Earnings Management and Quarterly Discretionary Accruals Level in the Brazilian Stock Market
Autor(a) principal: | |
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Data de Publicação: | 2019 |
Outros Autores: | , |
Tipo de documento: | Artigo |
Idioma: | eng por |
Título da fonte: | BBR. Brazilian Business Review (English edition. Online) |
Texto Completo: | http://www.bbronline.com.br/index.php/bbr/article/view/526 |
Resumo: | This study aims to investigate the behavior of the quarterly earnings management level of Brazilian public companies. For this purpose, a sample of 107 companies listed on the B3 Brasil Bolsa Balcão S.A. was selected and the quarterly discretionary accruals among 2012 and 2017 were estimated using Paulo’s (2007) model as a proxy for earnings management. Next, a second regression with the quarterly discretionary accruals and dummy variables representative of each quarter was used. The results indicate that the magnitude average of discretionary accruals are higher in the fourth and last quarter, and discretionary accruals for the first quarter were significantly different from the second and third quarter. These findings suggest that managers adjust the firm’s performance report more strongly at the end of the year as it becomes the last opportunity to use discretion over accounting numbers with the intent to achieve annual goals. |
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BBR. Brazilian Business Review (English edition. Online) |
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Earnings Management and Quarterly Discretionary Accruals Level in the Brazilian Stock MarketGerenciamento de Resultados e Nível dos Accruals Discricionários Trimestrais no Mercado Acionário BrasileiroDiscretionary accrualsEarnings managementQuarterly statementsAccruals discricionáriosGerenciamento de resultadosDemonstrações trimestraisThis study aims to investigate the behavior of the quarterly earnings management level of Brazilian public companies. For this purpose, a sample of 107 companies listed on the B3 Brasil Bolsa Balcão S.A. was selected and the quarterly discretionary accruals among 2012 and 2017 were estimated using Paulo’s (2007) model as a proxy for earnings management. Next, a second regression with the quarterly discretionary accruals and dummy variables representative of each quarter was used. The results indicate that the magnitude average of discretionary accruals are higher in the fourth and last quarter, and discretionary accruals for the first quarter were significantly different from the second and third quarter. These findings suggest that managers adjust the firm’s performance report more strongly at the end of the year as it becomes the last opportunity to use discretion over accounting numbers with the intent to achieve annual goals.Este estudo tem por objetivo investigar o comportamento do nível de gerenciamento de resultados trimestrais das companhias abertas brasileiras. Para isso, selecionou-se uma amostra de 107 empresas listadas na B3 S/A Brasil Bolsa Balcão e estimaram-se os accruals discricionários trimestrais entre 2012 e 2017 através do modelo Paulo (2007) como proxy para o gerenciamento de resultados contábeis. Em seguida, utilizou-se uma segunda regressão com os accruals discricionários trimestrais e variáveis dummies representativas de cada trimestre. Os resultados indicam que, em média, a magnitude dos accruals discricionários são maiores no quarto e último trimestre do ano, bem como o nível de accruals anormais no primeiro trimestre se mostrou significantemente diferente dos segundo e terceiro trimestre, devido à reversão dos accruals do quarto trimestre do exercício anterior. Esses achados sugerem que os gestores ajustam mais fortemente o reporte do desempenho das firmas ao final do exercício, pois torna-se a última oportunidade para utilizarem a discricionariedade sobre os números contábeis com a intenção de atingir metas e expectativas de resultados anuais.FUCAPE Business Shool2019-05-01info:eu-repo/semantics/articleinfo:eu-repo/semantics/publishedVersionPeer-reviewed ArticleArtigo revisado pelos paresapplication/pdfapplication/pdfhttp://www.bbronline.com.br/index.php/bbr/article/view/52610.15728/bbr.2019.16.3.6Brazilian Business Review; Vol. 16 No. 3 (2019): May to June 2019; 297-314Brazilian Business Review; v. 16 n. 3 (2019): Maio a Junho de 2019; 297-3141808-23861807-734Xreponame:BBR. Brazilian Business Review (English edition. Online)instname:Fucape Business School (FBS)instacron:FBSengporhttp://www.bbronline.com.br/index.php/bbr/article/view/526/800http://www.bbronline.com.br/index.php/bbr/article/view/526/801Copyright (c) 2019 Brazilian Business Reviewhttps://creativecommons.org/licenses/by/4.0info:eu-repo/semantics/openAccessRodrigues, Rodolfo Maia Rosado CascudoMelo, Clayton Levy Lima dePaulo, Edilson2019-05-01T10:05:41Zoai:ojs.pkp.sfu.ca:article/526Revistahttps://www.bbronline.com.br/index.php/bbr/indexONGhttp://www.bbronline.com.br/index.php/bbr/oai|| bbronline@bbronline.com.br1808-23861808-2386opendoar:2019-05-01T10:05:41BBR. Brazilian Business Review (English edition. Online) - Fucape Business School (FBS)false |
dc.title.none.fl_str_mv |
Earnings Management and Quarterly Discretionary Accruals Level in the Brazilian Stock Market Gerenciamento de Resultados e Nível dos Accruals Discricionários Trimestrais no Mercado Acionário Brasileiro |
title |
Earnings Management and Quarterly Discretionary Accruals Level in the Brazilian Stock Market |
spellingShingle |
Earnings Management and Quarterly Discretionary Accruals Level in the Brazilian Stock Market Rodrigues, Rodolfo Maia Rosado Cascudo Discretionary accruals Earnings management Quarterly statements Accruals discricionários Gerenciamento de resultados Demonstrações trimestrais |
title_short |
Earnings Management and Quarterly Discretionary Accruals Level in the Brazilian Stock Market |
title_full |
Earnings Management and Quarterly Discretionary Accruals Level in the Brazilian Stock Market |
title_fullStr |
Earnings Management and Quarterly Discretionary Accruals Level in the Brazilian Stock Market |
title_full_unstemmed |
Earnings Management and Quarterly Discretionary Accruals Level in the Brazilian Stock Market |
title_sort |
Earnings Management and Quarterly Discretionary Accruals Level in the Brazilian Stock Market |
author |
Rodrigues, Rodolfo Maia Rosado Cascudo |
author_facet |
Rodrigues, Rodolfo Maia Rosado Cascudo Melo, Clayton Levy Lima de Paulo, Edilson |
author_role |
author |
author2 |
Melo, Clayton Levy Lima de Paulo, Edilson |
author2_role |
author author |
dc.contributor.author.fl_str_mv |
Rodrigues, Rodolfo Maia Rosado Cascudo Melo, Clayton Levy Lima de Paulo, Edilson |
dc.subject.por.fl_str_mv |
Discretionary accruals Earnings management Quarterly statements Accruals discricionários Gerenciamento de resultados Demonstrações trimestrais |
topic |
Discretionary accruals Earnings management Quarterly statements Accruals discricionários Gerenciamento de resultados Demonstrações trimestrais |
description |
This study aims to investigate the behavior of the quarterly earnings management level of Brazilian public companies. For this purpose, a sample of 107 companies listed on the B3 Brasil Bolsa Balcão S.A. was selected and the quarterly discretionary accruals among 2012 and 2017 were estimated using Paulo’s (2007) model as a proxy for earnings management. Next, a second regression with the quarterly discretionary accruals and dummy variables representative of each quarter was used. The results indicate that the magnitude average of discretionary accruals are higher in the fourth and last quarter, and discretionary accruals for the first quarter were significantly different from the second and third quarter. These findings suggest that managers adjust the firm’s performance report more strongly at the end of the year as it becomes the last opportunity to use discretion over accounting numbers with the intent to achieve annual goals. |
publishDate |
2019 |
dc.date.none.fl_str_mv |
2019-05-01 |
dc.type.driver.fl_str_mv |
info:eu-repo/semantics/article info:eu-repo/semantics/publishedVersion Peer-reviewed Article Artigo revisado pelos pares |
format |
article |
status_str |
publishedVersion |
dc.identifier.uri.fl_str_mv |
http://www.bbronline.com.br/index.php/bbr/article/view/526 10.15728/bbr.2019.16.3.6 |
url |
http://www.bbronline.com.br/index.php/bbr/article/view/526 |
identifier_str_mv |
10.15728/bbr.2019.16.3.6 |
dc.language.iso.fl_str_mv |
eng por |
language |
eng por |
dc.relation.none.fl_str_mv |
http://www.bbronline.com.br/index.php/bbr/article/view/526/800 http://www.bbronline.com.br/index.php/bbr/article/view/526/801 |
dc.rights.driver.fl_str_mv |
Copyright (c) 2019 Brazilian Business Review https://creativecommons.org/licenses/by/4.0 info:eu-repo/semantics/openAccess |
rights_invalid_str_mv |
Copyright (c) 2019 Brazilian Business Review https://creativecommons.org/licenses/by/4.0 |
eu_rights_str_mv |
openAccess |
dc.format.none.fl_str_mv |
application/pdf application/pdf |
dc.publisher.none.fl_str_mv |
FUCAPE Business Shool |
publisher.none.fl_str_mv |
FUCAPE Business Shool |
dc.source.none.fl_str_mv |
Brazilian Business Review; Vol. 16 No. 3 (2019): May to June 2019; 297-314 Brazilian Business Review; v. 16 n. 3 (2019): Maio a Junho de 2019; 297-314 1808-2386 1807-734X reponame:BBR. Brazilian Business Review (English edition. Online) instname:Fucape Business School (FBS) instacron:FBS |
instname_str |
Fucape Business School (FBS) |
instacron_str |
FBS |
institution |
FBS |
reponame_str |
BBR. Brazilian Business Review (English edition. Online) |
collection |
BBR. Brazilian Business Review (English edition. Online) |
repository.name.fl_str_mv |
BBR. Brazilian Business Review (English edition. Online) - Fucape Business School (FBS) |
repository.mail.fl_str_mv |
|| bbronline@bbronline.com.br |
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1754732239112896512 |