ANALYSIS OF THE PROFIT PERSISTENCE UNDER THE DISCRETIONARY ACCRUALS: A STUDY BASED ON THE IMPACT OF ADOPTING IFRS
Autor(a) principal: | |
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Data de Publicação: | 2019 |
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Tipo de documento: | Artigo |
Idioma: | por |
Título da fonte: | Contextus (Fortaleza. Online) |
Texto Completo: | http://periodicos.ufc.br/contextus/article/view/40706 |
Resumo: | The difference between cash flow and net profit is called accrual. This measure is divided into a discretionary portion, a proxy for earnings management, and another non-discretionary, natural of the operational activities. The implementation of international accounting standards (IFRS) changed the potential volume of the discretionary portion. From it is expected a loss in the profits persistence given its arbitrary character. Therefore, this study analyzed the impact of discretionary accruals on the profits persistence of B3 companies, considering the adoption of IFRS. Given an estimation with panel data of 100 different companies, there are indications contrary to the logic of deterioration of persistence by discretionary accruals. The explanation lies in non-opportunistic earnings management, which assists investors in decision-making. In addition, the adoption of IFRS does not imply a reflection on the relation between discretionary accumulations and the profits persistence, differently from that expected in previous studies. |
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ANALYSIS OF THE PROFIT PERSISTENCE UNDER THE DISCRETIONARY ACCRUALS: A STUDY BASED ON THE IMPACT OF ADOPTING IFRSANÁLISIS DE LA PERSISTENCIA DEL LUCRO ANTE LOS ACCRUALS DISCRICIONARIOS: UN ESTUDIO CON BASE EN EL IMPACTO DE LA ADOPCIÓN DE LAS IFRSANÁLISE DA PERSISTÊNCIA DO LUCRO DIANTE DOS ACCRUALS DISCRICIONÁRIOS: UM ESTUDO COM BASE NO IMPACTO DA ADOÇÃO DAS IFRSThe difference between cash flow and net profit is called accrual. This measure is divided into a discretionary portion, a proxy for earnings management, and another non-discretionary, natural of the operational activities. The implementation of international accounting standards (IFRS) changed the potential volume of the discretionary portion. From it is expected a loss in the profits persistence given its arbitrary character. Therefore, this study analyzed the impact of discretionary accruals on the profits persistence of B3 companies, considering the adoption of IFRS. Given an estimation with panel data of 100 different companies, there are indications contrary to the logic of deterioration of persistence by discretionary accruals. The explanation lies in non-opportunistic earnings management, which assists investors in decision-making. In addition, the adoption of IFRS does not imply a reflection on the relation between discretionary accumulations and the profits persistence, differently from that expected in previous studies.El accrual se divide en una parcela discrecional, proxy de gestión de resultados, y otra no discrecional, natural de las actividades operativas. La implementación de las IFRS generó potencial de cambios en el volumen de la parcela discrecional del accrual. De ella se espera un perjuicio en la persistencia de los beneficios dado su carácter arbitrario. Este estudio analizó el impacto de los accruals discrecionales en la persistencia de los beneficios de las empresas de B3. Ante una estimación con datos en panel de 100 diferentes empresas, hay indicios contrarios a la lógica de deterioro de la persistencia por los accruals discrecionales. La explicación reside en la gestión de resultados no oportunistas, que auxilia en decisiones de inversores. Además, la adopción de las IFRS no implica reflejos en la relación de las acumulaciones discrecionales con la persistencia de los beneficios, a diferencia de lo esperado según estudios anteriores.A diferença entre o fluxo de caixa e o resultado do exercício chama-se accrual. Esta medida divide-se em uma parcela discricionária, proxy de gerenciamento de resultados, e outra não discricionária, natural das atividades operacionais. A implementação das normas internacionais de contabilidade (IFRS) gerou potencial de mudanças no volume da parcela discricionária. Dela espera-se um prejuízo na persistência dos lucros dado seu caráter arbitrário. Portanto, este estudo analisou o impacto dos accruals discricionários na persistência dos lucros das empresas da B3, considerando a adoção das IFRS. Diante de uma estimação com dados em painel de 100 diferentes empresas, há indícios contrários à lógica de deterioração da persistência pelos accruals discricionários. A explicação reside no gerenciamento de resultados não oportunísticos, que auxilia investidores na tomada de decisão. Ademais, a adoção das IFRS não implica reflexos na relação das acumulações discricionárias com a persistência dos lucros, diferentemente do esperado conforme estudos anteriores.FEAAC/UFC2019-08-16info:eu-repo/semantics/articleinfo:eu-repo/semantics/publishedVersionapplication/pdfapplication/ziphttp://periodicos.ufc.br/contextus/article/view/4070610.19094/contextus.v17i2.40706Contextus - Contemporary Journal of Economics and Management; Vol 17 No 2: mai/ago 2019; 129-159Contextus – Revista Contemporánea de Economía y Gestión; Vol. 17 Núm. 2: mai/ago 2019; 129-159Contextus – Revista Contemporânea de Economia e Gestão; v. 17 n. 2: mai/ago 2019; 129-1592178-92581678-2089reponame:Contextus (Fortaleza. Online)instname:Universidade Federal do Ceará (UFC)instacron:UFCporhttp://periodicos.ufc.br/contextus/article/view/40706/99196http://periodicos.ufc.br/contextus/article/view/40706/165977http://periodicos.ufc.br/contextus/article/view/40706/165978http://periodicos.ufc.br/contextus/article/view/40706/165979http://periodicos.ufc.br/contextus/article/view/40706/165980Copyright (c) 2019 Revista: apenas para a 1a. publicaçãohttps://creativecommons.org/licenses/by-nc/4.0info:eu-repo/semantics/openAccessMarçal, Ronan ReisMacedo, Marcelo Alvaro da Silva2021-11-20T14:56:41Zoai:periodicos.ufc:article/40706Revistahttp://periodicos.ufc.br/contextusPUBhttp://periodicos.ufc.br/contextus/oairevistacontextus@ufc.br2178-92581678-2089opendoar:2021-11-20T14:56:41Contextus (Fortaleza. Online) - Universidade Federal do Ceará (UFC)false |
dc.title.none.fl_str_mv |
ANALYSIS OF THE PROFIT PERSISTENCE UNDER THE DISCRETIONARY ACCRUALS: A STUDY BASED ON THE IMPACT OF ADOPTING IFRS ANÁLISIS DE LA PERSISTENCIA DEL LUCRO ANTE LOS ACCRUALS DISCRICIONARIOS: UN ESTUDIO CON BASE EN EL IMPACTO DE LA ADOPCIÓN DE LAS IFRS ANÁLISE DA PERSISTÊNCIA DO LUCRO DIANTE DOS ACCRUALS DISCRICIONÁRIOS: UM ESTUDO COM BASE NO IMPACTO DA ADOÇÃO DAS IFRS |
title |
ANALYSIS OF THE PROFIT PERSISTENCE UNDER THE DISCRETIONARY ACCRUALS: A STUDY BASED ON THE IMPACT OF ADOPTING IFRS |
spellingShingle |
ANALYSIS OF THE PROFIT PERSISTENCE UNDER THE DISCRETIONARY ACCRUALS: A STUDY BASED ON THE IMPACT OF ADOPTING IFRS Marçal, Ronan Reis |
title_short |
ANALYSIS OF THE PROFIT PERSISTENCE UNDER THE DISCRETIONARY ACCRUALS: A STUDY BASED ON THE IMPACT OF ADOPTING IFRS |
title_full |
ANALYSIS OF THE PROFIT PERSISTENCE UNDER THE DISCRETIONARY ACCRUALS: A STUDY BASED ON THE IMPACT OF ADOPTING IFRS |
title_fullStr |
ANALYSIS OF THE PROFIT PERSISTENCE UNDER THE DISCRETIONARY ACCRUALS: A STUDY BASED ON THE IMPACT OF ADOPTING IFRS |
title_full_unstemmed |
ANALYSIS OF THE PROFIT PERSISTENCE UNDER THE DISCRETIONARY ACCRUALS: A STUDY BASED ON THE IMPACT OF ADOPTING IFRS |
title_sort |
ANALYSIS OF THE PROFIT PERSISTENCE UNDER THE DISCRETIONARY ACCRUALS: A STUDY BASED ON THE IMPACT OF ADOPTING IFRS |
author |
Marçal, Ronan Reis |
author_facet |
Marçal, Ronan Reis Macedo, Marcelo Alvaro da Silva |
author_role |
author |
author2 |
Macedo, Marcelo Alvaro da Silva |
author2_role |
author |
dc.contributor.author.fl_str_mv |
Marçal, Ronan Reis Macedo, Marcelo Alvaro da Silva |
description |
The difference between cash flow and net profit is called accrual. This measure is divided into a discretionary portion, a proxy for earnings management, and another non-discretionary, natural of the operational activities. The implementation of international accounting standards (IFRS) changed the potential volume of the discretionary portion. From it is expected a loss in the profits persistence given its arbitrary character. Therefore, this study analyzed the impact of discretionary accruals on the profits persistence of B3 companies, considering the adoption of IFRS. Given an estimation with panel data of 100 different companies, there are indications contrary to the logic of deterioration of persistence by discretionary accruals. The explanation lies in non-opportunistic earnings management, which assists investors in decision-making. In addition, the adoption of IFRS does not imply a reflection on the relation between discretionary accumulations and the profits persistence, differently from that expected in previous studies. |
publishDate |
2019 |
dc.date.none.fl_str_mv |
2019-08-16 |
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/40706 10.19094/contextus.v17i2.40706 |
url |
http://periodicos.ufc.br/contextus/article/view/40706 |
identifier_str_mv |
10.19094/contextus.v17i2.40706 |
dc.language.iso.fl_str_mv |
por |
language |
por |
dc.relation.none.fl_str_mv |
http://periodicos.ufc.br/contextus/article/view/40706/99196 http://periodicos.ufc.br/contextus/article/view/40706/165977 http://periodicos.ufc.br/contextus/article/view/40706/165978 http://periodicos.ufc.br/contextus/article/view/40706/165979 http://periodicos.ufc.br/contextus/article/view/40706/165980 |
dc.rights.driver.fl_str_mv |
Copyright (c) 2019 Revista: apenas para a 1a. publicação https://creativecommons.org/licenses/by-nc/4.0 info:eu-repo/semantics/openAccess |
rights_invalid_str_mv |
Copyright (c) 2019 Revista: apenas para a 1a. publicação https://creativecommons.org/licenses/by-nc/4.0 |
eu_rights_str_mv |
openAccess |
dc.format.none.fl_str_mv |
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 17 No 2: mai/ago 2019; 129-159 Contextus – Revista Contemporánea de Economía y Gestión; Vol. 17 Núm. 2: mai/ago 2019; 129-159 Contextus – Revista Contemporânea de Economia e Gestão; v. 17 n. 2: mai/ago 2019; 129-159 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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1798045753267978240 |