Impacto das práticas ESG no desempenho econômico de empresas do Varejo

Janice Ferreira dos Santos; José Odálio dos Santos; José Carlos Marion; Marcos  Crivelaro

doi:10.21710/rch.v38i2.790

Authors

Janice Ferreira dos Santos Pontifícia Universidade Católica de São Paulo https://orcid.org/0009-0004-8844-709X
José Odálio dos Santos Pontifícia Universidade Católica de São Paulo https://orcid.org/0000-0001-6428-723X
José Carlos Marion Pontifícia Universidade Católica de São Paulo https://orcid.org/0000-0002-5641-6107
Marcos Crivelaro Faculdade de Informática e Administração Paulista (FIAP) https://orcid.org/0009-0004-8844-709X

DOI:

https://doi.org/10.21710/rch.v38i2.790

Keywords:

ESG, sustainability, economic performance, EVA®

Abstract

The growing concern with environmental, social, and governance (ESG) impacts has transcended the realm of corporate responsibility, emerging as a strategic factor capable of directly influencing companies' economic performance. The growing volume of financial resources with ESG criteria, as well as the new expectations of a society that yearns for more sustainable products and services, have pressured the adoption of ESG practices by companies. Therefore, this study aims to investigate the possible relationship between the adoption of ESG practices and companies' economic performance. To achieve this research objective, we used a sample composed of publicly traded companies in the apparel retail sector that were leaders in revenue and scored on the B3 Corporate Sustainability Index (ISE) between 2021 and 2024. For data analysis, we used the statistical technique of multivariate linear regression with panel data. Economic performance was measured by Economic Value Aded (EVA^®), while the independent variables included the total ESG score, the individual Environmental, Social, and Governance factors, and control variables such as ROA, cost of debt capital, and sales growth. The results indicated a positive and significant relationship between the adoption of ESG practices and economic performance. The Social and Governance factors showed greater relevance, while the Environmental factor, although positive, was not statistically significant. The findings reinforce the importance of EVA^® in assessing the financial materiality of ESG practices.

Author Biography

Marcos Crivelaro, Faculdade de Informática e Administração Paulista (FIAP)

Autor não possui Orcid.

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