Publicação
Quality of environmental information versus profitability of electric industry firms listed in ISE
| Resumo: | According to the stakeholder theory, social and environmental investments are supposed to result in better financial performance, as these investments reflect the company's concern about the environment and society. This study aimed to verify the relationship between the quality of environmental information and the profitability of electric power companies quoted on the Brazilian stock exchange (B3 S.A.) and listed in the Corporate Sustainability Index. The sample consisted of 10 Brazilian companies with shares traded on B3 S.A. from 2014 to 2017. For the data collection, it was analyzed the company's sustainability report, the Global Reporting Initiative (GRI) model, Standard Financial Statements, and the economic-financial information from the Economática® database. The results show that the companies have medium or high level of accuracy, indicating good quality of disclosure, and the application of the quantile regression technique showed that a higher disclosure given by the accuracy index is not associated with the following variables: Earnings Before Interest, Taxes, Depreciation And Amortization (EBITDA), Earnings Before Income Tax + Net Financial Availability, Gross Margin, Earnings Before Interest And Taxes (EBIT margin), Ebitda margin, Return on assets, and Return on Investment (ROI). The results show no relation between the profitability of the companies and the social and environmental actions. |
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| Autores principais: | Santos, Ana Lúcia dos |
| Outros Autores: | Prado, Alexsandro Gonçalves da Silva; Moreira, Caritsa Scartaty; Soares, José Mauro Madeiros Veloso |
| Assunto: | Quality of information Sustainability report Profitability Environmental Qualidade da informação Relatório de sustentabilidade Rentabilidade Ambiental |
| Ano: | 2020 |
| País: | Brasil |
| Tipo de documento: | artigo |
| Tipo de acesso: | unknown |
| Instituição associada: | IBICT |
| Idioma: | português |
| Origem: | Oasisbr |
| Resumo: | According to the stakeholder theory, social and environmental investments are supposed to result in better financial performance, as these investments reflect the company's concern about the environment and society. This study aimed to verify the relationship between the quality of environmental information and the profitability of electric power companies quoted on the Brazilian stock exchange (B3 S.A.) and listed in the Corporate Sustainability Index. The sample consisted of 10 Brazilian companies with shares traded on B3 S.A. from 2014 to 2017. For the data collection, it was analyzed the company's sustainability report, the Global Reporting Initiative (GRI) model, Standard Financial Statements, and the economic-financial information from the Economática® database. The results show that the companies have medium or high level of accuracy, indicating good quality of disclosure, and the application of the quantile regression technique showed that a higher disclosure given by the accuracy index is not associated with the following variables: Earnings Before Interest, Taxes, Depreciation And Amortization (EBITDA), Earnings Before Income Tax + Net Financial Availability, Gross Margin, Earnings Before Interest And Taxes (EBIT margin), Ebitda margin, Return on assets, and Return on Investment (ROI). The results show no relation between the profitability of the companies and the social and environmental actions. |
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