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This dissertation undertakes a comparative study of ESG disclosure quality and corporate sustainability performance, focusing on the pervasive influence of diverse regulatory environments. It defines ESG disclosure quality across content, form, and time dimensions, emphasizing comprehensive, accurate, and comparable information beyond mere compliance. Corporate ESG performance is conceptualized as a holistic indicator of sustainable development, measured through various environmental, social, and governance metrics and third-party ratings. The study utilizes a stratified sampling methodology, examining approximately 60 firms across different sizes, industries, geographies (Europe, US, Asia-Pacific), and ESG rating bands, drawing data from corporate reports and major ESG rating agencies. The research explores how regulatory frameworks, ranging from voluntary guidelines to mandatory, principles-based, and rules-based approaches, shape corporate reporting practices. It investigates the complex relationship between disclosure quality and corporate sustainability outcomes, including financial performance, reputation, risk management, and green innovation. A significant finding reveals that transparency in disclosure, irrespective of the underlying ESG performance, can positively influence market perception, suggesting that the act of reporting itself holds value. Furthermore, the study identifies critical limitations in ESG data, such as inconsistencies, lack of standardization, and reporting biases (e.g., greenwashing), which complicate comparability and reliability, particularly for social metrics. These data challenges underscore the need for enhanced regulatory harmonization and robust measurement methodologies to foster genuine corporate sustainability.
Keywords: ESG, Disclosure Quality, Corporate Performance, Regulatory Influence, Sustainability Reporting
