Environmental, Social and Governance: Um Panorama da Trajetória Evolutiva de Redes de Pesquisas (2011-2022)

Authors

  • José Ribamar Marques de Carvalho Unidade Acadêmica de Ciências Contábeis - CCJS/UFCG. Universidade Federal de Campina Grande.

DOI:

https://doi.org/10.22478/ufpb.2318-1001.2023v11n3.66939

Abstract

Objective: This article aimed to analyze the evolutionary trajectory of international research networks on ESG Environmental, Social and Governance in the period from 2011 to 2020 in the Scopus database.

Method: This is a bibliometric study on the Scopus® database on the ESG topic, from 2002 to 2022.

Originality and relevance: The evolutions or trends about the period analyzed in relation to the theme were characterized. for a better understanding of the main articles, countries, authors and theoretical currents.

Results and theoretical contributions: It can be concluded that several approaches have been used to explain the behavior of use and performance in ESG, especially those related to earnings management interfaces, gender diversity in boards of directors, CEO power, social and environmental disclosure, corporate governance and social responsibility, sustainable management, financial and market performance.

Downloads

Download data is not yet available.

Author Biography

José Ribamar Marques de Carvalho, Unidade Acadêmica de Ciências Contábeis - CCJS/UFCG. Universidade Federal de Campina Grande.

Professor da Unidade Acadêmica de Ciências Contábeis - UFCG. Mestre em Ciências Contábeis. Doutorando em Recursos Naturais - UFCG.

References

Broadstock, D. C., Chan, K., Cheng, L. T. W., Wang, X. (2021). The role of ESG perfor-mance during times of financial crisis: evidence from COVID-19 in China.

Brooks, C., & Oikonomou, I. (2018). The effects of environmental, social and governance disclosures and performance on firm value: A review of the literature in accounting and finance. British Accounting Review, 50(1), 1-15. https://doi.org/10.1016/j.bar.2017.11.005.

Buallay, A. (2019a). Between cost and value: Investigating the effects of sustainability reporting on a firm’s performance. Journal of Applied Accounting Research, v. 20, n. 4, pp. 481-496.

Buallay, A. (2019b). Is sustainability reporting (ESG) associated with performance? Evidence from the European banking sector. Management of Environmental Quality, v. 30, n. 1, pp. 98-115.

Buallay, A. (2020). Sustainability reporting and firm’s performance: Comparative study between manufacturing and banking sectors. International Journal of Productivity and Performance Management, v.69, n. 3, pp. 431-445.

Chen, C. (2006). CiteSpace II: Detecting and visualizing emerging trends and transient patterns in scientific literature. Journal of the American Society for information Science and Technology, 57(3), 359-377.

Cheng, B., Ioannou, I., & Serafeim, G. (2014). Corporate social responsibility and access to finance. Strategic Mangement Journal, Vol. 35, pages: 1-157.

Cui, J., Jo, H., & Na, H. (2018). Does Corporate Social Responsibility Affect Information Asymmetry? Journal of Business Ethics, 148(3), 549–572. https://doi.org/10.1007/s10551-015-3003-8.

Degenhart, L., Piccinin, Y. G., & Grodtr, J. A. dos S. (2022). Remuneração dos Executivos, ESG (Environmental, Social and Governance) e Desempenho de Empresas brasileiras Familiares e não Familiares. Anais do 22º USP International Conference in Accouting, Universidade de São Paulo, 27 a 29 de julho.

De Wet, J. V. (2012). Executive compensation and the EVA and MVA performance of South African listed companies. Southern African Business Review, 16(3), 57-80.

Dhaliwal, D. S., Li, O. Z., Tsang, A., & Yang, Y. G. (2011). Voluntary Nonfinancial Disclosure and the Cost of Equity Capital: The Initiation of Corporate Social Responsibility Reporting. The Accounting Review, 86, 59-100.

https://doi.org/10.2308/accr.00000005.

Eccles, R. G., Ioannou, I., & Serafeim, G. The Impact of Corporate Sustainability on Organizational Processes and Performance. Management Science, Volume 60, 11, pp. 2835-2857.

El Khatib, A. S., & Oliveira Filho, B. G. de. A Obrigatoriedade dos Relatórios de Sustentabilidade Melhora o Desempenho Financeiro das Empresas? Evidências Empíricas em Mercados Internacionais. Anais do 22º USP International Conference in Accouting, Universidade de São Paulo, 27 a 29 de julho.

Farias, F. G., Pinto, F. R., Araújo, D. S., Menezes, B. S., & Andrade, R. D. (2021). Uma Década de Estudos sobre Economia Circular: Tendências e Reflexões Através de Análise Bibliométrica Internacional. InternexT - Revista Eletrônica de Negócios Internacionais da ESPM, 16(3), 289-305.

Freeman, R. E. (1984) Strategic Management: A Stakeholder Approach. Pitman, Boston.

Friede, G., Busch, T., & Bassen, A. (2015). ESG and financial performance: aggregated evidence from more than 2000 empirical studies, Journal of Sustainable Finance & Investment, 5:4, 210-233, DOI: 10.1080/20430795.2015.1118917.

Gao, J., Chu, D., Zheng, J., & Ye, T. (2022). Environmental, social and governance performance: Can it be a stock price stabilizer? Journal of Cleaner Production, v.379, 2, dec., DOI: https://doi-org.ez292.periodicos.capes.gov.br/10.1016/j.jclepro.2022.134705

Husted, B.W., & Sousa-Filho, J. M. D. (2017). The impact of sustainability governance, country stakeholder orientation, and country risk on environmental, social, and governance performance. Journal of Cleaner Production. Jul. https://doi.org/10.1016/J.JCLEPRO.2016.10.025.

Husted, B.W., & Sousa-Filho, J. M. D. (2019). Board structure and environmental, social, and governance disclosure in Latin America. Journal of Business Research, vol. 102 (C), pages 220-227. DOI: 10.1016/j.jbusres.2018.01.017

Imperiale, F., Pizzi, S., & Lippolis, S. (2023). Sustainability reporting and ESG performance in the utilities sector. Utilities Policy, vol. 80. DOI: 10.1016/j.jup.2022.101468

Ioannou, I., & Serafeim, G. (2012). What Drives Corporate Social Performance? The Role of Nation-level Institutions. Journal of International Business Studies, Vol. 43, No. 9: 834-864.

J. Corp. Finance, Environmental, Social, and Governance Issues: Emerging Markets and Beyond, 61 (2020), Article 101427, 10.1016/j.jcorpfin.2018.12.001

Jensen, M. C., & Meckling, W. H. (1976). Theory of the firm: Managerial behavior, agency costs and ownership structure. Journal of Financial Economics, 3(4), 305-360.

Khalid, F., Razzag, A., Ming, J. Razi, U. (2022). Firm characteristics, governance mechanisms, and ESG disclosure: how caring about sustainable concerns? Environmental Science and Pollution Research, v. 29. DOI: 10.1007/s11356-022-21489-z

Leite, M., & Hein, N. (2019). Relação entre remuneração dos executivos e o desempenho econômico e financeiro em empresas brasileiras. Revista de Gestão, Finanças e Contabilidade, 9(1), 17-36.

Lozano, M. B., Martínez-Ferrero, J. Do emerging and developed countries differ in terms of sustainable performance? Analysis of board, ownership and country-level factors. Research in International Business and Finance, v.62, Dec. 2022. DOI: https://doi-org.ez292.periodicos.capes.gov.br/10.1016/j.ribaf.2022.101688

Luo, D. ESG, liquidity, and stock returns. J. Int. Financ. Mark. Inst. Money, 78 (2022), Article 101526, DOI: 10.1016/j.intfin.2022.101526

Martins, M., Cunha, M. F. da. (2022). A Relação da Divulgação das Práticas ESG com o Valor de Mercado das Empresas Brasileiras de Capital Aberto. Anais do 22º USP International Conference in Accouting, Universidade de São Paulo, 27 a 29 de julho.

Masulis, R. W., Reza, S. W. (2015). Agency problems of corporate philanthropy. Rev. Financ. Stud., 28, pp. 592-636, DOI: 10.1093/rfs/hhu082

Meng-tao, C., Da-peng, Y., Wei-qi, Z., Qi-jun, W. (2023). How does ESG disclosure improve stock liquidity for enterprises - Empirical evidence from China. Environmental Impact Assessment Review, Volume 98, January, 106926, DOI: https://doi-Org.ez292.periodicos.capes.gov.br/10.1016/j.eiar.2022.106926

Murphy, K. J. (1999). Executive compensation. Handbook of labor Economics, 3, 2485-2563.

Okafor, C. E., & Ujah, N. U. (2020). Executive compensation and corporate social responsibility: does a golden parachute matter? Managerial Finance, 16(5), 575-598.

Orlitzky, M., Schmidt, F. L., & Rynes, S. L. (2003). Corporate Social and Financial Performance: A Meta-analysis. Organization Studies, 24(3), 403–441. https://doi.org/10.1177/0170840603024003910

Ortiz-de-Mandojana, N., & Bansal, P. (2016). The long-term benefits of organizational resilience through sustainable business practices. Strategic Management Journal, 37(8), 1615–1631. https://doi.org/10.1002/smj.2410

Pacto Global. Disponível em.: https://www.pactoglobal.org.br/pg/esg. Acesso em: 26 outubro de 2021.

Picolli, I. R. A., Alberton, A. & Ramôa, C. E. de A. (2022). Analisando o passado e prospectando o futuro: Revisão e agenda de pesquisa sobre negócios Sociais e seus Stakeholders”. Contextus – Revista Contemporânea de Economia e Gestão 20 (julho), 201-18. https://doi.org/10.19094/contextus.2022.78239.

Quan, S., Wu S., Yin H. (2015). Corporate social responsibility and stock price crash risk: Value strategy or self-interest tool? Econ. Res. J., 50 (11), pp. 49-64.

Rey-Martí, A., Soriano, D. R., & Palacios-Marqués, D. (2016). A bibliometric analysis of social entrepreneurship. Journal of Business Research, 69 (5), 1651-1655.

Ribeiro, T. D. L., & Lima, A. A. (2022). Environmental, Social e Governance (ESG): Mapeamento e Análise de Clusters, Revista de Governança Corporativa, v.9, n. 1, pp. 1-15. DOI: ttps://doi.org/10.21434/IberoamericanJCG.v9i1.120.

Saini, N., Antil, A., Gunasekaran, A., Malik, K., & Balakumar, S. (2022). Environment-Social-Governance Disclosures nexus between Financial Performance: A Sustainable Value Chain Approach. Resources, Conservation and Recycling, v.186, nov.

Santos, T. R., & Silva, J. O. (2020). Desempenho econômico e financeiro e remuneração de executivos em empresas brasileiras familiares e não familiares dos segmentos cíclico e não cíclico. Revista Universo Contábil, 15(4),7-30.

Scopus. (2022). The CiteScore™ metrics advantage. Disponível em: https://www.elsevier.com/solutions/scopus/how-scopus-works/metrics/citescore. Acesso em: 26.09.2022

Sharfman, M., & Fernando, C. S. (2008). Environmental Risk Management and the Cost of Capital. Strategic Management Journal, Forthcoming.

Suchman. M. C. (1995). Managing Legitimacy: Strategic and Institutional Approaches. The Academy of Management Review, v. 20 (3), Jul., 1995, pp. 571-610.

Tang, D. Y., & Zhang, Y. Do shareholders benefit from green bonds? Journal of Corporate Finance, v.61, April 2020, 101-427.

Velte, P. (2017). Does ESG performance have an impact on financial performance? Evidence from Germany. Journal of Global Responsibility, v. 8, Issue 2, pp. 169-178, Aug.

Velte, P. (2016a). Women on management board and ESG performance. Journal of Global Responsibility , v. 7, n. 1, pp. 98-109.

Velte, P. (2016b). Sustainable management compensation and ESG performance - The German case. Problems and Perspectives in Management, v. 14, Issue 4, pp. 17-24.

Velte, P. (2019). The bidirectional relationship between ESG performance and earnings management – empirical evidence from Germany. Journal of Global Responsibility. 10, Issue 4, pp. 322 – 338, Oct.

Velte, P. (2020). Does CEO power moderate the link between ESG performance and financial performance? A focus on the German two-tier system. Management Research Review, v. 43, Issue 5, pp. 497-520, Apr.

Zhang, S., Yin, X., Xu, L., Li, Z., Kong, D. (2022). Effect of Environmental, Social, and Governance Performance on Corporate Financialization: Evidence from China. Sustainability (Switzerland), 14(17),10712.

Published

2024-06-06

How to Cite

Carvalho, J. R. M. de. (2024). Environmental, Social and Governance: Um Panorama da Trajetória Evolutiva de Redes de Pesquisas (2011-2022). Revista Evidenciação Contábil & Finanças, 11(3), 100–117. https://doi.org/10.22478/ufpb.2318-1001.2023v11n3.66939

Issue

Section

Seção Nacional