Corporate governance aspects in sustainability and performance assessment models for energy companies: a systematic review of the literature

Couto, Ayrton Benedito Gaia do; Rangel, Luís Alberto Duncan

doi:10.1590/1806-9649-2022v29e4322

Cited by 3 publications

(3 citation statements)

References 23 publications

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“…Works like Alsmady (2023) scrutinize the impact of corporate governance or its individual attributes on specific measures related to earnings quality. In the realm of the electricity industry, prior studies offer evidence on how governance practices contribute to improved company performance (Couto & Rangel, 2023).…”

Section: Electric Power Industry and Hypothesis Developmentmentioning

confidence: 99%

Agency costs and conditional conservatism of public companies in the Brazilian electric industry

Souza de Souza,

Bezerra Morais

2024

SUMNEG

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Introduction / objective: In organisations, conflicts of interest give rise to agency costs aimed at mitigating agent opportunism. High-quality accounting information reduces these conflicts by minimising information asymmetry. Consequently, this study aims to investigate the relationship between agency costs and conditional conservatism in Brazilian electric power industry companies listed on the B3. Methodology: Data from 21 Brazilian electric power industry companies for the period 2012 to 2020 were utilised. Twenty-four attributes associated with agency costs were analysed, and Ball and Shivakumar’s (2005) conditional conservatism model was employed as a measure of accounting information quality. Panel data regression models were used to obtain the results. Results: According to the central conditional conservatism model, companies tend to exhibit optimism rather than conservatism, anticipating gains instead of losses. Results, assessed across five dimensions, revealed that factors such as board composition, variable compensation, and agreements with shareholders reduce optimism, while qualified audits, longer tenures, and the presence of a permanent audit committee increase optimism. Therefore, attributes that influence optimism, accounting information neutrality, and consequently, financial reporting quality, are identified. Conclusions: This study benefits various users of accounting information. Investors can pinpoint governance policies that align interests, regulators can enhance oversight, and organisation members can adopt policies that encourage the alignment of interests between principals and agents.

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Section: Electric Power Industry and Hypothesis Developmentmentioning

confidence: 99%

Agency costs and conditional conservatism of public companies in the Brazilian electric industry

Souza de Souza,

Bezerra Morais

2024

SUMNEG

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“…The calls for green innovation and development necessitate immediate action, and sustainability is a crucial concern (Zhang, Rong & Ji, 2019). According to Couto and Rangel (2023) and Da Fonseca (2015), the 17 Sustainable Development Goals (SDGs) promoted by the United Nations (UN) aim to balance economic, social, and environmental developments while addressing the needs of current and future stakeholders and ensuring a better and more sustainable future for all. Indonesia, as a member of the Paris Agreement, has set the target for reducing carbon emissions at 41% by 2030 (Bappenas, 2017).…”

Section: Introductionmentioning

confidence: 99%

The mediation effect of firm performance on the association between Two-tier Independent Boards and Green Innovation Practices: evidence from Indonesia

Mahsina,

Soewarno

2024

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Purpose: This research examines the role of firm performance in the effect of a two-tier independent board on green innovation practices.Design/methodology/approach: This study employs a simple mediation model-4 using the Hayes Process approach to OLS regression with the R package. The dataset uses a total 518 public companies listed on the Indonesia Stock Exchange for 2017 to 2019, having 1,554 firm-year observations. Findings: The study revealed, based on the two-tier system, the role of a composite independent board on firm performance and green innovation is positive and significant. However, individual results for both independent commissaries and directors in terms of firm performance and green innovation practices are not significant. This result implies that a composite of independent boards is essential to reduce and mitigate the failure of corporate governance.Research limitations/implications: This research only applied a sample of companies from one country which adopted two-tier system. Future research might apply as a comparative analysis of those countries group with two-tier system versus countries group with one-tier system.Practical implications: First, companies need to enhance the knowledge and expertise of both independent directors and independent commissaries to improve their roles. Second, it is important to provide support for the campaign and incentives for green innovation practices. Third, insight drawn from this study leads to the latest regulation from the Financial Services Authority (as the representative of the Indonesian government), whereby independent directors are no longer mandatory for publicly listed companies starting in December 2021 and must be evaluated because the composite independent board is an effective tool to execute green projects and to accelerate the SDG agenda in 2030.Social Implications: The social implication of this study is companies’ awareness to produce more eco-based products, which are expected by stakeholders, can be actualized. Also, public perception shows companies with green products have better performance.Originality/value: This research is the first study examining the mediating role of firm performance on the effect of a two-tier independent board on green innovation practices. Second, this study introduces the latest methodology for the simple mediation model using a Hayes-based approach in the field of accounting with an open-source software R package.

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“…Montoro, 2020). Aspectos de governança, como liderança, estabelecimento de uma cultura de sustentabilidade, alinhamento estratégico dos programas da empresa e direção transparente, como exemplos, contribuem para a sustentabilidade organizacional e bom desempenho (COUTO;RANGEL, 2023).…”

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Práticas de governança corporativa adotadas pelas empresas do agronegócio listadas na B3

Lavi,

Silva,

Lerner

2024

Ágora : rev. divulg. cient.

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Este estudo objetivou identificar as principais práticas de governança corporativa adotadas pelas empresas do agronegócio listadas na B3 em 2021. A amostra compreendeu 32 companhias do setor, subdivididas em primário (15), agrosserviços (12) e agroindústria (5). Analisou-se a adesão às 54 práticas recomendadas pelo Código de Governança da B3. O segmento de agrosserviços apresentou maior percentual médio de adoção (65%), seguido por agroindústria (53%) e primário (51%). A empresa com maior conformidade atingiu 89% de aplicação das recomendações. Ao mapear detalhadamente as práticas mais adotadas, como separação dos cargos de presidente e CEO (84%), e menos observadas, a exemplo da limitação de acordos de acionistas (13%), a pesquisa contribui para fomentar melhorias e maior engajamento do setor com os princípios de equidade, transparência e responsabilidade corporativa preconizados pelas melhores práticas de governança. Sua principal contribuição reside em evidenciar o estágio atual de adoção dessas práticas pelas companhias do agronegócio, setor de elevada importância econômica e impacto socioambiental, permitindo que investidores, sociedade civil e órgãos reguladores avaliem o real comprometimento com a governança corporativa e a adoção de condutas éticas e sustentáveis. Palavras-Chave: Agrosserviço. Agroindústria. Novo Mercado. Bolsa de Valores. Sustentabilidade.

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Corporate governance aspects in sustainability and performance assessment models for energy companies: a systematic review of the literature

Cited by 3 publications

References 23 publications

Agency costs and conditional conservatism of public companies in the Brazilian electric industry

Agency costs and conditional conservatism of public companies in the Brazilian electric industry

The mediation effect of firm performance on the association between Two-tier Independent Boards and Green Innovation Practices: evidence from Indonesia

Práticas de governança corporativa adotadas pelas empresas do agronegócio listadas na B3

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