73051

Lucas Benedito Gomes Rocha Ferreira
Leonardo Köppe Malanski

Brazilian Business Review

Por meio da teoria da legitimidade e da vertente Nova Economia Institucional, o objetivo deste estudo é investigar o efeito da liberdade econômica na relação entre as práticas Environmental, Social, Governance (ESG) e a rentabilidade. A amostra da pesquisa corresponde às empresas do setor de finanças localizadas na América, entre 2017 e 2020, utilizando informações da base de dados Refinitiv Eikon®. A análise utilizou modelagem de dados em um painel hierárquico. Os resultados demonstram que as práticas ESG têm um impacto positivo e significativo sobre a rentabilidade. Individualmente, apenas a variável referente ao pilar social apresentou relação positiva e significativa sobre a rentabilidade. Quanto ao efeito moderador da liberdade econômica, mostrou-se que ela potencializa a relação entre índice ESG e rentabilidade, e somente potencializa a relação entre governança corporativa e rentabilidade quando analisadas individualmente. Além disso, os resultados implicam que a qualidade institucional de um país tem uma influência importante nas práticas ESG e na rentabilidade

empresas financeiras, Liberdade econômica, práticas ESG

FERREIRA, L. B. G. R.; MALANSKI, L. K. Economic Freedom and Environmental, Social, Governance Practices: An Analysis of the Financial Sector in the Americas. Brazilian Business Review, v. 20, n. 6, p. 601-624, 2023.

Ferreira, L. B. G. R., & Malanski, L. K. (2023). Economic Freedom and Environmental, Social, Governance Practices: An Analysis of the Financial Sector in the Americas. Brazilian Business Review, 20(6), 601-624.

10.15728/bbr.2021.1125.en

https://www.spell.org.br/documentos/ver/73051/liberdade-economica-e-praticas-esg--environmental--social--governance---uma-analise-do-setor-financeiro-nas-americas/i/pt-br

Artigo

Inglês

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