Income smoothing en cooperativas de crédito brasileñas: los efectos del incumplimiento

• Autor(a) principal: Sallaberry, Jonatas Dutra
• Data de Publicação: 2024
• Outros Autores: Venturini, Lauren Dal Bem, Lerner, Arthur Frederico, Flach, Leonardo
• Tipo de documento: Artigo
• Idioma: spa
• Título da fonte: Revista Ambiente Contábil
• Texto Completo: https://periodicos.ufrn.br/ambiente/article/view/34808
• topic: Accruals; Earnings Management; Provision; Default; Banks; Cooperative.; Income smoothing; Devengo; Gestión de Resultados; Provisión; Mora; Bancos; Cooperativa.; Income smoothing; Accruals; Gerenciamento de Resultados; Provisão; Inadimplência; Bancos; Cooperativa.; Income smoothing

Purpose: The objective of the study is to analyze whether credit unions manage their accounting results, in order to smooth them through provision for bad debts (income smoothing), from a default perspective. Methodology: The sample reaches 938 unique cooperatives between the period from December 2010 to December 2018, with data from the Central Bank of Brazil, tested using the multiple regression statistical technique, in quarterly panels. Results: The variation in the stock of credit operations and the adjusted net income were not statistically significant in the model, however it was not possible to accept the hypothesis that credit unions use the allowance for loan losses (PPC) as a mechanism for managing results. The interest rate implicit in the result of income from credit operations was significant, and therefore related to the PPC variation, while the condition of free admission did not show statistical significance. The variation in default was significant in the model, with a negative coefficient, implying consistency with the earnings management hypothesis, since in a scenario of higher default (risk) the relationship is negative and, therefore, PPC levels are lower, avoiding potential negative results. Contributions of the Study: The results indicate the absence of earnings management by PPC in the sample and period, contributing to the discussion of the relationships between earnings management variables. This enables credit unions to reflect on their internal corporate governance structure. In addition, the evidence contributes to the progress of the literature on earnings manipulation in credit unions, for which there are few studies available and play an important role in the Brazilian market, ensuring funding flows to economic sectors not served by traditional banking institutions.