A influência da informação Esg: Um estudo experimental sobre investimentos realizados no contexto da crise econômica causada pela pandemia da covid-19

Dimmitre Morant Vieira Gonçalves Pereira; Herbert Kimura; Jomar Miranda Rodrigues

doi:10.24883/eagleSustainable.v14i.466

Authors

Dimmitre Morant Vieira Gonçalves Pereira Universidade de Brasília (UnB), Brasilia https://orcid.org/0000-0002-9535-7883
Herbert Kimura Universidade de Brasília (UNB), Brasilia https://orcid.org/0000-0001-6772-1863
Jomar Miranda Rodrigues Universidade de Brasília (UNB), Brasilia https://orcid.org/0000-0001-5961-243X

DOI:

https://doi.org/10.24883/eagleSustainable.v14i.466

Keywords:

Sustainability, Reports, Investment Decision, ESG

Abstract

Purpose: To conduct an experimental study with Brazilian investors to investigate the impact of ESG information on investment decisions, notably information regarding worker safety measures taken by publicly traded companies to mitigate the effects of the COVID-19 pandemic during an economic crisis caused by COVID-19

Methodology/approach: The experiment involved 70 participants, divided between specialists and non-specialists in the business field, who responded to questions about fund allocation preferences when exposed to conventional and ESG information sets. T-tests and one-way ANOVA were used to test the hypotheses.

Originality/Relevance: The justification for this study lies in the need to test the findings of Belkaoui (1980) and contemporary literature on the impact of ESG disclosure in the context of a profound health, social, and economic crisis caused by the pandemic.

Key findings: In this study, it can be concluded that companies receive larger investment amounts when they disclose ESG information regarding the company’s actions in sustainability, governance, inequality reduction, and measures to address the COVID-19 pandemic, and that in the presence of ESG information, investors allocate their funds to companies with better performance in these indicators."

Theoretical/methodological contributions: The study expands the existing literature on the impact of ESG information on investment decisions. Methodologically, the hypotheses of the linguistic relativity paradigm in accounting were validated through an experiment with Brazilian investors, involving both specialists and non-specialists, allowing for a more robust analysis of perceptions regarding ESG information.

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Author Biographies

Dimmitre Morant Vieira Gonçalves Pereira, Universidade de Brasília (UnB), Brasilia

PhD Candidate and Master in Accounting from the University of Brasília (UnB), with a concentration in Public Accounting and Finance. Permanent Professor in the Bachelor’s Degree Program in Accounting Sciences at UFPB/CCAE. Former Director of Strategic Information and Risk Analysis at the Comptroller General's Office of the State of Pernambuco (SCGE) and Director of Expenditure Quality Control at the same institution. Served as a member of the Working Group for the implementation of the state cost system and as Project Manager for the Convergence Project of the Working Group on Accounting Procedures for State-Owned Enterprises and Mixed Economy Companies in the State of Pernambuco (GTCon Estatais).

Herbert Kimura, Universidade de Brasília (UNB), Brasilia

PhD in Administration from the Faculty of Economics, Administration, and Accounting at the University of São Paulo (FEA/USP), PhD in Business Administration from the São Paulo School of Business Administration at Fundação Getulio Vargas (EAESP/FGV), and PhD in Statistics from the Institute of Mathematics and Statistics at the University of São Paulo (IME/USP). He is a Full Professor at the University of Brasília (UnB) and has served as the coordinator of the Scientific and Technological Park (PCTec/UnB) and the Multi-Incubator Program.

Jomar Miranda Rodrigues, Universidade de Brasília (UNB), Brasilia

Associate Professor in the Department of Accounting and Actuarial Sciences at the University of Brasília, teaching at both undergraduate and postgraduate levels. Holds a Master’s and PhD in Accounting Sciences from the University of Brasília.

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