The Evaluation of the Relationship between the Companies Sustainability Reporting and Their Financial Performance
企業のサステナビリティ報告と財務パフォーマンスの関係の評価 (AI 翻訳)
Socoliuc, Mihaela Ionela, Ionescu, Bogdan-Ştefan, Guinea, Flavius Andrei, Socoliuc, Marian, Grosu, Veronica, Hlaciuc, Elena
🤖 gxceed AI 要約
日本語
ブカレスト証券取引所上場企業67社を対象に、ESG開示スコアと財務パフォーマンスの関係を分析。ESG開示の向上はEPSの改善につながるが、市場価値への有意な影響は見られなかった。投資家は持続可能性を統合した企業を将来のリスクに備えたものと認識し、資金をシフトさせる傾向がある。
English
This study analyzes the relationship between ESG disclosure scores and financial performance for 67 companies listed on the Bucharest Stock Exchange (2020-2022). Results show that higher ESG disclosure improves earnings per share but does not significantly impact market value. Investors perceive sustainability-integrated firms as better prepared for future risks, redirecting funds toward sustainable investments.
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
ルーマニア市場の事例だが、日本企業のESG開示と財務パフォーマンスの関係を検証する際の比較対象として有用。特に、有報や統合報告書でのESG情報開示の効果を測る参考になる。
In the global GX context
This paper provides empirical evidence from an emerging European market on the ESG-financial performance link, contributing to the global debate on the materiality of sustainability disclosure. It supports the business case for ESG reporting, relevant for ISSB and CSRD implementation.
👥 読者別の含意
🔬研究者:Provides empirical evidence on ESG disclosure and financial performance in an emerging market context.
🏢実務担当者:Demonstrates that improved ESG disclosure can enhance earnings per share, supporting the business case for sustainability reporting.
🏛政策担当者:Offers insights for regulators in emerging markets on the potential financial benefits of mandatory ESG disclosure.
📄 Abstract（原文）
The purpose of the present research is to assess the impact of ESG reporting on the financial performance of the companies listed on the Bucharest Stock Exchange (BVB). The research methodology has been based both on a qualitative approach used in the analysis of the specialised literature and on the formulation of the research hypotheses and on a statistical analysis, respectively. The primary financial information found in the financial reports of 67 companies listed on the BVB for the period 2020-2022 has been used to determine the financial performance indicators. The ESG information that has been extracted from the sustainability reports, the administrators’ reports, or from the companies' websites has been subjected to scoring procedures in order to design an aggregate ESG disclosure score. Both data sets have been manually collected and statistically processed by using the financial and economic profitability ratios, the earnings per share, and the market added value as dependent variables, whereas the aggregate ESG disclosure score has been used as the independent variable. The findings have shown that an increase in the ESG disclosure of ESGs will lead to an improvement in terms of economic and financial performance. A higher ESG disclosure index score results in higher earnings per share. However, it does not have a significant impact on the increase in the company's market value. Therefore, companies that have integrated sustainability into their business strategy and communicated it effectively have been perceived by investors as better prepared for future risks and opportunities. This perception prompts investors to redirect their funds towards sustainable and socially responsible investments, which, in turn, will contribute to a superior financial performance for these companies
🔗 Provenance — このレコードを発見したソース
- openaire https://doi.org/10.24818/ea/2025/70/884first seen 2026-05-05 19:08:06
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