Determinantes financeiros e não financeiros de desempenho das empresas no Índice De Sustentabilidade Empresarial da Bolsa De Valores Brasileira
DOI:
https://doi.org/10.5902/1983465988916Palavras-chave:
Determinantes financeiros, Determinantes não financeiros, Desempenho sustentável, Índice de sustentabilidade empresarial, Mercado de capitaisResumo
Objetivo - O presente estudo teve como objetivo identificar determinantes financeiros e não-financeiros do desempenho sustentável organizacional no contexto das empresas listadas no ISE.
Método - O estudo possui natureza descritiva, abordagem quantitativa, fonte de dados documental e, enquanto técnica para análise dos dados, foi empregado um modelo de regressão logística binária.
Resultados - Os resultados evidenciaram que o modelo de regressão foi estatisticamente significativo, havendo significância estatística dos indicadores financeiros ROA e MLL e dos níveis de poluição na predição do desempenho sustentável. Enquanto níveis mais elevados de ROA apresentaram associação negativa, valores superiores de MLL revelaram capacidade explicativa positiva no desempenho sustentável. Também foi possível observar que o potencial poluidor das atividades econômicas se constituiu em um preditor com maior impacto para a pontuação no ISE, indicando que as empresas que exercem atividades caracterizadas como de alto potencial poluidor apresentam um desempenho sustentável superior.
Limitações - Enquanto potencial lacuna deste estudo, destaca-se a ausência de outros dados, referentes a outras variáveis independentes, especialmente as de caráter não financeiro.
Contribuições práticas - O estudo fornece uma avaliação de impacto das práticas financeiras e não-financeiras no desempenho sustentável obtido no ISE, capaz de fornecer insights para investidores, gestores e demais stakeholders que possuam interesse na promoção de práticas e na melhoria do desempenho sustentável no mercado financeiro brasileiro.
Originalidade - Ao integrar variáveis financeiras e não-financeiras, o estudo revela potencial de fomentar o estado da arte de análises que visam a compreender a influência de fatores distintos no desempenho sustentável organizacional.
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