Las prácticas ESG y su efecto en el desempeño financiero corporativo: análisis empírico en el mercado de valores brasileño
DOI:
https://doi.org/10.18041/2619-4244/dl.31.10195Palabras clave:
Prácticas ESG, desempeño financiero, Ibovespa, empresas brasileñas, causalidadResumen
En el contexto empresarial actual, la calidad de prácticas Ambientales, Sociales y de Gobernanza (ESG) que adoptan las empresas son cada vez más valoradas por diversos grupos de interés institucionales. Este artículo estudia la relación entre la calidad de las prácticas ESG y el desempeño corporativo de empresas brasileñas que cotizan en los mercados financieros. Los datos provienen de Bloomberg, con una ventana de observación entre 2014 y 2018. La estrategia empírica se desarrolla a través de un panel datos no balanceados con efectos fijos e incorpora análisis de cuantiles y causalidad. Los resultados muestran que la calidad de las prácticas ESG implementadas por estas empresas tienen una relación positiva con la rentabilidad, el valor de la empresa y el acceso a financiación a largo plazo, lo cual conduce a un mejor desempeño en el mercado y con sus partes interesadas.
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