Escolha do uso do valor justo para propriedades para investimentos: uma influência das características de empresas listadas na BM&FBOVESPA e na NYSE
Autor(a) principal: | |
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Data de Publicação: | 2014 |
Tipo de documento: | Dissertação |
Idioma: | por |
Título da fonte: | Repositório Institucional da UFU |
Texto Completo: | https://repositorio.ufu.br/handle/123456789/12612 https://doi.org/10.14393/ufu.di.2014.515 |
Resumo: | The research aimed to identify possible explanations for the accounting choices made by managers of public companies listed on the NYSE and the BM&FBOVESPA, in relation to subsequent measurement of investment properties. As a complement, we searched to identify the consequence of those choices for the accounting information user, and by identifying the degree of comparability of financial reports for the year 2013. The proposed hypotheses regarding the incentives of managers\' decisions were based on the Theory the Agency and the positivist approach, assuming that the accounting choices might be explained by the relation between the characteristics of the company and the managers‟ interests. The degree of comparability was calculated using the T index Taplin. The present study identified that, in a more conservative manner, to both stock exchanges increased the use of the method of cost for the sample companies. Comparability among companies listed on the BM&FBOVESPA and NYSE, variables Big Four, size of company, relevance of PPI amount, and the fact that the company belongs to the telecommunications industry, is presented as explanatory variables incentive for decision of the accounting method to be used. The analysis by the capital market for companies listed on the BM&FBOVESPA, the variable which was influential in the decision as to the accounting method used by companies was the leverage ratio. However, the model presented neutral discriminatory power and greater success for probable cases of cost adoption. In contrast, for companies listed on NYSE, the model showed excellent discriminatory power and greater success for probable cases of fair value adoption. The variables that appeared influential in this market, so the decision on the accounting method, were the relevance of the balance of PPI and the degree of profitability. Even with the existence of accounting choices, it is considered that there is comparability between accounting practices in recognition of investment property companies listed on the BM&FBOVESPA and NYSE. However, the degree of comparability was presented low for the international comparability (between stock exchanges), and in the medium, near the lower limit for comparability per stock exchange. A curious fact is that it was presented greater degree of comparability for the companies listed on the BM&FBOVESPA in relation to companies listed on the NYSE, which is a more developed capital market. In the analysis of comparability by sector, it was noticed that among the listed companies, there was medium degree of comparability near the upper limit. It was also inferred that the low degree of comparability identified is strongly linked to the dispersion of measurement methods. In that way, before choosing the accounting permitted for subsequent measurement for PPI, it was identified that the characteristics of the companies are realized as incentive to an accounting method adoption(more specifically the fair value), however, such accounting choices provided a low degree of international comparability and a medium degree of comparability per stock exchange. |
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Escolha do uso do valor justo para propriedades para investimentos: uma influência das características de empresas listadas na BM&FBOVESPA e na NYSEEscolhas contábeisComparabilidadePropriedades para investimentoÍndice TÍndicesInvestimentosAccounting choicesComparabilityInvestment propertiesT indexCNPQ::CIENCIAS SOCIAIS APLICADAS::ADMINISTRACAO::CIENCIAS CONTABEISThe research aimed to identify possible explanations for the accounting choices made by managers of public companies listed on the NYSE and the BM&FBOVESPA, in relation to subsequent measurement of investment properties. As a complement, we searched to identify the consequence of those choices for the accounting information user, and by identifying the degree of comparability of financial reports for the year 2013. The proposed hypotheses regarding the incentives of managers\' decisions were based on the Theory the Agency and the positivist approach, assuming that the accounting choices might be explained by the relation between the characteristics of the company and the managers‟ interests. The degree of comparability was calculated using the T index Taplin. The present study identified that, in a more conservative manner, to both stock exchanges increased the use of the method of cost for the sample companies. Comparability among companies listed on the BM&FBOVESPA and NYSE, variables Big Four, size of company, relevance of PPI amount, and the fact that the company belongs to the telecommunications industry, is presented as explanatory variables incentive for decision of the accounting method to be used. The analysis by the capital market for companies listed on the BM&FBOVESPA, the variable which was influential in the decision as to the accounting method used by companies was the leverage ratio. However, the model presented neutral discriminatory power and greater success for probable cases of cost adoption. In contrast, for companies listed on NYSE, the model showed excellent discriminatory power and greater success for probable cases of fair value adoption. The variables that appeared influential in this market, so the decision on the accounting method, were the relevance of the balance of PPI and the degree of profitability. Even with the existence of accounting choices, it is considered that there is comparability between accounting practices in recognition of investment property companies listed on the BM&FBOVESPA and NYSE. However, the degree of comparability was presented low for the international comparability (between stock exchanges), and in the medium, near the lower limit for comparability per stock exchange. A curious fact is that it was presented greater degree of comparability for the companies listed on the BM&FBOVESPA in relation to companies listed on the NYSE, which is a more developed capital market. In the analysis of comparability by sector, it was noticed that among the listed companies, there was medium degree of comparability near the upper limit. It was also inferred that the low degree of comparability identified is strongly linked to the dispersion of measurement methods. In that way, before choosing the accounting permitted for subsequent measurement for PPI, it was identified that the characteristics of the companies are realized as incentive to an accounting method adoption(more specifically the fair value), however, such accounting choices provided a low degree of international comparability and a medium degree of comparability per stock exchange.Fundação de Amparo a Pesquisa do Estado de Minas GeraisMestre em Ciências ContábeisA pesquisa objetivou identificar as possíveis explicações para as escolhas contábeis realizadas por gestores de companhias abertas listadas na NYSE e na BM&FBOVESPA, com relação à mensuração subsequente de Propriedades para Investimentos. De forma complementar, buscou-se identificar a consequência dessas escolhas para o usuário da informação contábil, e por meio da identificação do grau de comparabilidade dos relatórios financeiros do ano de 2013. As hipóteses levantadas referentes aos incentivos das decisões dos gestores foram embasadas na Teoria da Agência e na abordagem positivista, pressupondo que as escolhas contábeis podem ser explicadas por meio da relação entre as características das empresas e os interesses dos gestores. O grau de comparabilidade foi calculado por meio do índice T de Taplin. O presente estudo identificou que, de uma forma mais conservadora, para ambas as bolsas ocorreu maior utilização do método do custo pelas empresas da amostra. Na comparabilidade entre as empresas listadas na BM&FBOVESPA e na NYSE, as variáveis Big Four, tamanho da empresa, relevância do saldo de PPI e o fato de a empresa pertencer ao setor de telecomunicações, apresentaram-se como variáveis explicativas do incentivo para a decisão sobre o método contábil a ser utilizado. Na análise por mercado de capitais, para as empresas listadas na BM&FBOVESPA, a variável que se apresentou influente para a decisão quanto ao método contábil utilizado pelas empresas foi o grau de endividamento. Entretanto, o modelo apresentou poder discriminatório neutro e com maior grau de acertos para os casos prováveis de adoção do custo. Diferentemente, para as empresas listadas na NYSE, o modelo apresentou poder discriminatório excelente e com maior grau de acertos para os casos prováveis de adoção do valor justo. As variáveis que se apresentaram influentes neste mercado, para a decisão sobre o método contábil, foram a relevância do saldo de PPI e o grau de rentabilidade. Mesmo com a existência de escolhas contábeis, considera-se que existe comparabilidade entre as práticas contábeis no reconhecimento em propriedades para investimentos das empresas listadas na BM&FBOVESPA e na NYSE. Entretanto, o grau de comparabilidade apresentou-se baixo para a comparabilidade internacional (entre bolsas de valores), e médio, próximo ao limite inferior para a comparabilidade por bolsa. Fato curioso é que foi apresentado grau de comparabilidade maior para as empresas listadas na BM&FBOVESPA em relação às empresas listadas na NYSE, que é um mercado de capitais mais desenvolvido. Na análise da comparabilidade por setor, percebe-se que entre as empresas listadas, houve grau de comparabilidade médio próximo ao limite superior. Inferiuse também que os baixos graus de comparabilidade identificados estão fortemente ligados à dispersão dos métodos de mensuração. Assim, perante a escolha contábil permitida para a mensuração subsequente para PPI, identificou-se que as características das empresas configuram-se como incentivo para adoção de um método contábil (mais especificamente o valor justo), no entanto, tais escolhas contábeis proporcionaram um baixo grau de comparabilidade internacional e um médio grau de comparabilidade por bolsa.Universidade Federal de UberlândiaBRPrograma de Pós-graduação em Ciências ContábeisContabilidade FinanceiraUFULemes, Sirleihttp://buscatextual.cnpq.br/buscatextual/visualizacv.do?id=K4702996Y5Salotti, Bruno Meirelleshttp://buscatextual.cnpq.br/buscatextual/visualizacv.do?id=K4732549A9Rech, Ilírio Joséhttp://buscatextual.cnpq.br/buscatextual/visualizacv.do?id=K4718148Y0Botinha, Reiner Alves2016-06-22T18:32:40Z2015-03-102016-06-22T18:32:40Z2014-11-11info:eu-repo/semantics/publishedVersioninfo:eu-repo/semantics/masterThesisapplication/pdfapplication/pdfBOTINHA, Reiner Alves. Escolha do uso do valor justo para propriedades para investimentos: uma influência das características de empresas listadas na BM&FBOVESPA e na NYSE. 2014. 137 f. Dissertação (Mestrado em Contabilidade Financeira) - Universidade Federal de Uberlândia, Uberlândia, 2014. DOI https://doi.org/10.14393/ufu.di.2014.515https://repositorio.ufu.br/handle/123456789/12612https://doi.org/10.14393/ufu.di.2014.515porinfo:eu-repo/semantics/openAccessreponame:Repositório Institucional da UFUinstname:Universidade Federal de Uberlândia (UFU)instacron:UFU2021-10-21T20:57:06Zoai:repositorio.ufu.br:123456789/12612Repositório InstitucionalONGhttp://repositorio.ufu.br/oai/requestdiinf@dirbi.ufu.bropendoar:2021-10-21T20:57:06Repositório Institucional da UFU - Universidade Federal de Uberlândia (UFU)false |
dc.title.none.fl_str_mv |
Escolha do uso do valor justo para propriedades para investimentos: uma influência das características de empresas listadas na BM&FBOVESPA e na NYSE |
title |
Escolha do uso do valor justo para propriedades para investimentos: uma influência das características de empresas listadas na BM&FBOVESPA e na NYSE |
spellingShingle |
Escolha do uso do valor justo para propriedades para investimentos: uma influência das características de empresas listadas na BM&FBOVESPA e na NYSE Botinha, Reiner Alves Escolhas contábeis Comparabilidade Propriedades para investimento Índice T Índices Investimentos Accounting choices Comparability Investment properties T index CNPQ::CIENCIAS SOCIAIS APLICADAS::ADMINISTRACAO::CIENCIAS CONTABEIS |
title_short |
Escolha do uso do valor justo para propriedades para investimentos: uma influência das características de empresas listadas na BM&FBOVESPA e na NYSE |
title_full |
Escolha do uso do valor justo para propriedades para investimentos: uma influência das características de empresas listadas na BM&FBOVESPA e na NYSE |
title_fullStr |
Escolha do uso do valor justo para propriedades para investimentos: uma influência das características de empresas listadas na BM&FBOVESPA e na NYSE |
title_full_unstemmed |
Escolha do uso do valor justo para propriedades para investimentos: uma influência das características de empresas listadas na BM&FBOVESPA e na NYSE |
title_sort |
Escolha do uso do valor justo para propriedades para investimentos: uma influência das características de empresas listadas na BM&FBOVESPA e na NYSE |
author |
Botinha, Reiner Alves |
author_facet |
Botinha, Reiner Alves |
author_role |
author |
dc.contributor.none.fl_str_mv |
Lemes, Sirlei http://buscatextual.cnpq.br/buscatextual/visualizacv.do?id=K4702996Y5 Salotti, Bruno Meirelles http://buscatextual.cnpq.br/buscatextual/visualizacv.do?id=K4732549A9 Rech, Ilírio José http://buscatextual.cnpq.br/buscatextual/visualizacv.do?id=K4718148Y0 |
dc.contributor.author.fl_str_mv |
Botinha, Reiner Alves |
dc.subject.por.fl_str_mv |
Escolhas contábeis Comparabilidade Propriedades para investimento Índice T Índices Investimentos Accounting choices Comparability Investment properties T index CNPQ::CIENCIAS SOCIAIS APLICADAS::ADMINISTRACAO::CIENCIAS CONTABEIS |
topic |
Escolhas contábeis Comparabilidade Propriedades para investimento Índice T Índices Investimentos Accounting choices Comparability Investment properties T index CNPQ::CIENCIAS SOCIAIS APLICADAS::ADMINISTRACAO::CIENCIAS CONTABEIS |
description |
The research aimed to identify possible explanations for the accounting choices made by managers of public companies listed on the NYSE and the BM&FBOVESPA, in relation to subsequent measurement of investment properties. As a complement, we searched to identify the consequence of those choices for the accounting information user, and by identifying the degree of comparability of financial reports for the year 2013. The proposed hypotheses regarding the incentives of managers\' decisions were based on the Theory the Agency and the positivist approach, assuming that the accounting choices might be explained by the relation between the characteristics of the company and the managers‟ interests. The degree of comparability was calculated using the T index Taplin. The present study identified that, in a more conservative manner, to both stock exchanges increased the use of the method of cost for the sample companies. Comparability among companies listed on the BM&FBOVESPA and NYSE, variables Big Four, size of company, relevance of PPI amount, and the fact that the company belongs to the telecommunications industry, is presented as explanatory variables incentive for decision of the accounting method to be used. The analysis by the capital market for companies listed on the BM&FBOVESPA, the variable which was influential in the decision as to the accounting method used by companies was the leverage ratio. However, the model presented neutral discriminatory power and greater success for probable cases of cost adoption. In contrast, for companies listed on NYSE, the model showed excellent discriminatory power and greater success for probable cases of fair value adoption. The variables that appeared influential in this market, so the decision on the accounting method, were the relevance of the balance of PPI and the degree of profitability. Even with the existence of accounting choices, it is considered that there is comparability between accounting practices in recognition of investment property companies listed on the BM&FBOVESPA and NYSE. However, the degree of comparability was presented low for the international comparability (between stock exchanges), and in the medium, near the lower limit for comparability per stock exchange. A curious fact is that it was presented greater degree of comparability for the companies listed on the BM&FBOVESPA in relation to companies listed on the NYSE, which is a more developed capital market. In the analysis of comparability by sector, it was noticed that among the listed companies, there was medium degree of comparability near the upper limit. It was also inferred that the low degree of comparability identified is strongly linked to the dispersion of measurement methods. In that way, before choosing the accounting permitted for subsequent measurement for PPI, it was identified that the characteristics of the companies are realized as incentive to an accounting method adoption(more specifically the fair value), however, such accounting choices provided a low degree of international comparability and a medium degree of comparability per stock exchange. |
publishDate |
2014 |
dc.date.none.fl_str_mv |
2014-11-11 2015-03-10 2016-06-22T18:32:40Z 2016-06-22T18:32:40Z |
dc.type.status.fl_str_mv |
info:eu-repo/semantics/publishedVersion |
dc.type.driver.fl_str_mv |
info:eu-repo/semantics/masterThesis |
format |
masterThesis |
status_str |
publishedVersion |
dc.identifier.uri.fl_str_mv |
BOTINHA, Reiner Alves. Escolha do uso do valor justo para propriedades para investimentos: uma influência das características de empresas listadas na BM&FBOVESPA e na NYSE. 2014. 137 f. Dissertação (Mestrado em Contabilidade Financeira) - Universidade Federal de Uberlândia, Uberlândia, 2014. DOI https://doi.org/10.14393/ufu.di.2014.515 https://repositorio.ufu.br/handle/123456789/12612 https://doi.org/10.14393/ufu.di.2014.515 |
identifier_str_mv |
BOTINHA, Reiner Alves. Escolha do uso do valor justo para propriedades para investimentos: uma influência das características de empresas listadas na BM&FBOVESPA e na NYSE. 2014. 137 f. Dissertação (Mestrado em Contabilidade Financeira) - Universidade Federal de Uberlândia, Uberlândia, 2014. DOI https://doi.org/10.14393/ufu.di.2014.515 |
url |
https://repositorio.ufu.br/handle/123456789/12612 https://doi.org/10.14393/ufu.di.2014.515 |
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language |
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application/pdf application/pdf |
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Universidade Federal de Uberlândia BR Programa de Pós-graduação em Ciências Contábeis Contabilidade Financeira UFU |
publisher.none.fl_str_mv |
Universidade Federal de Uberlândia BR Programa de Pós-graduação em Ciências Contábeis Contabilidade Financeira UFU |
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reponame:Repositório Institucional da UFU instname:Universidade Federal de Uberlândia (UFU) instacron:UFU |
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Universidade Federal de Uberlândia (UFU) |
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Repositório Institucional da UFU |
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Repositório Institucional da UFU |
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Repositório Institucional da UFU - Universidade Federal de Uberlândia (UFU) |
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diinf@dirbi.ufu.br |
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