Investigating the Relationship Between ESG Disclosure Performance and Audit Fees in the Presence of Institutional Ownership: Evidence from Malaysian Listed Firms
機関投資家の存在下におけるESG開示パフォーマンスと監査報酬の関係の調査：マレーシア上場企業からの証拠 (AI 翻訳)
Yenyen Yip
🤖 gxceed AI 要約
日本語
本研究は、マレーシア上場企業49社の2012年から2020年のパネルデータを用いて、ESG開示パフォーマンスが監査報酬に与える影響と、機関投資家の所有がその関係をどう調整するかを分析。結果、ESG開示の高い企業は監査報酬も高く、機関投資家の存在がその正の関係を強化することを示した。監査人はESG開示をリスク増加と捉えている。
English
This study examines the relationship between ESG disclosure performance and audit fees in Malaysian listed firms, and whether institutional ownership moderates it. Using 323 firm-year observations from 49 firms (2012-2020), it finds a positive relationship, strengthened by institutional ownership, indicating auditors perceive ESG disclosures as increasing audit complexity and risk. The study identifies institutional ownership as a key moderator resolving mixed prior findings.
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
マレーシア市場の証拠ではあるが、日本企業のESG開示保証と監査報酬の関係を考察する上で示唆に富む。特に、機関投資家のモニタリング機能が監査の深度に影響する点は、日本のESG開示制度設計にも参考となる。
In the global GX context
This paper provides evidence from an emerging market on how institutional ownership influences the association between ESG disclosure and audit fees. It contributes to the global discourse on ESG assurance and the role of auditors in sustainability reporting, relevant for standard-setters like ISSB considering assurance requirements.
👥 読者別の含意
🔬研究者:Useful for scholars studying audit fee determinants and the moderating role of institutional investors in ESG disclosure contexts.
🏢実務担当者:Corporate sustainability teams can anticipate higher audit costs when expanding ESG disclosures, especially if institutional investors are active.
🏛政策担当者:Regulators can use these findings to design ESG verification frameworks and understand market dynamics in audit pricing.
📄 Abstract（原文）
Based on the Malaysian market, this study investigates the connection between ESG (environmental, social, and governance) disclosure performance and audit fees and examines whether institutional ownership moderates this relationship. The sample of this study comprises 323 firm-year observations collected from 49 Malaysian publicly listed companies covering 2012 to 2020. Panel data regression is employed to test the hypotheses. The findings indicate a significant positive relationship between ESG disclosure performance and audit fees, suggesting that auditors perceive ESG reporting as increasing audit complexity and risk. Further, institutional ownership strengthens this positive relationship, indicating that sophisticated investors’ monitoring roles lead to more thorough auditing of ESG disclosures. Our primary contribution is resolving mixed findings in prior literature by identifying institutional ownership as a key moderating variable. The findings offer critical insights for Malaysian regulators in designing the ESG verification framework and help companies and investors better understand audit cost drivers. This study highlights the real-world impact of institutional shareholders on corporate governance and raises market awareness of how auditors respond to sustainability disclosures.
🔗 Provenance — このレコードを発見したソース
- openaire https://doi.org/10.3390/jrfm18120688first seen 2026-05-14 22:15:57
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