Voluntary Disclosure Practices of Electricity Sector Companies: an Analysis Through Murcia Model

• Autor(a) principal: Silva, Tiago Lucimar da
• Data de Publicação: 2024
• Outros Autores: Alberton, Luiz, Vicente, Ernesto Fernando Rodrigues
• Tipo de documento: Artigo
• Idioma: por
• Título da fonte: Revista Catarinense da Ciência Contábil (Online)
• Texto Completo: https://revista.crcsc.org.br/index.php/CRCSC/article/view/1691
• topic: Disclosure voluntário; Setor elétrico; BM&FBOVESPA.; Voluntary disclosure; Electricity sector; BM&FBOVESPA.

This research aims at identifying the main practices of voluntary disclosure of electricity sector companies listed at BM&FBOVESPA, and create a ranking of higher levels of voluntary disclosure among them. With this intention, it was elaborated a metric composed of 6 (six) categories and 39 (thirty-nine) sub-categories: business environment (8), operational activities (7), strategic aspects (8), financial information (5), financial rations (4), and corporate governance (7). Using the technique of content analysis, the survey was carried out by using the Standard Financial Statements (DFP) for the year ended on 2010 of the electricity sector companies, listed at BM&FBOVESPA. The sample included the 66 companies (100%) of the economic sector Utilities / Electric Utilities. However, only 65 companies could be analyzed due to the lack of published information until the conclusion date of the research. The companies that compound the ranking of best practices of voluntary disclosure are: Copel; Cemig; Cemig Distribuição and Eletrobras. Information with higher level of disclosure are: core business (62), major shareholders (61) and identification of business risks (59). The items with the lowest level of disclosure are: liquidity indicators (5), forecast (6), prospects for new markets that the company intends to act (6) and discussion of competition (7). In data analysis it was evident the great variability in the level of voluntary disclosure by companies of the electric sector. Some companies present a significant number of information, while others focused only to fulfill what is required by law and discle little information voluntarily.