IHE IMPACT OF ESG FACTORS ON INVESTMENT STRATEGY FORMATION AND SECURITIES TRADING IN THE CONTEXT OF SUSTAINABLE FINANCE FOR UKRAINIAN ENTERPRISES
ESG要因がウクライナ企業のサステナブルファイナンスにおける投資戦略形成と証券取引に与える影響 (AI 翻訳)
U. Andrusiv, Olena Stoliarenko, H. Kupalova, Nataliia Honcharenko, Liliya R. Marynchak, Y. Chuchuk
🤖 gxceed AI 要約
日本語
本論文は、ウクライナ企業のサステナブルファイナンスにおけるESG要因の影響を分析。株式市場の現状調査から、ESG戦略を公表する企業は取引量の5％未満、グリーンボンド発行は社債全体の0.3％に留まるなど、世界との格差が明らかになった。主な障壁として、規制枠組みの不備、情報非対称性、市場流動性の低さなどが特定され、情報分析コンポーネントは最低評価（3.2/10点）だった。50社の調査では68％がESG統合が長期的価値にプラスと回答し、エネルギー・通信セクターが先行。ESG実践と資産利益率の正の相関も確認された。
English
This paper examines the impact of ESG factors on investment strategy and securities trading in Ukraine's context of sustainable finance. It finds that less than 5% of trading volume involves companies with public ESG strategies, and green bond issuance is under 0.3% of total corporate bonds. Key barriers include inadequate regulation, information asymmetry, and low liquidity. A survey of 50 companies shows 68% believe ESG integration positively affects long-term value. Correlation analysis reveals a positive relationship between ESG practices and return on assets. The paper offers practical recommendations for regulators, exchanges, and investors.
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
ウクライナ市場におけるESG投資の障壁分析は、新興市場でのESG統合の課題を理解する上で参考になる。日本企業が東欧など新興国に進出する際の示唆も含むが、日本国内のGX実務への直接的な示唆は限定的。
In the global GX context
This paper provides valuable empirical evidence on ESG integration challenges in an emerging European market, contributing to global literature on sustainable finance in transitional economies. Its findings on regulatory gaps and market infrastructure can inform similar efforts in other emerging markets and add to the comparative understanding of ESG adoption barriers.
👥 読者別の含意
🔬研究者:Useful for comparative studies on ESG integration in emerging markets.
🏢実務担当者:Provides actionable recommendations for companies and investors operating in Ukraine.
🏛政策担当者:Highlights regulatory and infrastructure gaps for Ukrainian policymakers to address.
📄 Abstract（原文）
This article examines the impact of ESG factors on investment strategy formation and securities trading in the context of sustainable finance for Ukrainian enterprises. The current state of sustainable finance instruments development in Ukraine's stock market has been analyzed, revealing a significant lag behind global trends: the share of securities from companies with public ESG strategies accounts for less than 5% of total trading volume, while green bond issuance does not exceed 0.3% of total corporate bond emissions. Based on empirical data, the main barriers to ESG investing development in Ukraine have been identified: inadequate regulatory framework, information asymmetry, limited stock market liquidity, insufficient market participants' awareness, and weak development of specialized infrastructure.An assessment of Ukraine's stock market infrastructure readiness for responsible investing principles implementation was conducted across five key components, revealing the highest level of readiness in the trading component (6.8 out of 10 points) and the lowest in the information-analytical component (3.2 points). A survey of 50 public companies established growing awareness of the importance of ESG factors: 68% of respondents believe that ESG criteria integration will positively affect company value in the long term.Industry-specific implementation of ESG practices in Ukraine was identified, with the energy sector and telecommunications leading, while the lowest integration level is observed in the real estate and retail sectors. Correlation analysis confirmed a positive relationship between the level of ESG practices and company return on assets. Based on the conducted research, a comprehensive set of practical recommendations for market regulators, stock exchanges, institutional investors, and issuers regarding ESG criteria integration into domestic stock market functioning has been developed.
🔗 Provenance — このレコードを発見したソース
- semanticscholar https://doi.org/10.55643/fcaptp.1.66.2026.4954first seen 2026-05-06 00:27:42
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