GX & Decarbonization Research

Cindy Nur Azaria Mansa, Haliah, Darmawati

This systematic review of 35 studies (2021-2025) synthesizes evidence on ESG and firm value. 60% of studies find a positive effect. Measurement proxies vary greatly (Refinitiv, Bloomberg, ESG risk scores), with industry-calibrated materiali…

Tongyu Zhou

Using data from Chinese A-share listed companies from 2019 to 2023, this study empirically analyzes the impact of ESG performance on financing costs. Higher ESG ratings reduce both debt and total financing costs, with corporate governance b…

Thanh Thuy Ngoc Tran, Trang Cam Hoang, Thoa Thi Kim Dau

This study examines the effect of ESG disclosure on firm value, focusing on the moderating role of financial distress in Southeast Asian firms from 2010 to 2023. Using panel data of 397 listed companies, it finds a negative direct relations…

Najwa Safinabudhi, Insyirah Putikadea

This study examines the effect of ESG disclosure on firm value (Price-to-Book Value) with investor interest as a moderating variable, using panel data from Indonesian listed companies (2022-2024). It finds that ESG disclosure does not signi…

Ayman Abdalla Mohammed Abubakr, Ahmed Mahade, A. Musa +3

Using GMM on 75 Thai listed firms from 2014-2023, this study finds that ESG performance positively impacts ROA, ROE, and Tobin's Q. Debt and cash ratios negatively affect all metrics, while firm size and age show mixed effects. It advocates…

Antonio Somoza López

This study examines the relationship between ESG disclosure and controversies in global energy firms. It finds that sustainability reporting increases visibility of controversies (transparency-detection effect), but standardized reporting (…

А. Beisenbayeva, U. Yernazarova, U. Turdaliyeva

This paper proposes an integrated ESG-control model for the banking sector in Kazakhstan, evaluating the effectiveness of internal control systems incorporating ESG risks. Results show only 12% of banks demonstrate high ESG integration, wit…

Олена Пахненко, Анастасія Олександрівна Узлова, Гліб Олегович Міненко

This paper identifies six channels through which ESG factors affect bank financial stability under the transformation to sustainable finance: risk, information, financial resources, operational efficiency, adaptability, and institutional-re…

Qun Cao, Siye Liang, Jingtong Wu +1

This paper examines the impact of ESG rating divergence on excess cash holdings using Chinese A-share listed firms from 2015-2021. The results show a positive relationship driven by increased information asymmetry, environmental uncertainty…

A. Zerkal, O. Krainik, Mykyta Sharov

This paper systematically analyzes how sustainable business practices create competitive advantages for enterprises. It demonstrates that integrating ESG responsibility with digital tools for monitoring and reporting reduces risks, improves…

Swapnamol P.S Swapnamol P.S, Dr. S Vijayalakshmi Dr. S Vijayalakshmi

This paper investigates barriers faced by green entrepreneurs, including financing, market access, policy support, and sustainable innovation capability. Using survey data and regression analysis, it finds that market access barriers negati…

Joachim Rojahn, Florian Zechser

This study examines the effects of external capital providers (largest shareholders and debtholders) on ESG performance scores for 135 European industrial firms using both frequentist and Bayesian approaches. Findings show ownership concent…

Nur Hayati, M. Wardhana, Refika Anjani Putri

This study examines the relationship between ESG performance and cost of debt for 35 Indonesian firms listed on the SRI-KEHATI Index from 2020–2024 using PLS-SEM. Findings show a significant negative effect of ESG scores on borrowing costs,…

Shodiev Aslam Rakhmatilloevich, Alikulov Abdumumin Ismatovich

This paper proposes a comprehensive approach to improving cost accounting and economic analysis in fishery clusters in Uzbekistan. It develops methodological foundations for adapting IFRS (IAS 41, IFRS 8, IFRS 13) to national practice, a co…

Shodiev Aslam Rakhmatilloevich, Alikulov Abdumumin Ismatovich

This paper addresses cost accounting and economic analysis in Uzbekistan's fishery clusters, proposing adaptations of IFRS (IAS 41, IFRS 8, IFRS 13) and a conceptual ESG reporting model. Using data from 2019-2024, an econometric model (R²=0…

Dhevita Aufa Athary Vatsala, Tubagus Muhamad Yusuf Khudri

This study evaluates ESG materiality based on a regional development bank's sustainability report and external stakeholder perceptions using qualitative content and thematic analysis. Findings show both the organization and stakeholders pri…

Sanusi Ariyanto, Azwirman Azwirman, Hamsal Hamsal

This study, surveying 151 respondents from 37 Indonesian companies, finds that GRI adoption, green accounting, and green audit positively impact ESG reporting quality. Environmental unconsciousness moderates these relationships. An integrat…

Dang Thi Thuy Giang

This paper systematically reviews literature on sustainable finance in Vietnamese listed companies, covering ESG disclosure, green finance, environmental accounting, and corporate governance. It finds fragmented research and identifies gaps…

Ghaida Aulia Purwantika, Hendi Rohendi, Mochammad Edman Syarief

This paper examines the impact of ESG dimensions on stock return volatility for Sharia-compliant manufacturing firms in Indonesia (2018-2024). Using panel data regression, it finds that the Environmental dimension significantly reduces vola…

Nilmawati Nilmawati, Gabriel Reinhard Sitindaon, S. Suprapti

This empirical study analyzes the relationship between ESG disclosure and firm value (Tobin's Q and cost of capital) for energy companies listed on the Indonesia Stock Exchange from 2021-2023. Using GRI standards-based disclosures for 21 fi…