ID: 56858
Authors:
Priscila Azevedo Prudêncio, Hyane Correia Forte, Márcia Martins Mendes De Luca, Alessandra Carvalho de Vasconcelos.
Source:
Revista de Gestão Social e Ambiental, v. 13, n. 2, p. 58-74, May-August, 2019. 17 page(s).
Keyword:
Market performance , Negative environmental disclosure , Operating performance , Stakeholders theory , Voluntary disclosure theory
Document type: Article (Portuguese)
Show Abstract
Recent negative environmental impacts have raised concerns among stakeholders about levels of corporate environmental responsibility. The environmental damage caused by corporate activities, and the repercussions this may have on long-term corporate performance, has increased the demand for information with which to identify firms committed to sustainable development. The purpose of this study is to evaluate the effect of negative environmental disclosure on the performance of firms known to have caused environmental damage. The sample consisted of 277 firms traded on B3, which issued GRI reports or had environmental information published in the media between 2013 and 2017. The data were submitted to descriptive statistics and multiple linear regression analysis. The results show that negative environmental disclosure had no measurable effect on operating performance but influenced the market value, as posited by Stakeholders Theory and Voluntary Disclosure Theory. It may therefore be inferred that stakeholders react to negative environmental disclosure.
