Trabalho de Conclusão de Curso de Graduação
Efeitos do desempenho ambiental, social e de governança (ESG) nas políticas de dividendos de empresas brasileiras
Fecha
2022-08-03Registro en:
MEDEIROS, L. dos S. de; PASSOS, P. S. dos. Efeitos do desempenho ambiental, social e de governança (ESG) nas políticas de dividendos de empresas brasileiras. 2022. 78 p.
Trabalho de Conclusão de Curso (Graduação em Ciências Contábeis)-
Universidade Federal de Santa Maria, Santa Maria, RS, 2022.
Autor
Medeiros, Luana dos Santos de
Passos, Patrícia Silva dos
Institución
Resumen
This research aimed to analyze the effects of environmental, social and governance
(ESG) performance on dividend policies of Brazilian companies. To this end, a
descriptive, documentary and quantitative research was carried out, from 2015 to
2020. The study population comprised 469 companies, of which 104 were part of the
sample. Six dependent variables were used to measure dividend policies. As
independent variables, ESG, environmental, social and governance performance, in
addition to the control variables, stand out. The results revealed that ESG,
environmental, social and corporate governance performance contributes to stability
in the payment of dividends made by Brazilian companies from one year to the next.
These results suggest that companies with greater ESG performance have a more
stable dividend payout. Regarding the effects of ESG performance on the payment of
dividends, the findings revealed that greater investments in general ESG and its pillars
make companies distribute dividends to shareholders. With regard to the value of
dividends paid, only the corporate governance pillar leverages this variable. Given
these results, it was concluded that companies with higher ESG performance show
better long-term alignment with shareholders and stakeholders due to a more stable
profit sharing. This research contributes by revealing that involvement in ESG
initiatives encourages companies to pay more dividends and maintain their stability,
which generates greater investor motivation to invest in socially responsible
companies.