The impact of corporate sustainability performance on capital structure: A literature review
企業のサステナビリティパフォーマンスが資本構成に与える影響：文献レビュー (AI 翻訳)
Kotryna Garmutė
🤖 gxceed AI 要約
日本語
本レビュー論文は、企業のサステナビリティ（ESG）パフォーマンスが資本構成に与える影響を分析。高いESG開示は資本コストの低下と財務レバレッジの低下と関連することが示された。影響はセクター・地域・企業規模によって異なる。
English
This literature review analyzes how corporate sustainability (ESG) performance influences capital structure. Higher ESG disclosure is associated with lower cost of capital and lower financial leverage. The impact varies by sector, region, and 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
日本の文脈では、ESGと資本構成の関係は、SSBJ開示や機関投資家の要求に応える上で重要。ESGパフォーマンスが良好な企業は資金調達面で有利になる可能性がある。
In the global GX context
Globally, this review contributes to understanding how ESG integration affects corporate financing decisions, relevant for TCFD, ISSB, and transition finance frameworks.
👥 読者別の含意
🔬研究者:Useful for understanding the state of the art on ESG-capital structure link and identifying gaps for empirical research.
🏢実務担当者:Insights for CFOs on how ESG performance can lower cost of capital and improve financing conditions.
🏛政策担当者:Highlights the role of ESG in financial stability and efficient capital allocation, informing disclosure mandates.
📄 Abstract（原文）
The aim of this article is to analyse the impact of corporate sustainability performance on capital structure, based on a review of recent literature and empirical studies. The article discusses how environmental, social and governance (ESG) factors influence corporate financial decisions, particularly the debt-to-equity ratio. Research shows that higher levels of ESG disclosure often led to lower cost of capital, lower financial leverage and greater investor confidence. ESG performance is becoming an indicator not only of reputation but also of financial efficiency, as transparency and responsible performance reduce risk and improve access to finance. The article highlights that the impact of sustainability factors on capital structure depends on the sector, region and size of the company, therefore it is important to assess these aspects in a contextual way. The article concludes that sustainable performance and ESG integration are becoming a cornerstone in shaping a modern, resilient and competitive capital structure.
🔗 Provenance — このレコードを発見したソース
- semanticscholar https://doi.org/10.63775/70n0e609first seen 2026-06-12 06:05:06
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