Desempenho econômico-financeiro e gestão sustentável: um estudo nas empresas do ISE BOVESPA

Abstract

This study pursued to compare the rates of economic and financial performance of the companies included in the ISE BOVESPA portfolio and the ones not included on the portfolio, but that also trade shares on the BM&FBOVESPA, to check whether the sustainable management influences on economic and financial performance. For this, the existence of an association between economic and financial performance and practice of sustainable management of the companies studied was analyzed by statistical tests. The statistical methods used were the Mann-Whitney test and the Chi-square test. The analysis was done by quarter and the period studied was 2010 and the 1st and 2nd quarters of 2011. It was also analyzed the correlation between the indexes in each sample by means of the Pearson correlation coefficient. Strong positive correlations were found in 7.81% of the calculated values in the companies included in the ISE and 7.10% of non-members of the portfolio. Most strong positive correlations of the indexes were only between the indexes themselves with the other quarters studied. No strong negatives correlations were found in both samples. The association between variables sustainable management and economic and financial performance variables was found in 9.88% of the sample analyzed. This means that there are associations, but are not sufficient to state that there is a relationship between these variables. Furthermore, not all are good for business members of the ISE. For this reason, according to the test results, one cannot say that a sustainable management interferes in economic and financial performance of the company.