← 論文一覧に戻る

持続可能な未来のためのガバナンス：GCC上場企業における役員報酬と取締役会の独立性がESG開示に与える影響の分位点証拠

Governing for a Sustainable Future: Quantile Evidence on the Role of Executive Compensation and Board Independence in ESG Disclosure Across GCC ‐Listed Firms (原題)

Waleed S. Alruwaili, Ousama Ben‐Salha

Sustainable Development📚 査読済 / ジャーナル2026-08-25#ESGOrigin: Global対象セクター: cross_sector
DOI: 10.1002/sd.71547
原典: https://doi.org/10.1002/sd.71547

🤖 gxceed AI 要約

日本語

本研究は、2017～2023年のGCC上場企業834社を対象に、役員報酬と取締役会の独立性がESG開示に与える影響を分位点回帰で分析。役員報酬はESG開示全体に正の影響を与えるが、取締役会の独立性は低・中程度の開示企業でのみ有意。企業規模によって効果が異なることも示された。

English

This study examines the impact of executive compensation and board independence on ESG disclosure among 834 GCC-listed firms (2017-2023) using quantile regression. Executive compensation positively affects overall ESG disclosure, while board independence is significant only for firms with low-to-moderate disclosure. Effects vary by firm size.

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開示が始まり、ガバナンスとESG開示の関連性への関心が高い。本研究の手法や知見は、日本企業の開示体制強化や取締役会の役割を考える上で参考になる。

In the global GX context

This study contributes to global ESG disclosure literature by providing evidence from the GCC region, an under-researched area. It offers insights into how governance mechanisms influence disclosure, relevant for investors and regulators worldwide.

👥 読者別の含意

🔬研究者:Quantile regression approach to ESG disclosure determinants, applicable to other regions.

🏢実務担当者:Insights on how board compensation and independence can enhance ESG disclosure, useful for corporate governance design.

🏛政策担当者:Evidence on governance factors that promote ESG transparency, informing regulatory frameworks.

📄 Abstract（原文）

ABSTRACT This study examines whether executive compensation and board independence influence ESG disclosure among 834 GCC‐listed firms during 2017–2023. It further investigates their effects on the environmental, social, and governance pillars individually and explores whether the strength and direction of the effects differ by firm size. The empirical analysis relies on a comprehensive framework of panel data techniques. Baseline estimates are obtained using pooled ordinary least squares and fixed effects models with Driscoll–Kraay standard errors, while the Method of Moments Quantile Regression (MM‐QR) is employed to uncover heterogeneous effects across the conditional distribution of ESG disclosure. Finally, potential endogeneity concerns are addressed using the System GMM estimator and MM‐QR with lagged explanatory variables. At the aggregate level, the MM‐QR results reveal a robust positive association between board compensation and ESG disclosure. Conversely, the effect of board independence is relatively weak and significant only for firms with low‐to‐moderate initial ESG disclosure. When considering the different ESG pillars, the analysis indicates a positive relationship between board compensation and the disclosure of all ESG pillars. Board independence demonstrates a more pronounced positive impact on governance disclosure. When disaggregating the sample by size, the results reveal that board compensation positively impacts ESG in large firms, while board independence has similar effects in small firms. These findings remain robust after accounting for potential endogeneity using the System GMM estimator and MM‐QR with lagged explanatory variables. Overall, the study provides valuable insights for GCC firms seeking to strengthen ESG disclosure and advance sustainable corporate practices.

🔗 Provenance — このレコードを発見したソース

🔔 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。