Eduarda Capeleti, Sady Mazzioni, Mara Vogt, Givanildo Silva, Juliana Fabris

Práticas Ambientais, Sociais e de Governança:

Introduction

Práticas ambientais, sociais e de governança:. Descubra como práticas ASG impactam o desempenho organizacional de empresas listadas na B3. Análise de 2018-2021 revela superioridade em vendas e valor de mercado.

Abstract

Objetivo: analisar a influência das práticas Ambientais, Sociais e de Governança (ASG) no desempenho organizacional de empresas listadas na Brasil, Bolsa, Balcão (B3). Método/abordagem: análise por meio de regressão linear multivariada com dados em painel, considerando o período de 2018 a 2021. Foram utilizadas modelos distintos, utilizando-se variáveis para o desempenho contábil e desempenho de mercado. Contribuições teóricas/práticas/sociais: os resultados revelaram que as empresas com melhores práticas ASG apresentaram desempenho superior em vendas para o mercado externo, giro dos ativos, valor de mercado e market-to-book. Originalidade/relevância: empresas que adotam medidas responsáveis no âmbito ambiental, social e de governança têm maior probabilidade de utilizar seus ativos de forma eficiente e obter sucesso na valorização de mercado.

Review

The paper, titled "Práticas Ambientais, Sociais e de Governança," sets out to analyze the influence of Environmental, Social, and Governance (ESG) practices on the organizational performance of companies listed on the Brasil, Bolsa, Balcão (B3). Utilizing a robust methodology involving multivariate linear regression with panel data from 2018 to 2021, the study employed distinct models to assess both accounting and market performance indicators. The abstract clearly articulates a key finding: companies demonstrating superior ESG practices achieved enhanced performance in external sales, asset turnover, market value, and market-to-book ratios. This research provides a timely and relevant exploration into the financial implications of responsible business practices within a significant emerging market context. The methodological approach, employing panel data and separate models for accounting and market performance, appears well-suited to address the research question, offering a comprehensive perspective on the ESG-performance relationship. The stated theoretical, practical, and social contributions are significant, reinforcing the notion that responsible business practices can translate into tangible financial benefits. The specific findings – linking better ESG practices to improved external sales, asset turnover, market value, and market-to-book – offer valuable insights for both academic discourse and corporate strategy. These results effectively highlight the increasing importance of sustainable and responsible operations as a driver for efficiency and market appreciation, especially pertinent for the Brazilian business landscape. While the abstract effectively summarizes the positive findings and the study's originality, the full paper would benefit from a more detailed elaboration on the specific ESG indicators utilized and their measurement. A deeper discussion exploring the potential mechanisms through which ESG translates into improved sales and asset efficiency, as well as any industry-specific variations, could further enrich the analysis. Additionally, situating these findings within the broader international literature on ESG-performance in emerging versus developed markets would strengthen the theoretical contribution. Nevertheless, the study's clear demonstration of efficiency and market valuation benefits for responsible companies in Brazil makes this a valuable and pertinent contribution to the growing body of ESG research.

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