INTERNAL SOCIAL EXPENSES AND THE PERFORMANCE OF ISE COMPANIES
According to the stockholders theory, companies should generate the greatest value for their shareholders. On the other hand, stakeholder theory, coupled with corporate social responsibility, presupposes that business management must allocate resources to its stakeholders, as a strategic form of eff...
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| Principais autores: | , , , |
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| Formato: | Online |
| Idioma: | por |
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Portal de Periódicos Eletrônicos da UFRN
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| Endereço do item: | https://periodicos.ufrn.br/ambiente/article/view/14157 |
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| Resumo: | According to the stockholders theory, companies should generate the greatest value for their shareholders. On the other hand, stakeholder theory, coupled with corporate social responsibility, presupposes that business management must allocate resources to its stakeholders, as a strategic form of efficiency and maximization of business results. Considering the shock of these assumptions, the objective was to verify if the internal social expenses, evidenced according to NBC T 15, affect the performance of ISE companies. The sample included 22 companies that participated in the Corporate Sustainability Index between 2010 and 2015, totaling 102 observations. Methodologically, we used ordinary least squares regression, with panel data with random effects. The main results indicated that there is no statistical relationship between the internal social expenses, either directly or indirectly, and the operational performance of the companies, as measured by ROA. Thus, the results obtained are in convergence with the assumptions of the stockholders theory, in which the central premise is the maximization of the value of the company to the shareholder. With this, the payment of benefits to employees above legal parameters are not advisable to management, as they do not influence the performance of companies. Thus, the results of this work contribute to the area of accounting and management of the companies in the decisions and the appropriate strategy for allocation of resources, either directly or indirectly to its employees. |
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