O impacto da responsabilidade social na performance de empresas da Europa Ocidental cotadas em bolsa

• Autor(a) principal: Rocha, Roberto Carlos Nogueira da
• Data de Publicação: 2022
• Tipo de documento: Dissertação
• Idioma: por
• Título da fonte: Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos)
• Texto Completo: http://hdl.handle.net/10400.22/21395
• topic: Responsabilidade social; ESG; GC Score; Performance empresarial; Empresas europeias; Stakeholders; Social responsability; ESG; GC Sscore; Business performance; European companies; Contabilidade

This dissertation aims to analyse the impact of Social Responsibility (SR) on the performance of 216 European companies listed on the stock exchange, in a time period from 2017 to 2021. The main objective of this investigation is to determine how the operational, financial and market performance of companies is influenced by the socially responsible practices. The methodology adopted is in the quantitative scope, where dynamic models for panel data will be estimated. This study will use the return on assets (ROA), in order to evaluate the operational performance, the return on equity (ROE), to evaluate the financial performance and finally, to evaluate the market performance, it will be used the Tobin's Q ratio. On the other hand, ESG (Environment, Social and Government) scores and GC Scores (United Nations Global Compact Score), based on the United Nations Global Compact, will be used in order to quantify SR. This study reveals that RS has not only a negative influence on the financial and operational performance of companies, but also a positive influence on market performance. This influence is even greater when the best scores are distinguished from the worst. The environment, social and government dimensions are negatively related to ROA and ROE, and positively to Tobin's Q (except for the environment dimension, which is not related to this variable). On the other hand, the anti-corruption and environment dimension of the GC Score is negatively related to Tobin's Q, the human rights dimension is negatively related to the ROE and ROA, and finally, the labour law has a positive relationship with financial performance. It is important to highlight that company size positively influences this relationship, while age has a negative influence. This investigation offers important contributions to the literature, since from the ESG scores and the GC Score, a complete analysis of the impact of social responsibility on business performance is developed, as it addresses this impact not only on financial, operational and market performance, but also through other relevant variables, such as age and size.