Saving Face or Sustainability? Face Culture and ESG Decoupling in China
面子を保つか、持続可能性か？中国におけるフェイス文化とESGデカップリング (AI 翻訳)
Kun Luo, Bo Qin, Daifei (Troy) Yao
🤖 gxceed AI 要約
日本語
本研究は、中国上場企業の地域のフェイス文化がESG開示と実績の乖離（ESGデカップリング）に与える影響を分析。14,981社年のデータを用い、フェイス文化の強い地域ほどESGデカップリングが大きいことを発見。情報非対称性や経営者の短期志向がこの効果を強化する。デカップリングは将来のESG論争を予測し、フェイス文化がリスクを増幅する。
English
This study examines how regional face culture influences ESG decoupling—the gap between ESG disclosure and performance—using 14,981 firm-year observations from Chinese listed firms. It finds that firms in stronger face-culture regions exhibit greater decoupling, especially under high information asymmetry and short-term managerial focus. Decoupling predicts future ESG controversies, and face culture amplifies these risks.
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
本研究は、中国事業や中国企業との取引がある日本企業にとって、ESGデカップリングの文化的要因を理解する示唆を与える。強いフェイス文化地域での象徴的なESG報告リスクは、SSBJに準拠した開示実務やクロスボーダー投資のデューデリジェンスに役立つ。
In the global GX context
This paper contributes to global ESG scholarship by demonstrating how cultural norms like face culture can drive ESG decoupling, a critical issue for investors and standard-setters (e.g., ISSB, SEC). It underscores the need to consider local cultural contexts when assessing corporate ESG credibility and designing disclosure standards.
👥 読者別の含意
🔬研究者:Researchers studying ESG decoupling or greenwashing should consider cultural dimensions beyond traditional firm-level drivers.
🏢実務担当者:Corporate sustainability teams can use these findings to design more authentic ESG strategies that withstand scrutiny in culturally diverse markets.
🏛政策担当者:Policymakers should be aware that disclosure regulations alone may not prevent symbolic compliance in cultures where face-saving is paramount; enforcement and verification mechanisms are crucial.
📄 Abstract（原文）
This study examines how regional face culture influences firms’ environmental, social, and governance (ESG) decoupling—the gap between ESG disclosure and actual performance. We argue that face culture, centered on dignity and avoidance of embarrassment, motivates firms to use ESG reporting as symbolic impression management. Using 14,981 firm-year observations from Chinese listed firms during 2011–2022, we measure ESG decoupling as the difference between disclosure-based ESGtalk (Bloomberg) and incident-based ESGwalk (RepRisk), addressing limitations of prior research that relies on self-reported metrics. We construct a culturally grounded face-culture measure from visible rural consumption and validate it using factor analysis, persistence tests, and a historical proxy. Firms in stronger face-culture regions exhibit significantly greater ESG decoupling, particularly when information asymmetry is high, managers are short-term oriented, or local social capital is weak. Decoupling predicts more severe ESG controversies, and face culture amplifies these risks. Robustness tests support our conclusions.
🔗 Provenance — このレコードを発見したソース
- openaire https://doi.org/10.2139/ssrn.6467380first seen 2026-05-14 22:12:26
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