20 Pages Posted: 18 Jan 2013
Date Written: July 18, 2012
This work is aligned with the Equator Principles that are minimum criteria for granting of credit to ensure that the funded projects are developed in a socially and environmentally responsible way. The objective of this paper is to verify the relevance of social and environmental variables included in the credit analysis. The main results show the relevance of social and environmental variables for the improvement of credit score models. It might be inferred also that models should provide more robust results as the social and environmental variables are standardized and incorporated into the audited financial statements of companies.
Keywords: Brazil, Sustainability, Social Variables, Instrumental Variables, Environmental Databases, Experimental Methods, Credit Analysis, Equator Principles
JEL Classification: A13, C210, C250, C260, C360, C830, C900, G170, G210, G240, G280, M410, Q560
Suggested Citation: Suggested Citation
Perera, Luiz C. J. and Milani, Aida Maria M. and Kerr, Roberto Borges and Milani Filho, Marco Antonio F., Sustainability: Incorporating Social and Environmental Variables in the Analysis of Credit in Brazil (July 18, 2012). Available at SSRN: https://ssrn.com/abstract=2201630 or http://dx.doi.org/10.2139/ssrn.2201630