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Abstract(s)
O desempenho contínuo é o objetivo de toda e qualquer organização, porque somente
através da melhoria de desempenho, as organizações são capazes de crescer e progredir.
No âmbito europeu, as empresas que desenvolvem as suas atividades assentes em
critérios de responsabilidade social tornaram-se cada vez mais importantes no processo
de desenvolvimento económico devido à sua capacidade de criação de valor partilhado.
O presente trabalho tem como objetivo analisar o impacto dos indicadores financeiros e
não-financeiros no desempenho organizacional das empresas portuguesas que adotam
práticas de responsabilidade social. Para tal, analisou-se uma amostra de 14 empresas
cotadas na bolsa Euronext Lisbon e que integram o índice principal PSI-20, no período
de 2011 a 2020. Para levar a cabo o estudo recorreu-se à metodologia de dados em painel.
O estudo investiga os fatores, financeiros e não-financeiros, que influenciam o
desempenho empresarial, sendo este medido através das variáveis Return on Assets
(ROA), Return on Equity (ROE) e o Q de Tobin, considerando que estes indicadores
tendem a captar adequadamente o nível de desempenho e a gestão eficiente numa
organização. De um modo geral, os resultados obtidos mostram que a dimensão da
empresa afeta o desempenho da empresa, independentemente da medida de
desempenho utilizada. Quando o ROA é utilizada, os resultados evidenciam uma relação
negativa e significativa entre o nível de endividamento da empresa e esta medida de
desempenho. Por outro lado, os resultados dos modelos de painel estimados não
evidenciam efeitos significativos das variáveis representativas da adoção pela empresa
de práticas de responsabilidade social e ambiental nas variáveis de desempenho
consideradas.
Continuous performance is the goal of each and every organization, because only by improving performance are organizations able to grow and progress. In Europe, companies that develop their activities based on social responsibility criteria have become increasingly important in the economic development process due to their ability to create shared value. This paper aims to analyze the impact of financial and nonfinancial indicators on the organizational performance of portuguese companies that adopt social responsibility practices. To this end, a sample of 14 companies listed on the Euronext Lisbon stock exchange and integrating the main index PSI-20 was analyzed in the period 2011 to 2020. The panel data methodology was used to carry out the study. The study investigates the factors, financial and non-financial, that influence corporate performance, this being measured by the variables Return on Assets (ROA), Return non Equity (ROE) and Tobin's Q, considering that these indicators tend to adequately capture the level of performance and efficient management in an organization. In general, the results obtained show that company size influences company performance, regardless of the performance measure used. When ROA is used, the results show a negative and significant relationship between the level of company debt and this performance measure. On the other hand, the results of the estimated panel models do not show significant effects of the variables representing the adoption by the company of social and environmental responsibility practices on the performance variables considered.
Continuous performance is the goal of each and every organization, because only by improving performance are organizations able to grow and progress. In Europe, companies that develop their activities based on social responsibility criteria have become increasingly important in the economic development process due to their ability to create shared value. This paper aims to analyze the impact of financial and nonfinancial indicators on the organizational performance of portuguese companies that adopt social responsibility practices. To this end, a sample of 14 companies listed on the Euronext Lisbon stock exchange and integrating the main index PSI-20 was analyzed in the period 2011 to 2020. The panel data methodology was used to carry out the study. The study investigates the factors, financial and non-financial, that influence corporate performance, this being measured by the variables Return on Assets (ROA), Return non Equity (ROE) and Tobin's Q, considering that these indicators tend to adequately capture the level of performance and efficient management in an organization. In general, the results obtained show that company size influences company performance, regardless of the performance measure used. When ROA is used, the results show a negative and significant relationship between the level of company debt and this performance measure. On the other hand, the results of the estimated panel models do not show significant effects of the variables representing the adoption by the company of social and environmental responsibility practices on the performance variables considered.
Description
Keywords
Empresas Psi-20 Indicadores de Desempenho Indicadores de Responsabilidade Social e Ambiental Indicadores Financeiros Modelos de Dados de Painel