This study investigates the relationship between ESG disclosure quality and international competitiveness among commercial banks in Central Asia, benchmarked against a matched sample of European Union (EU) institutions. Using a mixed-methods approach –including content analysis of sustainability reports (2018–2024), a novel ESG Disclosure Quality Index (EDQI), and panel regressions on 495 bank-year observations – we find that Central Asian banks exhibit significantly lower ESG transparency across environmental, social, and governance dimensions compared to EU peers. Crucially, higher-quality ESG disclosure is robustly associated with greater foreign investment inflows, increased likelihood of Eurobond issuance, higher foreign ownership, and improved credit ratings – even after controlling for bank fundamentals and institutional quality. Notably, the marginal benefit of ESG transparency is significantly stronger in Central Asia than in the EU, suggesting that credible disclosure serves as a critical signaling mechanism in emerging markets where such information is scarce. These findings support the strategic adoption of global ESG reporting standards (e.g., ISSB, TCFD) by Central Asian regulators and banks to enhance financial integration and investor confidence.
| Mualliflar | Jalalov , Mashkhurbek, Жалалов , Машкҳурбек, Jalalov , Mashkhurbek |
|---|---|
| Jurnal | Илғор иқтисодиёт ва педагогик технологиялар |
| Nashr sanasi | 2026-01-20 |
| Jild | 3 |
| Son | 1 |
| Betlar | 35-47 |
| Til | Ingliz |
| DOI | 10.60078/3060-4842-2026-vol3-iss1-pp35-47 |
DOI: 10.60078/3060-4842-2026-vol3-iss1-pp35-47 · Maqolaning asl sahifasi
ESG transparency, international competitiveness, Central Asian banks, European Union banks, sustainability reporting, foreign investment, green finance, panel data analysis, ESG-прозрачность, международная конкурентоспособность, банки Азии, банки Европейского союза, отчетность в области устойчивого развития, иностранные инвестиции, зеленое финансирование, панельный анализ данных, ESG shaffofligi, xalqaro raqobatbardoshlik, Markaziy Osiyo banklari, Yevropa Ittifoqi banklari, barqarorlik hisobotlari, xorijiy investitsiyalar, yashil moliyalashtirish, panel ma’lumotlar tahlili
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