Ownership structure, social, environmental and governance disclosure and information asymmetry: the Brazilian case

被引：0
|
作者：
Velho, Maria Laura Pereira [1 ]
Avila, Lucas Veiga [1 ]
Degenhart, Larissa [1 ]
Kunde, Lidiane Pasche [1 ]
机构：
[1] Univ Fed Santa Maria, Programa posgrad Ciencias Contabeis, Santa Maria, Brazil
来源：
ESTUDIOS GERENCIALES | 2024年 / 41卷 / 171期
关键词：
Ownership structure; ESG; information asymmetry; institutionalownership; INSTITUTIONAL OWNERSHIP; ESG PERFORMANCE; IMPACT; FIRM;
D O I：
10.18046/j.estger.2024.171.6493
中图分类号：
F [经济];
学科分类号：
02 ;
摘要：
This research aimed to analyze the moderating effects of ownership structure on the relationship between environmental, social, and governance (ESG) disclosure and information asymmetry in Brazilian companies. A quantitative, descriptive, and documentary study was conducted with data from 68 companies listed on the Bolsa Brasil Balcao (B3) between 2015 and 2022, tested using the one-step GMM dynamic panel system. The main findings indicate that ESG disclosure can reduce information asymmetry, while ownership concentration and institutional ownership have a positive moderating effect on this relationship. The study emphasizes the need for regulatory actions to address potential issues faced by less informed investors and improve the disclosure of ESG practices.
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页码：216 / 229
页数：14
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