scholarly journals Relação entre Desempenho Financeiro e Evidenciação Socioambiental à Luz do Modelo de Epstein e Roy ## Relation Between Financial Performance and Socio-Environmental Disclosure in the Light of the Epstein and Roy Model

2021 ◽  
Vol 10 (2) ◽  
pp. 245
Author(s):  
Emily Tavares Pessoa Maciel ◽  
Francisco José da Silva Júnior ◽  
Maria Luiza Farias Diniz ◽  
Aldo Leonardo Cunha Callado
Keyword(s):  
Financial Performance ◽  
Environmental Disclosure ◽  
Roy Model

Esta pesquisa buscou verificar a relação entre desempenho financeiro e o nível de evidenciação socioambiental de empresas brasileiras, entre 2007 e 2017. Analisou-se 30 empresas utilizando o modelo adaptado de Epstein e Roy (2003), que verifica as evidenciações socioambientais nas dimensões: ambiental, saúde e segurança, comunidade e empregados. Para o desempenho financeiro utilizou-se o modelo de Epstein e Roy (2001), que indica o retorno sobre investimento (ROI), o retorno sobre o capital empregado (ROCE) e o valor econômico adicionado (EVA) como indicadores financeiros de longo prazo. Por meio de análise de dados em painel, estimou-se quatro regressões que buscaram confirmar as hipóteses de que o nível de evidenciação sustentável poderia influenciar as variáveis de desempenho financeiro em período posterior; assim como se o desempenho financeiro é fator determinante para os níveis de evidenciação de sustentabilidade nos períodos seguintes. Verificou-se que o EVA não apresentou relação significativa com o nível de divulgação, não exercendo influência sobre a evidenciação da empresa. Já as variáveis ROI e ROCE apresentaram relação com o nível de divulgação socioambiental, demonstrando que quanto mais se evidencia informações sustentáveis, maiores serão as possibilidades de retorno sobre o capital empregado e sobre o capital investido. Além disso, frente ao aumento da variável ROI, as empresas demonstraram maior determinação em divulgar informações socioambientais. Desse modo, constatou-se efetividade da perspectiva de Epstein e Roy, ao observar que demonstrar sustentabilidade impulsiona maiores retornos sobre o capital investido e empregado, assim como o capital investido tende a otimizar os níveis de divulgação sustentável.

scholarly journals Managing Corporate Social and Environmental Disclosure: An Accountability vs. Impression Management Framework

2020 ◽  
Vol 13 (1) ◽  
pp. 296
Author(s):  
Adelaide Martins ◽  
Delfina Gomes ◽  
Manuel Castelo Branco
Keyword(s):  
Financial Performance ◽  
Conceptual Framework ◽  
Impression Management ◽  
Organizational Legitimacy ◽  
Social Reporting ◽  
Corporate Accountability ◽  
Environmental Reporting ◽  
Environmental Disclosure ◽  
Corporate Social Reporting ◽  
Corporate Social

Institutional environment demands from organizations to be accountable for their social and environmental actions and to provide information allowing the assessment of their long-term prospects for profitability may lead organizations to adopt Impression Management (IM) tactics to manage perceptions. Consequently, organizations may provide accounts demonstrating that they are good corporate citizens and possess the intangible assets required for future good financial performance. Although organizations have increased their corporate social reporting, the quality and reliability of those reports have been questioned. The literature suggests that these disclosures tend to be selective and biased, and do not enhance corporate accountability. This study proposes a formal conceptual framework linking IM, social and environmental accountability, financial performance, and organizational legitimacy. The arguments in this study are of economic, societal, and ethical concern, as IM behaviors may undermine the transparency of social and environmental reporting, and the decoupling between the economic and social image offered by companies through reporting and the reality. These insights also point at the complexities for organizations in dealing with accountability to all stakeholders. The conceptual framework proposed is useful for future studies aiming at understanding how organizations use IM in their corporate social reporting in the accountability process.

scholarly journals Impact of Environmental Performance on Financial Performance: Empirical Evidence from Indian Banking Sector

2021 ◽  
Vol 12 (1) ◽  
pp. 13-24
Author(s):  
Parul Munjal ◽  
P. Malarvizhi
Keyword(s):  
Financial Performance ◽  
Empirical Evidence ◽  
Significant Relationship ◽  
Environmental Performance ◽  
Banking Sector ◽  
Secondary Data ◽  
Capital Intensity ◽  
Environmental Disclosure ◽  
Policy Makers ◽  
Environmental Practices

There has been long-standing debate over whether or not firms gain economic competiveness from reducing their impact on the environment. Although ample literature is available on association between environmental performance and financial performance across various sectors, little empirical evidence is available in context of Indian banking sector. This research aims to analyze whether there is any significant relationship between environmental performance and financial performance of banks operating in India for a period 2013-14 to 2017-18. Secondary data has been collected for a sample of 83 banks operating in India. Content analysis was applied to extract information about environmental performance disclosed by sample banks followedby construction of environmental disclosure score index. Hierarchical multiple regression was applied to analyze relationship between environmental performance and financial performance after controlling for effects of size, financial leverage and capital intensity. Results exhibit no significant relationship between environmental performance and financial performance of banks operating in India. Findings of this research are expected to provide insight to users and readers of financial statements to have better understanding about the environmental practices carried out by banks. It would also contribute significantly towards decision making for policy makers in Indian banking sector to establish mandatory environmental legislations for reporting on environmental practices in order to improve non financial disclosure and financial performance in Indian banking sector.

scholarly journals Inclusive environmental disclosure practices and firm performance

2018 ◽  
Vol 38 (9) ◽  
pp. 1815-1835 ◽  
Author(s):  
Annachiara Longoni ◽  
Raffaella Cagliano
Keyword(s):  
Supply Chain ◽  
Supply Chain Management ◽  
Financial Performance ◽  
Environmental Performance ◽  
Environmental Disclosure ◽  
Conceptual Foundation ◽  
Chain Management ◽  
Content Type ◽  
Positive Effects ◽  
The Impact

Purpose Little empirical work has been done on the effects of inclusive environmental disclosure and green supply chain management (GSCM) on firm outcomes. The literature on environmental disclosure suggests that it is a useful practice to improve a firm’s reputation and its financial performance and also to establish a dialogue with stakeholders improving environmental performance. Recent conceptual contributions in the supply chain management literature state that stakeholder expectations and informational needs increasingly concern firm supply chains. Thus, the authors propose that positive effects of inclusive environmental disclosure practices are enhanced in presence of GSCM practices. The paper aims to discuss these issues. Design/methodology/approach To test these relationships a combination of primary data on environmental disclosure practices, GSCM practices and environmental performance, and secondary data on financial performance was used. A series of hierarchical regression models were performed to test the disclosure-outcome relationships and the moderation of GSCM practices. Findings Results provide empirical support for the impact of inclusive environmental disclosure practices on financial performance but no support for the impact on environmental performance. Specifically, the more inclusive the environmental disclosure practices the greater and positive is the impact on financial performance in presence of GSCM practices. Originality/value This study provides empirical evidence of the joint effects of inclusive environmental disclosure and GSCM practices on environmental and financial performance. Doing so, it reinforces the recent conceptual foundation that firms should align and leverage on supply chain management for disclosure practice effectiveness.

Environmental Performance of Financial Performance and Moderated Environmental Disclosure

2020 ◽  
Vol 24 (02) ◽  
pp. 3056-3066 ◽  
Author(s):  
Rima Rachmawati ◽  
Sendi Gusnandar Arnan ◽  
Shinta Dewi Herawati ◽  
Roosaleh Laksono R
Keyword(s):  
Financial Performance ◽  
Environmental Performance ◽  
Environmental Disclosure

scholarly journals Relationship between Company Financial Performance, Characteristic and Environmental Disclosure of ASX Listed Companies

2018 ◽  
Vol 73 ◽  
pp. 10024 ◽  
Author(s):  
Wahyuningrum Indah Fajarini Sri ◽  
Budihardjo Mochamad Arief
Keyword(s):  
Financial Performance ◽  
Listed Companies ◽  
The Other ◽  
Environmental Disclosure ◽  
Return On Assets ◽  
Return On Equity ◽  
Corporate Social Disclosure ◽  
Earnings Per Share ◽  
Sample Data ◽  
Corporate Social

The study expects to find positive relations between company financial performance, company characteristics, auditing firm, and the extent of company environmental disclosure. The sample data used in this study is 200 largest Australian listed companies (ASX) in 2014. In order to explain the corporate social responsibility practices in Australian companies, this study used stakeholder and legitimacy theories. The measurement of company environmental disclosure in this study involves nine indicators of environmental disclosure index based on Environmental Social and Governance (ESG). More specifically, the statistical analysis indicates that earnings per share, return on equity, type of company, size of company, age of company, and auditing firm positively influence the company environmental disclosure. On the other hand, the results showed that return on assets has no relationship with company environmental disclosure. Overall, this study has added some information about corporate social disclosure studies focused on environmental disclosure of largest Australian companies.

scholarly journals The Effects of Environmental Disclosure on Financial Performance in Malaysia

2016 ◽  
Vol 35 ◽  
pp. 117-126 ◽  
Author(s):  
Norhasimah Md Nor ◽  
Norhabibi Aishah Shaiful Bahari ◽  
Nor Amiera Adnan ◽  
Sheh Muhammad Qamarul Ariffin Sheh Kamal ◽  
Inaliah Mohd Ali
Keyword(s):  
Financial Performance ◽  
Environmental Disclosure
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