Análisis de la Relación entre Rentabilidad y Sostenibilidad Empresarial en Empresas Peruanas
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Publicado
ago 31, 2021
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Resumen
El objetivo de este artículo es analizar la relación entre la rentabilidad de las empresas peruanas incluidas en el Índice de Buen Gobierno Corporativo de la Bolsa de Valores de Lima y sus prácticas de sostenibilidad. Estudios similares se han realizados para empresas en otras latitudes, cuyos resultados han sido ambiguos debido a que no siempre se encuentra que esta relación es positiva. Para este estudio se analizaron la rentabilidad (ROA, ROE y ROCE), mientras que, para medir las prácticas de sostenibilidad el puntaje obtenido en los cuestionarios de sostenibilidad empresarial de la Superintendencia del Mercado de Valores del Perú.
Palabras clave
sostenibilidad empresrial, rentabilidad, grupos de interés
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Citas
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White, A.L. (1999). Sustainability and the accountable corporation. Environment, 41 (8), 3–43.
Zadek, S. (2007). The civil corporation: the new economy of corporate citizenship. London, UK: Earthscan Publications.
Brown, H. S., de Jong, M., y Lessidrenska, T. (2009). The rise of the Global Reporting Initiative: a case of institutional entrepreneurship. Environmental Politics, 18(2), 182–200. doi:10.1080/09644010802682551
Butler, H. N. y Ribstein, L. E. (1990). Opting Out of Fiduciary Duties: A Response to Anti-Contractarians. Washington Law Review 65(1): 1–72.
Callan, S. J. y Thomas, J. M. (2009). Corporate Financial Performance and Corporate Social Performance: An Update and Reinvestigation. Corporate Social Responsability and Environmental Management, 16, 61-78.
Carroll, A. B. y Buchholtz, A. K. (2009). Business & Society Ethics and Stakeholders Management (7ma Ed.). Mason, OH: South-Western Cengage.
Chouinard, Y., Ellison, J. y Ridgeway, R. (2011). The Sustainable Economy. Harvard Business Review, 10, 2-12.
Clarke, T. (2007). International Corporate Governance A Compative Approach. New York, NY: Routledge.
Cumming, G. (2014). The New Statistics: Why and How. Psychological Science, 25(1), 7–29. doi:10.1177/0956797613504966
Dodd, E. M. (1932). For Whom Are Corporate Managers Trustees? Harvard Law Review, 45(7), 1145 - 1163.
Dodge v. Ford Motor Co. 204 Mich 459. Suprema Corte de Michigan. 1919.
Downling, J. y Pfeffer, J. (1975). Organizational Legitimacy: Social Values and Organizational Behavior. The Pacific Sociological Review, 18(1), 122-136.
Elkington, J. (1997). Cannibals with Forks the Triple Botton Line of 21st Century Business. Oxford, UK: Capstone.
Ehrhardt, M. C. y Brigham, E. F. (2007). Finanzas Corporativas (2da Edición). México D. F.: Cengage.
Freeman, R. E. (1984). Strategic Management: A Stakeholder Approach. Boston, MA: Pitman.
Greenwood, R., Oliver, C., Lawrence, T. B. y Meyer, R. E. (2017). Introduction: Into the Fourth Decade. En R. Greenwood, C. Oliver, T. B. Lawrence y R. E. Meyer (Eds.). The Sage Handbook of Organizational Institutionalism (2nd Ed.). London, UK: Sage
Katsoulakos, T y Katsoulacos, Y. (2007). Strategic Management, Corporate Responsibility and Stakeholder Management Integrating Corporate Responsability Principles and Stakeholder Approaches into Mainstream Strategy: A Stakeholder-Oriented and Integrative Strategic Management Framework. Corporate Governance, 7(4),
Krosinsky, C., Robins, N. y Viederman, S. (2012). Evolutions in Sustainable Investing: Strategies, Funds and Thought Leadership. Hoboken, NJ: John Wiley & Sons, Inc.
Laskar, N. (2019). Does Sustainability Reporting Enhance Firms Profitability? A Study on Select Companies from India and South Korea. Indian Journal of Corporate Governance, 12(1), 2–20. doi:10.1177/0974686219836528
Leipziger, D. (2003). The Corporate Responsibility Code Book. Sheffield, UK: Greenleaf Publishing.
Macken, J. (2002). ‘Trick or treat’. Australian Financial Review, 3, 36-39
Maurer, J. G. (1971). Reading in Organizational Theory: Open Systems Approaches. New York, NY: Random House.
Mitroff, I. (1983). Stakeholders of the Organizational Mind. San Francisco, CA: Jossey-Bass Inc.
Nike. (2000). 1999 Annual Report. Descargado de: https://s1.q4cdn.com/806093406/files/doc_financials/1999/corporate.html
Programa de Inversión responsable. (2017). Guía de Usuario para Facilitar el Llenado del Reporte de Sostenibilidad Corporativa. Descargado de: https://www.bvl.com.pe/ipgc/PIR_guia.pdf
doi:10.1016/0149-2063(95)90051-9
Rodriguez-Fernandez, M. (2016). Social responsibility and financial performance: The role of good corporate governance. BRQ Business Research Quarterly, 19(2), 137–151. doi:10.1016/j.brq.2015.08.001
Royal Dutch/Shell Group. (1999). Listening and Responding The Profits & Principles Advertising Campaign. Descargado de: https://www.documentcloud.org/documents/4425677-Shell-Documents-Trove-2-10.html#document/p2/a415102
Shaw, R. (1999). Reclaiming America: Nike, clean air, and the new national activism. Los Angeles, CA: University of California Press.
Shigenaka, G. (2014). Twenty-Five Years After the Exxon Valdez Oil Spill: NOAA’s Scientific Support, Monitoring, and Research. Department of Commerce of National Oceanic and Atmospheric Administration (NOAA). Descargado de: https://response.restoration.noaa.gov/sites/default/files/Exxon_Valdez_25YearsAfter_508_0.pdf
Simons, R. (2000). Performance Measurement & Control Systems for Implementing Strategy Text & Cases. Upper Saddle River, NJ: Prentice Hall.
Sistema Integrado de Información de Comercio Exterior. (s.f.). Exportadores Peruanos [Data File]. Descargado de: http://www.perutradenow.com
Smith, D. G. (1998). The Shareholder Primacy Norm. Journal of Corporation Law, 23(2), 277-323. doi: http://dx.doi.org/10.2139/ssrn.10571
Stanton, P., y Stanton, J. (2002). Corporate annual reports: research perspectives used. Accounting, Auditing & Accountability Journal, 15(4), 478–500. doi:10.1108/09513570210440568
Stout, L. (2012). The Shareholder Value Myth. San Francisco, CA: Berrett-Koehler Publishers, Inc.
Suchman, M. C. (1995). Managing Legitimacy: Strategic and Institutional Approaches. The Academy of Management Review, 20(3), 571. doi:10.2307/258788.
The Economist, (4 de Noviembre de 2004). Corporate storytelling: non-financial accounting is now too serious to be left to amateurs. Descargado de: https://www.economist.com/leaders/2004/11/04/corporate-storytelling
Unilever. (1996). Annual Review 1995 And Summary Financial Statement. Descargado de: https://www.unilever.com/Images/annual-review-1995_tcm244-497600_1_en.pdf
White, A.L. (1999). Sustainability and the accountable corporation. Environment, 41 (8), 3–43.
Zadek, S. (2007). The civil corporation: the new economy of corporate citizenship. London, UK: Earthscan Publications.