The participation in the índice de sustentabilidade empresarial (ISE): a parallel of the financial perfomance between banks participating and nonparticipating in the portfolio 1
Abstract
The Índice de Sustentabilidade Empresarial (ISE), created by BM&FBOVESPA in 2005, looks for encourage sustainable practicesand identify companies considered socially and environmentally responsible. The aim of this studyis to compare accounting and financial indicators of banks participating and non-participating portfolio ISE2014, 2015 and 2016 to verify whether the participation influences financial performance. Through the application process of descriptive statistics and of non-parametric Mann-Whitney test, it was not possible to verifythat participation in the ISEimproves the financial performance of banks in a lot ofaspects and has proved that there are no differences between the groups of banks participating and nonparticipating porfolio ISE. In addition, non-participating banks showed better results in profitability ratios. It was identify in the study about the presence of Positive Accounting Theory of Watts and Zimmerman (1986), which defines the size as a factor for political attention.
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