Analysis of the return on the social and environmental investments of brazilian companies;Análise do retorno dos investimentos socioambientais das empresas brasileiras

RAE Revista de Administracao de Empresas

Volumn 51, Issue 5, 2011, Pages 471-484

  Orellano, Verônica Ines Fernandez ^a   Quiota, Silvia ^a  

^a FUNDAÇÃO GETÚLIO VARGAS   (Brazil)

Author keywords

Endogeneity; Financial performance; Panel data; Social environmental performance; Social environmental responsibility

Indexed keywords

EID: 84865100780     PISSN: 00347590     EISSN: 2178938X     Source Type: Journal    
DOI: 10.1590/S0034-75902011000500005     Document Type: Article

References (23)

1. ABBOTT, W. F; MONSEN, R. J. On the measurement of corporate social responsibility: self-reported disclosures as a method of measuring corporate social involvement. The Academy of Management Journal, v. 22, n. 3, p. 501- 515, 1979.
2. ARELLANO, M; BOND, S. Some tests of specification for panel data: Monte Carlo evidence and an application to employment equations. The Review of Economic Studies, v. 58, n. 2, p. 277-297, 1991.
3. BEURDEN, P. V; GOSSLING T. The worth of values: a literature review on the relation between corporate social and financial performance. Journal of Business Ethics, v. 82, n. 2, p. 407-424, 2008.
4. BLUNDELL, R; BOND, S. Initial conditions and moment restrictions in dynamic panel data models. Journal of Econometrics, v. 87, n. 1, p. 115-143, 1998.
5. BORBA, P. R. T. Relação entre desempenho social corporativo e desempenho financeiro de empresas no Brasil. In: Encontro NACIONAL DA ASSOCIAÇÃO NACIONAL DOS PROGRAMAS DE PÓS-GRADUAÇÃO EM ADMINISTRAÇÃO, 30, 2006, Salvador. Anais. Salvador: ANPAD, 2006.
6. BREALEY, R. A; MEYERS, S. C; MARCUS, A. J. Fundamentals of corporate finance. 3rd. ed. Boston: McGraw-Hill, 2001. Section 1.
7. CESAR, J. F; SILVA JR., A. A relação entre a responsabilidade social e ambiental com o desempenho financeiro: um estudo empírico na Bovespa no período de 1999 a 2006. In: Encontro da ASSOCIAÇÃO NACIONAL DOS PROGRAMAS DE PÓS-GRADUAÇÃO em ciências contábeis, 2, 2008, Salvador. Anais. Salvador: ANPCONT, 2008.
8. COCHRAN, P. L; WOOD, R. A. Corporate social responsibility and financial performance. The Academy of Management Journal, v. 27, n. 1, p. 42-56, 1984.
9. FRIEDMAN, M. The social responsibility of business is to increase its profits. New York Times. New York, p. 32, 13.09.1970.
10. GITMAN, L. J. Princípios da administração financeira. 10. ed. São Paulo: Editora Pearson Addison Wesley, 2004.
11. GOODPASTER, K. E; MATTHEWS JR, J. B. Can a corporate have a conscience? Harvard Business Review, v. 60, n. 1, p. 132-141, 1982.
12. HOLME, R; WATTS, P. Corporate social responsibility: making good business sense. World Business Concil for Sustainable Development Publication, p. 8, 01.01.2000.
13. JENSEN, M. C. Value maximization, stakeholder theory, and the corporate objective function. Journal of AppliedCorporate Finance, v. 22, n. 1, p. 32-42, 2010.
14. LAAN, G. V. D; EES, H. V; WITTELOOSTUIJIN, A. V. Corporate social and financial performance: an extended stakeholder theory, and empirical test with accounting measures. Journal of Business Ethics, v. 79, n. 3, p. 299- 310, 2008.
15. LOBATO, D. M. e outros. Estratégia de empresas. 9. ed. Rio de Janeiro: Editora FGV, 2009.
16. MCGUIRE, J. B; SUNDGREN, A; SCHNEEWEIS, T. Corporate social responsibility and firm financial performance. The Academy of Management Journal, v. 31, n. 4, p. 854- 872, 1988.
17. MCWILLIANS, A; SIEGEL, D. Corporate social responsibility: a theory of the firm perspective. The Academy of Management Review, v. 26, n. 1, p. 117-127, 2001.
18. PORTER, M. E. The competitive advantage of corporate philanthropy. Harvard Business Review, v. 80, n. 12, p. 56, 2002.
19. ROODMAN, D. A note on the theme of too many instruments. Oxford Bulletin of Economics and Statistics, v. 71, n. 1, p. 135, 2009.
20. TORRES, C; MANSUR, C. Balanço social, dez anos: o desafio da transparência. Rio de Janeiro: Ibase, 2008.
21. TUPY, O. Investimentos em meio ambiente, responsabilidade social e desempenho econômico-financeiro de empresas no Brasil. Revista de Estudos Politécnicos, v. VI, n. 10, p. 73-86, 2008.
22. URSINI, T. R; BRUNO, G. O. A gestão para a responsabilidade social e o desenvolvimento sustentável. Revista daFundação de Apoio à Tecnologia (FAT), p. 32, 2005.
23. WADDOCK, S. A; GRAVES, S. B. The corporate social performance- financial performance link. Strategic Management Journal, v. 18, n. 4, p. 303-319, 1997.