Hipótese de responsabilidade socioambiental e EKC: uma análise das empresas listadas no ISEB3.

Abstract

This work aims to verify the relationship between socio-environmental investments and economic performance in companies listed on the Corporate Sustainability Index (ISEB3) in the light of the Environmental Kuznets Curve Hypothesis. Therefore, this quantitative research used data from the Social Balance Sheets according to the IBASE model made available by the organizations listed on ISEB3, since the beginning of its publication. The information followed the panel data methodology with the aid of the STATA 16 software and the sample consisted of 22 companies in an unbalanced panel. The socio-environmental variables that correspond to internal social investments, external social investments and investments in the environment were analyzed. As financial variables, net revenue, operating result, return on assets, return on investment and return on equity were verified. The results showed that the net revenue variable reaches an “N”-shaped curve when analyzed together with the variables internal social investments and investments in the environment. showing that, even though there is a reduction in the pressure of the environment, while the economic performance increases, the companies in the sample tend to return to pressure the environment in the items analyzed by the aforementioned socio-environmental variables. In none of the variables the EKC hyphotesis was accepted according to the criteria established by Kuznets (1955).