Abstract

AMARAL, Alexandre Cintra do et al. Creating shareholder value through ISO 14000 certification: a multiple cases study. Rev. Portuguesa e Brasileira de Gestão [online]. 2011, vol.10, n.1-2, pp.37-47. ISSN 1645-4464.

The purpose of this paper was to verify the impact of ISO 14000 certification in creating shareholder value in Brazilian public companies. The indicator Total Shareholder Return (TSR) was used to measure the creation of shareholder value. Several authors consider it the best indicator of the creation of shareholder value. The IBOVESPA index stock exchange (BOVESPA) was used as benchmark. It was found that three of the four companies studied increased creation of shareholder value after the certificate ISO 14000.

Keywords : Environmental Management; Value Creation to Shareholder; ISO 14000; Total Return to Shareholder - TSR.

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