Sustentabilidade e intangibilidade de empresas listadas na BM&FBOVESPA

Abstract

Companies are guiding their business strategy also for the social and environmental aspects involving the organization. The search for sustainability and managing their various resources (tangible and intangible) become criteria of differentiation in business and corporate performance, which are determinants of gain and competitive advantage, as precepts of Resource-Based View. In this perspective, the present study aims to investigate the relationship between the sustainability and the indicators intangibility of companies that participate in the activity sectors represented in the Index Sustainability Corporate BM&FBovespa's. The intangibility of companies is measured by the indicator Degree of Intangibility (GI) and sustainability performance of companies is assessed taking into account the key indicators disclosed by companies on sustainability reporting, GRI. We analyzed 77 public companies listed in BM&FBovespa would publish their reports sustainability's, on the GRI model, 2012. For the data collected were used the tools descriptive statistics, evaluation of advanced with Macbeth approach, correlation and differences between means tests. From the results, it can be inferred that there is a significant relationship between the variables GSC and GI, presenting a positive and weak correlation. Trough the differences between means test (Mann-Whitney), it was found that no statistically significant difference between the means of the GI in the two groups studied companies (participants ISE and non-participants ISE).