Proposta de framework para evidenciação dos capitais propostos pelo relato integrado em cooperativas agroindustriais

Abstract

This research aims to propose a framework based on the Integrated Reporting (IR) approach for agro-industrial cooperatives, in order to generate value for stakeholders from financial, manufactured, intellectual, human, social and relationship capital, and natural. To this end, it discusses the framework elements based on the IR approach for agribusiness cooperatives and surveys the information that is disclosed by agribusiness cooperatives related to six capitals proposed by the IR approach, chosen as the standard of disclosure for issues related to Environmental Social and Governance (ESG). Subsequently, it verifies the relationship that exists between the content of the information that is disclosed by agro-industrial cooperatives, related to the six capitals proposed by the IR structure, and the performance of these organizations. Data are collected from documents on the websites of cooperatives where there is space for annual publications relating to financial, management or sustainability reports. Data from RS reports refer to the year 2020; of the financial reports, to 2019. 30 cooperatives listed in the World Cooperative Monitor (WCM) database are analyzed. For data analysis, this study uses content analysis and statistical regression analysis through the econometric model, by the Pearson correlation method or multiple regression analysis. The disclosure score of the six capitals in the Corporate Social Responsability (CSR) reports works as an independent variable; the size (measured by net income) and the indebtedness of organizations play the role of control variables. The dependent variables correspond to Return on Assets (ROA), Return on Equity (ROE) and profitability. The results show a significant relationship between the disclosure of the six capitals and the performance of cooperatives, measured by ROA, ROE and profitability. The results point to a significant relationship between the disclosure of the six capitals and the performance of cooperatives, measured by return on ROA, ROE and profitability, which ensures the proposal of the framework using the way in which the capitals were evidenced by the sample.This result reaffirms the importance of disclosure and transparency for the creation of value proposed by Stakeholders Theory (TS), the lens used for this research. The cooperative principles advocate serving the interests of various stakeholders in priority over the interests of the firm, which is very much in line with TS. This fact raises a research limitation, which requires further studies in non-cooperative agro-industrial organizations.