Gestão & Produção
https://www.gestaoeproducao.com/article/doi/10.1590/1806-9649-2024v31e0224
Gestão & Produção
Original Article

Relationship between financial performance and corporative governance of mining, oil and gas companies

Relação entre desempenho financeiro e governança corporativa de empresas de mineração, petróleo e gás

Patricia Mendonça Maia Bernardes; Nilson Brandalise; Andrei Bonamigo

http://dx.doi.org/10.1590/1806-9649-2024v31e0224 Gest. Prod., vol.31, e0224, 2024
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Abstract

Abstract: Sustainability in global business has been recognized as a fundamental element for the competitiveness of organizations. However, studies that relate governance and sustainability criteria to the financial performance of such organizations appear ambiguous, inconclusive, or contradictory. This research aims to assess the relationship between the incorporation of ESG criteria and the financial performance of companies in the mining, oil, and gas sector. To achieve this, a systematic literature review was conducted, followed by content analysis. The results obtained show that the social component increases the company's value, and the environmental and governance components do not decrease it. This study represents a contribution by filling a gap in the literature on the relationship between the adoption of ESG criteria by sector companies and their financial performance. Additionally, it serves as a starting point for future research in related areas, providing information and evidence on these relationships and paving the way for a better understanding of the impacts of ESG practices on corporate finance.

Keywords

Financial performance, ESG, Corporate governance, Mining, Oil and gas

Resumo

Resumo: A sustentabilidade nos negócios globais tem sido reconhecida como um elemento basilar para a competitividade das organizações. No entanto, estudos que relacionam critérios de governança e sustentabilidade ao desempenho financeiro de tais organizações se mostram ambíguos, inconclusivos ou contraditórios. Essa pesquisa tem como objetivo avaliar a relação entre a incorporação dos critérios ESG e o desempenho financeiro das empresas mineradoras, de petróleo e de gás. Para isso, foi realizada uma revisão sistemática da literatura em conjunto com análise de conteúdo. Os resultados obtidos mostram que a componente social aumenta o valor da empresa, e as componentes ambiental e governança não o diminuem. Este estudo representa uma contribuição ao preencher uma lacuna na literatura sobre a relação entre a adoção de critérios ESG por empresas do setor e seu desempenho financeiro. Além disso, serve como ponto de partida para pesquisas futuras em áreas relacionadas, fornecendo informações e evidências sobre essas relações e abrindo caminho para uma maior compreensão dos impactos das práticas ESG nas finanças corporativas.

Palavras-chave

Desempenho financeiro, ESG, Governança corporativa, Mineração, Petróleo e gás

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