THE IMPACT OF ENVIRONMENTAL, SOCIAL AND GOVERNANCE (ESG) DISCLOSURE ON THE FINANCIAL PERFORMANCE OF COMMERCIAL BANKS: EMPIRICAL EVIDENCE IN ASEAN+3
環境・社会・ガバナンス（ESG）開示が商業銀行の財務業績に与える影響：ASEAN+3地域の実証分析 (AI 翻訳)
Nguyen Minh Hieu, Luong Dac Duc, Nguyen Tra Giang, Nguyen Hoang Vinh, Pham Tuan Anh
🤖 gxceed AI 要約
日本語
本論文は、2015〜2024年のASEAN+3地域の商業銀行を対象に、ESG開示が財務業績（ROA・ROE）に与える影響を実証的に分析。GRI基準に基づく独自のESG開示指数を構築し、ベイズパネル回帰を用いてクロスカントリーの不均一性を処理。結果として、ESG開示は銀行の業績に有意な正の効果をもたらし、情報非対称性の低減と市場信頼の強化に寄与することを示唆している。
English
This study empirically examines the impact of ESG disclosure on the financial performance (ROA, ROE) of commercial banks in the ASEAN+3 region from 2015 to 2024. Using a self-constructed ESG disclosure index based on GRI standards and Bayesian panel regression to handle cross-country heterogeneity, the results show a positive and significant effect of ESG disclosure on bank performance. The findings suggest that ESG transparency reduces information asymmetry and strengthens market trust, serving as a strategic signaling mechanism for long-term value creation in emerging banking systems.
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
日本はASEAN+3の一員として本分析に含まれており、ESG開示と業績のポジティブな関係は日本企業の開示戦略にも示唆を与える。特に、GRI基準に基づく開示が評価されている点はSSBJや有価証券報告書での開示実務に関連する可能性がある。
In the global GX context
This research provides empirical evidence from an emerging market context (ASEAN+3, which includes Japan) on the financial benefits of ESG disclosure. For global GX practitioners, it reinforces the business case for transparent ESG reporting using GRI standards, complementing frameworks like ISSB and TCFD. The Bayesian approach offers methodological robustness for cross-country disclosure studies.
👥 読者別の含意
🔬研究者:This paper offers a robust Bayesian panel regression approach to studying ESG disclosure-performance links in emerging markets, useful for comparative disclosure research.
🏢実務担当者:Banks and investors can use these findings to support the case for ESG disclosure as a value-creation tool in emerging Asian markets.
🏛政策担当者:Regulators in ASEAN+3 countries can consider these results when designing mandatory ESG disclosure rules to enhance market trust.
📄 Abstract（原文）
This study investigates the impact of ESG disclosure on the financial performance of commercial banks in the ASEAN+3 regions during 2015–2024. While prior research provides mixed evidence, empirical findings remain limited for emerging markets characterized by heterogeneous institutional environments and bank-dominated financial systems. We construct a unique, endogenous ESG disclosure index through content analysis of annual and sustainability reports following GRI standards. Utilizing Bayesian panel regression to address cross-country heterogeneity and parameter uncertainty, our results indicate that ESG disclosure has a positive and economically significant effect on bank financial performance, specifically ROA and ROE. Posterior probability estimates consistently support the hypothesis that enhanced ESG transparency reduces information asymmetry and strengthens market trust. The findings suggest that ESG disclosure functions as a strategic informational mechanism, signaling long-term value creation in emerging banking systems.
🔗 Provenance — このレコードを発見したソース
- semanticscholar https://doi.org/10.59822/ijeber.2026.6208first seen 2026-05-15 18:06:51
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