Revista de Economia e Sociologia Rural
https://revistasober.org/article/doi/10.1590/1806-9479.2020.206169
Revista de Economia e Sociologia Rural
ARTIGO ORIGINAL

A relação entre a responsabilidade social e ambiental e a performance financeira na produção agropecuária: o caso da política de crédito de uma instituição financeira

The relationship between social and environmental responsibility and financial performance in agricultural production: the case of a financial institution's credit policy

Dienice Ana Bini; Sílvia Helena Galvão de Miranda; Luís Fernando Guedes Pinto; Carlos Eduardo de Freitas Vian; Luiz Fernando do Amaral

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Resumo

Este artigo examina a relação entre responsabilidade social e ambiental e performance financeira de propriedades rurais brasileiras, no período de 2009 a 2013, por meio da análise de regressão logística ordenada. O estudo considera quatro medidas representativas da RSA: índice social, índice de destinação de resíduos, índice de cumprimento ambiental e índice de manejo sustentável. A performance financeira foi medida pela capacidade de pagamento, solvência e liquidez das propriedades. A amostra é composta de 1.056 observações que compõem um banco de dados primários. Todas as medidas de performance social e ambiental foram significativas, ou seja, estão associadas positivamente a pelo menos uma medida de performance financeira. Contudo, após o controle de autosseleção, o indicador social mostrou uma certa instabilidade, passando a apresentar uma relação negativa com a performance financeira – pior desempenho social associado a melhor solvência. Os resultados gerais da pesquisa demonstram que RSA não compromete a PF para a amostra de propriedades rurais estudada. A verificação inversa, quando a variável socioambiental é a dependente, mostrou uma relação positiva entre performance financeira e status socioambiental das propriedades. Os resultados gerais da pesquisa demonstram que RSA não compromete a PF para a amostra de propriedades rurais estudada.

Palavras-chave

responsabilidade social, responsabilidade ambiental, capacidade de pagamento, liquidez, solvência

Abstract

This paper aimes to examine the relationship between social and environmental responsibility and Financial Performance of Brazilian farms from 2009 to 2013 by the logistic regression analysis. This study considers four disaggregated RSA measures: social index, waste disposal index, environmental compliance index and sustainable management index. The financial performance was measured by the farms ability to pay, solvency and liquidity. The sample comprises 1,056 observations creating a primary database. The results of the estimates show that a better socio-environmental status (SS) is associated with a better financial performance and similar effects for each of the disaggregated RSA measures. Overall, all social and environmental performance measures were significant for at least one FP measure. The social indicator showed certain instability after the self-selection control, presenting a negative relation with the financial performance, which means the worse social performance associated with better solvency. This result reveals a situation whichthe positive effects of environmental aspects are more noticeable than social factors are. The inverse verification showed a positive relation between the financial performance and socioenvironmental status. The general results show that RSA does not compromise the PF for the sample of rural properties studied.

Keywords

social responsibility, environmental responsibility, payment ability, liquidity, solvency

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Submetido em:
01/07/2018

Aceito em:
29/12/2019

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