A HIPÓTESE INTEGRADORA DA GOVERNANÇA CORPORATIVA E DA RESPONSABILIDADE SOCIAL CORPORATIVA SOB O ENFOQUE DOS DIREITOS HUMANOS

A governança corporativa e a responsabilidade social corporativa são dois instrumentos que têm o caráter de atingir a excelência da organização empresarial. Por sua vez, os mesmos foram instrumentalizados como meio de proteção dos interesses dos agentes privados com vista à potencialização da sociedade empresarial, motivados pela desconfiança dos processos decisórios dos administradores societários. Posteriormente, evoluiram sob a forma de códigos de condutas, ditados pelos organismos de controle empresarial, sempre conservando o caráter voluntário de sua aceitação. Alguns objetivos sequer foram incluídos nos seus processos internos de excelência, como por exemplo os direitos humanos de determinados stakeholders. Esse ponto é o objeto principal desta investigação, que busca evidenciar a hipótese de integração da governança corporativa e da responsabilidade social corporativa sob o enfoque dos direitos humanos. § The Corporate governance and corporate social responsibility are two instruments that have the character to achieve excellence in business organization. On the other hand, they have been exploited as a way of protecting the interests of private agents for enhancement of corporate society, motivated by the distrust of the decision-making process of corporate managers. Later, it evolved in the form of codes of conduct, dictated by the bodies of corporate control, always preserving the voluntary nature of their acceptance. Some objectives were not even included in its internal process of excellence, such as the human rights of certain stakeholders. This point is the main object of this research, which seeks to demonstrate the possibility of integration of corporate governance and corporate social responsibility in the human rights perspective.

Determinants of environmental disclosure in the annual reports of large companies operating in Portugal

Similarly to what has happened in other countries, since the early 1990s Portuguese companies have developed corporate environmental reporting practices in response to internal and external factors. This paper is based on empirical research directed to both the study of environmental reporting practices developed by Portuguese companies and the identification of the factors that explain the extent to which these companies disclose environmental information. This study focuses on the environmental disclosures made in the annual reports by a sample of 109 large firms operating in Portugal during the period 2002-04. Using the content analysis technique we have developed an index in order to assess the presence of the environmental disclosures in companies’ annual reports and their breadth. Based on the extant literature, several characteristics relating to firms’ attributes were selected and their influence on the level of environmental disclosure was tested empirically. The selected explanatory variables were firm size, industry membership, profitability, foreign ownership, quotation on the stock market and environmental certification. The results reveal that, in spite of the fact that the level of environmental information disclosed during the period 2002-04 is low, the extent of environmental disclosure has increased as well as the number of Portuguese companies that disclose environmental information. Moreover, the firm size and the fact that a company is listed on the stock market are positively related to the extent of environmental disclosure. This study adds to the international research on environmental disclosure by providing empirical data from a country, Portugal, where empirical evidence is still relatively unknown, extending the scope of the current understanding of the environmental reporting practices.