Abstract

JARAMILLO-ARANGO, Mateo; RIOS-RESTREPO, Wilmar Alexander  and  CORREA-MEJIA, Diego Andrés. Impact of Environmental and Social Factors on Value Creation. Evidence from mila Companies. Rev.fac.cienc.econ. [online]. 2020, vol.28, n.2, pp.49-65.  Epub Dec 22, 2020. ISSN 0121-6805.  https://doi.org/10.18359/rfce.4033.

Managing non-financial variables for value creation is a current practice increasingly adopted by organizations. Therefore, this research paper aims to identify the effect of environmental and social variables on business value creation in companies in emerging economies. The method for validating the primary objective is panel data using two models whose dependent variables are Tobin's Q and the price-to-sales ratio as a reference to measure value creation. Forty-two companies from the member countries of the Latin American Integrated Market (MILA, for its acronym in Spanish) during 2013-2017 were considered. The analysis revealed that greenhouse gas management and women's inclusion in organization decision-making positively affect companies' value creation.

Keywords : ESG; value creation; Tobin's Q; PSR; MILA.

        · abstract in Spanish | Portuguese     · text in Spanish     · Spanish ( pdf )