Análise da relação entre a divulgação de gestão de riscos corporativos e o gerenciamento de resultados em empresas brasileiras

Detalhes bibliográficos
Autor(a) principal: Duarte, Jheneffer Silva Santos
Data de Publicação: 2022
Tipo de documento: Dissertação
Idioma: por
Título da fonte: Repositório Institucional da UFG
dARK ID: ark:/38995/001300000163z
Texto Completo: http://repositorio.bc.ufg.br/tede/handle/tede/12085
Resumo: The risk management disclosure is a way for companies to disclose to the stock market the risks to which they are exposed and how they manage these risks to bring better decision-making capacity to both their managers and their stakeholders. The objective of this study is to analyze the relationship between risk management disclosure and earnings management in Brazilian companies. The risk management disclosure can indicate better quality of financial reports and companies with better quality of financial reports, in turn, can have a negative influence on their accruals-based management and a positive influence on real earnings management. In addition, it can impact the trade-off between these earnings management. The sample consists of 182 companies listed on B3 between 2012 and 2020. To analyze earnings management, the Pae (2005) model was used to calculate accruals-based management and the Roychowdhury (2006) model for the calculation of real earnings management. To calculate risk management disclosure, two indices were measured, one called rigorous and the other, tolerant, applying a checklist in the companies' Reference Form as required by CVM Instruction no. 480/2009 as amended by CVM Instruction n. 586/2017. The trade-off between manipulation by accruals and by real activities was also used to identify whether the risk management disclosure impacts the exchange of these two types of earnings management. As control variables, the study adopted profitability, size, growth and sector. Through the GLS regression, the results allow us to say that the high risk management disclosure, both in its rigorous and tolerant criteria, decreases the use of accruals-based management. On the other hand, the high risk management disclosure doesn’t increase the use of real earnings management. The results also showed that, through the risk management disclosure, the two types of earnings management used for the analysis of the study can be treated as complementary. These results mainly contribute to the decision-making of stakeholders regarding investments in companies and expand the national studies that until now were concentrated on only one of the tools that is part of the risk management disclosure, the internal control.
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spelling Carmo, Carlos Henrique Silva dohttp://lattes.cnpq.br/1859940699823861Carmo, Carlos Henrique Silva doRech, Ilírio JoséPereira, Antonio Gualbertohttp://lattes.cnpq.br/4903190150725154Duarte, Jheneffer Silva Santos2022-05-23T15:44:55Z2022-05-23T15:44:55Z2022-04-05DUARTE, J. S. S. Análise da relação entre a divulgação de gestão de riscos corporativos e o gerenciamento de resultados em empresas brasileiras. 2022. 92 f. Dissertação (Mestrado em Ciências Contábeis) - Universidade Federal de Goiás, Goiânia, 2022.http://repositorio.bc.ufg.br/tede/handle/tede/12085ark:/38995/001300000163zThe risk management disclosure is a way for companies to disclose to the stock market the risks to which they are exposed and how they manage these risks to bring better decision-making capacity to both their managers and their stakeholders. The objective of this study is to analyze the relationship between risk management disclosure and earnings management in Brazilian companies. The risk management disclosure can indicate better quality of financial reports and companies with better quality of financial reports, in turn, can have a negative influence on their accruals-based management and a positive influence on real earnings management. In addition, it can impact the trade-off between these earnings management. The sample consists of 182 companies listed on B3 between 2012 and 2020. To analyze earnings management, the Pae (2005) model was used to calculate accruals-based management and the Roychowdhury (2006) model for the calculation of real earnings management. To calculate risk management disclosure, two indices were measured, one called rigorous and the other, tolerant, applying a checklist in the companies' Reference Form as required by CVM Instruction no. 480/2009 as amended by CVM Instruction n. 586/2017. The trade-off between manipulation by accruals and by real activities was also used to identify whether the risk management disclosure impacts the exchange of these two types of earnings management. As control variables, the study adopted profitability, size, growth and sector. Through the GLS regression, the results allow us to say that the high risk management disclosure, both in its rigorous and tolerant criteria, decreases the use of accruals-based management. On the other hand, the high risk management disclosure doesn’t increase the use of real earnings management. The results also showed that, through the risk management disclosure, the two types of earnings management used for the analysis of the study can be treated as complementary. These results mainly contribute to the decision-making of stakeholders regarding investments in companies and expand the national studies that until now were concentrated on only one of the tools that is part of the risk management disclosure, the internal control.A evidenciação de gestão de riscos corporativos é uma forma de as empresas divulgarem ao mercado de ações os riscos a que estão expostas e como elas gerenciam estes riscos a fim de trazer melhor capacidade de tomada de decisão tanto para seus gestores como para seus stakeholders. O objetivo deste estudo é analisar a relação da divulgação entre a gestão de riscos corporativos e o gerenciamento de resultados nas empresas brasileiras. A divulgação de gestão de riscos corporativos pode indicar melhor qualidade dos relatórios financeiros e empresas com melhor qualidade dos relatórios financeiros, por sua vez, podem ter influência negativa no seu gerenciamento de resultados por accruals e positiva no gerenciamento de resultados por atividades reais. Além disso, pode causar impacto no trade-off entre esses gerenciamentos de resultados. A amostra é composta por 182 empresas listadas na B3 entre os anos 2012 e 2020. Para analisar o gerenciamento de resultados foi utilizado o modelo de Pae (2005) para calcular o gerenciamento de resultados por accruals e o modelo de Roychowdhury (2006) para o cálculo do gerenciamento de resultados por atividades reais. Para calcular a divulgação de gestão de riscos corporativos foram mensurados dois índices, um chamado de rigoroso e outro, de tolerante, aplicando-se um checklist no Formulário de Referência das empresas conforme requerido pela Instrução CVM n. 480/2009 com alteração dada pela Instrução CVM n. 586/2017. Foi utilizado ainda o trade-off do gerenciamento de resultados para identificar se a divulgação de gestão de riscos corporativos impacta na troca desses dois tipos de gerenciamento de resultados. Como variáveis de controle o estudo adotou a rentabilidade, o tamanho, o crescimento e o setor. Por meio da regressão GLS os resultados permitem dizer que a elevada divulgação de gestão de riscos corporativos tanto no seu critério rigoroso quanto tolerante tem relação inversa com o uso do gerenciamento de resultados por accruals. Por outro lado, a elevada divulgação de gestão de riscos corporativos não aumenta o uso do gerenciamento de resultados por atividades reais. Os resultados apontam ainda que, por meio do disclosure de gestão de riscos corporativos, os dois tipos de gerenciamento de resultados utilizados para a análise do estudo podem ser tratados como complementares. Estes resultados contribuem principalmente para a tomada de decisão dos stakeholders quanto aos investimentos nas empresas e expande os estudos nacionais que até o momento estavam concentrados em apenas umas das ferramentas que faz parte da divulgação de gestão de riscos corporativos, o controle interno.Submitted by Marlene Santos (marlene.bc.ufg@gmail.com) on 2022-05-23T15:22:40Z No. of bitstreams: 2 Dissertação - Jheneffer Silva Santos Duarte - 2022.pdf: 1030149 bytes, checksum: 36c809080f72925be81cf53195dbb3ae (MD5) license_rdf: 805 bytes, checksum: 4460e5956bc1d1639be9ae6146a50347 (MD5)Approved for entry into archive by Luciana Ferreira (lucgeral@gmail.com) on 2022-05-23T15:44:55Z (GMT) No. of bitstreams: 2 Dissertação - Jheneffer Silva Santos Duarte - 2022.pdf: 1030149 bytes, checksum: 36c809080f72925be81cf53195dbb3ae (MD5) license_rdf: 805 bytes, checksum: 4460e5956bc1d1639be9ae6146a50347 (MD5)Made available in DSpace on 2022-05-23T15:44:55Z (GMT). No. of bitstreams: 2 Dissertação - Jheneffer Silva Santos Duarte - 2022.pdf: 1030149 bytes, checksum: 36c809080f72925be81cf53195dbb3ae (MD5) license_rdf: 805 bytes, checksum: 4460e5956bc1d1639be9ae6146a50347 (MD5) Previous issue date: 2022-04-05OutroporUniversidade Federal de GoiásPrograma de Pós-graduação em Ciências Contábeis (FACE)UFGBrasilFaculdade de Administração, Ciências Contábeis e Ciências Econômicas - FACE (RG)Attribution-NonCommercial-NoDerivatives 4.0 Internationalhttp://creativecommons.org/licenses/by-nc-nd/4.0/info:eu-repo/semantics/openAccessDivulgaçãoGestão de riscos corporativosGerenciamento de resultadosTrade-offDisclosureRisk managemenEarnings managemenCIENCIAS SOCIAIS APLICADAS::ADMINISTRACAO::CIENCIAS CONTABEISAnálise da relação entre a divulgação de gestão de riscos corporativos e o gerenciamento de resultados em empresas brasileirasAnalyze the relationship between risk management disclosure and earnings management in Brazilian companiesinfo:eu-repo/semantics/publishedVersioninfo:eu-repo/semantics/masterThesis315005005005007165reponame:Repositório Institucional da UFGinstname:Universidade Federal de Goiás (UFG)instacron:UFGLICENSElicense.txtlicense.txttext/plain; charset=utf-81748http://repositorio.bc.ufg.br/tede/bitstreams/2f7f351d-17e6-4dff-9ae4-50bdf7ea0c76/download8a4605be74aa9ea9d79846c1fba20a33MD51CC-LICENSElicense_rdflicense_rdfapplication/rdf+xml; charset=utf-8805http://repositorio.bc.ufg.br/tede/bitstreams/f55fc892-d9f4-4afb-9487-1f67880396a4/download4460e5956bc1d1639be9ae6146a50347MD52ORIGINALDissertação - Jheneffer Silva Santos Duarte - 2022.pdfDissertação - Jheneffer Silva Santos Duarte - 2022.pdfapplication/pdf1030149http://repositorio.bc.ufg.br/tede/bitstreams/fe9992c2-090f-467d-94ac-5556fc3efe5b/download36c809080f72925be81cf53195dbb3aeMD53tede/120852022-05-23 12:44:55.339http://creativecommons.org/licenses/by-nc-nd/4.0/Attribution-NonCommercial-NoDerivatives 4.0 Internationalopen.accessoai:repositorio.bc.ufg.br:tede/12085http://repositorio.bc.ufg.br/tedeRepositório InstitucionalPUBhttp://repositorio.bc.ufg.br/oai/requesttasesdissertacoes.bc@ufg.bropendoar:2022-05-23T15:44:55Repositório Institucional da UFG - Universidade Federal de Goiás (UFG)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
dc.title.pt_BR.fl_str_mv Análise da relação entre a divulgação de gestão de riscos corporativos e o gerenciamento de resultados em empresas brasileiras
dc.title.alternative.eng.fl_str_mv Analyze the relationship between risk management disclosure and earnings management in Brazilian companies
title Análise da relação entre a divulgação de gestão de riscos corporativos e o gerenciamento de resultados em empresas brasileiras
spellingShingle Análise da relação entre a divulgação de gestão de riscos corporativos e o gerenciamento de resultados em empresas brasileiras
Duarte, Jheneffer Silva Santos
Divulgação
Gestão de riscos corporativos
Gerenciamento de resultados
Trade-off
Disclosure
Risk managemen
Earnings managemen
CIENCIAS SOCIAIS APLICADAS::ADMINISTRACAO::CIENCIAS CONTABEIS
title_short Análise da relação entre a divulgação de gestão de riscos corporativos e o gerenciamento de resultados em empresas brasileiras
title_full Análise da relação entre a divulgação de gestão de riscos corporativos e o gerenciamento de resultados em empresas brasileiras
title_fullStr Análise da relação entre a divulgação de gestão de riscos corporativos e o gerenciamento de resultados em empresas brasileiras
title_full_unstemmed Análise da relação entre a divulgação de gestão de riscos corporativos e o gerenciamento de resultados em empresas brasileiras
title_sort Análise da relação entre a divulgação de gestão de riscos corporativos e o gerenciamento de resultados em empresas brasileiras
author Duarte, Jheneffer Silva Santos
author_facet Duarte, Jheneffer Silva Santos
author_role author
dc.contributor.advisor1.fl_str_mv Carmo, Carlos Henrique Silva do
dc.contributor.advisor1Lattes.fl_str_mv http://lattes.cnpq.br/1859940699823861
dc.contributor.referee1.fl_str_mv Carmo, Carlos Henrique Silva do
dc.contributor.referee2.fl_str_mv Rech, Ilírio José
dc.contributor.referee3.fl_str_mv Pereira, Antonio Gualberto
dc.contributor.authorLattes.fl_str_mv http://lattes.cnpq.br/4903190150725154
dc.contributor.author.fl_str_mv Duarte, Jheneffer Silva Santos
contributor_str_mv Carmo, Carlos Henrique Silva do
Carmo, Carlos Henrique Silva do
Rech, Ilírio José
Pereira, Antonio Gualberto
dc.subject.por.fl_str_mv Divulgação
Gestão de riscos corporativos
Gerenciamento de resultados
topic Divulgação
Gestão de riscos corporativos
Gerenciamento de resultados
Trade-off
Disclosure
Risk managemen
Earnings managemen
CIENCIAS SOCIAIS APLICADAS::ADMINISTRACAO::CIENCIAS CONTABEIS
dc.subject.eng.fl_str_mv Trade-off
Disclosure
Risk managemen
Earnings managemen
dc.subject.cnpq.fl_str_mv CIENCIAS SOCIAIS APLICADAS::ADMINISTRACAO::CIENCIAS CONTABEIS
description The risk management disclosure is a way for companies to disclose to the stock market the risks to which they are exposed and how they manage these risks to bring better decision-making capacity to both their managers and their stakeholders. The objective of this study is to analyze the relationship between risk management disclosure and earnings management in Brazilian companies. The risk management disclosure can indicate better quality of financial reports and companies with better quality of financial reports, in turn, can have a negative influence on their accruals-based management and a positive influence on real earnings management. In addition, it can impact the trade-off between these earnings management. The sample consists of 182 companies listed on B3 between 2012 and 2020. To analyze earnings management, the Pae (2005) model was used to calculate accruals-based management and the Roychowdhury (2006) model for the calculation of real earnings management. To calculate risk management disclosure, two indices were measured, one called rigorous and the other, tolerant, applying a checklist in the companies' Reference Form as required by CVM Instruction no. 480/2009 as amended by CVM Instruction n. 586/2017. The trade-off between manipulation by accruals and by real activities was also used to identify whether the risk management disclosure impacts the exchange of these two types of earnings management. As control variables, the study adopted profitability, size, growth and sector. Through the GLS regression, the results allow us to say that the high risk management disclosure, both in its rigorous and tolerant criteria, decreases the use of accruals-based management. On the other hand, the high risk management disclosure doesn’t increase the use of real earnings management. The results also showed that, through the risk management disclosure, the two types of earnings management used for the analysis of the study can be treated as complementary. These results mainly contribute to the decision-making of stakeholders regarding investments in companies and expand the national studies that until now were concentrated on only one of the tools that is part of the risk management disclosure, the internal control.
publishDate 2022
dc.date.accessioned.fl_str_mv 2022-05-23T15:44:55Z
dc.date.available.fl_str_mv 2022-05-23T15:44:55Z
dc.date.issued.fl_str_mv 2022-04-05
dc.type.status.fl_str_mv info:eu-repo/semantics/publishedVersion
dc.type.driver.fl_str_mv info:eu-repo/semantics/masterThesis
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dc.identifier.citation.fl_str_mv DUARTE, J. S. S. Análise da relação entre a divulgação de gestão de riscos corporativos e o gerenciamento de resultados em empresas brasileiras. 2022. 92 f. Dissertação (Mestrado em Ciências Contábeis) - Universidade Federal de Goiás, Goiânia, 2022.
dc.identifier.uri.fl_str_mv http://repositorio.bc.ufg.br/tede/handle/tede/12085
dc.identifier.dark.fl_str_mv ark:/38995/001300000163z
identifier_str_mv DUARTE, J. S. S. Análise da relação entre a divulgação de gestão de riscos corporativos e o gerenciamento de resultados em empresas brasileiras. 2022. 92 f. Dissertação (Mestrado em Ciências Contábeis) - Universidade Federal de Goiás, Goiânia, 2022.
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publisher.none.fl_str_mv Universidade Federal de Goiás
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