Sustainable Practices and Financial Performance in Latin America: An Analysis of Environmental Scores
| dc.creator | Ospina-Patiño, Camila | |
| dc.creator | González-Ruiz, Juan David | |
| dc.creator | Marín-Rodríguez, Nini Johana | |
| dc.date | 2023-09-30 | |
| dc.date.accessioned | 2025-10-01T23:49:12Z | |
| dc.description | Purpose: This study explored the relationship between environmental scores and financial performance in Latin American firms. Design/Methodology: Using a dataset encompassing 1 708 observations from 372 firms between 2015 and 2020, this study employed panel data analysis to investigate the relationship between environmental scores and Return on Assets (ROA). Findings: The empirical findings indicate that the current environmental performance in Latin America has a limited impact on firms’ financial performance. However, positive results were observed in Brazil, Mexico, and Chile, where environmental practices and financial outcomes have been successfully integrated. Conclusions: By examining the influence of Environmental, Social, and Governance (ESG) scores, particularly environmental scores, on ROA in Latin American firms, this study contributes to better understanding the complex relationship between sustainability and financial performance in the region. In addition, it underscores both the challenges and opportunities that Latin American firms face in aligning environmental performance with profitability. According to the findings, enhanced strategies and mechanisms should be developed to bridge the gap between environmental and financial outcomes. While Latin America has made progress in establishing consensus on environmental practices, there remains a pressing need to develop robust strategies that effectively integrate sustainability and profitability. Originality: This study provides valuable insights for policymakers, investors, and firms seeking to navigate the interplay between sustainability and financial success in Latin America. | en-US |
| dc.description | Objetivo: En este estudio, se investigó la relación entre las calificaciones ambientales y el desempeño financiero de las empresas latinoamericanas. Diseño/Metodología: Partiendo de un conjunto de datos que abarcó 1 708 observaciones de 372 empresas entre 2015 y 2020, este estudio utilizó datos de panel para analizar la relación entre las calificaciones ambientales y la rentabilidad de los activos. Resultados: Según los hallazgos empíricos, el impacto del actual desempeño ambiental en América Latina sobre el desempeño financiero de las empresas de la región es limitado. A pesar de ello, se observaron resultados positivos en Brasil, México y Chile, donde se destaca la exitosa integración de prácticas ambientales y resultados financieros. Conclusiones: Gracias al análisis del impacto de las calificaciones ambientales, sociales y de gobernanza—en particular las ambientales—sobre la rentabilidad de los activos de las empresas latinoamericanas, este estudio contribuye a una comprensión más profunda de la compleja relación entre la sostenibilidad y el desempeño financiero en la región. Además, destaca los retos y oportunidades que las empresas latinoamericanas enfrentan al momento de alinear su desempeño ambiental con su rentabilidad. De igual forma, pone de manifiesto la necesidad de desarrollar estrategias y mecanismos más efectivos para reducir la brecha entre los resultados en materia ambiental y financiera. A pesar de los avances logrados en América Latina en la consolidación de prácticas ambientales, persiste la apremiante necesidad de crear estrategias sólidas que integren de manera eficiente la sostenibilidad y la rentabilidad. Originalidad: Este estudio ofrece valiosas orientaciones para los responsables del diseño de políticas, inversionistas y empresas que desean comprender la interacción entre la sostenibilidad y el éxito financiero en América Latina. | es-ES |
| dc.format | application/pdf | |
| dc.format | application/zip | |
| dc.format | text/xml | |
| dc.format | text/html | |
| dc.identifier | https://revistas.itm.edu.co/index.php/revista-cea/article/view/2792 | |
| dc.identifier | 10.22430/24223182.2792 | |
| dc.identifier.uri | https://hdl.handle.net/20.500.12622/7132 | |
| dc.language | eng | |
| dc.publisher | Instituto Tecnológico Metropolitano - ITM | es-ES |
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| dc.rights | Derechos de autor 2023 Camila Ospina-Patiño, Juan David González-Ruiz, Nini Johana Marín-Rodríguez | es-ES |
| dc.rights | https://creativecommons.org/licenses/by-nc-sa/4.0 | es-ES |
| dc.source | Revista CEA; Vol. 9 No. 21 (2023); e2792 | en-US |
| dc.source | Revista CEA; Vol. 9 Núm. 21 (2023); e2792 | es-ES |
| dc.source | 2422-3182 | |
| dc.source | 2390-0725 | |
| dc.subject | environmental performance | en-US |
| dc.subject | Latin America | en-US |
| dc.subject | financial performance | en-US |
| dc.subject | ESG score | en-US |
| dc.subject | panel data | en-US |
| dc.subject | ROA | en-US |
| dc.subject | desempeño ambiental | es-ES |
| dc.subject | América Latina | es-ES |
| dc.subject | desempeño financiero | es-ES |
| dc.subject | puntuación ESG | es-ES |
| dc.subject | datos de panel | es-ES |
| dc.subject | rentabilidad de los activos | es-ES |
| dc.title | Sustainable Practices and Financial Performance in Latin America: An Analysis of Environmental Scores | en-US |
| dc.title | Prácticas sostenibles y desempeño financiero en Latinoamérica: un análisis de las calificaciones ambientales | es-ES |
| dc.type | info:eu-repo/semantics/article | |
| dc.type | info:eu-repo/semantics/publishedVersion |
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