Alterations in the institutional environment, as a result of the markets integration process and the consequent alterations in stakeholders' conduct are one of the important vectors of changes in companies' behavior. In that context, in addition to their yields those companies happen to worry about their attitudes in relation to social and environmental factors. Thus, the corporate social responsibility (CSR) is seen as one more strategy to maintain or increase their income and to harness the enterprise development. The main purpose of this study is the verification of the existing relation between Social Responsibility and the economic and financial performance of two companies in the business of Petroleum, Gas and Bio-combustibles. The investigation was based on a comparison of social-environmental practices developed by Petrobras S/A (Brazil) and Repsol S/A (Spain). For the purpose of verification of the relation between social-environmental performance and the economicfinancial one, a linear regression analysis was carried out.

Lopes de. A Auditoria Ambiental como ferramenta de apoio para o desempenho empresarial e a preservação do meio ambiente: Uma abordagem contábil e gerencial em indústrias químicas. 2002, 182p. Dissertação (Mestrado em Controladoria e Contabilidade).