Effects of environmental, social and governance performance on value relevance of Brazilian companies
This study aimed to analyze the relationship between environmental, social, and governance (ESG) performance and the relevance of accounting information of Brazilian companies. The research is descriptive, documentary, and quantitative. Its sample consists of 241 B[3] listed non-financial companies...
| Autores: | , |
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| Formato: | artículo |
| Estado: | Versión publicada |
| Fecha de publicación: | 2023 |
| País: | Brasil |
| Recursos: | Universidade Federal de Santa Catarina (UFSC) |
| Repositorio: | Revista Contemporânea de Contabilidade (Online) |
| Idioma: | inglés portugués |
| OAI Identifier: | oai:periodicos.ufsc.br:article/86044 |
| Acesso em linha: | https://periodicos.ufsc.br/index.php/contabilidade/article/view/86044 |
| Access Level: | acceso abierto |
| Palavra-chave: | ESG Value Relevance Brazilian Companies Relevancia de la Información Contable Empresas Brasileñas Relevância da Informação Contábil Empresas Brasileiras |
| Resumo: | This study aimed to analyze the relationship between environmental, social, and governance (ESG) performance and the relevance of accounting information of Brazilian companies. The research is descriptive, documentary, and quantitative. Its sample consists of 241 B[3] listed non-financial companies from 2015 to 2019. Its main findings show that ESG performance relates positively to the market-to-book (MTB) of the analyzed companies. Moreover, when testing the ESG pillars individually, we found that each of them also shows a positive relationship with the MTB of these companies so such information can be considered value relevant. We conclude, then, that engaging in ESG practices allows companies to demonstrate to their stakeholders their commitment to more responsible practices and, by doing so, make this information relevant to market participants, thus reflecting on their market value. |
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