O Docente do ISCAL, Carlos Pinheiro, apresentou dois trabalhos de investigação com sinopses publicadas no livro de resumos do XIII Encontro de Investigadores da Qualidade no XIII Encontro da RIQUAL, no passado dia 16 de junho na Coimbra Business School.
1. Extended abstract – “Does board connectedness influence corporate sustainability performance?” em co-autoria com os professors Andrew Clare (Bayes Business School, London, U.K.) e Alberto Franco Pozzolo (Roma Tre University, Italy). Este trabalho inscreve-se no projeto em curso financiado pela Universidade Europeia “The role and effectiveness of non-executive directors”.
To commit to responsible practices, companies require a corporate governance mechanism (Miras-Rodriguez et al., 2019; Amin et al., 2020). The board of directors is a key corporate governance mechanism, having the responsibility to monitor, control and supervise the management and operations of a company (Adams et al., 2008). As for the sustainability performance of companies, the “buck stops” with the C-suite, as directors define the rules, approve the policies and take the decisions (Díaz-Fernández, 2020; Tjahjadi et al., 2021). But, are Corporate Boards equipped to cope with the challenges posed by “the explosive growth in sustainable investments over the past decade” (Harjoto and Jo, 2011; Amin et al., 2020) and still fulfil their traditional duties spanning resource allocation and problem solving to strategy formulation (Jensen, 1993; Anderson et al., 2011)?
2. Artigo – “Does the social pillar of ESG affect technical efficiency? A Stochastic Frontier Approach” em co-autoria com o professor do ISCAL Paulo Pereira da Silva.
Abstract: Sustainability has become the new normal for value creation in the long haul, and is on the top of board agendas. We assess the relationship between the social pillar of ESG and a firm’s output gap justified by systematic inefficiency. To do so we apply a stochastic frontier model to a large sample of U.S. listed firms, spanning 2005 to 2019. Focusing on measures of companies’ management commitment and effectiveness towards catering closely to their workforce job conditions and wellbeing, we document an economically sizeable and statistically significant positive association between technical efficiency and social responsibility performance. Employee-oriented CSR practices appear to be relevant aspects in explaining the association of socially responsible practices with technical efficiency. Firm inefficiency is explained by firm specific factors and is a decreasing (increasing) function of size and external monitoring (leverage, blockholdings and foreign sales). It is mitigated by CSR practices and external governance mechanisms, as well as market surveillance. The association between CSR and technical efficiency is non-linear and varies across industry sectors. Our results should interest managers and stakeholders in general.
Carlos Pinheiro é para além de docente do ISCAL Professor associado na Universidade Europeia.
