Tone management of voluntary disclosures in Brazilian public companies’ press releases
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Publication Date: | 2020 |
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Format: | Article |
Language: | eng por |
Source: | Contextus (Fortaleza. Online) |
Download full: | http://periodicos.ufc.br/contextus/article/view/43366 |
Summary: | This study seeks to verify whether Brazilian public companies manipulate qualitative information through tone management. Forty-three companies were selected from Brazil's Ibovespa, Bolsa e Balcão (B3), with quarterly data from 2017 to 2018. The data regarding positive tonality were formatted using Loughran and McDonald (2011) word classification, taken from press releases voluntarily released by the companies and analyzed by the software Atlas.ti8. The index was regressed against the discretionary accruals obtained in two results management models. The results point to a negative and significant relationship between accounting management and positive tone of reporting, i.e. companies with higher positive tone manage less results. These findings present relevant information as they highlight the quality of the texts contained in the companies' reports. |
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Tone management of voluntary disclosures in Brazilian public companies’ press releasesGestión de tono de divulgaciones voluntarias en comunicados de prensa de las sociedades cotizadas en BrasilGerenciamento de tons das divulgações voluntárias nos press releases das companhias abertas brasileirastone managementearnings managementvoluntary disclosuretextual analysispress releasesgestión de tonosgestión de resultadosdivulgación voluntariaanálisis textualnotas de prensagerenciamento de tonsgerenciamento de resultadosdivulgação voluntáriaanálise textualpress releasesThis study seeks to verify whether Brazilian public companies manipulate qualitative information through tone management. Forty-three companies were selected from Brazil's Ibovespa, Bolsa e Balcão (B3), with quarterly data from 2017 to 2018. The data regarding positive tonality were formatted using Loughran and McDonald (2011) word classification, taken from press releases voluntarily released by the companies and analyzed by the software Atlas.ti8. The index was regressed against the discretionary accruals obtained in two results management models. The results point to a negative and significant relationship between accounting management and positive tone of reporting, i.e. companies with higher positive tone manage less results. These findings present relevant information as they highlight the quality of the texts contained in the companies' reports.Este artículo tiene como objetivo verificar si las empresas públicas brasileñas manipulan información cualitativa a través de la gestión del tono. Se seleccionaron 43 empresas pertenecientes a Ibovespa da Brasil, Bolsa e Balcão (B3), con datos trimestrales entre 2017 y 2018. Los datos relacionados con el tono positivo fueron formateados por clasificación de palabras por Loughran y McDonald (2011), tomados de los comunicados de prensa publicados voluntariamente por las compañías y analizados por Software Atlas.ti8. El índice retrocedió contra las acumulaciones discrecionales obtenidas en dos modelos de gestión de ganancias. Los resultados apuntan a una relación negativa y significativa entre la gestión contable y el tono positivo de los informes, es decir, las empresas con un tono positivo más alto manejan menos resultados. Estos hallazgos presentan información relevante ya que destaca la calidad de los textos contenidos en los informes de las empresas.Este artigo objetiva verificar se companhias abertas brasileiras manipulam informações qualitativas mediante gerenciamento de tons. Foram selecionadas 43 empresas pertencentes ao Ibovespa da Brasil, Bolsa e Balcão (B3), com dados trimestrais entre 2017 e 2018. Os dados referentes à tonalidade positiva foram formatados mediante classificação de palavras de Loughran e McDonald (2011), retiradas dos press releases divulgados voluntariamente pelas companhias e analisados pelo software Atlas.ti8. O índice foi regredido contra os accruals discricionários obtidos em dois modelos de gerenciamento de resultados. Os resultados apontam para relação negativa e significativa entre o gerenciamento contábil e a tonalidade positiva dos relatórios, ou seja, companhias com maior tom positivo gerenciam menos resultados. Estes achados apresentam informações relevantes por evidenciar a qualidade dos textos contidos nos relatórios das companhias.FEAAC/UFC2020-04-27info:eu-repo/semantics/articleinfo:eu-repo/semantics/publishedVersionapplication/pdfapplication/pdfapplication/ziphttp://periodicos.ufc.br/contextus/article/view/4336610.19094/contextus.2020.43366Contextus - Contemporary Journal of Economics and Management; Vol 18: jan/dec 2020; 39-51Contextus – Revista Contemporánea de Economía y Gestión; Vol. 18: ene/dic 2020; 39-51Contextus – Revista Contemporânea de Economia e Gestão; v. 18: jan/dez 2020; 39-512178-92581678-2089reponame:Contextus (Fortaleza. Online)instname:Universidade Federal do Ceará (UFC)instacron:UFCengporhttp://periodicos.ufc.br/contextus/article/view/43366/100362http://periodicos.ufc.br/contextus/article/view/43366/100363http://periodicos.ufc.br/contextus/article/view/43366/165543http://periodicos.ufc.br/contextus/article/view/43366/165544http://periodicos.ufc.br/contextus/article/view/43366/165545http://periodicos.ufc.br/contextus/article/view/43366/165546Copyright (c) 2020 Revista: apenas para a 1a. publicaçãohttp://creativecommons.org/licenses/by-nc/4.0info:eu-repo/semantics/openAccessSouza, Paulo Vitor Souza deSilva, Polyana Batista da2022-02-08T12:37:48Zoai:periodicos.ufc:article/43366Revistahttp://periodicos.ufc.br/contextusPUBhttp://periodicos.ufc.br/contextus/oairevistacontextus@ufc.br2178-92581678-2089opendoar:2022-02-08T12:37:48Contextus (Fortaleza. Online) - Universidade Federal do Ceará (UFC)false |
dc.title.none.fl_str_mv |
Tone management of voluntary disclosures in Brazilian public companies’ press releases Gestión de tono de divulgaciones voluntarias en comunicados de prensa de las sociedades cotizadas en Brasil Gerenciamento de tons das divulgações voluntárias nos press releases das companhias abertas brasileiras |
title |
Tone management of voluntary disclosures in Brazilian public companies’ press releases |
spellingShingle |
Tone management of voluntary disclosures in Brazilian public companies’ press releases Souza, Paulo Vitor Souza de tone management earnings management voluntary disclosure textual analysis press releases gestión de tonos gestión de resultados divulgación voluntaria análisis textual notas de prensa gerenciamento de tons gerenciamento de resultados divulgação voluntária análise textual press releases |
title_short |
Tone management of voluntary disclosures in Brazilian public companies’ press releases |
title_full |
Tone management of voluntary disclosures in Brazilian public companies’ press releases |
title_fullStr |
Tone management of voluntary disclosures in Brazilian public companies’ press releases |
title_full_unstemmed |
Tone management of voluntary disclosures in Brazilian public companies’ press releases |
title_sort |
Tone management of voluntary disclosures in Brazilian public companies’ press releases |
author |
Souza, Paulo Vitor Souza de |
author_facet |
Souza, Paulo Vitor Souza de Silva, Polyana Batista da |
author_role |
author |
author2 |
Silva, Polyana Batista da |
author2_role |
author |
dc.contributor.author.fl_str_mv |
Souza, Paulo Vitor Souza de Silva, Polyana Batista da |
dc.subject.por.fl_str_mv |
tone management earnings management voluntary disclosure textual analysis press releases gestión de tonos gestión de resultados divulgación voluntaria análisis textual notas de prensa gerenciamento de tons gerenciamento de resultados divulgação voluntária análise textual press releases |
topic |
tone management earnings management voluntary disclosure textual analysis press releases gestión de tonos gestión de resultados divulgación voluntaria análisis textual notas de prensa gerenciamento de tons gerenciamento de resultados divulgação voluntária análise textual press releases |
description |
This study seeks to verify whether Brazilian public companies manipulate qualitative information through tone management. Forty-three companies were selected from Brazil's Ibovespa, Bolsa e Balcão (B3), with quarterly data from 2017 to 2018. The data regarding positive tonality were formatted using Loughran and McDonald (2011) word classification, taken from press releases voluntarily released by the companies and analyzed by the software Atlas.ti8. The index was regressed against the discretionary accruals obtained in two results management models. The results point to a negative and significant relationship between accounting management and positive tone of reporting, i.e. companies with higher positive tone manage less results. These findings present relevant information as they highlight the quality of the texts contained in the companies' reports. |
publishDate |
2020 |
dc.date.none.fl_str_mv |
2020-04-27 |
dc.type.driver.fl_str_mv |
info:eu-repo/semantics/article info:eu-repo/semantics/publishedVersion |
format |
article |
status_str |
publishedVersion |
dc.identifier.uri.fl_str_mv |
http://periodicos.ufc.br/contextus/article/view/43366 10.19094/contextus.2020.43366 |
url |
http://periodicos.ufc.br/contextus/article/view/43366 |
identifier_str_mv |
10.19094/contextus.2020.43366 |
dc.language.iso.fl_str_mv |
eng por |
language |
eng por |
dc.relation.none.fl_str_mv |
http://periodicos.ufc.br/contextus/article/view/43366/100362 http://periodicos.ufc.br/contextus/article/view/43366/100363 http://periodicos.ufc.br/contextus/article/view/43366/165543 http://periodicos.ufc.br/contextus/article/view/43366/165544 http://periodicos.ufc.br/contextus/article/view/43366/165545 http://periodicos.ufc.br/contextus/article/view/43366/165546 |
dc.rights.driver.fl_str_mv |
Copyright (c) 2020 Revista: apenas para a 1a. publicação http://creativecommons.org/licenses/by-nc/4.0 info:eu-repo/semantics/openAccess |
rights_invalid_str_mv |
Copyright (c) 2020 Revista: apenas para a 1a. publicação http://creativecommons.org/licenses/by-nc/4.0 |
eu_rights_str_mv |
openAccess |
dc.format.none.fl_str_mv |
application/pdf application/pdf application/zip |
dc.publisher.none.fl_str_mv |
FEAAC/UFC |
publisher.none.fl_str_mv |
FEAAC/UFC |
dc.source.none.fl_str_mv |
Contextus - Contemporary Journal of Economics and Management; Vol 18: jan/dec 2020; 39-51 Contextus – Revista Contemporánea de Economía y Gestión; Vol. 18: ene/dic 2020; 39-51 Contextus – Revista Contemporânea de Economia e Gestão; v. 18: jan/dez 2020; 39-51 2178-9258 1678-2089 reponame:Contextus (Fortaleza. Online) instname:Universidade Federal do Ceará (UFC) instacron:UFC |
instname_str |
Universidade Federal do Ceará (UFC) |
instacron_str |
UFC |
institution |
UFC |
reponame_str |
Contextus (Fortaleza. Online) |
collection |
Contextus (Fortaleza. Online) |
repository.name.fl_str_mv |
Contextus (Fortaleza. Online) - Universidade Federal do Ceará (UFC) |
repository.mail.fl_str_mv |
revistacontextus@ufc.br |
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1798045753312018432 |