1,720,956 research outputs found
Resiliência financeira e responsabilidade social corporativa
Get PDFOrientador: Prof. Dr. Romualdo Douglas ColautoTese (doutorado) - Universidade Federal do Paraná, Setor de Ciências Sociais Aplicadas, Programa de Pós-Graduação em Contabilidade. Defesa : Curitiba, 14/12/2023Inclui referênciasResumo: A presente pesquisa teve como objetivo analisar os efeitos da relação entre resiliência financeira e o valor de empresa, moderados pelo ESG Score, em período de enfrentamento de evento inesperado para empresas brasileiras de capital aberto. Nesse estudo, a resiliência financeira foi considerada como a capacidade das organizações em resistir e se adaptar aos efeitos de um evento adverso, de uma ruptura ou de um choque inesperado. Apesar de interrupções internas ou externas (sudden stops), uma organização resiliente financeiramente pode manter suas funções ou então, responder essa ruptura, retornando ao seu estado original ou se mover para um estado novo mais considerável. Fundamentada nesses constructos, elaborei métricas quantitativas financeiras que representassem idoneamente cada construto com a finalidade de abordar de modo integral os aspectos que estruturam a resiliência financeira. Por meio dos resultados provenientes das métricas quantitativas, as observações foram classificadas em quintis, e posteriormente qualificadas em três níveis de resiliência financeira, reduzida, moderada e forte. Na segunda etapa, utilizei o método da regressão logit multinomial para avaliar a relação entre cada nível de resiliência financeira e suas cinco dimensões (robustez, capacidade antecipatória, conscientização, flexibilidade e capacidade de recuperação). A predição do modelo obtida para as três categorias qualitativas de resiliência financeira demonstrou uma probabilidade de 86,63% para a categoria reduzida, 71,14% para a moderada e 79,67% para a categoria forte; refletindose em uma acurácia geral de 76,06%. A terceira etapa foi o ponto fundamental dessa tese, pois investigou os efeitos moderadores do ESG score na relação entre valor de mercado e os três níveis de resiliência financeira. Por meio da regressão multivariada de dados longitudinais sob o estimador de efeitos fixos robustos, os achados desse estudo revelaram que os efeitos moderadores do ESG Score intensificaram a relação entre a resiliência financeira e o valor de mercado da empresa até determinado ponto de investimento nas práticas de ESG. Sendo que a intensidade maior ocorreu para as empresas resilientes moderadamente, seguido das empresas com resiliência reduzida e por último as empresas de nível forte para resiliência financeira. No entanto, o efeito positivo ocorreu com os níveis reduzido e moderado de resiliência financeira, enquanto para o nível forte o efeito foi negativo. Esse achado revelou que há um ponto optimal para o investimento em ESG, e que uma vez superado esse ponto os custos adicionais se tornaram mais altos que os benefícios do investimento. A presença de uma relação inversa entre resiliência financeira forte e o valor de mercado quando moderado pelo desempenho do índice de ESG envolve uma situação de trade-off perante dois objetivos. Por um lado, as ações gerenciais que buscam tornar as organizações resilientes financeiramente perante a eventos inesperados a fim de garantir a continuidade das operações e a criação de valor da empresa, de outro o investimento adequado necessário para o desempenho do índice de ESG ancorado nas práticas ambientais, sociais e de governança. A gestão desse trade-off é uma função que requer uma estratégia dinâmica. As principais contribuições desse estudo são a construção teórica-empírica do índice de resiliência financeira em três níveis de intensidade envolvendo métricas quantitativas relacionadas aos construtos das dimensões de resiliência e a demonstração de que os investimentos em ESG Score auxiliam as empresas no enfrentamento de adversidades e choques inesperados ao intensificar as ações financeiras resilientes das empresas. Contudo, as empresas consideradas de nível forte em resiliência financeira necessitam observar que os custos envolvidos no desempenho do ESG score não superem seus benefícios a ponto de reduzir o nível forte de resiliência e o valor da empresa.Abstract: The present research aimed to analyze the effects of the relationship between financial resilience and company value, moderated by the ESG Score, when facing an unexpected event for publicly traded Brazilian companies. In this study, financial resilience was considered as the ability of organizations to resist and adapt to the effects of an adverse event, disruption, or unexpected shock. Despite internal or external interruptions (sudden stops), a financially resilient organization can maintain its functions or respond to this disruption by returning to its original state or moving to a new, more considerable state. Based on these constructs, I developed quantitative financial metrics that adequately represented each construct to address the aspects that structure financial resilience comprehensively. Using the results from quantitative metrics, observations were classified into quintiles and subsequently classified into three levels of financial resilience: reduced, moderate, and strong. In the second stage, I used the multinomial logit regression method to evaluate the relationship between each level of financial resilience and its five dimensions (robustness, anticipatory capacity, awareness, flexibility, and recovery capacity). The model prediction obtained for the three qualitative categories of financial resilience demonstrated a probability of 86.63% for the reduced category, 71.14% for the moderate category, and 79.67% for the strong category, resulting in an overall accuracy of 76.06%. The third stage was the fundamental point of this thesis, as it investigated the moderating effects of the ESG score on the relationship between market value and the three levels of financial resilience. Through multivariate regression of longitudinal data using the fixed robust impact estimator, this study's findings revealed that the ESG Score's moderating effects intensified the relationship between financial resilience and the company's market value up to a certain point of investment in management practices. ESG. The most incredible intensity occurred for moderately resilient companies, followed by companies with reduced and strong financial resilience. However, the positive effect happened with the low and moderate levels of financial resilience, while for the intense level, the effect was negative. This finding revealed an optimal point for investing in ESG, and once this point is exceeded, the additional costs become higher than the benefits of the investment. The presence of an inverse relationship between strong financial resilience and market value when moderated by the performance of the ESG index involves a trade-off situation facing two objectives. On the one hand, managerial actions that seek to make organizations financially resilient in the face of unexpected events to guarantee the continuity of operations and the creation of value for the company; on the other, the adequate investment necessary for the performance of the ESG index anchored in practices environmental, social and governance. Managing this trade-off is a function that requires a dynamic strategy. The main contributions of this study are the theoretical-empirical construction of the financial resilience index at three levels of intensity involving quantitative metrics related to the constructs of resilience dimensions and the demonstration that investments in ESG Score help companies in facing adversities shocks and unexpected events by intensifying companies’ resilient financial actions. However, companies with a strong level of financial resilience need to ensure that the costs involved in performing the ESG score do not outweigh its benefits to the point of reducing the strong level of resilience and the company's value
As Controvérsias ESG Influenciam o Valor das Empresas? Uma Análise com Dados Longitudinais em Diferentes Países
Get PDFThis study aims to analyze the influence of ESG controversies on the value of companies. Annual data from 6,325 companies from 61 countries between 2002 and 2020 were analyzed. In the econometric model developed, the indices prepared by Refinitiv®, made available through the Eikon platform, were used as ESG controversies, in addition to the three variables as proxies of company value: Tobin’s Q, Market-to-Book, and Market Capitalization. The results indicate a negative relationship between ESG controversies, and the value of companies measured by Tobin’s Q and Market Capitalization proxies. Considering that the value of a firm represents the estimation of returns, our findings corroborate the view that controversies produce negative effects on the evaluation of future results. It contributes to the literature by demonstrating that ESG controversies affect companies based on global analysis and a deepening understanding of the impacts of corporate irregularities.Esta pesquisa tem por objetivo analisar a influência das controvérsias ESG no valor das empresas. Foram analisados os dados anuais de 6.325 empresas de 61 países no período de 2002 a 2020. No modelo econométrico desenvolvido utilizaram-se como controvérsias de ESG os índices elaborados pela Refinitiv® e disponibilizados por meio da plataforma Eikon, além das três variáveis como proxy de valor da empresa: Q de Tobin, Market-to-Book e Capitalização de Mercado. Os resultados indicam uma relação negativa entre as controvérsias ESG e o valor das empresas mensurado pelas proxies Q de Tobin e Capitalização de Mercado. Considerando que o valor de uma firma representa a estimação de retornos, os achados corroboram a visão de que as controvérsias produzem efeitos negativos nas avaliações dos resultados futuros. Contribui-se com a literatura ao demonstrar que as controvérsias ESG produzem efeitos para a empresas a partir de uma análise a nível global, além aprofundar entendimentos sobre os impactos das irregularidades corporativas
Going Beyond Counting First Authors in Author Co-citation Analysis
Get PDFThe present study examines one of the fundamental aspects of author co-citation analysis (ACA) - the way co-citation
counts are defined. Co-citation counting provides the data on which all subsequent statistical analyses and mappings
are based, and we compare ACA results based on two different types of co-citation counting - the traditional type that
only counts the first one among a cited work's authors on the one hand and a non-traditional type that takes into
account the first 5 authors of a cited work on the other hand. Results indicate that the picture produced through this non-traditional author co-citation counting contains more coherent author groups and is therefore considerably clearer. However, this picture represents fewer specialties in the research field being studied than that produced through the traditional first-author co-citation counting when the same number of top-ranked authors is selected and analyzed. Reasons for these effects are discussed
Variations on the Author
Get PDF“Variations on the Author” discusses two of Eduardo Coutinho’s recent films (Um Dia na Vida, from 2010, and Últimas Conversas, posthumously released in 2015) and their contribution to the general question of documentary authorship. The director’s filmography is characterized by a consistent yet self-effacing form of authorial self-inscription: Coutinho often features as an interviewer that rather than express opinions propels discourses; an interviewer that is good at listening. This mode of self-inscription characterizes him as an author who is not expressive but who is nonetheless markedly present on the screen. In Um Dia na Vida, however, Coutinho is completely absent form the image, while Últimas Conversas, on the contrary, includes a confessional prologue that moves the director from the margins to the center of his films. This article examines the ways in which these works stand out in the filmography of a director who offers new insights into the notion of cinematic authorship
Appropriate Similarity Measures for Author Cocitation Analysis
Get PDFWe provide a number of new insights into the methodological discussion about author cocitation analysis. We first argue that the use of the Pearson correlation for measuring the similarity between authors’ cocitation profiles is not very satisfactory. We then discuss what kind of similarity measures may be used as an alternative to the Pearson correlation. We consider three similarity measures in particular. One is the well-known cosine. The other two similarity measures have not been used before in the bibliometric literature. Finally, we show by means of an example that our findings have a high practical relevance.information science;Pearson correlation;cosine;similarity measure;author cocitation analysis
Dispelling the Myths Behind First-author Citation Counts
Get PDFWe conducted a full-scale evaluative citation analysis study of scholars in the XML research field to explore just how different from each other author rankings resulting from different citation counting methods actually are, and to demonstrate the capability of emerging data and tools on the Web in supporting more realistic citation counting methods. Our results contest some common arguments for the continued
use of first-author citation counts in the evaluation of scholars, such as high correlations between author rankings by first-author citation counts and other citation
counting methods, and high costs of using more realistic citation counting methods that are not well-supported by the ISI databases. It is argued that increasingly available digital full text research papers make it possible for citation analysis studies to go beyond what the ISI databases have directly supported and to employ more
sophisticated methods
koamabayili/VECTRON-author-checklist: VECTRON author checklist
No full textWe have done our best to complete the author checklist relating to the use of animals in the hut study. Note that the objective for the hut study was to evaluate the IRS treatment applications for residual efficacy against Anopheles mosquitoes, including the local An. coluzzii mosquito population. Cows were only used to attract mosquitoes into the huts and no tests were carried out directly on the cows. The author checklist is intended for use with studies where experiments are carried out on animals, which is why we have had such difficulty in completing this for the hut study, as many of the questions do not relate to how the cows were used
Author-wise bibliometric analysis based on entropy.
No full textAuthor-wise bibliometric analysis based on entropy.</p
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