A influência do índice de governança corporativa para o critério novo mercado (IGC-NM) da bolsa de valores (B3) sobre o desempenho financeiro das empresas lista das no período de 2022 a 2023.

Abstract

This paper aims to analyze how the Corporate Governance practices included in the Corporate Governance Index (IGC) for the Novo Mercado (NM) criteria influenced the financial performance of companies listed in this index in 2022 and 2023. The investigation of this topic was supported by a consistent theoretical framework that explains the growing relevance of corporate governance and sustainability practices in the Brazilian business environment. In addition, the research demonstrates that corporate governance goes beyond a set of rules, being fundamental to the financial health and longevity of organizations, by promoting transparency, responsibility and trust among stakeholders, such as investors and employees. As well as the integration of environmental, social and governance (ESG) factors into business strategies, this aspect is discussed in light of the influences of market leaders, such as Larry Fink, CEO of BlackRock, who argues that companies committed to the impact of their activities tend to be more resilient and financially robust. In methodological terms, this research is configured as case studies of five companies, namely Vale, WEG, Banco do Brasil, SABESP and B3 that are part of the Corporate Governance Index for the Novo Mercado criterion (IGCNM) calculated by B3. Within the scope of these companies, the aim is to answer the problem question of the study, which consists of investigating whether the Corporate Governance Index for the Novo Mercado criterion (IGC-NM) of the Stock Exchange, B3, exerts any type of influence on the financial performance of listed companies in the period from 2022 to 2023. The results show that the adoption of good governance practices in these companies strengthens investor confidence and promotes a more responsible corporate environment. Corporate governance criteria related to transparency in the disclosure of financial and non financial information, as well as diversity on boards of directors and the presence of independent directors, are pointed out as factors that enrich the decision-making process and improve risk management. This is because the research showed a direct relationship between the adoption of governance practices and the financial performance of the companies surveyed. This shows their credibility with their customers, in addition to the security in decision-making by their administrative managers, thus reducing market and governance risks.