Name: AUDICÉIA LIMA SILVA ANDRADE
Publication date: 30/07/2024
Examining board:
Name |
Role |
|---|---|
| DONIZETE REINA | Examinador Interno |
| ELIZEU MARIA JUNIOR | Presidente |
| LAYON CARLOS CEZAR | Examinador Externo |
Summary: Companies' ESG (Environmental, Social, and Governance) disclosures have increased to meet
stakeholder demands and create more accountability for companies. However, it is observed
that the level of engagement of companies in ESG practices can vary according to the
institutional environment in which they are inserted and can influence their financial
performance. This research aimed to compare the effects of ESG performance on the financial
performance of companies located in developed and emerging markets and between
environmentally sensitive and non-sensitive sectors. A descriptive, documental and quantitative
research was conducted. The sample comprised 4,754 companies located in 45 developed and
emerging countries. The results indicated that the institutional environment of the countries
modulates the relationship between ESG performance and financial performance, suggesting
that engagement in ESG practices contributes to the financial performance of sensitive
companies located in emerging countries. By presenting the institutional environment as a
relevant factor in the analyzed context, this research contributes to the literature that addresses
the relationship between ESG performance and financial performance. The findings highlight
the importance of companies adopting environmental, social, and governance practices to meet
the concerns of stakeholders, especially in countries with low institutional quality.
