What influences management to disregard the quality of disclosure? Lufthansa case

• Autor(a) principal: Cachinho, Carla Filipa Flora
• Data de Publicação: 2021
• Tipo de documento: Dissertação
• Idioma: eng
• Título da fonte: Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos)
• Texto Completo: http://hdl.handle.net/10400.22/19162
• topic: Instrumentos financeiros; Contabilidade de cobertura; IFRS 7; IFRS 9; Financial instruments; Hedge accounting; IFRS 7; IFRS 9; Contabilidade

Financial statements represent the financial position and results of a company. They are the source of information for investors. This study has as a target understanding what influences managers to lower the quality of financial information, particularly financial instruments, and whether periods of crisis have any impact. In this dissertation it’s studied one company in the aviation industry - Lufthansa - as this industry makes intense use of financial instruments to decrease its exposure to interest rates, fuel price swings, and exchange rate fluctuations. The study covers the period 2008-2020. It is a qualitative analysis of the Lufthansa annual reports, carried out by means of content analysis, where the answers to the research questions are obtained through an evaluation following a binary system. Agency and Stakeholder theories are also considered for this study as well, as both theories represent the interest of shareholders and the public. The results point out that no reason has been identified that influences the decrease in the quality of financial reporting, but rather some factors that may lead to this.