Relação entre indicadores socioambientais e indicadores econômico-financeiros das empresas listadas na b3.

Abstract

Based on the stakeholders and shareholders theory, this research aims to investigate the relation between economic-financial and social-environmental indicators among B3 listed companies. This was done by using a sample of seventy-two companies belonging to twenty-one economic sub-sectors during the period from 2010 to 2017. Thus, the Return on Assets (ROA) variable was used to measure the economic-financial performance and, when it came to measuring the social-environmental one, variables built through Added Value Statement (AVS) and standardized indicators by Global Reporting Initiative (GRI) were used. In the empirical analysis, control variables were also included to ensure the analysis' firmness. The variables were: sub-sector, total indebtedness on the asset and total indebtedness on net equity. The statistical tests done were the correlation and regression with panel data. The results revealed a negative impact on ROA variable through AVS's ones related to wealth distribution to employees, government and creditors. There weren't any significant statistics between the ROA and GRI-standardized reports of socio-environmental variables.