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2022-11-10T15:21:59Z2022-11-10T15:21:59Z20172821290103734Xhttp://hdl.handle.net/1843/47129Este artigo analisou a relação entre mecanismos de governança corporativa, earnings management, qualidade das informações financeiras e características específicas de empresas listadas na BM&FBOVESPA. O argumento foi construído a partir da hipótese de custos de comprometimento de Jensen e Meckling (1976), da discussão sobre qualidade das informações de Bushman e Smith (2003) e das evidências empíricas, tais como Leuz, Nanda e Wysocki (2003), Ashbaugh-Skaife, Collins e LaFond (2004), Fernandes e Ferreira (2007), e, no Brasil, Lopes e Tukamoto (2007), Martinez (2001, 2010a), Barros, Soares e Lima (2013), Holanda, Rebouças e Coelho (2013) e Mazzioni et al (2015). Observou-se associação negativa entre earnings management e variação na receita bruta, sugerindo que quanto maiores as oportunidades de crescimento da empresa, menores os níveis de earnings management. Verificou-se, também, relação inversa entre earnings management e dependência de recursos externos. E, a análise dos determinantes da qualidade dos lucros publicados revelou associação inversa e significativa com a concentração de propriedade. Este estudo contribuiu para a literatura sobre a relação entre governança e earnings management ao analisar se, em um contexto como o brasileiro de elevada concentração de propriedade e com conselhos de administração em que predominam representantes dos acionistas controladores, os mecanismos de governança permitiriam, efetivamente, inibir níveis de earnings management. No total, as evidências empíricas encontradas permitem concluir apenas que a dispersão de propriedade é efetiva nesse sentido.he purpose of this paper was to analyze the relationship between governance mechanisms, earnings management, the quality of financial information disclosed and firm-level characteristics of companies listed on BM&FBOVESPA. The argument was built upon the Jensen and Meckling (1976) bonding costs hypothesis, the Bushman and Smith (2003) argument about the quality of information disclosed and, on the empirical evidence such as Leuz, Nanda and Wysocki (2003), Ashbaugh-Skaife, Collins and LaFond (2004), Fernandes and Ferreira (2007) and, in the Brazilian context, Lopes and Tukamoto (2007), Martinez (2001, 2010a) and Barros, Soares and Lima (2013), Holanda, Rebouças and Coelho (2013) and Mazzioni et al (2015). We find out that earnings management associates negatively with the gross revenue. This suggests the higher the growth opportunities, the lower earnings management level. We also find an inverse relationship between earnings management and dependence on external resources. The analysis of the determinants of the quality of profits disclosed showed an inverse and significant relationship with ownership concentration. This research contributes to the literature on the relationship between governance and earnings management since it analyses if in an environment of high ownership concentration and boards controlled by large shareholders like the Brazilian market, the governance mechanisms effectively allow to restrain earnings management levels. To sum up, the empirical evidences found allow us to make the conclusion that only ownership dispersion is effective in achieving this purpose.porUniversidade Federal de Minas GeraisUFMGBrasilFCE - DEPARTAMENTO DE CIÊNCIAS ADMINISTRATIVASRevista Contabilidade Vista e RevistaContabilidadeGovernança corporativaGovernança CorporativaInformações ContábeisEarnings ManagementGovernança corporativa e earnings management em empresas negociadas na BM&FBOVESPACorporate governance and earnings management at companies listed on BM&FBOVESPAinfo:eu-repo/semantics/publishedVersioninfo:eu-repo/semantics/articlehttp://revistas.face.ufmg.br/index.php/contabilidadevistaerevista/issue/currentLaise Ferraz CorreiaHudson Fernandes AmaralPascal Louvetinfo:eu-repo/semantics/openAccessreponame:Repositório Institucional da UFMGinstname:Universidade Federal de Minas Gerais (UFMG)instacron:UFMGLICENSELicense.txtLicense.txttext/plain; charset=utf-82042https://repositorio.ufmg.br/bitstream/1843/47129/1/License.txtfa505098d172de0bc8864fc1287ffe22MD51ORIGINALGOVERNANÇA CORPORATIVA E EARNINGS MANAGEMENT EM.pdfGOVERNANÇA CORPORATIVA E EARNINGS MANAGEMENT EM.pdfapplication/pdf484167https://repositorio.ufmg.br/bitstream/1843/47129/2/GOVERNAN%c3%87A%20CORPORATIVA%20E%20EARNINGS%20MANAGEMENT%20EM.pdff202c3137587b8137d296bba5195e572MD521843/471292022-11-10 12:21:59.917oai:repositorio.ufmg.br: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Repositório InstitucionalPUBhttps://repositorio.ufmg.br/oaiopendoar:2022-11-10T15:21:59Repositório Institucional da UFMG - Universidade Federal de Minas Gerais (UFMG)false
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