Earnings Quality and Corporate ESG Performance: Evidence from Mandatory Environmental Disclosure Policies
利益品質と企業のESGパフォーマンス：強制的環境開示政策からのエビデンス (AI 翻訳)
Taihao Cao, Bangjie Lin, Zimin Wang
🤖 gxceed AI 要約
日本語
本論文は、強制的な環境開示政策が企業の利益品質とESGパフォーマンスに与える影響を実証的に分析。高い利益品質を持つ企業は、開示義務化後に特に環境影響の大きい業種でESGパフォーマンスが向上することを示す。データ操作リスクやコンプライアンスコストなどの課題と、規制執行や投資家圧力などの促進要因を検討し、政策効果とガバナンスの役割を明らかにする。
English
This paper empirically examines how mandatory environmental disclosure policies affect earnings quality and ESG performance. Firms with higher earnings quality show stronger ESG outcomes post-mandate, especially in high-impact industries. It analyzes challenges like data manipulation and compliance costs, and enablers such as regulatory enforcement and investor pressure, highlighting governance's role in policy effectiveness.
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
日本ではSSBJ基準の適用が迫る中、強制開示が利益品質やESGパフォーマンスに与える影響を実証した本論文は、有報や統合報告書での開示実務や投資家対応に示唆を与える。特に、開示義務化後の企業行動変化を理解する上で有用。
In the global GX context
This paper contributes to the global debate on mandatory ESG disclosure, relevant to ISSB, CSRD, and SEC climate rules. It provides empirical evidence on how disclosure mandates interact with financial reporting quality, offering insights for regulators designing effective frameworks and for firms managing compliance risks.
👥 読者別の含意
🔬研究者:Provides empirical evidence on the causal link between mandatory disclosure and earnings quality/ESG performance, with a conceptual framework for future studies.
🏢実務担当者:Highlights the importance of earnings quality for ESG outcomes under mandatory disclosure, guiding corporate reporting strategies and internal controls.
🏛政策担当者:Offers evidence on policy effectiveness and trade-offs, informing the design of balanced disclosure regulations that promote transparency without undermining financial integrity.
📄 Abstract（原文）
The interplay between earnings quality and corporate Environmental, Social, and Governance (ESG) performance has garnered increasing attention in the context of sustainable finance. This paper investigates how mandatory environmental disclosure policies influence earnings quality and ESG outcomes in corporations. Drawing on empirical evidence from global markets, we analyze the mechanisms through which enhanced transparency in environmental reporting affects financial reporting integrity and broader ESG metrics. Challenges such as data manipulation risks, compliance costs, and cultural resistance are examined, alongside enablers like regulatory enforcement, investor pressure, and technological advancements. We propose a conceptual framework that integrates these elements with organizational readiness for disclosure mandates. Our findings suggest that firms with higher earnings quality exhibit stronger ESG performance post-mandate implementation, particularly in industries with high environmental impact. This study contributes to the literature by providing insights into policy effectiveness, highlighting the role of governance in mitigating risks, and offering recommendations for regulators and corporate leaders to foster sustainable practices without compromising financial transparency. The implications are relevant for both developed and emerging markets, emphasizing the need for balanced regulatory frameworks that promote accountability while supporting innovation in ESG reporting. Furthermore, we discuss the longterm effects on firm valuation and stakeholder trust, underscoring the transformative potential of these policies in aligning corporate strategies with global sustainability goals.
🔗 Provenance — このレコードを発見したソース
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。