A influência da governança corporativa no disclosure da responsabilidade social corporativa (RSC) das companhias de capital aberto brasileiras

Abstract

Objective: to verify which corporate governance characteristics of the companies in Brasil, Bolsa, Balcão (B3), affect the decision to prepare the Sustainability Report (RS) and its respective level of disclosure. Background: the study is based on the theory of legitimacy, as the administrators of the organiza-tions seek to carry out Corporate Social Responsibility (CSR) practices and disseminate them in the RSs so that the company is perceived by the stakeholders as being legitimate. Method: the period analyzed was from 2013 to 2018, and the sample consists of 247 companies, of which 120 have RS. To achieve the objective, the models of logistic regression and linear regression were used. Results: the probability of companies adhering to the RS is positively related to the size of the board of directors and its independence, the potential for pollution and the use of natural re-sources (PURN), as well as the size of the company (TAM). The levels of disclosure of CSR are pos-itively related to the level of governance, capital concentration, PURN and TAM. Contributions: the study contributes to the literature, as it indicates that the dissemination of CSR information can be seen from two perspectives: the first is related to the dichotomous decision to elaborate or not the RS, and the results indicate that this definition is linked to the composition the board of directors; and the second refers to the extension of the disclosure, which is related to the listing segment. In addition, the research points out that PURN is another determining point in socio-environmental disclosure.