The Impact Of Corporate Governance On Environmental And Social Scores Of Public Firms, Based On The Data From East African Community (Eac)
東アフリカ共同体（EAC）の公開企業におけるコーポレート・ガバナンスが環境・社会スコアに与える影響 (AI 翻訳)
North American Academic Research
🤖 gxceed AI 要約
日本語
東アフリカ共同体（EAC）の公開企業を対象に、コーポレートガバナンスが環境・社会（E&S）スコアに与える影響を分析。取締役会の独立性や女性比率、サステナビリティ委員会の設置がスコア向上に寄与する一方、CEOの二重性や集中所有は負の効果を持つ。ケニアとルワンダでの規制改革が効果を強めており、ESG開示義務化の重要性を示唆。
English
This paper examines how corporate governance affects environmental and social (E&S) scores of listed firms in the East African Community (EAC) using panel data from 2015-2024. Findings show board independence, gender diversity, and sustainability committees positively impact E&S scores, while CEO duality and concentrated ownership have negative effects. The impact is stronger in Kenya and Rwanda where mandatory ESG disclosure rules were implemented, highlighting the role of regulation in frontier markets.
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
東アフリカの知見ではあるが、日本のESG開示（有報・統合報告書）の実務において、ガバナンス構造がスコアに与える影響を示す点で参考になる。特に、サステナビリティ委員会の設置効果は日本企業の取締役会改革にも示唆を与える。
In the global GX context
This paper contributes to the global understanding of how governance mechanisms drive ESG performance in emerging markets, relevant for international frameworks like ISSB and CSRD. It provides empirical evidence from a region often overlooked, showing that regulatory push (mandatory ESG disclosure) amplifies governance effects.
👥 読者別の含意
🔬研究者:Adds evidence on governance-ESG link in frontier markets, useful for comparative studies.
🏢実務担当者:Highlights governance levers (board independence, diversity) that can improve ESG scores in emerging market subsidiaries.
🏛政策担当者:Supports the case for mandatory ESG disclosure regulations as catalysts for corporate sustainability improvements.
📄 Abstract（原文）
This paper is research based on the impact of corporate governance on the environmental and social (E&S) scores of publicly listed companies in the East African Community (EAC). The study runs the fixed-effects and system GMM estimations using a panel data set of firms in Kenya, Tanzania, Uganda, and Rwanda, 2015-2024 to investigate the effect of board composition, ownership structure, and leadership structure on the environmental and social score provided by ESG rating providers. The findings show that independence of boards, gender board diversity, and the presence of sustainability committees are positively and significantly correlated with better E&S scores whereas CEO duality and concentrated ownership are negatively correlated. Sub sample results indicate that there are stronger governance impacts in Kenya and Rwanda, where regulatory reforms have implemented mandatory ESG rules and in environmentally sensitive sectors such as energy and utilities, where the visibility of stakeholders is greater. Event-studies support the claim that the implementation of ESG disclosure rules in Kenya (2021) and Rwanda (2024) induced identifiable shifts in sustainability performance, especially in the case of well-managed companies. The consistency of the results is checked by robustness checks on several ESG data providers. The findings add to the body of corporate governance and sustainability literature by illustrating that governance structures are key levers to pursue environmental and social responsibility in frontier markets. The policy recommendations are that the regulators of EAC need to intensify the codes of governance, to align ESG reporting frameworks and to protect minority investors in order to make corporate operations in the region more sustainable.
🔗 Provenance — このレコードを発見したソース
- openaire https://doi.org/10.5281/zenodo.17235895first seen 2026-05-05 19:08:43
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