The Impact of the Green Supply Chain Management in the Costs Behavior of Companies in the Energy Sector Listed on BM&FBOVESPA

This study seeks to identify the impact of the practices of Green Supply Chain Management (GSCM) in the costs behavior of companies in the energy sector listed on BM&FBOVESPA, by adopting as measurement proxy the ISO 14001 certification, the Managerial Sustainability Index (ISE) listing, and the 9.991/2000 Law. Therefore, we analyzed, by regression models for panel data, the unconsolidated financial statements from 1995 to 2014, collected in Economatica (R) and updated by the IPCA/IBGE index. The results differ from the ideas brought by the authors in question, as the explicative variables are not statistically significant when considering the usual confidence interval levels. Thus, it is not possible to infer that there was an impact on the productive efficiency of the companies, with an increase or decrease in the proportion of the cost in relation to sales revenues. This way, and considering that this effect may be offset by other factors, it seeks to separately analyze the costs and revenues. The results show that all the explicative variables are not statistically significant for the analysis of revenues, but, for the cost analysis, they show that the higher the level of adherence to GSCM practices, the greater the cost of goods sold.