The efect of size on the relationship between control structure and voluntary disclosure in Brazilian companies
Autor(a) principal: | |
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Data de Publicação: | 2020 |
Outros Autores: | |
Tipo de documento: | Artigo |
Idioma: | eng |
Título da fonte: | Revista de Ciências da Administração |
Texto Completo: | https://periodicos.ufsc.br/index.php/adm/article/view/60582 |
Resumo: | This study aims to analyze the influence of size on the relationship between the control structure on the voluntary disclosure policy of the listed companies in B3. To achieve this goal, we created a dependent variable, called "voluntary disclosure level", which corresponds to 38 indicators of information collected manually from the companies' statements and websites. Afterwards, we estimated a balanced panel data regression model with a threshold effect for size in order to identify the relationship between the variables. The results indicated that smaller companies, with a more concentrated control structure, tended to present a higher level of voluntary disclosure. However, for larger companies, the greater the concentration of the control structure, the less evidence of this information. These inferences lead to believe that the largest Brazilian corporations, with more concentrated control, may not be interested in disclosing voluntary information because most of their shareholders enjoy private control benefits. |
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Revista de Ciências da Administração |
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The efect of size on the relationship between control structure and voluntary disclosure in Brazilian companiesO efeito do tamanho na relação entre estrutura de controle e disclosure voluntário de companhias brasileirasThis study aims to analyze the influence of size on the relationship between the control structure on the voluntary disclosure policy of the listed companies in B3. To achieve this goal, we created a dependent variable, called "voluntary disclosure level", which corresponds to 38 indicators of information collected manually from the companies' statements and websites. Afterwards, we estimated a balanced panel data regression model with a threshold effect for size in order to identify the relationship between the variables. The results indicated that smaller companies, with a more concentrated control structure, tended to present a higher level of voluntary disclosure. However, for larger companies, the greater the concentration of the control structure, the less evidence of this information. These inferences lead to believe that the largest Brazilian corporations, with more concentrated control, may not be interested in disclosing voluntary information because most of their shareholders enjoy private control benefits.O estudo objetiva analisar a influência do tamanho na relação entre estrutura de controle e disclosure voluntário das companhias listas na B3. Para atingir este fim, foi criada uma variável dependente, “nível de disclosure voluntário”, que corresponde a 38 indicadores de informações coletados manualmente dos demonstrativos e sites das empresas. Após, estimou-se um modelo de regressão com dados em painel balanceados através do efeito threshold para tamanho, a fim de identificar a relação entre as variáveis. Os resultados indicaram que as empresas menores, com estrutura de controle mais concentrada, tendem a apresentar maior nível de disclosure voluntário. Contudo, para as maiores empresas, quanto maior a concentração da estrutura de controle, menor a evidenciação dessas informações. Essas inferências levam a crer que as maiores corporações brasileiras com controle mais concentrado podem não estar interessadas em divulgar informações voluntárias, porque a maioria de seus acionistas goza de benefícios privados de controle.Universidade Federal de Santa Catarina2020-11-05info:eu-repo/semantics/articleinfo:eu-repo/semantics/publishedVersionTheoritical-empirical researchapplication/pdfhttps://periodicos.ufsc.br/index.php/adm/article/view/6058210.5007/2175-8077.2019v21n55p21Revista de Ciências da Administração; v. 21 n. 55 (2019); 21-382175-80771516-3865reponame:Revista de Ciências da Administraçãoinstname:Universidade Federal de Santa Catarina (UFSC)instacron:UFSCenghttps://periodicos.ufsc.br/index.php/adm/article/view/60582/pdfCopyright (c) 2020 Revista de Ciências da Administraçãoinfo:eu-repo/semantics/openAccessMachado, Vagner NaysingerSonza, Igor Bernardi2020-11-05T19:02:05Zoai:periodicos.ufsc.br:article/60582Revistahttp://www.periodicos.ufsc.br/index.php/admPUBhttps://periodicos.ufsc.br/index.php/adm/oairevista@cse.ufsc.br||mfpcris@gmail.com||rca.cse@contato.ufsc.br2175-80771516-3865opendoar:2020-11-05T19:02:05Revista de Ciências da Administração - Universidade Federal de Santa Catarina (UFSC)false |
dc.title.none.fl_str_mv |
The efect of size on the relationship between control structure and voluntary disclosure in Brazilian companies O efeito do tamanho na relação entre estrutura de controle e disclosure voluntário de companhias brasileiras |
title |
The efect of size on the relationship between control structure and voluntary disclosure in Brazilian companies |
spellingShingle |
The efect of size on the relationship between control structure and voluntary disclosure in Brazilian companies Machado, Vagner Naysinger |
title_short |
The efect of size on the relationship between control structure and voluntary disclosure in Brazilian companies |
title_full |
The efect of size on the relationship between control structure and voluntary disclosure in Brazilian companies |
title_fullStr |
The efect of size on the relationship between control structure and voluntary disclosure in Brazilian companies |
title_full_unstemmed |
The efect of size on the relationship between control structure and voluntary disclosure in Brazilian companies |
title_sort |
The efect of size on the relationship between control structure and voluntary disclosure in Brazilian companies |
author |
Machado, Vagner Naysinger |
author_facet |
Machado, Vagner Naysinger Sonza, Igor Bernardi |
author_role |
author |
author2 |
Sonza, Igor Bernardi |
author2_role |
author |
dc.contributor.author.fl_str_mv |
Machado, Vagner Naysinger Sonza, Igor Bernardi |
description |
This study aims to analyze the influence of size on the relationship between the control structure on the voluntary disclosure policy of the listed companies in B3. To achieve this goal, we created a dependent variable, called "voluntary disclosure level", which corresponds to 38 indicators of information collected manually from the companies' statements and websites. Afterwards, we estimated a balanced panel data regression model with a threshold effect for size in order to identify the relationship between the variables. The results indicated that smaller companies, with a more concentrated control structure, tended to present a higher level of voluntary disclosure. However, for larger companies, the greater the concentration of the control structure, the less evidence of this information. These inferences lead to believe that the largest Brazilian corporations, with more concentrated control, may not be interested in disclosing voluntary information because most of their shareholders enjoy private control benefits. |
publishDate |
2020 |
dc.date.none.fl_str_mv |
2020-11-05 |
dc.type.driver.fl_str_mv |
info:eu-repo/semantics/article info:eu-repo/semantics/publishedVersion Theoritical-empirical research |
format |
article |
status_str |
publishedVersion |
dc.identifier.uri.fl_str_mv |
https://periodicos.ufsc.br/index.php/adm/article/view/60582 10.5007/2175-8077.2019v21n55p21 |
url |
https://periodicos.ufsc.br/index.php/adm/article/view/60582 |
identifier_str_mv |
10.5007/2175-8077.2019v21n55p21 |
dc.language.iso.fl_str_mv |
eng |
language |
eng |
dc.relation.none.fl_str_mv |
https://periodicos.ufsc.br/index.php/adm/article/view/60582/pdf |
dc.rights.driver.fl_str_mv |
Copyright (c) 2020 Revista de Ciências da Administração info:eu-repo/semantics/openAccess |
rights_invalid_str_mv |
Copyright (c) 2020 Revista de Ciências da Administração |
eu_rights_str_mv |
openAccess |
dc.format.none.fl_str_mv |
application/pdf |
dc.publisher.none.fl_str_mv |
Universidade Federal de Santa Catarina |
publisher.none.fl_str_mv |
Universidade Federal de Santa Catarina |
dc.source.none.fl_str_mv |
Revista de Ciências da Administração; v. 21 n. 55 (2019); 21-38 2175-8077 1516-3865 reponame:Revista de Ciências da Administração instname:Universidade Federal de Santa Catarina (UFSC) instacron:UFSC |
instname_str |
Universidade Federal de Santa Catarina (UFSC) |
instacron_str |
UFSC |
institution |
UFSC |
reponame_str |
Revista de Ciências da Administração |
collection |
Revista de Ciências da Administração |
repository.name.fl_str_mv |
Revista de Ciências da Administração - Universidade Federal de Santa Catarina (UFSC) |
repository.mail.fl_str_mv |
revista@cse.ufsc.br||mfpcris@gmail.com||rca.cse@contato.ufsc.br |
_version_ |
1789435142984433664 |