Accounting

, 18

materialist dimensions of

, 29

social and environmental

, 14–15, 17–21, 23–34

Accounting, Auditing & Accountability Journal

, 2

Accounting, Organizations and Society

, 2

Accumulation of capital wealth

, 25

Advances in Environmental Accounting and Management (AEAM)

, 2, 3, 5

Agency Theory

, 70

Alyeska Pipeline Service Company

, 163

American Accounting Association

, 4

Antagonism

, 15, 17–21, 29, 30

Arthur Andersen

, 3

Associação Brasileira das Entidades dos Mercados Financeiros e de Capitais (ANBIMA, Brazilian Association of Financial and Capital Market Entities)

, 112, 140

Associação Brasileira das Entidades Fechadas e de Previdência Privada (ABRAPP, Brazilian Association of Private Pension Entities)

, 112, 140

Associação dos Analistas e Profissionais de Investimento do Mercado de Capitais (APIMEC, Association of Capital Market Investment Analysts and Professionals)

, 112, 140

Augmented Dickey–Fuller (ADF) test

, 118, 122, 123, 146, 151, 152

Australia

adherence to GRI

, 72

GHG emissions

, 4

Average difference

, 144, 149, 151, 154

Banco Nacional de Desenvolvimento Econômico e Social (BNDES, Brazil’s National Economic and Social Development Bank)

, 112

Belgium

CSR disclosure

, 72

BM&FBovespa (São Paulo Stock Exchange)

, 107, 112, 113, 116, 117, 125, 127, 135, 136, 139–143, 153

BOVESPA

, 140

Bovespa Index (IBOV)

, 10, 107, 113, 116, 117, 119–126, 136, 140, 142–144, 146–152, 154

Braskem petrochemical company disaster

, 168

Brazil

, 9–11, 15, 16, 21, 22, 136

adherence to GRI

, 72

environmental disaster’s, impact on socio-environmental disclosure and companies investments

, 159–178

Brazil 100 Index (IBrX100)

, 10, 107, 116, 117, 119–126

Brazil 50 Index (IBrX50)

, 10, 107, 112–113, 116, 117, 119–128, 136, 141, 143, 144, 146–152, 154

Brazilian Institute of Social and Economic Analyses (IBASE)

, 165

Brazilian stock market, performance of sustainability and negotiability indexes in

, 133–154

Brundtland report

, 17

Bush, George W.

, 6n1

Bush administration

, 3

Business case approach

, 27, 38–68

Business sustainability

, 111–113

Campello, Tereza

, 16

Cap-and-trade system

, 3

Capital Asset Pricing Model (CAPM)

, 115

Capitalism

, 27

Marxist critique of

, 25

Capitalist system

, 28, 32

Capital Market Line (CML)

, 115, 116

Capital-orientated actions

, 30, 31

Carbon credits

, 16

Carbon Efficient Index (Índice de Carbono Eficiente)

, 10, 135

financial performance of stocks of companies participating in

, 105–128

Carbon market

, 24

China

, 22

adherence to GRI

, 72

Chinese social accounting

, 4

Climate change

, 5

Clinton, Bill

, 6n1

Coalition for Environmentally Responsible Economies (CERES)

, 72

Consulting studies

, 30–31, 33

Content analysis

, 27, 165

Contestability

, 34

Convenient fictions

, 28–29

Corporate disclosure

, 23, 25, 27–29, 31–33

Corporate governance

, 4

Corporate Governance Stock Index (IGC)

, 142

Corporate growth

, 16

Corporate reputation

, 4

Corporate responsibility

, 14

Corporate social responsibility (CSR)

, 10, 14, 20, 21, 23, 25–27, 31, 71–72, 106, 108–111, 137–139, 154

and company performance, relationship between

, 134

disclosure

, 73–101

environmental disaster’s impact on

, 161–162

and financial performance, relationship between

, 141–142

information through GRI, disclosing

, 69–101

Corporate Sustainability Index

, 107, 112, 135

Cost–benefit analysis

, 71, 138

Critical Perspectives on Accounting

, 2

Critical theory approach

, 25, 27, 28, 38–68

CSR information through GRI, disclosing

, 69–101

audit of sustainability reports

, 91, 93–95

cost of

, 74–75

GRI application level in CSR reports, adoption of

, 88–89, 98–99

GRI reports and economic development

, 77, 80, 81

institutional environments

, 74

integrated reports, issuing

, 90, 92

larger firms versus nonbusiness organizations

, 75–76

methodology

, 76–77

organizational characteristics

, 77–83, 90, 92–99

organizations adopting, types of

, 80, 82, 95–98

quality of reporting

, 83, 85–90, 92–99

sample

, 76

size of organization

, 83, 84

status of companies

, 75, 80, 83

sustainability reports, models of

, 86–87, 92–93, 95–97

type of reports

, 90, 92, 95–98

Dialogic approaches

, 34

Disclosure

, 23, 25, 27–29, 31–33

corporate social responsibility

, 71–72

Discourse theory

, 9, 19–21, 23, 34n1

Domini 400 Social Index

, 107, 112, 135

Dow Jones Sustainability Index (DJSI)

, 112, 135

Economatica®

, 117, 143

Economic development

, 16

Economic growth

, 14

Elsevier

, 3

Emancipation

, 18, 34

Emancipatory politics

, 34

Emerging economies, and logic of development

, 21–22

Engle–Granger test

, 118, 123, 124, 146, 152

Enron

, 2–3

Environmental accounting

, 4

Environmental disaster’s, impact on socio-environmental disclosure and companies investments

, 10–11, 159–178, 181–188

Braskem petrochemical company disaster

, 168

corporate social responsibility

, 161–162

Exxon Valdez oil spill, Alaska

, 163

legitimacy theory

, 161–162

Mineração Rio Pomba Cataguases Ltda. disaster

, 167

Petrobras disaster

, 34n4, 166–167

Samarco pipeline disaster

, 167–168

Union Carbide leakage, Bhopal

, 163

Environmental disclosures

, 3

Environmental performance

, 4

Environmental protection

, 16

Environmental Protection Authorities (EPA)

, 162

European Union (EU)

, 2, 4, 5

Exxon Valdez oil spill, Alaska

, 163

Financial performance

and corporate social responsibility, relationship between

, 141–142

of stocks of companies participating in ICO2

, 105–128

France

CSR disclosure

, 72

FTSE4Good

, 112, 135

Global Reporting Initiative (GRI)

, 3, 10, 31, 72–73

CSR information through GRI, disclosing

, 69–101

guidelines

, 73

Greenhouse gas (GHG) emissions

, 2–4, 107, 112, 135, 141

Hegemony

, 14, 16, 18, 22, 23, 25, 28–33

defined

, 19

politics of

, 19–21

IBASE

, 31

ICO2

, 10, 107, 108, 112–113, 116–128, 135–137, 141, 143, 144, 146–154

as indicator of companies’ financial performance

, 113–114

India

, 22

adherence to GRI

, 72

Índice de Sustentabilidade Empresarial (ISE)

, 107, 112, 113, 135–137, 139, 141–143, 147, 151, 153, 154

Institutional theory

, 72, 74

Instituto Brasileiro de Governança Corporativa (IBGC, Brazilian Institute of Corporate Governance)

, 112, 140

Instituto de Fiscalização e Controle (IFC, Institute of Oversight and Control)

, 112, 140

Instituto Ethos (Ethos Institute)

, 31, 112, 137, 140

Intergenerational justice

, 111, 138

Intergovernmental Panel on Climate Change (IPCC)

, 5

International Integrated Reporting Council (IIRC)

, 24

Intra-generational justice

, 111, 138

Jarque–Bera test

, 118, 120, 121, 147, 148

Jensen’s alpha. See Jensen Ratio (JR)

Jensen Ratio (JR)

, 116, 118, 123, 126–128

Johannesburg Socially Responsible Index (SRI)

, 112

Justice

, 72

intra-generational

, 111, 138

intergenerational

, 111, 138

social

, 20

Kruskal–Wallis (KW) test

, 118, 121

Kwiatkowski–Phillips–Schmidt–Shin (KPSS) test

, 118, 122, 123, 146, 151, 152

Kyoto Protocol

, 2, 4, 6n1

Latin America

, 136

Legitimacy theory

, 2, 29, 30, 72, 74, 161–162

Levene test

, 118, 121

Liquidez em Bolsa

, 117

Logic of development, emerging economies and

, 21–22

Loyalty

, 72

Mann–Whitney test

, 145–146, 149

Market

carbon

, 24

index

, 139, 148

Marxist critique of capitalism

, 25

Materialism

, 34

Materialist dimensions of accounting

, 29

Mineração Rio Pomba Cataguases Ltda. disaster

, 167

Ministério do Meio Ambiente (Ministry of Environment)

, 112, 140

Mystification

, 25, 27

National Bank for Economic and Social Development (BNDES)

, 141

Negotiability indexes

, 139–141

New York Stock Exchange

, 112, 135

Obama, Barack

, 6n1

Organization for Economic Co-Operation and Development (OECD)

, 77, 80, 90, 92–93, 100

Organizations, disclosing CSR information through GRI

characteristics of

, 77–83, 90, 92–99

nonbusiness

, 75–76

size of

, 83, 84

types of

, 80, 82, 95–98

Other(ness)

, 20

Petrobras disaster

, 34n4, 166–167

Phillips–Perron (PP) test

, 118, 122, 123, 146, 151, 152

Portugal

CSR disclosure

, 72

Post-structuralism

, 14, 17, 18, 23, 25, 34n1

Renewable energy

, 3

Reputation

, 74

Responsibility

, 15

Samarco pipeline disaster

, 167–168

São Paulo Stock Exchange (BM&FBovespa)

, 10

Sarbanes–Oxley Act

, 3

Scielo

, 23

Scientific Periodicals Electronic Library (SPELL)

, 34n2

Securities and Exchange Commission (SEC)

, 4

Security Market Line (SML)

, 115

Shareholder Theory

, 108–111, 138

Sharpe Ratio (ShR)

, 115, 118, 125–127

Sistema Especial de Liquidação e Custodia (SELIC)

, 117

Social action

, 74, 80, 100

Social and environmental accounting (SEA)

, 9, 14–15, 17–21, 23–34, 34–35n2

as measurement

, 28

mechanisms of

, 28

disclosure

, 23, 25, 27–29, 31–33

Social balance

, 34n3

Social development

, 16

Social justice

, 20

Social participation

, 14

Socio-environmental disclosure/investments, environmental disaster’s impact on

, 159–178

Special Clearance and Escrow System

, 117

Spell

, 23

Stakeholder–accountability approach

, 24–27, 38–68

Stakeholder Theory

, 70–72, 106–107, 108–111, 138, 162

dimensions of

, 109

Stock exchange markets

, 75

Stocks

of companies participating in ICO2, financial performance of

, 105–128

return

, 136, 141–144, 153, 154

Sustainability

, 3–4, 5, 14–25, 27–34, 70

business

, 111–113

indices

, 105–128, 139–141

“re-articulation” or “redescription” of

, 17–18

reports, audit of

, 91, 93–95

reports, models of

, 86–87, 92–93, 95–97

as social construct

, 17

Sustainable development

, 14–18, 25, 26, 31, 106, 111

defined

, 15

Tautology

, 27

Technological innovation

, 24

Theory of social accounting

, 4

Treynor Ratio (TR)

, 115, 118, 123, 125–128

Triple Bottom Line (TBL) concept

, 111–113, 139, 153

Tyco International

, 2

Union Carbide leakage, Bhopal

, 163

United Nations Environment Programme (UNEP)

, 72

United States

, 2, 3, 5, 6n1, 22, 135

adherence to GRI

, 72

GHG emissions

, 4

Volume Médio

, 117

Voluntary disclosure theory

, 2

Wilcoxon–Mann–Whitney test

, 118, 121, 122

Wilcoxon test

, 145, 149

WorldCom

, 2