Abstract
Several publicly traded companies worldwide have used social responsibility practices as a strategy to improve the return on their actions, ie, generate more profits for their shareholders. In this perspective, the purpose of this article is to test the theory that relates economic performance to corporate social reputation in the case of the largest publicly traded Brazilian companies. Economic performance is measured by the VEA and the VMAs, while corporate reputation is measured dichotomously, that is investigating the 100 largest publicly traded companies by market capitalization, listed and not listed on the BM&FBovespa ISE. By applying logistic regression results indicate a positive and significant relationship between economic performance and corporate social reputation. This result is consistent with the findings of previous research on the subject. Thus, it is concluded that for the case of the 100 largest publicly traded Brazilian companies, applies the theory of the relationship between economic performance, reputation, corporate social and economic performance. It is inferred that because some of the companies surveyed are already in the international market, reputation corporate social strategy can be used to improve the return on their shares and thus to expand their businesses.
Highlights
A investigating the 100 largest publicly traded companies by market capitalization, listed and not listed on the BM&FBovespa ISE
By applying logistic regression results indicate a positive and significant relationship between economic performance and corporate social reputation. This result is consistent with the findings of previous research on the subject
It is inferred that because some of the companies surveyed are already in the international market, reputation corporate social strategy can be used to improve the return on their shares and to expand their businesses
Summary
A internacionalização dos mercados trouxe diversas mudanças nas organizações e a todos os agentes relacionados a ela. Essa prática reflete um posicionamento responsável por parte dos executivos, que se utiliza de meios de divulgação não compulsória para expor suas práticas internas, por exemplo, a responsabilidade social corporativa (RSC), cuja finalidade é a de melhorar seu desempenho econômico e obter maior credibilidade com seus investidores/acionistas No Brasil, RSC pode ser entendida como o interesse de obter uma maior participação no mercado, ou seja, trata-se de um mecanismo diferenciado que a companhia utiliza para consolidar a sua marca e, aumentar o seu volume de negócios e, de modo consequente se solidificar no mercado (LEITE FILHO; GUIMARÃES, 2007). Nesta perspectiva empresas com boas práticas de responsabilidade social corporativa são capazes de gerar maior riqueza para os seus acionistas (MITTAL et al, 2008). FEDATO, 2005; ARANTES, 2006; MARQUES, TEIXEIRA, 2008; MITTAL et al, 2008; FARIAS, 2008; GODFREY et al, 2008; FIGUEIREDO, 2009; SOARES, SALOTTI, 2011)
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