Análise da relação entre indicadores de rentabilidade e indicadores ESG para instituições bancárias, no período de 2015 a 2021

Abstract

Based on the Stakeholder Theory, this study aims to verify the relationship between profitability indicators and ESG indicators in banking institutions listed on the stock exchange from 2015 to 2021. The sample is composed of the 5 banks with ESG data available in the period. Quantitative and descriptive research techniques were used, with a documentary research strategy, with results generated by descriptive statistics, and correlation coefficient (Spearman; 5%). The descriptive statistics show positive profitability and return on the period. The annual evolution shows a reduction in the environmental ESG score after 2018, with the 2021 level lower than in 2015. ESG and its social and corporate governance components are positively and significantly associated with profitability and return on equity. Return is inversely associated with the pandemic, with 95% confidence, showing a reduction in profitability. This research contributes to the expansion of studies on the subject, considering the lack of literature in this period. And it shows stakeholders a reduction of profitability and returns to the years from 2016 to 2020 when the economy was in deep recession; however, total assets showed growth throughout the period, as well as a reduction of corporate social responsibility on environmental issues from 2018.