What Structural Elements of Governance, Diversity, Ownership, and Maturity Influence Sustainability in Organizations?

This study investigated how factors such as ownership structure, organizational maturity, corporate governance, and gender diversity influence the sustainability performance of Brazilian companies, as measured by the Corporate Sustainability Index (ISE). It is justified by the gap in integrated research in emerging contexts and the need to understand mechanisms that mitigate structural challenges. The objective was to analyze the interaction of these elements using quantitative methods (Probit and Logit regressions) on secondary data from 564 companies listed on the Brazilian stock exchange (B3) between 2015 and 2022. Results showed that higher foreign participation and organizational maturity are negatively correlated with sustainability, aligning with Agency Theory, which highlights the prioritization of immediate returns. In contrast, inclusive governance (independent members and expanded boards) and gender diversity positively impacted performance, supporting Stakeholder and Critical Mass Theories. However, CEO duality did not prove statistically significant. The contributions are theoretical and practical: they reinforce models that integrate sustainability barriers and facilitators and underscore the need for policies that prioritize diverse boards to mitigate risks in traditional structures. In summary, the research demonstrates that diversity and inclusive governance are essential to overcoming challenges and informing multidisciplinary strategies and public policies.