Remuneração executiva e sustentabilidade : uma análise contingencial com base no ciclo de vida organizacional
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Data
2026-02-13
Autores
Rocha, Luan Gomes
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Universidade Federal do Espírito Santo
Resumo
Executive compensation has been recognized as an important mechanism to align managers’ interests with corporate sustainability goals. However, the effectiveness of this mechanism may be affected by the organizational life-cycle stage at which firms operate. Therefore, this study aims to examine the association between executive compensation and ESG (Environmental, Social, and Governance) performance, while accounting for the specificities of the different stages of the organizational life cycle. The sample comprises 9,674 observations from 2,094 firms belonging to BRICS countries. The study adopts a quantitative approach, with data analyzed using an OLS regression model with robust standard errors clustered by industry. The results indicate that executive compensation is positively associated with ESG performance, though the strength of this relationship varies across life cycle stages. This association is more pronounced in the maturity stage and weaker in the introduction and decline phases. Among the ESG pillars, the social dimension showed the highest sensitivity to executive compensation. The findings strengthen both the theoretical and practical understanding of the relationship between compensation and corporate sustainability, providing useful evidence for aligning business policies with ESG objectives
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Desempenho ESG , Remuneração executiva , Ciclo de vida , Teoria da Agência-Stakeholder , BRICS , ESG Performance , Executive Compensation , Organizational Life Cycle , Agency Stakeholder Theory