持続可能性開示と財務パフォーマンスにおけるジェンダー多様性：企業規模の調整効果
Sustainability disclosure, gender diversity in financial performance: moderating role of firm size (原題)
Indah Permatasari, Agus Munandar
🤖 gxceed AI 要約
日本語
インドネシア証券取引所上場の医療企業を対象に、持続可能性開示とジェンダー多様性が財務パフォーマンス（EVA）に与える影響をパネルデータで検証した研究。持続可能性開示は財務パフォーマンスと有意な関連を示さず、ジェンダー多様性は負の関連、企業規模はジェンダー多様性と財務の関係を強める調整効果を持つことが示された。開示実務と投資家のガバナンス評価に示唆を与える。
English
Using panel data from Indonesian-listed healthcare firms through 2024, this study tests how sustainability disclosure and gender diversity affect financial performance (EVA). Sustainability disclosure showed no significant association with performance, while gender diversity had a significant negative association; firm size strengthened the gender-diversity–performance link. It offers emerging-market evidence for refining disclosure and governance evaluation.
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
新興国・医療セクターにおける開示と財務の関係を示す実証例として、SSBJ基準導入後の日本企業が開示の経済的効果を検証する際の比較材料になる。ただし日本固有の制度・事例ではないため直接的な政策含意は限定的。
In the global GX context
Adds emerging-market (Indonesia) evidence to the global debate on whether sustainability disclosure pays off financially, complementing TCFD/ISSB-era studies mostly drawn from developed markets. The null disclosure result and firm-size moderation speak to how disclosure mandates may play out differently in smaller, sector-specific firms.
👥 読者別の含意
🔬研究者:開示と財務パフォーマンスの関係が新興国・単一セクターで非有意となる点は、制度・市場文脈依存性を検討する際の参照事例になる。
🏢実務担当者:開示の財務効果は業種・規模で異なり得るため、自社の開示戦略を規模やガバナンス構成と併せて評価する視点を提供する。
🏛政策担当者:新興国での開示義務化の効果は一様でなく、企業規模やセクター特性を踏まえた制度設計が必要であることを示唆する。
📄 Abstract（原文）
Purpose: This study investigates the effects of sustainability disclosure and gender diversity on financial performance and test whether firm size moderates these relationships among Indonesia healthcare companies Methodology/approach: A quantitative design was employed using panel data from healthcare firms listed on the Indonesia Stock Exchange through 2024. Samples were selected through purposive sampling. Financial performance was measured using Economic Value Added (EVA), and the relationships were estimated using a Random Effect Model with robust standard errors. Findings: Sustainability disclosure was not significantly associated with financial performance. Gender diversity showed a significant negative association with EVA. Firm size did not moderate the relationship between sustainability disclosure and financial performance, but it significantly strengthened the relationship between gender diversity and financial performance. Practical and Theoretical Contribution/Originality: The study contributes evidence from the Indonesia Healthcare sector by jointly examining sustainability disclosure, gender diversity, and firm size within an EVA framework. The findings may help regulators and companies refine sustainability reporting practices and assist investors in evaluating governance and sustainability initiatives. Research Limitation: The analysis is limited to listed healthcare companies, the observed period, and the selected variables. Future research should extend the observation window and consider other governance, financial and sustainability related factors
🔗 Provenance — このレコードを発見したソース
- semanticscholar https://doi.org/10.22219/jaa.v9i3.45144first seen 2026-10-05 05:50:10 · last seen 2026-10-06 05:25:28
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