AN APPROACH OF THE RELATIONSHIP BETWEEN INTERNATIONALIZATION LEVEL AND ENVIRONMENTAL COMMUNICATION IN THE LARGE BRAZILIAN PUBLIC COMPANIES

Abstract

Managers and investors are getting more and more concerned with the environmental aspects of business activities and corresponding claims from different groups of stakeholders, due to their impacts on companies’ competitiveness and valuation. However, information asymmetry between stakeholders and corporate managers, together with the lack of tools to precisely translate environmental impacts into financial metrics, may bring inefficiency to decision-making process on resource allocation. The goal of this work was to identify differences in corporate environmental information disclosure due to different degrees of internationalization, among the largest Brazilian listed companies. Results were partially in line with previous researches, pointing out that companies with higher degrees of internationalization have stronger tendency to join industry committees on sustainable development and to meet the standards for environmental management certification.