The legitimacy of the Corporate Sustainability Index (CSI) in relation other Indexes B3

Detalhes bibliográficos
Autor(a) principal: de Souza, Roberto Francisco
Data de Publicação: 2019
Outros Autores: Gomes, Adhmir Renan Voltolini, Lima, Samuel Lyncon Leandro de, Santos, Gracielly Vieira dos, Dal Vesco, Delci Grapegia
Tipo de documento: Artigo
Idioma: por
Título da fonte: RACE (Joaçaba. Online)
Texto Completo: https://periodicos.unoesc.edu.br/race/article/view/19572
Resumo: The paper analyzes the relationship and influence of the various indexes of Brasil, Bolsa, Balcão (B3) on the Corporate Sustainability Index (ISE). The sample was selected through series and daily variations of each index between 1/2/2012 to 29/12/2016, with 22,284 observations in total. To analyze the return of the indices, the daily variations of each one in that period were delimited. The results showed that the relationship between the ISE and the other indices is strong, positive and statistically significant. Therefore, these results indicate that companies that seek to legitimize themselves by participating in this Index, that is, seek to incorporate more and more isomorphic structures that reflect the institutional environment. And so, the adoption of ISE may just be another label. Thus, the legitimacy of this Index is questioned, because if there is a relationship with all indicators, it is enough for companies to suppress the index rules that are relevant to their interests. The main positive influences on the Corporate Sustainability Index were established by the IGCT, IVBX, ICO2, IGCX and UTIL indices. The IFNC, IMOB, ICON and IBOV indices negatively influence the ISE. Thus, the legitimacy provided by the ISE can be linked to the composition of the other indices.
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spelling The legitimacy of the Corporate Sustainability Index (CSI) in relation other Indexes B3A legitimidade do Índice de Sustentabilidade Empresarial (ISE) frente aos demais Índices B3Theory of legitimacyOrganizational performanceISESustainabilityTeoria da legitimidadeDesempenho organizacionalISESustentabilidadeThe paper analyzes the relationship and influence of the various indexes of Brasil, Bolsa, Balcão (B3) on the Corporate Sustainability Index (ISE). The sample was selected through series and daily variations of each index between 1/2/2012 to 29/12/2016, with 22,284 observations in total. To analyze the return of the indices, the daily variations of each one in that period were delimited. The results showed that the relationship between the ISE and the other indices is strong, positive and statistically significant. Therefore, these results indicate that companies that seek to legitimize themselves by participating in this Index, that is, seek to incorporate more and more isomorphic structures that reflect the institutional environment. And so, the adoption of ISE may just be another label. Thus, the legitimacy of this Index is questioned, because if there is a relationship with all indicators, it is enough for companies to suppress the index rules that are relevant to their interests. The main positive influences on the Corporate Sustainability Index were established by the IGCT, IVBX, ICO2, IGCX and UTIL indices. The IFNC, IMOB, ICON and IBOV indices negatively influence the ISE. Thus, the legitimacy provided by the ISE can be linked to the composition of the other indices.O trabalho analisa a relação e a influência dos vários índices da Brasil, Bolsa, Balcão no Índice de Sustentabilidade Empresarial (ISE). A amostra foi selecionada por meio de séries e das variações diárias de cada índice entre 2 de janeiro de 2012 e 29 de dezembro de 2016, com 22.284 observações no total. Para analisar o retorno dos índices foram delimitadas as variações diárias de cada um, naquele período. Os resultados demonstraram que a relação do ISE com os demais índices é forte, positiva e estatisticamente significante. Portanto, esses resultados apontam que as empresas buscam se legitimar participando desse Índice, isto é, buscam incorporar cada vez mais estruturas isomórficas que refletem o ambiente institucional. E assim, a adoção do ISE pode ser apenas mais um rótulo. Com isso, questiona-se a legitimidade desse Índice, pois, se existe relação com todos os indicadores, basta às empresas se suprimirem às regras dos índices que são pertinentes aos seus interesses. As principais influências positivas no Índice de Sustentabilidade Empresarial foram estabelecidas pelos índices IGCT, IVBX, ICO2, IGCX e UTIL. Já os índices IFNC, IMOB, ICON e IBOV influenciam de forma negativa o ISE. Logo, a legitimidade proporcionada pelo ISE pode ser atrelada à composição dos demais índices.Universidade do Oeste de Santa Catarina2019-12-16info:eu-repo/semantics/articleinfo:eu-repo/semantics/publishedVersionapplication/pdfhttps://periodicos.unoesc.edu.br/race/article/view/1957210.18593/race.19572RACE - Revista de Administração, Contabilidade e Economia; Vol. 18 No. 3 (2019): RACE set./dez. 2019; 521-542RACE - Revista de Administração, Contabilidade e Economia; v. 18 n. 3 (2019): RACE set./dez. 2019; 521-5422179-49361678-6483reponame:RACE (Joaçaba. Online)instname:Universidade do Oeste de Santa Catarina (UNOESC)instacron:UNOESCporhttps://periodicos.unoesc.edu.br/race/article/view/19572/13906Copyright (c) 2019 RACE - Revista de Administração, Contabilidade e Economiainfo:eu-repo/semantics/openAccessde Souza, Roberto FranciscoGomes, Adhmir Renan VoltoliniLima, Samuel Lyncon Leandro deSantos, Gracielly Vieira dos Dal Vesco, Delci Grapegia2020-10-16T21:43:42Zoai:ojs.periodicos.unoesc.edu.br:article/19572Revistahttps://portalperiodicos.unoesc.edu.br/racehttps://portalperiodicos.unoesc.edu.br/race/oairace@unoesc.edu.br||editora@unoesc.edu.br2179-49361678-6483opendoar:2020-10-16T21:43:42RACE (Joaçaba. Online) - Universidade do Oeste de Santa Catarina (UNOESC)false
dc.title.none.fl_str_mv The legitimacy of the Corporate Sustainability Index (CSI) in relation other Indexes B3
A legitimidade do Índice de Sustentabilidade Empresarial (ISE) frente aos demais Índices B3
title The legitimacy of the Corporate Sustainability Index (CSI) in relation other Indexes B3
spellingShingle The legitimacy of the Corporate Sustainability Index (CSI) in relation other Indexes B3
de Souza, Roberto Francisco
Theory of legitimacy
Organizational performance
ISE
Sustainability
Teoria da legitimidade
Desempenho organizacional
ISE
Sustentabilidade
title_short The legitimacy of the Corporate Sustainability Index (CSI) in relation other Indexes B3
title_full The legitimacy of the Corporate Sustainability Index (CSI) in relation other Indexes B3
title_fullStr The legitimacy of the Corporate Sustainability Index (CSI) in relation other Indexes B3
title_full_unstemmed The legitimacy of the Corporate Sustainability Index (CSI) in relation other Indexes B3
title_sort The legitimacy of the Corporate Sustainability Index (CSI) in relation other Indexes B3
author de Souza, Roberto Francisco
author_facet de Souza, Roberto Francisco
Gomes, Adhmir Renan Voltolini
Lima, Samuel Lyncon Leandro de
Santos, Gracielly Vieira dos
Dal Vesco, Delci Grapegia
author_role author
author2 Gomes, Adhmir Renan Voltolini
Lima, Samuel Lyncon Leandro de
Santos, Gracielly Vieira dos
Dal Vesco, Delci Grapegia
author2_role author
author
author
author
dc.contributor.author.fl_str_mv de Souza, Roberto Francisco
Gomes, Adhmir Renan Voltolini
Lima, Samuel Lyncon Leandro de
Santos, Gracielly Vieira dos
Dal Vesco, Delci Grapegia
dc.subject.por.fl_str_mv Theory of legitimacy
Organizational performance
ISE
Sustainability
Teoria da legitimidade
Desempenho organizacional
ISE
Sustentabilidade
topic Theory of legitimacy
Organizational performance
ISE
Sustainability
Teoria da legitimidade
Desempenho organizacional
ISE
Sustentabilidade
description The paper analyzes the relationship and influence of the various indexes of Brasil, Bolsa, Balcão (B3) on the Corporate Sustainability Index (ISE). The sample was selected through series and daily variations of each index between 1/2/2012 to 29/12/2016, with 22,284 observations in total. To analyze the return of the indices, the daily variations of each one in that period were delimited. The results showed that the relationship between the ISE and the other indices is strong, positive and statistically significant. Therefore, these results indicate that companies that seek to legitimize themselves by participating in this Index, that is, seek to incorporate more and more isomorphic structures that reflect the institutional environment. And so, the adoption of ISE may just be another label. Thus, the legitimacy of this Index is questioned, because if there is a relationship with all indicators, it is enough for companies to suppress the index rules that are relevant to their interests. The main positive influences on the Corporate Sustainability Index were established by the IGCT, IVBX, ICO2, IGCX and UTIL indices. The IFNC, IMOB, ICON and IBOV indices negatively influence the ISE. Thus, the legitimacy provided by the ISE can be linked to the composition of the other indices.
publishDate 2019
dc.date.none.fl_str_mv 2019-12-16
dc.type.driver.fl_str_mv info:eu-repo/semantics/article
info:eu-repo/semantics/publishedVersion
format article
status_str publishedVersion
dc.identifier.uri.fl_str_mv https://periodicos.unoesc.edu.br/race/article/view/19572
10.18593/race.19572
url https://periodicos.unoesc.edu.br/race/article/view/19572
identifier_str_mv 10.18593/race.19572
dc.language.iso.fl_str_mv por
language por
dc.relation.none.fl_str_mv https://periodicos.unoesc.edu.br/race/article/view/19572/13906
dc.rights.driver.fl_str_mv Copyright (c) 2019 RACE - Revista de Administração, Contabilidade e Economia
info:eu-repo/semantics/openAccess
rights_invalid_str_mv Copyright (c) 2019 RACE - Revista de Administração, Contabilidade e Economia
eu_rights_str_mv openAccess
dc.format.none.fl_str_mv application/pdf
dc.publisher.none.fl_str_mv Universidade do Oeste de Santa Catarina
publisher.none.fl_str_mv Universidade do Oeste de Santa Catarina
dc.source.none.fl_str_mv RACE - Revista de Administração, Contabilidade e Economia; Vol. 18 No. 3 (2019): RACE set./dez. 2019; 521-542
RACE - Revista de Administração, Contabilidade e Economia; v. 18 n. 3 (2019): RACE set./dez. 2019; 521-542
2179-4936
1678-6483
reponame:RACE (Joaçaba. Online)
instname:Universidade do Oeste de Santa Catarina (UNOESC)
instacron:UNOESC
instname_str Universidade do Oeste de Santa Catarina (UNOESC)
instacron_str UNOESC
institution UNOESC
reponame_str RACE (Joaçaba. Online)
collection RACE (Joaçaba. Online)
repository.name.fl_str_mv RACE (Joaçaba. Online) - Universidade do Oeste de Santa Catarina (UNOESC)
repository.mail.fl_str_mv race@unoesc.edu.br||editora@unoesc.edu.br
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