抄録
This study identifies the impacts of NGOs and institutional investors on corporations’
response to biodiversity in Japan. For this, existing studies were reviewed and then, an
empirical analysis was conducted. The sample for the study included cross-sectional
data of 1,298 Japanese corporations in 2020. A logit regression model was employed,
with the dependent variable being ‘whether the firm eagerly takes care of biodiversity
matters’. The results show significant positive correlations between （1） cooperation
with NGOs, （2） dialogue with institutional investors, and the dependent variable.
Additionally, firm size, profitability and industry type were also found to affect a firm’s
response to biodiversity.
