| Título: | How much does corporate sustainability impact the corporate financial performance in emerging markets? : the case of Brazilian companies from 2011 to 2020 |
| Autor(es): | Oliveira, Luisa Vilela Cury |
| Orientador(es): | Dias, Maria Amélia de Paula |
| Assunto: | Sustentabilidade
Empresas - desempenho |
| Data de apresentação: | 9-Mai-2022 |
| Data de publicação: | 10-Ago-2022 |
| Referência: | OLIVEIRA, Luisa Vilela Cury. How much does corporate sustainability impact the corporate financial performance in emerging markets?: the case of Brazilian companies from 2011 to 2020. 2022. 82 f., il. Trabalho de Conclusão de Curso (Bacharelado em Administração) — Universidade de Brasília, Brasília, 2022. |
| Abstract: | This research aims to explore the impact of Corporate Sustainability
Performance (CSP) on one-year lagged Corporate Financial Performance (CFP) on
companies listed on the Brazilian Stock Exchange (B3) from 2011 to 2020. For that,
ESG Scores were used as a proxy for CSP, and the CFP was measured both by a
market-based metric – share price – and an accounting-based metric – return over
assets. Eight different linear regression models were analysed, considering both the
total ESG Score and the individual scores (i.e., Environmental Score, Social Score,
and Governance Score). Several tests were performed in the models to determine the
best estimation method and, ultimately, the pooled OLS was selected. The findings
highlight a positive and significant impact of the total ESG score on both financial
metrics, with the models explaining Price being more statistically significant. Further,
all individual ESG Scores were significant and positively impacted Price. Nonetheless,
only the Governance Score was significant for the models explaining ROA, which also
reported a positive effect on CFP. This research contributes to the scarce literature
examining CFP and CSP in emerging markets and, to the author’s best knowledge,
this is the first study focusing on the Brazilian market to analyse a period larger than 5
years. |
| Informações adicionais: | Trabalho de Conclusão de Curso (graduação) — University of Brasilia, Faculty of Economics, Administration, Accounting and Public Policy Management, Administration Department, 2022. |
| Licença: | A concessão da licença deste item refere-se ao termo de autorização impresso assinado pelo autor que autoriza a Biblioteca Digital da Produção Intelectual Discente da Universidade de Brasília (BDM) a disponibilizar o trabalho de conclusão de curso por meio do sítio bdm.unb.br, com as seguintes condições: disponível sob Licença Creative Commons 4.0 International, que permite copiar, distribuir e transmitir o trabalho, desde que seja citado o autor e licenciante. Não permite o uso para fins comerciais nem a adaptação desta. |
| Aparece na Coleção: | Administração
|
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