Programa de Pós-Graduação em Ciências Contábeis
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Master Thesis Características dos CEOS brasileiros e gerenciamento de resultados(Universidade Federal do Rio Grande do Norte, 2022-11-11) Silva, Annandy Raquel Pereira da; Oliveira, Atelmo Ferreira de; https://orcid.org/0000-0001-8861-0724; http://lattes.cnpq.br/5033606012933010; https://orcid.org/0000-0003-4636-2835; http://lattes.cnpq.br/6891587988698864; Tavares, Adilson de Lima; https://orcid.org/0000-0002-7800-9473; http://lattes.cnpq.br/0428428556686066; Oliveira, Kallyse Priscila Soares deThis research, supported by Agency Theory, Senior Theory and Accounting Choices Theory, aimed to investigate the relationship between the specific characteristics and skills of Brazilian CEOs (Chief Executive Officer) and Earnings Management (GR). For that, the time lapse from 2016 to 2019 was used, comprising the non-financial companies listed in Brasil, Bolsa, Balcão (B3). The characteristics studied were Remuneration, Duality, Age, Gender, Education, Term of Office, Participation in Board of Directors (CA) Meetings and CEO Familiarity. The information regarding the data of the CEOs was collected in the Reference Form (FR) available on the B3 website, and the others in the Economática® database. The EM was measured by discretionary accruals, using the model of Pae (2005), thus, a sample of 194 companies was used and a regression was performed using the Pooled model. Regarding the descriptive statistics, it was found that the average remuneration of the Brazilian CEO is R$3,248,286, they have an average of 53 years and a term of office of around two years. Brazilian companies had an average size of 14.61, average ROIC (Return on Invested Capital) of 4.36, average leverage of 0.99 and average age of 48 years. For the dummy variables, it was found that 45.92% of Brazilian CEOs hold the role of director and chairman of the board, 97.89% are male, only 29.34% of CEOs participate in Board meetings and 26.44 % have family ties with the company. For the BigFour and Corporate Governance (GC) variables, 73.42% of Brazilian companies are audited by BigFour and 58.55% are included in one of the different GC levels. Regarding the training area of CEOs, the business area (Administration, Accounting Sciences or Economics) represented only 33.28% of the training of CEOs. As for the results of the econometric model, it was found that significant results were found for three variables: Duality (DUAL), Age (IDA) and Participation in CA meetings (REU), confirming hypotheses H2, H3 and H7, however, the variables Remuneration (REM), Gender (GEN), Training Area (FORM), Term of Office (MAND) and Family CEO (FAM) were not statistically significant, leading to the rejection of hypotheses H1, H4, H5, H6 and H8. In this way, it is concluded that the only variables that impact EM in the Brazilian companies studied is the CEO having dual positions, being older and participating in the Board of Directors' meetings, in line with what the Senior Theory defends, that all other specific traits and abilities influence GR.Master Thesis Custo da dívida frente ao relato integrado e ao gerenciamento de resultados contábeis: evidências no Brasil(Universidade Federal do Rio Grande do Norte, 2022-08-26) Silva, Mariana Câmara Gomes e; Tavares, Adilson de Lima; https://orcid.org/0000-0002-7800-9473; http://lattes.cnpq.br/0428428556686066; http://lattes.cnpq.br/1978612131757747; Miranda, Kléber Formiga; Mota, Renato Henrique Gurgel; https://orcid.org/0000-0001-8439-7540; http://lattes.cnpq.br/6602112968915730Based on the signaling theory, this study aims to analyze the influence of voluntary disclosure of the integrated report on the relationship between the cost of debt and earnings management in the Brazilian stock market. For this, the sample is composed of non-financial companies listed B3, considering the period from 2016 to 2019. The cost of debt was estimated by the ratio between financial expenses and onerous liabilities, for which financial expenses were obtained in a disaggregated way directly in the explanatory notes. The data regarding the voluntary disclosure of the integrated report (IR) were obtained from the reference forms, annual reports and integrated reports, available on the websites of the Securities and Exchange Commission (CVM), B3 and the companies, following the guidelines established by the International Integrated Reporting Council (IIRC). Information for estimating discretionary accruals, a proxy for earnings management, was obtained from the Economática database. Based on the results, it was found that the cost of debt is sensitive to discretionary practices, due to the increase in information asymmetry. In turn, when disclosing voluntary information with a structure similar to the RI, creditors positively identify the signal, reducing interest rates. However, considering the RI according to IIRC guidelines, the relationship did not show statistical significance, suggesting that the RI alone does not directly influence the definition of the cost of debt. Finally, through the interaction of IR with accruals, the findings showed that Brazilian companies that disclose IR according to the guidelines tend to have a lower cost of debt, while discretionary behavior is minimized, suggesting that IR influences the definition of interest rates indirectly.Master Thesis Gerenciamento de accruals discricionários trimestrais no mercado Latino-Americano(Universidade Federal do Rio Grande do Norte, 2022-03-24) Alves, Victor Sandeje Dantas; Melo, Clayton Levy Lima de; https://orcid.org/0000-0003-4397-115X; http://lattes.cnpq.br/3592016274832763; https://orcid.org/0000-0003-1133-6100; http://lattes.cnpq.br/5381132825251217; Tavares, Adilson de Lima; https://orcid.org/0000-0002-7800-9473; http://lattes.cnpq.br/0428428556686066; Magro, Cristian Bau DalBased on the Agency Theory, the objective of this study is to analyze the quality of Latin American countries associated with the management of quarterly results of publicly traded companies. For this, 457 companies presented in Argentina, Brazil, Colombia, and Mexico were selected, and the quarterly discretionary accruals were estimated as a proxy for earnings management through the model of Pae (2005), with information collected from information from Thomson Reuters ®, as well as the quality of audit reports between 2015 and 2019. Through the Dunn-Bonferroni test (dunn test) the results indicate that the average, in addition to being higher, the fourth quarter discretionary accrual level is significantly different from all the other quarters, as well as the first quarter is significantly different from the second and third quarters. Regarding countries, Brazil, Colombia, and Mexico, however, similar levels of earnings management, no, higher levels of quality compared to Argentina. These findings include those countries with higher audit quality are presented with lower levels of quarterly earnings management, in countries, with a peak in the fourth quarter. This result contributes to the literature by showing that earnings management by discretionary accruals are different across quarters and countries, as well as demonstrating to users of accounting information that both the discretionary behavior of these accruals and the quality of audits can be in the quality of final decision.Master Thesis Gerenciamento de resultado e impairment nas empresas brasileiras de capital aberto(Universidade Federal do Rio Grande do Norte, 2021-05-18) Morais, Maria Auxiliadora de Oliveira; Gomes, Anailson Márcio; ; http://lattes.cnpq.br/1706401049342481; ; http://lattes.cnpq.br/7142429126872805; Mota, Renato Henrique Gurgel; ; http://lattes.cnpq.br/6602112968915730; Miranda, Kléber Formiga; ; http://lattes.cnpq.br/5969359253746807IAS 36, adopted in Brazil through CPC 01 (R1), provides a practical scenario of interpretations and judgments for report-makers. In this context, this research aims to investigate the association between earnings management and the recognition of impairment in publicly traded Brazilian companies. To achieve this objective, a quantitative survey of 86 publicly traded Brazilian companies was used, using discretionary accruals as a proxy for earnings management, for which two models were used: Modified Jones (1995) and the Pae model (2005). Then, they were estimated as regressions with unbalanced panel data with fixed effect and with standard errors robust to heteroscedasticity. The results induced that the Disability Indicator (IDIMP) present statistical significance at the level of 5%, to explain the behavior of discretionary accruals. In addition, the coefficients associated with the positive sign, indicating that there is a direct (positive) association, there is evidence that earnings management is positively associated with the recognition of impairment in publicly traded Brazilian companies.Master Thesis Estabilidade da propriedade institucional de ações e sua relação com práticas de gerenciamento de resultados(Universidade Federal do Rio Grande do Norte, 2020-09-28) Santos, Lorena Ingrid de Lima e; Melo, Clayton Levy Lima de; ; http://lattes.cnpq.br/3592016274832763; ; http://lattes.cnpq.br/7386945185565578; Mota, Renato Henrique Gurgel; ; http://lattes.cnpq.br/6602112968915730; Araújo, Antônio Maria Henri Beyle de; ; http://lattes.cnpq.br/6882196483321744This study arises from the need to understand more about how institutional investors operate in Brazilian companies, and, if their presence and volatility exert some type of reduction in the adherence of earnings management practices by their investees. In addition, it is questioned whether this result is attributable to any type of institutional investor. For this analysis, the volatility of institutional investors' holdings in unregulated and non-financial companies listed on the Brazilian stock exchange (B3) was verified, during the period from 2010 to 2018, which contained some institutional investors in their shareholding structure, constituting a sample of 159 companies. Thus, the metrics STDI and PROP, proposed by Elyasiani, Jia and Mao (2010), were used. These are calculated in their total values, for the entire group of institutional and individual investors, considering its four main types: Banks, Insurance Companies, Investment Funds and Holdings. As proxies for earnings management, the two main types were measured: through discretionary accruals (AEM), in which the Pae model (2005) was adopted, and through operational activities (REM), which were measured by the models of Roychowdhury (2006). The results indicated that companies with stable shareholders of the Banks-type are less associated with AEM practices, demonstrating an active monitor profile, differently from what is estimated in the literature. It was also evident that companies with stable Holdings-type shareholders have less adherence to REM-type strategies, attributing it to institutional activism. And in bigger participation proportions of the Insurance-company-type shareholder, a greater association with the management of AEM and REM results was evidenced, granting this type of investor a passive ownership profile. The relevance of these findings is to understand more and more about the actions of these investors, how important it is to consider their heterogeneity of their objectives, the search for short or long term gains, and the efficiency of their monitoring in mitigating earnings management practices.Master Thesis Gerenciamento de resultados e incentivos fiscais no Brasil(Universidade Federal do Rio Grande do Norte, 2020-06-03) Silva, Elvis Francelino Pereira da; Tavares, Adilson de Lima; ; ; Mota, Renato Henrique Gurgel; ; Martins, Vinicius Gomes;The Brazilian tax burden is one of the largest in the world. Brazil also has a high number of tax incentives granted. These facts, in themselves, show the importance that taxes have for society and for companies. Therefore, firms that perform better tax planning, in order to minimize the effects of taxation, may have a differential in relation to their competitors. The possibilities foreseen in the tax legislation to pay less taxes are one aspect of the studies on accounting choices. The companie’s decisions can be managed with the objective of affecting the accounting numbers, and consequently the value of the taxes to be collected. In this sense, this research has the general objective of investigating whether companies that are granted tax incentives have less demand for earnings management. For this, a sample of 168 non-financial companies was selected, listed in [B] ³ - Brasil, Bolsa, Balcão, from 2012 to 2018. Tax incentives were collected, through content analysis, in the explanatory notes. Earnings management was estimated through accruals and operating activities. The survey data was collected through the standardized financial statements filed on the CVM website. The results indicate that it is not possible to state that companies that receive tax incentives from the government have less demand for earnings management through accruals and operating activities through the tax incentive data collected from the notes. In addition, the study also showed that the tax burden of companies that have tax incentives was a motivating factor for GR practices by accruals.