Determinant Factors In The Incorporation Of Organizations To ISE


  • Adevair de Deus Ribeiro Fucape Business School
  • Bruno Funchal Fucape Business School


This article analyzes which determinant factors lead to the best chances of incorporating an organization into the Corporate Sustainability Index (ISE). Therefore, we surveyed 381 Brazilian companies with shares of B3 S.A. Brazil, Stock Exchange, Counter, from 2005 to 2015. To determine the results, we used logistic regression and applied the binary solution model PROBIT. The results indicate that the greatest chances of an organization to incorporate ISE are in investments, practices and commitment to the environment, compared to the commitment to ethics, transparency and legitimacy adopted by companies. On the other hand, the chances decrease as the capital grows in the hands of third parties.

Keywords: Corporate Governance, Environment, Corporate Sustainability Index, Institutional Theory, PROBIT model.

Author Biographies

Adevair de Deus Ribeiro, Fucape Business School

Mestre em Administração

Bruno Funchal, Fucape Business School

Doutor em Economia