor confidence, and sustainable growth.&nbsp;The current study examines ESG scores, and financial data of 40 banks (20 Islamic and 20 non-Islamic) obtained through MSCI, Refinitiv and Bloomberg and annual reports through a quantitative positivist approach. Findings reveal that the mean ESG score of the two banking categories is similar, but the non-Islamic banks have higher Refinitiv ratings because they have better disclosure practices. Islamic banks are more profitable, as they have higher ROA, ROE, whereas non-Islamic banks have greater market capitalization and better ESG profitability relations.&nbsp;According to correlation analysis, there is very little effect of ESG improvements on the Islamic bank valuation and very high effects on the financial performance metrics in non-Islamic banks. The research finds that stronger ESG reporting is needed in Islamic banks to reflect the actual value of sustainability in these banks, and that non-Islamic banks need to reinforce the connection between ESG activities and shareholder value. The recommendations are aimed at enhancing standards of disclosure, implementing ESG into financial decision making, and enhancing sustainable finance programs.

🔗 Provenance — このレコードを発見したソース

openaire https://doi.org/10.2139/ssrn.6168048first seen 2026-05-14 22:25:11

🔔 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。