Reputação corporativa e disclosure de riscos não financeiros nas maiores companhias abertas do Brasil.

• Autor(a) principal: Santos, Beatriz Alves dos
• Data de Publicação: 2021
• Tipo de documento: Dissertação
• Idioma: por
• Título da fonte: Repositório Institucional da Universidade Federal do Ceará (UFC)
• Texto Completo: http://www.repositorio.ufc.br/handle/riufc/59750
• topic: Reputação corporativa; Sustentabilidade empresarial.; Transparência corporativa; Disclosure de riscos não financeiros; Teoria da legitimidade

The high competitiveness of the business environment requires that companies differentiate themselves to allow a better relationship with their stakeholders. In this context, the corporate reputation stands out as a competitive advantage, demonstrating yet differentiation. Under the perspective of the relationship between corporate reputation and transparency, it appears that companies disclose information in order to legitimize themselves in society. In this sense, risk disclosure is essential, given that it presents the companies' exposure to uncertainties. Therefore, the general objective of the research was to analyze the relationship between corporate reputation and non-financial risks disclosure in the largest publicly-held companies in Brazil. The sample comprises 118 publicly traded companies listed in Brasil, Bolsa, Balcão (B3) in the period from 2016 to 2018. The corporate reputation, under the focus of sustainability, was indicated based on the ranking “100 largest publicly traded” of Exame magazine of the years 2017, 2018 and 2019, and a dummy variable was applied to the participation in the portfolios of the Corporate Sustainability Index (ISE) and / or the Carbon Efficient Index (ICO2) of B3, thus creating two groups. Non-financial risk disclosure was analyzed using a scale of 0 to 4 proposed by Van Staden and Hooks (2007), considering a checklist with 31 pre-established risk factors. The relationship of the general objective was analyzed from the application of correlation and multiple linear regression and the specific objectives were analyzed using descriptive statistics, factor analysis, multiple correspondence analysis (MCA) and difference test between means. From the regression tree, it was identified that the integrity risk factors are the most important for determining the non-financial risk disclosure of the analyzed companies. MCA's results indicate that companies classified without corporate reputation had a Low and Very low level of non-financial risk disclosure and belong to the Public Utility and Cyclic Consumption sectors. Additionally, analysis through the subcategories revealed that there is an association between the level of non-financial integrity risks disclosure and strategic risks, the sector in which it operates and the existence of corporate reputation. It was observed, through the tests of difference between means, that companies with reputation have scores in the category of non-financial risks disclosure and subcategories of integrity risks and strategic risks, higher than that of companies without corporate reputation, which converges with the assumptions of legitimacy theory. Finally, the results of the regression analysis enable the conclusion that there is a relationship between corporate reputation and non-financial risks disclosure, but the relationship is negative, refuting the research hypothesis, which raises evidence about the need for further studies on the constructs.