Disertación/Tesis

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2024
Disertaciones
1
  • FRANKLIN FEITOSA GRAMACHO
  • THE INFLUENTIAL DEMOGRAPHIC, SOCIOECONOMIC, POLITICAL-INSTITUTIONAL AND TAX ACCOUNTING OF MUNICIPAL TRANSPARENCY: AN APPROACH QUANTILE
  • Líder : JOSE SERGIO CASE DE OLIVEIRA
  • MIEMBROS DE LA BANCA :
  • LIDIANE NAZARÉ DA SILVA DIAS
  • JORGE DE SOUZA BISPO
  • JOSE SERGIO CASE DE OLIVEIRA
  • Data: 18-ene-2024


  • Resumen Espectáculo
  • Recent studies report incipient levels and a high variation in the level of transparency of Brazilian municipalities, exposing that the decision to disclose information transcends legal impositions. The heterogeneity of transparency levels among local governments is not exclusive to Brazil and the literature that investigates the factors that would influence this variation indicates divergent results. An important gap in this literature is that the authors limit themselves to evaluating the effects of explanatory variables on the average of municipal public transparency, that is, they adopt a generalist premise by suggesting that the existence or not of influences, as well as the size and direction of the effects, are the same regardless of the local culture of transparency. Thus, considering the demographic, socioeconomic, political-institutional, and fiscal accounting influences indicated by the literature, the objective of this research is to verify which variables make up the three sets of factors that influence the public transparency of Brazilian municipalities at levels high, medium, and low of culture of transparency. Based on the Legitimacy Theory, especially strategic legitimacy, it is suggested as a hypothesis that the three sets of variables that influence the public transparency of Brazilian municipalities at high, medium, and low levels of transparency are not identical. To meet the research objective, the methodological approach relies on the Quasi-Cauchy quantile regression model. Quantiles 0.25 (q25), 0.50 (q50) and 0.75 (q75) are explored, where q25 represents a culture with a low level of transparency, q50 represents a culture with a medium level of transparency and q75 represents a culture of high level of municipal public transparency. The research findings do not allow us to reject the research hypothesis. Among the 14 variables that influence q25, 6 are from the demographic dimension, 3 are from the socioeconomic dimension, 2 are from the political-institutional dimension and 3 are from the fiscal accounting dimension. Among the 16 variables that influence the q50, 6 are from the demographic dimension, 5 are from the socioeconomic dimension, 2 are from the political-institutional dimension and 3 are from the fiscal accounting dimension. Among the 13 variables that influence q75, 6 are from the demographic dimension, 3 are from the socioeconomic dimension, 1 is from the political-institutional dimension and 3 are from the fiscal accounting dimension. As a way of strengthening the research findings, a robustness analysis was proposed. Despite some differences in relation to the main model, the robustness analysis also does not allow rejecting the research hypothesis. The results of this study can be useful for citizens, legislative powers, and external control bodies. Among the contributions, the findings allow us to profile municipalities that tend not to be transparent. This can serve as red flags for legislatures and audit courts in their supervisory functions and for citizens to make more rational decisions, including electoral ones

2
  • MARIA PEDRINA SILVEIRA DE OLIVEIRA
  • THE INFLUENCE OF TAX WAIVER ON THE FORMATION OF THE PARTICIPATION FUND FOR MUNICIPALITIES AND REFLECTIONS ON PUBLIC INVESTMENTS
  • Líder : JORGE DE SOUZA BISPO
  • MIEMBROS DE LA BANCA :
  • JORGE DE SOUZA BISPO
  • JOSE MARIA DIAS FILHO
  • JOSEDILTON ALVES DINIZ
  • Data: 27-feb-2024


  • Resumen Espectáculo
  • The general objective of this study was to investigate the influences of tax waivers on the formation of the Municipal Participation Fund (FPM) and the effects on public investments made by municipalities in Bahia. This research is relevant due to the predominance of investigations on the topic in other Brazilian states and municipalities, with a lack of comprehensive studies from this perspective, especially related to tax waivers, FPM and public investments. By approaching accounting applied to the public sector, focusing on public budget, public revenues, collection and distribution, the study offers valuable insights for audit professionals, providing an improved understanding of the factors that influence municipal revenues and expenses. This information is essential to guide financial management decisions and identify areas for improvement in the accounting and financial management of municipalities. The results revealed a negative effect of the FPM variable, reducing the tendency of municipalities to reduce investments when receiving a larger portion of the FPM. On the other hand, the Tax Waiver variable had a positive and relevant impact on municipal expenses in all three moments, associating the tax waiver with an increase in municipal investments. It is crucial to note that the Pandemic variable, initially associated with a positive effect, turned into a negative effect after one and two years, indicating an unfavorable influence in the subsequent period. In general, the results point to a positive and statistically significant relationship between tax waiver, FPM and municipal investments, evidenced by positive coefficients and significant p-values in the quantile regression analysis, contradicting several previous studies. It is recommended for future research to analyze different or broader samples, covering other states or the country as a whole.

2023
Disertaciones
1
  • Rayara Alves Santos
  • THE RELATIONSHIP BETWEEN THE COMPOSITION OF THE BOARD OF MANAGEMENT AND CASH RETENTION IN COMPANIES OF OPEN CAPITAL
  • Líder : ANTONIO GUALBERTO PEREIRA
  • MIEMBROS DE LA BANCA :
  • ANTONIO GUALBERTO PEREIRA
  • JORGE DE SOUZA BISPO
  • JOSE SERGIO CASE DE OLIVEIRA
  • VAGNER ANTÔNIO MARQUES
  • Data: 25-ene-2023


  • Resumen Espectáculo
  • Cash management efficiently is a necessary condition for the maintenance of sustainability organizational financial and factors that influence cash holding decisions in the firms has been the subject of recent research. So, the objective of this dissertation was to investigate the relationship between Board composition and cash holding in light of theories such as Agency Theory, Trade-Off Theory and Pecking Order Theory. For this purpose, a quantitative survey was conducted on a sample with 2,340 observations in 234 publicly traded companies listed on the Brazil, Bolsa, Balcão (B3) in the period from 2010 to 2019. In order Tobit Random Effects was the best fitted econometric model to estimate the variables in both unrestricted and restricted forms manner and test six (6) hypotheses raised about the relationship between board composition (independence, duality, board gender, size, expertise, and director compensation) and cash holding. The results demonstrated statistical significance at the ten percent (10%) level between the dependent variable Cash Retention (REC1) and the independent variables: Expertise (EX) and CEO Duality (DU). Among the control variables, the ones that presented statistical significance were Cash Flow Volatility (VFC) and Working Capital (CG). Additionally, robustness analysis tests were carried out with an alternative proxy for cash retention in order to verify the maintenance, or not, of the empirical evidence found. In view of this, it is concluded that Corporate Governance, through the composition of the Board of Directors, Expertise and Duality of the CEO, is able to influence the cash retention policy in companies 

2
  • DAYSI LEAL DE SANTANA
  • ESSAYS IN ACCOUNTING EDUCATION
  • Líder : JOSE SERGIO CASE DE OLIVEIRA
  • MIEMBROS DE LA BANCA :
  • ANTONIO CARLOS RIBEIRO DA SILVA
  • GILBERTO JOSÉ MIRANDA
  • JOSE SERGIO CASE DE OLIVEIRA
  • Data: 26-ene-2023


  • Resumen Espectáculo
  • This paper discusses accounting performance in two essays. In the literature on accounting education, the Accounting Sufficiency Exam (ESC) is commonly used as a performance proxy, since it is a prerequisite for professional certification in the market. However, the ESC has a low approval rate, which encourages discussions about the factors that influence these results. The influence that institutional and educational factors can exert on the performance of students in the exam has already been identified and discussed. However, the first research gap pointed out concerns about the fact that there is no discussion about the influence that the labor market can have on performance in this exam. In this sense, the first essay aims to contribute to the literature and advancing in this perspective, with the objective of verifying if the economic situation of the labor market influences the performance of the students in ESC. In order to respond to the proposal, inflated beta regression models were used, considering two editions of the ESC that occurred in the same year. The findings show that the labor market situation influences the ESC approval rate, an unprecedented result in the literature. In a complementary way, the work also discusses the variables that influence the dispersion in the performance data, as well as the variables that influence the presence of 0 (total failure) and 1 (total approval) in the exam approval rates. The results obtained in the first essay are promising for future discussions about academic performance, presenting a channel of influence beyond the widely discussed characteristics of educational institutions. The second shortcoming concerning accounting education refers to the fact that the regression models used generally analyze the influence of several variables on the average performance, neglecting potential differences that exist along the different test scores. In view of this, no national studies were identified that deal with the measurement of accounting performance in ESC considering the different levels (low, medium and high) of performance, so the second essay aims to identify which factors influence the low, medium and high performance of students in the Accounting Proficiency Exam. We used quantile regression to obtain answers to the question raised and considered the combination of two editions of the ESC for an annual analysis of the exam. It can be discussed about the findings that the variables do not present a constant behavior at all levels of performance, that is, they have influence on a certain quantile of performance and do not present on others. These results help the discussion about accounting performance, expanding the disparate view on what has been used in the elaboration of educational policies, attesting that the form of influence of a variable is not the same at all levels of performance in ESC and, therefore, the benefits of this contribution to academia should not be overlooked.

3
  • Polliany Lima Silva
  • CORPORATE SOCIAL RESPONSIBILITY AND MEDIA VISIBILITY: DONATIONS DURING THE COVID-19 PANDEMIC AND THE MARKET VALUE OF COMPANIES
  • Líder : JORGE DE SOUZA BISPO
  • MIEMBROS DE LA BANCA :
  • JORGE DE SOUZA BISPO
  • ANTONIO CARLOS RIBEIRO DA SILVA
  • DUCINELI RÉGIS BOTELHO
  • Data: 27-mar-2023


  • Resumen Espectáculo
  • Studies in behavioral finance are beginning to focus their efforts on understanding how online audiences react to these ads and how this influences financial decisions. However, there is a knowledge gap in the literature on public perceptions of social responsibility advertisements using online search trends. Likewise, the findings indicating that socially responsible companies were chosen in preference to other companies during the Covid-19 pandemic are still dubious. With a view to studying the perception of stakeholders regarding donation announcements during the pandemic, this study had the general objective of investigating whether, during the first two years of the Covid-19 pandemic, donor companies achieved market value and growth in greater media visibility than non-donor companies. The Market Value variable was negative in the period, consistent with the literature that reinforces that the financial effects associated with CSR scores last for a few days, not being maintained in the long term in periods of serious crisis. Thus, there is support for rejection of H1. On the other hand, the rejection of the hypothesis does not nullify the achievement of the research objectives, since the same variable was positive considering the period in which there was no pandemic. It is also worth noting that the robustness variable for stock returns was positive for companies that announced donations during the pandemic, which denotes that the donation produced positive effects during the pandemic, albeit in the short term. As for the second hypothesis of the research based on media visibility, there was no statistical significance when the pandemic effect was applied, not obtaining confidence to reject or not H2. Despite this factor, the results for the visibility variable were positive in the absence of the pandemic effect, which is consistent with studies that demonstrate a link between social initiatives and affective responses on the part of consumers. Overall findings indicate a trend that corporate philanthropy, driven by donations, generally helps companies achieve public legitimacy and financial performance. However, the severe effect of the pandemic did not allow the market to significantly absorb the financial return and visibility. The unavailability of data on donations is mentioned as a limitation, with no structural obligation in financial reports and no standardization. Another limitation is the lack of agreement in several literatures on the end of the pandemic, not allowing an analysis of its 'post'. It is suggested for future research to use the same sample in order to control more effects of the peaks of the pandemic such as the announcement of the lockdown, vaccine effect, economic measures adopted by the government, among others. In summary, the objective of the study and the research problem were met, in order to reinforce that social responsibility and the announcement of donations in general in isolation bring benefits, but failing to prove these effects during the pandemic in a significant way

4
  • Fabiana de Araujo Morais
  • TRANSPARENCY AND EVIDENCE OF REVENUE DISCLAIMER IN THE FRAMEWORK OF ENVIRONMENTAL FISCAL INCENTIVES: ONE ANALYSIS OF THE ADOPTION OF THE GREEN IPTU BY MUNICIPALITIES BAIANOS
  • Líder : SONIA MARIA DA SILVA GOMES
  • MIEMBROS DE LA BANCA :
  • ANDRÉ LUIS ROCHA DE SOUZA
  • ANTONIO GUALBERTO PEREIRA
  • SONIA MARIA DA SILVA GOMES
  • Data: 05-may-2023


  • Resumen Espectáculo
  • The general objective of the present study was to verify, from the standpoint of public transparency, the way in which the municipalities of the state of Bahia that have adopted the Green IPTU have disclosed their respective revenue waivers. To this end, exploratory and descriptive research with a qualitative approach was employed. Initially, bibliographic and documentary research was carried out on the theme in question. Then, we conducted a content analysis of the information collected from the Transparency Portals of the municipalities of Camaçari, Feira de Santana and Salvador, through the investigative model in the format of a checklist of questions. Moreover, as additional subsidies to the discussion of the results, data were collected from other official websites of the Municipalities, as well as from the Municipal Chambers and the Audit Court of Bahia Municipalities - TCM/BA. In addition to the individual diagnosis of each entity, the municipalities were analyzed together in order to compare their realities in relation to the dimensions of transparency in the granting of tax incentives suggested by Zee, Stotsky and Ley (2002). The results pointed, firstly, to the existence of problems in the effectiveness and efficiency of the active transparency of the Transparency Portals of the Municipalities studied, with regard to access to information on public finances. Secondly, these findings indicate, therefore, the occurrence of total lack of transparency (opacity) in the disclosure of revenue waivers resulting from the granting of the green IPTU. The main contribution of the study consists in fostering the debate about the important role of municipalities in ensuring the right of access to this type of information by citizens, in order to promote the culture of transparency, as well as sustainable urban development.

5
  • Julita Ribeiro Ferreira
  • Determinants of Ambiguity Aversion and Availability biases in government auditors' behavior

  • Líder : CESAR VALENTIM DE OLIVEIRA CARVALHO JUNIOR
  • MIEMBROS DE LA BANCA :
  • CESAR VALENTIM DE OLIVEIRA CARVALHO JUNIOR
  • EDGARD BRUNO CORNACCHIONE JUNIOR
  • LUIS PAULO GUIMARAES DOS SANTOS
  • Data: 12-may-2023


  • Resumen Espectáculo
  • Understanding how individuals make decisions and judgments, especially in environments of risks and uncertainties, has been the subject of studies in the field of Behavioral Finance. In this context, this dissertation aims to analyze how some determinants can affect the judgment of government auditors. The research was carried out using an online survey questionnaire, with which data were obtained to verify the relationship between the variables gender, age, professional experience, and academic education and the manifestation of cognitive biases that can influence behavior. The cognitive biases considered are Ambiguity Aversion and Availability. The results indicated that the determinants used had no significant impact on the ambiguity bias. However, the availability bias was influenced by gender, not having been impacted by the other variables considered. In this way, the research contributes to the literature for reflection on the need to deepen the study in the field of Government Auditing that considers behavioral aspects related to gender, as well as to show the importance of expanding the research between variables and other cognitive biases that may influence the behavior of government auditors

6
  • Lucas Faillace Castelo Branco
  • PROFITABILITY AND TAX INDEBTEDNESS OF COMPANIES B3 INDUSTRIAL GOODS SECTOR
  • Líder : JORGE DE SOUZA BISPO
  • MIEMBROS DE LA BANCA :
  • JACQUELINE VENEROSO ALVES DA CUNHA
  • JORGE DE SOUZA BISPO
  • JOSEILTON SILVEIRA DA ROCHA
  • Data: 16-jun-2023


  • Resumen Espectáculo
  • The capital structure refers to the relationship between equity and debt that maximizes the value of the company, assuming that there is an association between leverage and profitability. Various theories seek to explain this association, including the theory of tax advantage. The theory of tax advantage suggests that there are benefits to debt due to the deductibility of interest on third-party capital. This theory has been expanded in Brazil to also consider the benefits of deductibility of interest on equity, which is peculiar to the Brazilian reality. With a focus on the deductibility of interest, whether on equity or third-party capital, the theory of tax advantage can be further expanded. Non-empirical studies show that companies in Brazil choose to postpone tax payments as much as possible, which implies cash availability and the needlessness for (more) loans. These cash resources can then be used to finance the company's activities. This research aimed to verify the effects of long-term tax liabilities, considering IRPJ and CSLL, on the profitability of companies, measured by ROA and ROE, thus formulating two research hypotheses. Data were collected from the Economática platform of the industrial goods sector of B3 from 2014 to 2019 to test the research hypotheses. The Ordinary Least Squares (OLS) method was used with an unbalanced panel. The obtained results did not confirm the research hypotheses, which stated that companies with higher long-term tax liabilities have higher profitability measured by ROA and ROE. The use of OLS with an unbalanced panel may have led to a loss of efficiency in the OLS estimator, suggesting the use of specific methods for unbalanced panels, such as the Generalized Method of Moments (GMM) estimator or the random effects model in future research. The findings and considerations of this study provide guidance for the improvement of future research.

7
  • Aline Mendonça de Andrade
  • FEES PAID TO INDEPENDENT AUDITORS FOR SERVICES TAX AND TAX AVOIDANCE OF BRAZILIAN COMPANIES
  • Líder : LUIS PAULO GUIMARAES DOS SANTOS
  • MIEMBROS DE LA BANCA :
  • ANTONIO LOPO MARTINEZ
  • JOSE MARIA DIAS FILHO
  • LUIS PAULO GUIMARAES DOS SANTOS
  • Data: 26-jun-2023


  • Resumen Espectáculo
  • The present study verified whether, in Brazil, the level of tax avoidance of the firm, measured through the different ways of representing the effective corporate income tax rate, varies according to the remuneration value paid to the independent auditor for the tax services provided in together with the audit services. For this, a study was carried out with data extracted from the financial statements in the Economática database and data collected in the reference form referring to the period from 2011 to 2020, with a total of 1,584 company-year observations in an unbalanced panel. Statistical analysis for estimating the coefficients was performed using ordinary least squares and fixed effects with Driscoll and Kraay estimator. The results suggest that the amount of remuneration paid to the independent auditor for the tax services provided in conjunction with the audit services positively influences the company's tax avoidance, and it was verified that managers reduce the tax burden through strategies that affect accounting profit and taxable income, carry out tax planning through tax deferral and postpone the payment of income tax and social contribution to future years. As additional results, evidence that complements the studies by Santos et al. (2021) when exposing that both the fact that a company only buys tax services from the auditor and the fact that it pays higher amounts for tax services in relation to the entire amount paid to the audit firm positively affect the company's tax avoidance. In addition, in a sample where companies that did not pay their auditors for tax services were disregarded, it was found that the tax services remuneration provided by the auditor was related in different ways with the tax avoidance proxies, with strategies being observed that affect more intensely the deferred component of the effective corporate income tax rate, in addition to strategies that do not postpone the taxes payment to a future moment. Finally, it was concluded that measuring the main explanatory variable through the ratio between the amount paid for tax services and the total amount paid to the audit firm or by calculating the logarithm of amounts paid by the tax service does not interfere with the results, maintaining the positive relationship with tax avoidance. The study contributes to the national and international literature by reinforcing the existence of an overflow of knowledge between the joint provision of tax and audit services and the reduction of the tax burden. Furthermore, it brings evidence of the use of different ways of measuring the effective corporate income tax rate as proxies of tax avoidance, demonstrating the different perspectives of carrying out tax planning.

8
  • Lenio Vitor Oliveira Menezes
  • Aggregate accounting earnings reflect information about inflation? A study of the Brazilian scenario between the years 2012 to 2020.
  • Líder : JOSE SERGIO CASE DE OLIVEIRA
  • MIEMBROS DE LA BANCA :
  • JOSE SERGIO CASE DE OLIVEIRA
  • JOSEILTON SILVEIRA DA ROCHA
  • ANTONIO LOPO MARTINEZ
  • Data: 14-jul-2023


  • Resumen Espectáculo
  • This study aims to investigate whether the aggregate accounting earnings of firms in the Brazilian stock market (B3) have the ability to support predict inflation information. As it proposes to analyze aggregate accounting data, the research brings more empirical evidence to inflation from a perspective not yet explored by the national literature. Using as a methodological basis an adaptation of the process used by Shivakumar and Urcan (2017), the empirical research was carried out with the collection of accounting earning data, at the firm level, of companies listed on B3, during the period from the first quarter of 2012 to the fourth quarter of 2020 obtained from the Economática® database. Next, earning aggregation was performed using the arithmetic average (equal-weighted), weighted average (value-weighted) and direct aggregation techniques. The economic variables were obtained from the Time Series Generator System (SGS) of the Brazilian Central Bank, IBGE and Ipeadata. The Autoregressive Vector (VAR) was chosen as an econometric technique because it allows forecasts to be made, in addition to enabling the identification of the time and intensity of the inflation response to a shock to aggregate earnings. The evidence found showed that, in the Brazilian reality, aggregate accounting earnings are capable of influencing future inflation. The results found allow accounting information, at the aggregate level, to be used as instruments for analyzing the efficiency of public policies, as well as presenting empirical evidence that reinforces the importance of studies in macroaccounting.

9
  • Alison Silva Ferreira
  • CORPORATE GOVERNANCE AND ACCOUNTING CONSERVATISM: A STUDY IN B3 COMPANIES
  • Líder : JOSE MARIA DIAS FILHO
  • MIEMBROS DE LA BANCA :
  • ANTONIO GUALBERTO PEREIRA
  • JOSE MARIA DIAS FILHO
  • MIGUEL ANGEL RIVERA CASTRO
  • Data: 29-ago-2023


  • Resumen Espectáculo
  • This study aimed to analyze the advisory value (expertise and sociopolitical influence) of the board members of companies listed on B3, considering them as relevant parameters for impacting accounting conservatism. The main independent variables were Expertise (education, experiences, skills, and competencies) and Sociopolitical Relations (political exposure and socio-community ties) as more specific mechanisms to support good corporate governance. The dependent variable used was Basu's Accounting Conservatism. The data for this study were secondary, with a sample consisting of 50 firms from the Brazilian Stock Exchange (B3), categorized into cyclical and non-cyclical entities, observed between 2017 and 2019. The analytical method used in this study was the balanced panel data analysis, using EViews 12. The results indicated that the analyzed companies had board members with more expertise characteristics compared to sociopolitical ties. This parameter (expertise) had a positive and significant effect on accounting conservatism, suggesting that board members with more experience and technical-professional skills tend to increase the level of conservatism, and therefore, corporate governance, helping companies to report losses beforehand. The variable defining sociopolitical characteristics did not show statistical significance, although it had a negative effect, as defined methodologically. The combined model of both variables (hybrid) showed a moderate, significant, and positive effect, indicating that the advisory value of board members impacts the level of accounting conservatism. These results support hypotheses 1 and 3. However, other governance variables added to improve control did not show significance, while the financial variables such as company size and debt showed a significant effect on the early reporting of undesirable accounting results. The models presented a moderate adequacy of the adjusted coefficient of determination (adjusted R²), with 53.87% for Model 1 and 41.36% for Mathematical Representation 2, both above the figures reported in previous literature for this estimator (conservatism), distinguishing this study from others in its field. The study suggests that using larger samples and expanding the methodology, especially by evaluating other professional characteristics as proxies for community-political influence, may yield more robust results with panel data. Furthermore, considering other variables to control for the effects of strict Brazilian regulations could be beneficial

10
  • CARLA FERNANDA UZEDA MARQUES
  • THE INFLUENCE OF INVESTMENT OPPORTUNITY AND OTHERS CORPORATE GOVERNANCE MECHANISMS IN THE FORMATION OF THE AUDIT COMMITTEE IN [B]3 COMPANIES
  • Líder : ANTONIO GUALBERTO PEREIRA
  • MIEMBROS DE LA BANCA :
  • ANTONIO GUALBERTO PEREIRA
  • JOSE SERGIO CASE DE OLIVEIRA
  • JORGE DE SOUZA BISPO
  • THIAGO BRUNO DE JESUS SILVA
  • Data: 16-oct-2023


  • Resumen Espectáculo
  • The present study sought to analyze the influence of the investment opportunity and other corporate governance mechanisms in the formation of the audit committee of companies listed in [B]3 . Among the monitoring and control mechanisms used in the analysis are the board of directors, the ownership structure and the external audit. To achieve this objective, a quantitative survey was carried out on a sample of 103 public companies listed on Brasil, Bolsa, Balcão [B]3 in the period from 2017 to 2021. The econometric model chosen to test the seven (7) hypotheses of the research, considering the variables in an unrestricted and restricted way, was the logit for panel data with random effects. The results indicated that companies with more investment opportunities influence the corporate governance structure, favoring the adoption of more monitoring and control mechanisms, specifically voluntary adoption of the audit committee. There is statistical significance between the dependent variable Audit committee (CA) and the independent variables: Board Independence (ICADM), Board size (SCADM) and Entrenchment-effect (V). These results corroborate with other correlated studies. Among the control variables, only the variable Firm size (TAM) was statistically significant. This research contributes to the national literature in the area of Corporate Governance, by showing the effect of investment opportunities on the voluntary constitution of the audit committee, expanding the evidence on the mechanisms of corporate governance in emerging markets. From a practical point of view, the findings can help investors and creditors to mitigate capital supply risks, since the mapping of the presence of greater investment opportunities and some internal corporate governance mechanisms suggests a better structured governance, which culminates in the voluntary institutionalization of an audit committee.

11
  • LAVÍNIA SOUSA GORDINHO
  • RELEVANCE OF THE INFORMATIONAL CONTENT OF FINANCIAL STATEMENTS FOR PREDICTING FUTURE RETURNS ON SHARE: EVIDENCE ON NET OPERATING ASSETS (NOA)
  • Líder : CESAR VALENTIM DE OLIVEIRA CARVALHO JUNIOR
  • MIEMBROS DE LA BANCA :
  • CESAR VALENTIM DE OLIVEIRA CARVALHO JUNIOR
  • LUIS PAULO GUIMARAES DOS SANTOS
  • ANTONIO LOPO MARTINEZ
  • Data: 07-dic-2023


  • Resumen Espectáculo
  • The objective of this study was to investigate the significance of the informational content of financial statements by analyzing the predictive ability of Net Operating Assets (NOA) in anticipating a strong negative relationship with future stock returns in the Brazilian market. The research integrated the lines of Behavioral Accounting and Value-Relevance in order to explore both the emotional and cognitive dimensions of interpretations of financial accounting information, as well as the impact of these on investors' market diagnoses and projections, providing a more accurate view of the interaction between human behavior, accounting information, and perceived value. To achieve this objective, the most recent protocol for studying the predictability of future stock returns through the NOA anomaly by Papanastasopoulos and Thomakos (2017) was utilized, fundamentally documented by Hirshleifer et al. (2004) and further developed by Papanastasopoulos, Thomakos, and Wang (2011) in North American and European contexts, where they found that NOAs are strong and negative predictors of future stock returns. In this study, within the Brazilian context, the results supported the aforementioned findings by indicating that NOAs are also strong negative predictors of future returns due to the statistical significance of the coefficient associated with this explanatory variable of interest in the sample and model used in this research

2022
Disertaciones
1
  • RAFAEL ROCHA SIMÕES
  • EXCESS OF MANAGEMENT CONFIDENCE AND ITS EFFECT ON BUSINESS STRATEGY: A COMPANY ANALYSIS BRAZILIAN OPEN CAPITAL LISTED IN BRAZIL, BOLSA, BALCON (B3)
  • Líder : JOSEILTON SILVEIRA DA ROCHA
  • MIEMBROS DE LA BANCA :
  • JOSEILTON SILVEIRA DA ROCHA
  • JORGE DE SOUZA BISPO
  • JOSE SERGIO CASE DE OLIVEIRA
  • CLAUDELINO MARTINS DIAS JÚNIOR
  • Data: 28-feb-2022


  • Resumen Espectáculo
  • This research aimed to measure the effect of the managerial cognitive bias of overconfidence on business strategy within the scope of publicly traded Brazilian companies listed on Brasil, Bolsa, Balcão (B3). In order to compose the sample of this research, a survey was carried out of the data of the companies that operate in B3 through the Economatica system, explanatory notes and a reference form. Such data were used as a basis for measuring indicators that represent the latent variables of the proposed empirical model to test the hypotheses, through multimomial logistic regression, which uses maximum likelihood estimation. Initially, the sample consisted of 382 companies that disclosed their accounting information. Of the total number of listed companies, 59 companies in the financial sector were excluded, 153 companies that presented information on sales revenue or total assets equal to zero in at least one period, 17 companies that did not provide information on the number of employees in a period at least and 18 companies that did not provide information about the company's market value, resulting in a sample composed of 135 companies evaluated during the period between 2010 and 2019, totaling 1,080 observations. As shown in the analysis of the results, overconfidence influences the definition of the analytical strategy. In other words, companies that manifest cognitive bias tend to adopt the analytical strategy when compared to defender and prospector strategies. Thus, responding to the research problem, although it was not possible to verify the effect of cognitive bias between defender and prospector companies.

2
  • DANILO BASTOS PAIXÃO
  • BOOK-TAX CONFORMITY AND TAX NEUTRALITY IFRS IN THE BRAZILIAN CONTEXT
  • Líder : JORGE DE SOUZA BISPO
  • MIEMBROS DE LA BANCA :
  • ELISEU MARTINS
  • ANTONIO GUALBERTO PEREIRA
  • JORGE DE SOUZA BISPO
  • Data: 27-jun-2022


  • Resumen Espectáculo
  • In the process of convergence from Brazil to IFRS, which is still evolving, two regulatory environments were instituted from tax perspective: the RTT and Law n. 12,973/14. These two regimes preach different tax systems to accommodate the new accounting standard. While the first regime established the segregation of corporate accounting from that used for tax purposes and the tax neutrality as a generic principle, the second uses corporate accounting converged to IFRS as a starting point for determining taxable profit and specifically address the fiscal neutrality of this new accounting standard. Considering that these differences may theoretically have a strong impact on the book-tax conformity level (BTC), the present study aimed to verify whether the BTC’s level in Brazil was lower during the RTT period when compared to those observed in the pre IFRS and Law nº 12,973/2014 periods, as well as to investigate whether there was a statistically significant difference between the BTC levels seen in the pre IFRS and post Law No. 12,973/2014. First, the model of Atwood et al (2010) was used to measure the BTC of each period. Then, the model of Tang (2014) was applied to assess the convergence of the results. Both models measure the level of BTC from the analysis of the root mean-squared error (RMSE) estimated in the regressions, preaching that a higher (lower) RMSE indicates lower (higher) BTC. Based on sample data from publicly-held companies listed on B3, obtained through the Economática® software, the RMSEs for preIFRS (2004-2007), RTT (2010-2013) and Law No. 12,973/2014 (2015-2018) periods were calculated and compared using the Means Comparison test (t de student test). From this test, it was found that there were no statistically significant differences between the levels of BTC in the three periods analyzed from the perspective of both methodologies [Atwood et al (2010) and Tang (2014)]. This contradicted the first hypothesis of this study that in the RTT the level of BTC was statistically lower than in the other two periods, and did not reject the second hypothesis that there were no statistical differences between the pre-IFRS and Law No. 12,973/2014 periods. This study contributes to the national literature that researches the effects of IFRS adoption and has potentially relevant results for stakeholders as it elucidates the behavior of this important variable (BTC) with the implementation of international accounting standards.

3
  • GABRIEL JESUS DE SOUZA
  • MAIN CRITICAL SUCCESS FACTORS IN IMPLEMENTATION OF THE COSTS SYSTEM IN THE PUBLIC SECTOR FEDERAL

  • Líder : MARIA VALESCA DAMASIO DE CARVALHO SILVA
  • MIEMBROS DE LA BANCA :
  • DIANA VAZ DE LIMA
  • ANTONIO CARLOS RIBEIRO DA SILVA
  • MARIA VALESCA DAMASIO DE CARVALHO SILVA
  • Data: 06-dic-2022


  • Resumen Espectáculo
  • The need to use a cost system by public service institutions has its historical roots linked to recent fiscal crises. In addition, administrative reforms in the public service based on New Public Management and the institutionalization of New Public Governance were other phenomena that also drove the implementation of cost system in the public service. In addition, there is a discussion about the main critical success factors in the implementation of cost system in the public service based on the theory of accounting regulation and empirical literature that deals with the subject consistently. Thus, the main objective of this research is to evaluate the effects of the main critical success factors and how they have influenced in the implementation of cost system in the federal public service. In this scenario, it was adopted as a theoretical framework: empirical evidence, cost management as an instrument of public governance and the theory of accounting regulation from the perspective of its influence from the establishment of standards and procedures for accounting practice. To achieve the proposed objective, the following methodological instruments were used: bibliographical research, interviews, survey and technical analysis of statics. From the mix method approach, themes related to costs in the public sector in the national and international specialized literature were visited, in addition to interviews with panel of experts, aiming to collect data and information for this research. Still in this methodological trajectory, it was used the application of a questionnaire in a sample of 191 accounting professionals of federal government, once obtained the answers of the survey these were subjected to confirmatory factor analysis and categorized into critical factors political, technical and cultural. Then, the association between the critical factors and the successful implementation of the cost system in the public service was verified through logistic regression. The results obtained were statistically significant to point out that the political factors, the technical factors and the size of the entity affect the success of the implementation of cost system, indicating that the institutional actors, professional associations and civil society play an important role in structuring the cost system, results were not statistically significant to affirm the existence of an association between cultural factors and the success of the implementation, which suggests the reflection of the peculiar cultural characteristics of federal public service in Brazil. It is concluded that the process of institutionalization of cost system in Brazil is the result of several Brazilian laws and regulations over time and that the critical factors that most influence the success of the implementation of the cost system in Brazil are the factors political and technical, It is also found that the main advantages of this implementation are the efficiency of public spending and the generation of cost information to assist public managers in decision making.

4
  • RAFAEL PINTO DE MIRANDA ARANHA
  • THE RELATIONSHIP BETWEEN ACCOUNTING CONSERVATISM CONDITIONAL AND THE COMPLEXITY OF CONTRACTS OF EXECUTIVE REMUNERATION: EMPIRICAL EVIDENCE OF CAPITAL MARKETS IN BRAZIL

  • Líder : LUIS PAULO GUIMARAES DOS SANTOS
  • MIEMBROS DE LA BANCA :
  • LUIS PAULO GUIMARAES DOS SANTOS
  • CESAR VALENTIM DE OLIVEIRA CARVALHO JUNIOR
  • ANTONIO LOPO MARTINEZ
  • Data: 13-dic-2022


  • Resumen Espectáculo
  • There are allegations that executive compensation contracts are increasingly complex elements, presented are about the subject, about what drives this complexity, and its relationship with research that leads to contractual efficiency, such as accounting conservative. Measures were taken for the complexity of compensation contracts already used in the literature, which were necessary to pulverize or to calculate the measures used and more than one proxy for accounting conservatism to verify the relationship between the complexity of compensation packages of conservatives and conditional accounting conservatism. For that, Driscoll-Kray and quantile regressions were used in additional tests with alternative models and proxies. The main model outlines 1210 observations from 121 companies. Evidence of the relationship between complexity and conditional conservatism was found, the complexity of remuneration contracts has a positive relationship with the level of conditional conservatism. Complementarily, the results observed according to the DriscollKray estimator, used in other models with alternative proxies of accounting conservatism or compensation complexity, confirmed the results. Quantile regression show that the relationships can do gradual changes at the quantile level. Furthermore, there is evidence on a statistically significant level of conservatism, however the coefficients showed considerably lower values compared to international research that show a higher level of accounting conservatism. Additionally, the relationship between the blocks of compensation components and accounting conservatism was analyzed. The blocks were based on the portion of cash, equity and bonus that are included in contractual clauses to deal with conflicts between agent and principal. Not consistent with the efficiency literature, but possibly in line with managerial power, cash-based compensation did not require a higher level of accounting conservatism, some evidence suggests that the bonus portion is in line with the bonus maximization hypothesis and indicate that equity compensation reduces the level of conservatism. Previous studies have found that the complexity may vary according to certain characteristics of the companies and sector, however the complexity of remuneration may be associated with the difficulty of monitoring agents due to information overload, rent extraction and lower future performance of the company, since that contracts can be approached by contractual efficiency or managerial opportunism. Accounting conservatism is an instrument that could resolve agency problems and improve contractual efficiency. The unintended consequences of complexity also confirm concerns raised by investors, researchers, analysts, and the specialized media. In addition, an opportunity for future research is analyze accounting conservatism in different quantiles, as well as the different levels of relationship between accounting conservatism and the complexity of compensation contracts. Empirical findings can be useful to boards in designing executive compensation contracts that are more efficient, harmonious, balanced, and less vulnerable to agency problems, as well as to investors and other users of accountin

5
  • Avívia Cairo de Meneses
  • IS IT APPROPRIATE TO TREAT UNEQUALS UNDER THE SAME PARAMETER? A study on the limit on personnel expenses set by the fiscal responsibility law (LRF) and its main consequences on the efficiency of public management in Brazilian municipalities.
  • Líder : MARIA VALESCA DAMASIO DE CARVALHO SILVA
  • MIEMBROS DE LA BANCA :
  • MARIA VALESCA DAMASIO DE CARVALHO SILVA
  • ANTONIO GUALBERTO PEREIRA
  • CLÁUDIA FERREIRA DA CRUZ
  • ALIGER DOS SANTOS PEREIRA
  • Data: 21-dic-2022


  • Resumen Espectáculo
  • Amidst the traces of the 1990s Fiscal Crisis, which resulted in a considerable budgetary-financial imbalance and triggered several political scandals, the Fiscal Responsibility Law was enacted in 2000, with the promise of being the "Saviour of the Nation". Its intention was to bring more control, transparency, and planning to Public Management. Nevertheless, after more than 20 years, the rigidity of some requirements has been questioned due to the potential to hinder the investment of funds to meet society's needs. This work focuses on the problems caused by the Article 19 of the Law, which establishes a threshold for personnel expenses - 54% of the Net Current Revenue for each and any municipality, without taking into consideration the dissimilarities that may exist among them. With the aim of showing how the imposition of a limit with personnel expenditure in a generalized way may affect the efficiency of municipal public management, considering the existing antagonistic socioeconomic situations, the 130 municipalities with the highest Net Current Revenues (NCRs) and the 130 with the lowest NCRs in the year 2019 were selected. As a theoretical apparatus, this quantitative, bibliographical, documental, and analytical research was guided by references that bring to light the nuances of the Fiscal Responsibility Law, efficiency, and the use of indicators in Public Management and the specific local Scenarios from the perspective of Milton Santos, a geographer from national and international prominence. To analyse the results, the following data has been collected from 260 municipalities in the sample, namely: Net Current Revenue, Personnel Expenditure, Population, Mortality from avoidable causes, Age-Serial Distortion, Socioeconomic Level, and Annual Social Information Report. Afterwards, through the non-parametric statistical model of Data Envelopment Analysis (DEA), the variable "efficiency" was found. The outcomes suggest that the legal limit on personnel expenditures impacts negatively both on the management of smaller and larger municipalities, because in some of them it prevents investment in substantial areas, while in others it stimulates spending increases.

2021
Disertaciones
1
  • GUILHERME RODRIGUES OLIVEIRA COSTA
  •  

    ANALYSIS OF THE EFFECTIVENESS OF PUBLIC SPENDING ON EDUCATION AND HEALTH: A study in Bahian municipalities from 2005 to 2016.
  • Líder : MARIA VALESCA DAMASIO DE CARVALHO SILVA
  • MIEMBROS DE LA BANCA :
  • MARIA VALESCA DAMASIO DE CARVALHO SILVA
  • GISELE FERREIRA TIRYAKI
  • JOSEILTON SILVEIRA DA ROCHA
  • ANDREA CARDOSO VENTURA
  • Data: 11-ene-2021


  • Resumen Espectáculo
  • As there are conflicts of interest between the community and the interests of public managers, especially with regard to the acquisition and application of public resources, the public choice of the manager is a reality that can influence efficient and responsible management in Public Administration. Thus, the general objective of this work is to verify whether the allocation of budgetary expenditures in the education and health functions, is effective or not in the sense of promoting the quality of these services in Bahian municipalities, from the perspective of the Theory of Public Choice (TEP). Methodologically, the research is characterized as descriptive, documentary and with a quantitative approach, with a temporal cut from 2005 to 2016, being studied all 417 municipalities in Bahia. To collect secondary data, the databases of the National Treasury, IBGE, IFDM, among others, were used. The statistical treatment done in the Stata Software. The FIRJAN Municipal Development Index (IFDM) was created in 2008 and has three strands: employment and income, education and health. The three together measure the socioeconomic development of Brazilian municipalities. However, the focus of this research is on education and health. It is worth mentioning that studying the education and health functions are extremely important, as they are social priorities. Finally, the importance of this indicator lies in the fact that it has a well-updated and available database. Regarding the results, in model 1, which refers to education with data structured in cross-section, evidence was found that meets the main assumptions of the Theory of Public Choice. Otherwise, it signals rent-seeking, because when a municipality in Bahia has low governance, the IFDM in the education aspect also ends up being low.

2
  • VANESSA DE CARVALHO PEREIRA
  • Influence of ownership structure on the choice of independent big four audit: evidence from companies listed on B3

  • Líder : ANTONIO GUALBERTO PEREIRA
  • MIEMBROS DE LA BANCA :
  • ANTONIO GUALBERTO PEREIRA
  • CARLOS HENRIQUE SILVA DO CARMO
  • JORGE DE SOUZA BISPO
  • JOSE SERGIO CASE DE OLIVEIRA
  • Data: 03-feb-2021


  • Resumen Espectáculo
  • The work of Jensen and Meckling (1976), considered by many seminal authors in the line of research in Corporate Governance, deals with the Agency Theory, which establishes the conflict of interests between agent and principal. Corporate Governance appears as a way to align these interests, minimizing the existence of agency conflicts. This study focuses on investigating the association between an external mechanism and another internal mechanism of Corporate Governance: external audit and ownership structure. 122 public companies listed on B3 were analyzed between the years 2010 to 2018. The general objective was to investigate the influence of the ownership structure in the choice of an independent Big Four audit, expecting a positive relationship if there is a entrenchment effect represented by the variable voting rights and a negative relationship if there is an incentive effect represented by the variable cash flow right. In addition to the variables of interest, other variables that can influence the choice of an independent Big Four audit were also controlled: company size, leverage, return on assets, issuance of ADRs, sector, CEO duality, board independence, level B3 governance and expert auditor. The study proposes an econometric methodology little used in research with this theme, the logit for panel data. The results found suggest that only the size of the company and the specialized audit firm influence the choice of a Big Four audit in the national scenario, opposing the research hypotheses raised. The main contribution made by the work is to expand the literature in the area of Corporate Governance, specifically when investigating the relationship between external auditing and ownership structure in the national scenario, given the scarcity of empirical studies that address this association.

3
  • MARCOS ANDREZ SANTOS DA SILVA
  • RELATIVE FEES OF AUDITORS AND THE MARKET VALUE OF PUBLICLY HOLDING COMPANIES AUDITED BY BIG FOUR IN BRAZIL
  • Líder : ANTONIO GUALBERTO PEREIRA
  • MIEMBROS DE LA BANCA :
  • ANTONIO GUALBERTO PEREIRA
  • CESAR VALENTIM DE OLIVEIRA CARVALHO JUNIOR
  • JOSE SERGIO CASE DE OLIVEIRA
  • ANTONIO LOPO MARTINEZ
  • Data: 05-jul-2021


  • Resumen Espectáculo
  • Audit is an important tool for maintaining good levels of governance. However, there is a lack of consensus in the literature on the market's perception of audit fees. It is argued that, on one hand, audit fees reflect the level of work and high levels of these can mean greater efforts and audit quality. On other hand, there is also a concern with the formation of economic bonds associated with high levels of fees. As for fees from Non-Audit Services (NAS), research attributes damage to independence by providing services unrelated to auditing and, however, the possibility of spillovers and greater specialization is also advocated in the literature. In this context, the present study aims to investigate, through variables related to the auditors' remuneration, the influence of the relative audit fees, other services and totals (RELAF, RELNAS and TRELFEE, respectively) on the market value (MV) of publicly traded companies audited by big four in Brazil. For this purpose, an unbalanced panel was used for the period from 2009 to 2019, composed of 2212 observations from 281 publicly traded B3 companies audited by big four. In order to mitigate sources of endogeneity, dynamic panel estimations were adopted using the Generalized Method of Moments in Differences (GMM-Dif), The results obtained indicate the existence of a significant relationship, initially positive and that becomes negative, between MV and the audit fees, however, not significant for the fees of other services and totals. In this sense, the evidence points to a concave relationship between RELAF and the companies' market value, in which, for high levels of relative audit fees, the dependent variable decreases. In addition, robustness analyzes with Tobin's Q and the Enterprise Value variable, proxies of the market value, indicated results similar to those evidenced by the main estimates. In the light of theory, these results indicate that there is a negative perception when the client starts to play an important financial role for the auditor regarding the relative audit fees. It is argued that such a negative perception may be related to the existence of economic bonds or to the belief that the auditor's perceived independence is impaired, although it is not possible to investigate these aspects directly and unequivocally.

4
  • ELISABETH FREITAS DE ARAUJO
  • Relation between the performance of Accounting Science students in ENADE and teaching modality: a multilevel analysis.
  • Líder : ANTONIO GUALBERTO PEREIRA
  • MIEMBROS DE LA BANCA :
  • EDVALDA ARAÚJO LEAL
  • LUIZ PAULO LOPES FÁVERO
  • ANTONIO CARLOS RIBEIRO DA SILVA
  • ANTONIO GUALBERTO PEREIRA
  • Data: 06-jul-2021


  • Resumen Espectáculo
  • Among the main changes that higher education has undergone in the past two decades is the expansion of access, classified as democratization (BARROS, 2015). According to the Human Capital Theory (HCT) (SCHULTZ, 1973a, 1973b), greater access to qualification, in the form of more years of study, contributes substantially to the economic development of a country, as growth and productivity in strategic areas are directly related to the nation's education. In Brazil, this expansion took place through government programs, with emphasis on REUNI, instituted in 2007, through Decree No. 6,096 / 07, which expanded the structure of public educational institutions, with the creation of federal universities in localities further away from large centers. In addition, access to education was made possible through policies of tax incentives and the offer of Distance Education. This modality, according to Sousa and Maciel (2016), was the main responsible for the growth of higher education in the last twenty years, with 2005 being the most representative year. In addition to this expansion is the concern to guarantee the quality levels of higher education, within the criteria established by MEC. For this, the teaching evaluation system counts, among other instruments, with ENADE, a mandatory evaluation to which students of the courses are submitted, every three years; and the Accounting course was evaluated in the years 2006, 2009, 2012, 2015 and 2018. Despite not being a recent modality, Distance Education is still viewed with suspicion by the academic community (FRANCO, 2014). Therefore, based on this scenario, this study aimed to identify the effect of the teaching modality on the performance of Accounting students, in the 2012, 2015 and 2018 editions of ENADE. In addition to HCT, as an underlying theory, the fundamentals the Theory of the Educational Production Functions supported the methodology and discussions. The ENADE microdata was the main source of information for the study and the Hierarchical Linear Method was used for hypothesis testing. The results indicated that it is not possible to make inferences about the effect of the modality in isolation, but that it presents significance when interacted with the characteristics: age, course shift, ethnicity and average income of the institution. Furthermore, the findings revealed that there is a difference in the relationship between modality and performance, between institutions. Thus, this research covers gaps found in the investigations on teaching modality and academic performance in Accounting Sciences, when studying this relationship from the perspective of Educational Production Functions, through multilevel modeling, which makes it possible to analyze the individual and contextual levels. Thus, the study contributes to a detailed understanding of the various factors that comprise the distance learning system, such as the influence of the institution's infrastructure and the impacts that socioeconomic characteristics have on academic performance. With the impact caused by the world pandemic of Covid-19, the findings presented here can contribute to the development and management of educational public policies, in addition to having the potential to subsidize the actions of pedagogical planning and management of higher education.

5
  • Fabiana de Araujo Morais
  • TRANSPARENCY AND EVIDENCE OF THE WAIVER OF REVENUE IN THE FRAMEWORK OF ENVIRONMENTAL TAX INCENTIVES: AN ANALYSIS OF THE ADOPTION OF THE IPTU VERDE BY MUNICIPALITIES IN BAIANOS
  • Líder : SONIA MARIA DA SILVA GOMES
  • MIEMBROS DE LA BANCA :
  • ANDRÉ LUIS ROCHA DE SOUZA
  • ANTONIO GUALBERTO PEREIRA
  • SONIA MARIA DA SILVA GOMES
  • Data: 05-ago-2021


  • Resumen Espectáculo
  • The present study aimed to verify, from the point of view of public transparency, the way in which the municipalities of the state of Bahia that adopt the IPTU verde have disclosed the respective tax expenditure, in the period from 2016 to 2018. For this purpose, exploratory and descriptive research with a qualitative approach was used. Initially, bibliographic and documentary research was undertaken on the theme highlighted. Then, there was an analysis of the information’s content collected in the Portals of Transparency of the municipalities of Camaçari, Feira de Santana and Salvador, through the investigative model in the format of questions’ checklist. Also, as additional subsidies to the results’ discussion, data were collected in other official websites of the Prefectures, as well as Municipal Councils and Tribunal de Contas dos Municípios da Bahia - TCM/BA. In addition to the individual diagnosis of each entity, the municipalities were analyzed together in order to compare their realities in relation to the dimensions of transparency in the granting of tax incentives suggested by Zee, Stotsky and Ley (2002). The results point, first, to the existence of problems in the effectiveness and efficacy of the municipalities’ studied Portals of Transparency, regarding the access to information on public finances. Secondly, these findings therefore indicate that there is a total lack of transparency (opacity) in the taxes expenditures from the IPTU verde concession. The main contribution of the study is to encourage debate on the important role of municipalities in ensuring the right of citizens to access this type of information in order to promote a culture of transparency and sustainable urban development.

6
  • VINICIUS JESUS SOUZA
  • REVERSAL OF IMPAIRMENT AND RESULTS MANAGEMENT: A STUDY WITH BRAZILIAN COMPANIES LISTED IN B3
  • Líder : SHEIZI CALHEIRA DE FREITAS
  • MIEMBROS DE LA BANCA :
  • CÉSAR AUGUSTO TIBÚRCIO SILVA
  • JORGE DE SOUZA BISPO
  • SHEIZI CALHEIRA DE FREITAS
  • Data: 31-ago-2021


  • Resumen Espectáculo
  • The impairment test, although it is relevant to the quality of information accounting, requires the performance of intrinsically subjective estimates that allow a discretionary margin to the management of companies and consequently enables the earnings management practice. Some studies carried out in the international, such as those by Duh, Lee and Lin (2009), Chen, Wang and Zhao (2009) and Zhang, Lu and Ye (2010) point out that the risk of earnings management increases when there is permission for impairment losses to be reversed in the future. In that context, this research aimed to investigate whether there is a relationship between the reversals of impairment losses evidenced by Brazilian companies listed in B3 and the practice of earnings management in the period between 2010 and 2019. For this, a descriptive and quantitative research was carried out tested three hypotheses that were originally developed in the work of Duh, Lee, and Lin (2009), with the purpose of identifying whether the companies that most recognize losses due to impairment, these losses are reversed in the future to avoid a decrease income accounting and whether this behavior is more pronounced in companies with higher levels indebtedness or that remunerate their managers based on profit. The analysis of regression was performed using the zero-inflated beta model, which suited better to the nature of the data analyzed. The results obtained show that, although the companies that recognize more impairment losses revert a greater proportion of these losses in the future, these reversals did not occur in a context of declining accounting result and were not significantly influenced by the degree of indebtedness and the sensitivity of managers' remuneration to profit. Of that In this way, the research hypotheses could not be confirmed. In addition, factors how revenue variation and market to book were statistically related significant with reversals, however, with the opposite sign than expected. Considering that there was no knowledge of other researches that have investigated this theme in Brazil, it is expected that this work will contribute to stimulate the realization of other similar studies in the country, as well as to foster discussions on how the possibility of reversing impairment losses affects the quality of information accounting.

2020
Disertaciones
1
  • LEONNE FRANCISCO RIBEIRO PIRES
  • The Impact of SISU on the Profile and Academic Performance of Accounting Students: a study in a public HEI.

  • Líder : SHEIZI CALHEIRA DE FREITAS
  • MIEMBROS DE LA BANCA :
  • ADRIANO LEAL BRUNI
  • GILBERTO JOSÉ MIRANDA
  • SHEIZI CALHEIRA DE FREITAS
  • Data: 17-feb-2020


  • Resumen Espectáculo
  • Research on academic performance is growing and attracts researchers from various fields of knowledge. As a result of the teaching and learning process, academic performance must be maximized with increase in efficiency of the educational process. Higher education since the 1990s has undergone changes which are promoted by public policies, among which the Unified Selection System can be specifically referred. SISU is the system where the students are selected for vacancies in undergraduate courses offer by public and free higher education institutions that participate in it. Therefore, it is a computerized system through which students who participates in the National High School Exam, ENEM, can compete to enter public higher education. Thus, in view of the changes in higher education brought by SISU, which may have an impact on academic performance as a product of the teaching and learning process. The real problem to be answered is: do students in the accounting sciences course at UFBA present significant variation? especially on academic performance after SISU? In this study, it was verified the existence of differences in the profile and academic performance of the Accounting students of a public HEI in the pre and post-SISU periods. The analyzes were based on the performance measures presented by Miranda et al. (2015), with academic performance being the grade of an evaluation, MGA with adjustments and MGA without adjustments. The study included pre and post-SISU students who completed all subjects (MGA without adjustments), students who attended the four initial subjects of the course that are consecutive prerequisites (MGA with adjustments) and those with their respective grades in two subjects (introductory accounting I and advanced accounting). The results revealed some significant variables for the samples, allowing an analysis of academic performance throughout the course (beginning, middle and end) due to the selected subjects. In the sample involving the Introductory Accounting I discipline, the variable SISU was significant with a negative coefficient, that is., the students who entered after IES adherence to SISU had a grade in the lower discipline. In this sense, the t-test of means also presented statistical difference, with a higher average of students who entered through the entrance exam. Analysis involving the Advanced Accounting discipline showed little convergent results, the t-test of means revealed statistical difference, with lower average of students who entered through SISU. However, the regression returned a positive coefficient, suggesting that grades in the discipline for post-SISU freshmen tend to be higher. The MGAs revealed little about changes in performance, comparing the pre and post-SISU periods. With this, it is possible to understand that the students who entered through SISU at the beginning of the course had lower academic performance, probably due to less dedication and commitment. Failure and lockout data corroborate this students' lack of commitment to the course.

2
  • FIORELLA LOPEZ LIZA
  • Conditional Conservatism in the Aggregate Profits: Analysis of the Brazilian Market

  • Líder : JOSE SERGIO CASE DE OLIVEIRA
  • MIEMBROS DE LA BANCA :
  • JOSE SERGIO CASE DE OLIVEIRA
  • JOSEILTON SILVEIRA DA ROCHA
  • LUIS PAULO GUIMARAES DOS SANTOS
  • WENNER GLAUCIO LOPES LUCENA
  • Data: 30-abr-2020


  • Resumen Espectáculo
  • This study aims to investigate whether there is conditional conservatism in aggregate earnings of the Brazilian capital market. This issue becomes relevant, since a growing line of international academic research analyzes aggregated accounting variables. In this direction, the present research tries to bring evidences to Brazil of the properties of aggregate earnings, specifically of the conditional conservatism widely tested at the firm level. Was carried out an empirical research of time series, for which, it proceeded to collect information from the public companies listed on B3 during the period from the first quarter of 1998 to the fourth quarter of 2017 in the Economática® database. From the results obtained with the quarterly financial statements, we were unable to evidence the existence of conditional conservatism measured by the asymmetric recognition between good and bad news in the Basu's model (1997). However, these results provide the first evidence in Brazil of the behavior of accounting earnings at the aggregate level. In addition, for the sample analyzed, it is possible to suggest that, at the aggregate level, macroeconomic variables improve the specification of Basu's conditional conservatism model (1997). Considering that the results of the present study are preliminary, they must be analyzed in the Brazilian context. However, the study brings important contributions to Brazilian research, by bringing evidence to Brazil of conditional conservatism as a property of aggregate profits, since the aggregate profit-return relationship is a topic that is little explored in Brazil. Thus, it seeks to motivate researchers to expand the field of study, from the micro (firm level) to the macro (aggregate level).

3
  • JORGE LUIZ DE SANTANA JÚNIOR
  • CONDITIONAL CONSERVATISM AND CAPITAL STRUCTURE: EVIDENCE OF COMPANIES AT BRAZILIAN STOCK EXCHANGE

  • Líder : LUIS PAULO GUIMARAES DOS SANTOS
  • MIEMBROS DE LA BANCA :
  • LUIS PAULO GUIMARAES DOS SANTOS
  • CESAR VALENTIM DE OLIVEIRA CARVALHO JUNIOR
  • ANTONIO LOPO MARTINEZ
  • Data: 28-sep-2020


  • Resumen Espectáculo
  • Accounting conservatism has been sparked discussions over the years about the structure of accounting information. Understanding the role of conservatism in financial statements involves understanding how much this form of measurement and disclosure can affect the different users of this information. Therefore, the study’s objective was to highlight the effect of conservatism on corporate financing policies through theories of capital structure. For this, we use only conditional conservatism, given that this type of conservatism is more associated with contracts with investors and creditors. As conditional conservatism facilitates access to capital, it is expected that it can increase the speed with which companies adjust their capital structure in relation to the optimal leverage. To achieve this objective, we use a sample of Brazilian firms with shares traded at the B3 for the period from 2009 to 2018. To test the research hypothesis, the parameters of the capital structure adjustment speed model were estimated through multiple linear regression. The results show that conditional conservatism reduces the capital structure adjustment speed of publicly traded Brazilian companies. This result, however, was only present in under-leveraged firms, which can be attributed to the preference of conservative firms for one of the forms of financing. Thus, this work contributes to the literature on capital structure and conservatism. In addition, it offers support for the discussion about the role of conditional conservatism in the financing policy of companies operating in the Brazilian economic environment.

4
  • JOSÉ EDUARDO GUIMARÃES SIQUEIRA MATTOS
  • Higher Education in Accounting in Brazil: a comparative analysis between distance education and face-to-face teaching based on data from the Enade 2018

  • Líder : MARIA VALESCA DAMASIO DE CARVALHO SILVA
  • MIEMBROS DE LA BANCA :
  • CARLOS MAURICIO CARDEAL MENDES
  • JOSEILTON SILVEIRA DA ROCHA
  • MARCELO SANTANA SILVA
  • MARIA VALESCA DAMASIO DE CARVALHO SILVA
  • Data: 05-oct-2020


  • Resumen Espectáculo
  • Distance education in Brazil has been increasing in the last two decades, mainly with the inclusion of this modality in the National Education Plan. This study aims to verify, based on the results of the 2018 edition of the National Student Performance Exam (Enade), whether the Accounting Science Distance education course has a better performance than presential. We also sought to relate the results found to the dimension of autonomy proposed in the Theory of Transactional Distance, associated with adults, in addition to confronting the results obtained between the two modalities of education. For this purpose, statistical software was used in order to tabulate and analyze the data collected from Enade, and aiming at a more robust analysis, the standardized difference was calculated, using Cohen's d, as well as statistical modeling to verify the power of explanation of the phenomenon related to the research variables. The effect size associated with the Gross Test Score of the two modalities was d = 0.27, which meant a small effect, therefore there was no statistically significant difference in the average scores between two modalities. However, mathematically, presential education obtained an average slightly higher than distance education. Furthermore, the research shows that the older age group (older, more adult), in distance education, obtained, on average, better results than those younger.

5
  • GABRIELA FERREIRA SANTOS
  • Overconfidence of the CEO and the Performance of the Company: a Study with Brazilian Listed Companies

  • Líder : CESAR VALENTIM DE OLIVEIRA CARVALHO JUNIOR
  • MIEMBROS DE LA BANCA :
  • CESAR VALENTIM DE OLIVEIRA CARVALHO JUNIOR
  • ANTONIO GUALBERTO PEREIRA
  • ROBERTO CARLOS KLANN
  • Data: 14-oct-2020


  • Resumen Espectáculo
  • Modern Finance Theory has long been used to explain economic and financial phenomena. However, it began to lose strength from the 1970s, mainly with the dissemination of studies on the Prospective Theory, proposed by Daniel Kahneman and Amos Tversky, opening space for Behavioral Finance. Behavioral Finance raises questions about man's rationality, assuming that cognitive biases interfere in the various decisions of individuals. One of these biases is managerial overconfidence, which causes people to overestimate their knowledge and skills. Previous studies show that agents who occupy positions at a high level of hierarchy in the company tend to present this bias, due to the inherent characteristics of the position. Considering that CEOs who are overconfident can make biased decisions, which will impact the company's performance, the research question arises: What is the relationship between the CEO's overconfidence and the performance of companies listed on B3? Thus, the dissertation aims to identify and analyze the relationship between CEO's overconfidence and the performance of non-financial companies listed in B3, between the years 2012 and 2018. The research is justified by the contribution to the study of the manager's overconfidence on the performance of companies, which still deserves attention, since existing research shows divergent results, in addition to presenting evidence on EVA® as a measure of residual profit, a variable not yet used in the national scenario and which reflects performance more efficiently. The proposed models used the MO proxy for the managers' overconfidence proposed by Kermani, Kargar and Zarei (2014), relating it to the market performance measure, represented by Tobin's Q, the measures for economic performance , ROA and ROE, and for residual profit, EVA®. The control variables used were financial leverage, company size and corporate governance. To analyze the relationships between the variables, panel data with a fixed effect was used using the Gretl software. Robustness tests were also carried out that used lagged variables and a second proxy for overconfidence, this one created by Schrand and Zechman (2012) and adapted to the Brazilian scenario by Lima (2016). The results show a significant and positive relationship between overconfidence and Tobin's Q, ROA and ROE, however for EVA® this relationship is negative, but not significant. The robustness tests indicate that the lagged MO variable positively and significantly influences the performance metrics, except for EVA®, where the influence is negative, but there is no significant relationship. The test with the second proxy found that it does not significantly affect Tobin's Q variables, ROA, ROE and EVA®. However, for ROA and ROE, negative relationships were found between the variables, differently from what happened with the main metric of the research.

6
  • UILIAM BITTENCOURT BOMFIM
  • The Value Relevance of Income Statement Items: An Analysis of the Impact of IFRS Adoption on Companies Listed in B3

  • Líder : FRANCISCO GAUDENCIO MENDONCA FREIRES
  • MIEMBROS DE LA BANCA :
  • FRANCISCO GAUDENCIO MENDONCA FREIRES
  • ANTONIO GUALBERTO PEREIRA
  • SHEIZI CALHEIRA DE FREITAS
  • SIRLEI LEMES
  • Data: 19-oct-2020


  • Resumen Espectáculo
  • The purpose of this study is to examine and compare the value relevance of a set of accounting indicators from the income statement. Subsidiarily, the objective is to assess whether the value relevances are significantly different in two different periods: before IFRS and after IFRS adoption. Based on Barton, Hansen and Pownall (2010), the value relevance of seven accounting indicators was investigated, these are: Net sales, EBITDA, EBIT, income before taxes (IBT), income before extraordinary items and discontinued operations (IBEXIDO), net income (NI) and operating cash flows (OCF). The Economatica database was used, considering the time interval between 2005 and 2019. The population analyzed comprises publicly traded companies listed in B3, excluding financial institutions. For estimation, the method of ordinary least squares (OLS) was used for stacked data. The results for the pre-IFRS period demonstrate that no variable was shown to be relevant in the period. Results for the post-IFRS period show that relevance of variables tends to increase moving down the income statement. Sales presented the lowest relevance value, after the adoption of IFRS, compared to other indicators. There is no significant difference between the variables IBT, IBEXIDO and NI, albeit with the variable IBEXIDO having a slight advantage. From these results, information can be provided to users of accounting information, such as investors, business administrators and standards makers, regarding the value relevance of accounting indicators from the income statement, allowing them to make better decisions.

7
  • THIAGO RIOS SENA
  • EARNINGS MANAGEMENT AND LEGIBILITY: A study of public companies in Brazil

  • Líder : SHEIZI CALHEIRA DE FREITAS
  • MIEMBROS DE LA BANCA :
  • SHEIZI CALHEIRA DE FREITAS
  • JOSE MARIA DIAS FILHO
  • ILIRIO JOSÉ RECH
  • Data: 26-oct-2020


  • Resumen Espectáculo
  • The disclosure of accounting information contributes to decrease the level of information asymmetry and increase user confidence due to transparency. However, managers may have incentives to obfuscate information regarding the company's performance. Informational obfuscation by using more complex language or by emphasizing certain themes over others in the textual presentation can be considered one of the possible forms of earnings management, more specifically known as impression management. This study aims to verify the relationship between the level of readability of the notes and earnings management practices through accruals or operational decisions by companies listed in [B]³ between the years 2010 to 2018. An econometric model was used, presenting readability as a dependent variable and earning management as the main independent variable, in addition to the control variables, being analyzed through panel data regression with fixed effects by year and sector. This work is characterized as a descriptive research, through documentary analysis and using the quantitative approach of the data to test the hypotheses about the relationship between the earning management and the readability of the notes. The Jones Modified (1995) and Roychowdhury (2006) models were used to measure earnings management, and the Flesch index adapted to Portuguese (Martins et al., 1996) to measure the readability level of the notes. The results reveal that there is no statistically significant relationship between the readability of the notes and the level of earnings management, refuting the research hypothesis. Among the characteristics of the companies, it was observed that the variables that represent the group of auditing company, publicly traded time, market-to-book and company size are statistically significant in the proposed model. It is expected that this research will contribute to additions to the literature both on readability and on earning management, when studying this relationship in an emerging and Portuguese-speaking market. In addition, it is also intended to assist users of accounting information (investors, regulators, developers, etc.) in understanding issues about the ease of reading the notes to support the decision-making process.

2019
Disertaciones
1
  • RAIMUNDO PEREIRA DA SILVA JUNIOR
  • HEALTH EXPENDITURES BY LOCAL GOVERNMENTS AND ELECTORAL ACCOUNTABILITY: A STUDY IN THE LIGHT OF THE AGENCY THEORY

  • Líder : MARIA VALESCA DAMASIO DE CARVALHO SILVA
  • MIEMBROS DE LA BANCA :
  • ANA RITA SILVA SACRAMENTO
  • JOSE SERGIO CASE DE OLIVEIRA
  • MARIA VALESCA DAMASIO DE CARVALHO SILVA
  • Data: 11-feb-2019


  • Resumen Espectáculo
  • The discussion about the role of the state is a recurring agenda, both in the academic arena and in the political and governmental circles, which are concerned with winning votes and providing public services. In this study, the focus was on municipal health expenditures, it was sought to study whether the Brazilian citizen approves or rejects, by means of vote, an increase or reduction of public health expenditure. To put it more summarily, it was intended to determine the preference of Brazilian voters about expansion or austerity for municipal health spending. In order to do so, we adopted the agency theory and a retrospective voting model related to electoral accountability. A total of 9,969 attempts were made to re-elect mayors from 2004 to 2016. With a view to controlling the prospective component of the vote, a design of reelections was adopted without distinction of titular candidates. The final sample was composed of 232 reelections with data on health function expenditures and the basic health care subfunction. This work was based on the STN/SOF Ordinance No. 163 of 2001, which expanded the detailing of health accounts. With these accounts and with Bernoulli-based quasi-maximum likelihood (QML) fractional regression support, the average partial effects of the evolution of health expenditures on the electoral results of the Brazilian mayors were estimated. The analysis of health expenditures pointed out that an expansion of R$100.00 in annual average per capita expenses during the four-year term represents a positive average partial effect of 1.13% in the margin of mayors votes that vow for a re-election in which there is no differentiation of candidates. The results achieved in this paper, in line with electoral accountability agency models, provide evidence that the electoral mechanism is capable of producing electoral rewards that can provide incentives for incumbents to allocate resources to public services valued by voters. Through these results it was intended to contribute to the literature of the vote. Public policy experts, public managers and candidates can learn how the application of resources in municipalities determine the electoral results of those seeking re-election. Additionally, this knowledge can be used in the honest search for the people's preference, enabling the implementation of actions aimed at improving the choices of public policies and communication between the government and the citizen as well as assisting in the formulation of institutional reforms. Finally, if government action can be robustly determined based on public accounting information, other research designs that explore normativelegal changes may address key accounting issues such as the relevance of accounting information in the public sphere.

2
  • ANA CAROLINA MENDONÇA DE SOUSA PENELUC
  • Avaliando o value relevance das informações contábeis, após adoção das IFRS no Brasil.

  • Líder : JOSE MARIA DIAS FILHO
  • MIEMBROS DE LA BANCA :
  • JOSE MARIA DIAS FILHO
  • SHEIZI CALHEIRA DE FREITAS
  • MIGUEL ANGEL RIVERA CASTRO
  • Data: 13-feb-2019


  • Resumen Espectáculo
  • The process of convergence of Brazilian accounting standards with the International Accounting Standards Board’s (IASB) standards began in 2008. However, only in 2010 the adoption of these standards became mandatory. Thus, an already widely discussed line of research in other countries came to interest Brazilian researchers: the analysis of the value relevance of accounting information after adoption of international standards. From there, several studies were conducted on this theme. As consequence, divergent results has been achieved in which some gaps remains unclear. Thus, this paper aims to compare the relevance of accounting information before and after the beginning of the process of adoption of international standards in Brazil in an attempt to fill some gaps in the literature and to resolve divergences in previous research findings. For this purpose, two price and return models derived from the Ohlson (1995) model will be used. These models relate the accounting variables (profit and net worth) with the market variables (price and return). Also, the used models add, as a control, the level of corporate governance. A total of 1,713 observations of 73 publicly traded companies listed on the Brazilian stock exchange B3 SA over a broad and current period from 2002 to 2018 were analyzed. The results suggest that there was an increase in the predictive power of the accounting variables profit and equity over price behavior and stock returns. Only the profit stood out because it had a larger variation. However, the coefficients of the control variable (corporate governance level) were not significant, thus precluding a theoretical analysis of the influence of this variable on the behavior of the Brazilian capital market.

3
  • WILTON SOBRINHO DA SILVA
  • THE RELATIONSHIP BETWEEN PROBABLE AND EFFECTIVE CONVICTION IN TAX LITIGATION AND THE LEVEL OF TAX PLANNING OF THE FIRM: A STUDY BASED ON ACCOUNTING METRICS, LEGAL OPINIONS AND LISTS OF TAXPAYERS' DEBTORS


  • Líder : JOSE MARIA DIAS FILHO
  • MIEMBROS DE LA BANCA :
  • JOSE MARIA DIAS FILHO
  • LINDOMAR PINTO DA SILVA
  • LUIS PAULO GUIMARAES DOS SANTOS
  • Data: 15-feb-2019


  • Resumen Espectáculo
  • Tax Planning can be defined as a set of managerial actions and accounting decisions that aims at reducing tax payments. This is a licit way of seeking to reduce the tax burden of an entity, and it is not to be confused with tax evasion. The latter requires concurrence of fraudulent means to the  configuration this  omission of taxes .  Conversely, tax collecting  public entities  have an important role in the control of tributary decisions, because they can impose administrative penalties and communicate misconducts to criminal prosecution offices  to investigate  the practice of criminal offenses from improper tax planning and fraudulent violation of the benchmarks established  in the  legislation. In this scenario, the problem of this research consists on  investigatingifthe fear of being condemned at the administrative or judicial level in tax lawsuits influences the decision making of aggressive tax planning in companies.  The study has relevance  since it allows to take an interdisciplinary view of the phenomenon of tax planning, which was studied both from the prism of value creation - mainly by reducing the tax burden, and from the perspective of the necessary legal security expected within tax relations. The objective of the study was to investigate the interrelationship between the company's fear of accountability for acts that matter in reducing taxes and the practice of aggressive tax planning. Grounded on the legacy previous legacy knowledge by the Agency Theory, Theory of Penalty, and the Tax Planning framework, an attempt was made to establish an exploratory research between fiscal risk and tax planning.  Based on a  sample of 200 companies listed in B3 - S / A, Brazilian Stockmarket and  Market Counter it was sought to use accounting metrics such as tax provisions, which are derived from the reports of lawyers in the company (risk of probable conviction), compared to the metrics imposed by the Treasury, which are the risks of effective tax conviction, extracted from the convictions effectively applied by the Federal Treasury. Using the multiple linear regression technique, with Johnson's data transformation, the results could not substantiate the existence of an association between aggressive tax planning and probable or effective fiscal conviction of the firm, leading to the assumption that there are other elements that influence this decision, which should be tested in future researches on the subject. Still in the analysis of the results, it was found that there is an interrelationship between the decisions of aggressive tax planning and the level of corporate governance of the firm and the sector of activity of the companies, which corroborates other studies carried out on the subject. Finally, it was emphasized that tax planning decisions, although not exclusively, may be influenced by the personal circumstances of the decision-maker, revealing many situations of limited rationality, that is, decisions that fulfill their role of choice, without having  as a scope the attainment of an optimal level of solution for the problem to be solved.

4
  • PAULA ARAÚJO SOARES
  • Tax consultancy of audit firms as a factor influence on the level of tax avoidance of Brazilian public companies.

  • Líder : SHEIZI CALHEIRA DE FREITAS
  • MIEMBROS DE LA BANCA :
  • SHEIZI CALHEIRA DE FREITAS
  • JOSE MARIA DIAS FILHO
  • PATRÍCIA DE SOUZA COSTA
  • Data: 15-feb-2019


  • Resumen Espectáculo
  • The adoption of tax avoidance practices impacts, as a rule, on elements of the tax result. Considering the relation of these elements of the result with the complex Brazilian tax legislation, the adoption of measures that may generate effects on them demands, preliminarily, the domain of specialized tax knowledge. In this context, the provision of tax consultancy services is inserted, so that the provision of these services presupposes a specific knowledge in the tax field. The obligation for Brazilian publicly-held companies to undergo an external audit of their financial statements, in order to verify compliance with corporate, tax and tax rules, has led to the development of specialized knowledge in these companies in a way that they provide tax consultancy in conjunction with audit services that do not influence the independence of audit firms. Thus, publicly-held companies, upon being audited, may decide to contract tax consulting services from the auditing firms themselves, which audits them, in order to reduce their tax expenses. Therefore, such a decision may have an impact on the level of tax avoidance practiced by these companies. Therefore, the objective of this work is to verify if the audit firms, when providing consulting services to their clients, influence the level of tax avoidance practiced by these companies. The methodology used involves regressions for panel data. The sample is composed of Brazilian public companies with information disclosed in the Economática® database from 2010 to 2017. The results suggest that the specialized tax knowledge of the external audit firm plays a significant role in the tax avoidance practice of its clients.

5
  • VICENTE COSTA

  • ANALYSIS OF THE IMPACT OF COSTING SYSTEMS IN THE DECISION-MAKING PROCESS

  • Líder : JOSEILTON SILVEIRA DA ROCHA
  • MIEMBROS DE LA BANCA :
  • JOSE SERGIO CASE DE OLIVEIRA
  • JOSEILTON SILVEIRA DA ROCHA
  • WENNER GLAUCIO LOPES LUCENA
  • Data: 31-may-2019


  • Resumen Espectáculo
  • The present study targets to analyze how the typological choice of the costing system by an organization can impact the top management support to lean implementation processes. It is an exploratory applied study case that, through experimental research, proposes an adapted replication of an validated experimental simulation model, configured by real data collected from a medium-sized Brazilian company, in which the case study itself. In order to provide more empirical support for regarding Lean Accounting, we compared the production costs evidenced by three different costing systems, including Value Stream Costing. Therefore, initially, the theoretical framework approach was the empirical studies that gave base to all the questioning that guides the study, raising the divergence between the evolution of productive strategies in manufacturing industries and the development of accounting management. Then, It is also presented the following themes that provides the basis for this study: Lean Production; Congruence Model; Accounting Systems and Top Management; Accounting Systems; Traditional Costing Systems; Traditional Costing Systems x Lean; Activity-Based Costing System (ABC System); Activity-Based Costing System x Lean; Lean Accounting; Value Stream Costing; Value Stream Costing x Lean. In the development of the analysis, we present the corporate environment of the industry that is the object of this case study, the results obtained from the applied methodology regarding the implementations adopted in the time horizon of the case study, as well as the Experimental Simulation Model configuring scenarios and determining the experimental and background variables, their implications for the actual data collected, drawing relationships between the conditions of the corporate environment generating the data and their results in relation to the typological choice of the costing systems suggested in the present research. After analyzing the results obtained with the application of proposed methodology, the final considerations of the study are drawn, confirming the relevance of providing top management of a lean converting company with accounting systems that promote a better informational support over the implementation of lean implementations and allow its benefits to be recognized and support for its continuity.

6
  • MARIO CEZAR LOPES FERREIRA FILHO
  • A study about the influence of Flow in the teaching-learning process of Accounting with the use of board games

  • Líder : ADRIANO LEAL BRUNI
  • MIEMBROS DE LA BANCA :
  • ADRIANO LEAL BRUNI
  • GUSTAVO DA SILVA MOTTA
  • ROBERTO BRAZILEIRO PAIXAO
  • SERGIO RICARDO GOES OLIVEIRA
  • Data: 28-nov-2019


  • Resumen Espectáculo
  • This research aimed to present a company game that through the eventual association between the application of the game and the Flow experience can contribute to the accounting learning. The study was based on Design Science (DS) research and used the Design Science Research (DSR) method. Faced with a scenario in which educational institutions need alternatives of active methodologies with low investment, it was decided to create a board game. The game was validated through an experiential evaluation with the participation of 37 students from Accounting Management I course of Administration at the Federal University of Bahia - UFBA. Considering the evidence that company games are associated with the flow state and this contributes to the teaching-learning process, after the game application, a data collection instrument was applied containing three open questions and new statements that should be answered by the likert scale of 5 positions, 1 being strongly disagree and 5 totally agree. The objective was to know the participants' perception about their experience with the game, collect opportunities for improvement and identify how the game contributes to the learning process. The sample comprised 37 students of Accounting Management I course of Administration at the Federal University of Bahia. The results found in the open questions were consolidated using the Collective Subject Discourse (CSD) methodology. The speeches demonstrated the game is very fun, exciting, exciting, allows the practical application of knowledge learned in the classroom favoring theory and practice. In addition, it allows the visualization of the subjects taught and stimulates interaction between students. As for opportunities for improvement, the DSC suggests increasing the stimulus for team interaction and competition, as well as reducing risk cards to avoid significant influence of the luck factor. The statements were intended to measure the level of flow experienced by the participants. The results showed a strong presence of flow conditions and characteristics. Students agreed on balance between challenge and skill perception (89%), Clear rules (92%), Immediate feedback (87%), Game usability (94%), Perception of sense of control (95%) ), Deep Concentration (84%), Attention Centralization (75%) and Distorted Time Perception (82%). It was concluded that the artifact can contribute to the improvement of the accounting teaching process as it provides a flow experience and thus stimulates the student to actively and motivated position. The study provides educational institutions with a set of low cost companies, without the need for specific technological infrastructure, thus promoting the inclusion of this active methodology in more colleges.

7
  • MARCELO CARDOSO ROCHA
  • Labor Strength and Earnings Management: Evidence in the Brazilian Capital Market

  • Líder : ANTONIO GUALBERTO PEREIRA
  • MIEMBROS DE LA BANCA :
  • ANTONIO GUALBERTO PEREIRA
  • LUIS PAULO GUIMARAES DOS SANTOS
  • JOSE SERGIO CASE DE OLIVEIRA
  • SILVIO HIROSHI NAKAO
  • Data: 20-dic-2019


  • Resumen Espectáculo
  • This paper examines the relationship between labor strength and earnings management in the Brazilian market, based on the assumptions of the Contract Theory and Positive Accounting Theory. The concept of labor strength, in this research, derives from the interaction between the unionization rate and the intensity of the number of employees, in order to reach two dimensions widely used in studies that investigate this subject. International literature suggests that the relationship between labor strength and earnings management can occur in two ways. According the first perspective, the labor strength creates incentives to reduce accounting earnings in order to avoid salary demands. The other form predicts that managers tend to make choices to project a good reputation for meeting their future commitments to reduce labor costs. Although the relationship between labor strength and earnings management has been the subject of important international research since the 1980s, especially in the United States, there are no studies on this subject in Brazil. The institutional structure about unions is completely different between Brazil and the United States, which adds relevance to the study. In response to the research question, we used a sample of 119 firms listed on the B3 in the period from 2012 to 2018. The estimation took place with the technique of dynamic panel data with generalized method of moments (GMM-SYS). Earnings management was measured by model developed by Dechow et al. (2012) and model developed by Roychowdhury (2006). We measure the labor strength in two ways. Our first measure is from Hilary (2006). Our second measure of labor strength is calculated on the Added Value Statement (AVS). Consistent with our hypothesis, we find that labor strength is associated with earnings management. These findings contribute to the research line that verifies the interference of the labor strength on earnings management, enriching the international literature, considering that the institutional structure about unions is different between Brazil and the United States. In addition, this paper contributes to national research on earnings management by identifying a new potential determinant for earnings management.

2018
Disertaciones
1
  • MURILO ALMEIDA SANTOS
  • The Relation Between Incentive Contracts and R&D Investment Expenses: A Panel Study in the Brazilian Scenario (2010 to 2017)

  • Líder : JOSE MARIA DIAS FILHO
  • MIEMBROS DE LA BANCA :
  • JOSE MARIA DIAS FILHO
  • LUIS PAULO GUIMARAES DOS SANTOS
  • MIGUEL ANGEL RIVERA CASTRO
  • Data: 17-dic-2018


  • Resumen Espectáculo
  • The establishment of effective contracts, which mitigate agency conflicts, is now one of the main objectives of corporate governance. For this, knowing the points of contractual inadequacy becomes one of the first necessities in the search for the correct configuration of the instruments of negotiation. This study focuses on the investigation of associations between R & D investment expenditures, an important instrument for achieving competitive advantage and market leadership, and the structure of the remuneration incentive contracts granted by companies, conducting the study from the perspective that the compensation portion linked to the short-term results could act as a motivational factor for the opportunistic cut of the long-term investments. It was evaluated 53 companies that showed in their results the realization and the amount of resources invested in R&D, between the years 2010 to 2017. The general objective was to verify the existence of an association between the expenses incurred with this investment and the remuneration paid to fixed salary plus bonuses or just bonuses, expecting an inverse relationship that would signal the presence of the managerial myopia problem motivated by these dysfunctional incentives. This evaluation was controlled by variables that represent the influence of the problem of the horizon for the professional that occupies the position of CEO, being this problem represented by three different proxies: age of the professional, term of office and term remaining in the position. Among the results found, the graphical analyzes, in principle, indicate a positive association between the main variables of interest, which was corroborated by the Pearson and Spearman correlation coefficients and also by the results of the regression of the proposed models performed using the stacked OLS technique. The results of the regressions that presented statistical significance were theoretically interpreted where an apparent divergence was observed in the answer given to the hypotheses raised, but that opens space for considerations regarding the possibilities that would be giving origin to the results found, being the characteristics of the data and the diversity the most likely reason for this apparent divergence. From these results, the present work provides the first indications regarding the study of the subject in Brazil and, although they can not be considered conclusive, the findings of this research provide support that guides the understanding of the studies of this theme in the national scenario and fulfills a fundamental function of the particular challenges and characteristics of the national context. The contribution of the work is to broaden the knowledge of the literature of the area, both in the field of evaluations on the problem of managerial myopia and the problem of horizon and investments in R&D as it provides a more informed scenario, directing future research that may contribute to elucidating these issues on the national scene.

2017
Disertaciones
1
  • DIEGO EMANOEL SOUSA GONÇALVES
  • IMPACT OF CONVERGENCE WITH INTERNATIONAL ACCOUNTING STANDARDS ON THE EQUITY RISK AWARD IN COMPANIES LISTED ON BM & FBOVESPA

  • Líder : GISELE FERREIRA TIRYAKI
  • MIEMBROS DE LA BANCA :
  • GISELE FERREIRA TIRYAKI
  • LUIS PAULO GUIMARAES DOS SANTOS
  • CLEITON SILVA DE JESUS
  • Data: 19-jul-2017


  • Resumen Espectáculo
  • The full adoption of international accounting standards (IFRS) by Brazilian companies, as of 2010, aimed at better disclosure of accounting information. This initiative has the potential to reduce informational asymmetry, reducing the cost of raising funds and, consequently, resulting in a lower equity risk premium for companies. The present research sought to verify the impact of convergence to IFRS on the equity risk premium in the companies listed on BM & FBOVESPA. To achieve this objective, an empirical study was carried out that estimated the equity risk premium of the companies listed on the BM & FBOVESPA from 2004 to 2015, based on a model "adapted" to the CAPM, to which idiosyncratic risk variables were included. The data of the research were arranged in panel and an analysis of the descriptive statistics of the variables that compose the proposed model for estimation of the cost of capital of the researched companies, structured in three periods; the full period of the survey (2007-2015), the pre-convergence period to IFRS (2007-2009) and the post-convergence period to IFRS (2010-2015). After these steps, there was a 101.64% reduction in the average equity risk premium of the companies surveyed in the post-convergence period to IFRS, compared to the pre-convergence period average. In addition, it was observed that the correlation coefficient between the capital cost proxy and the IFRS variable showed a negative association between them, which shows that the cost of capital is inversely related to the adoption of IFRS. These findings are in line with previous work that also found a reduction in the equity risk premium of companies after the adoption of IFRS. In addition, the research results confirm the improvement of the informational content of the accounting information disclosed by the companies listed on the BM & FBOVESPA after the adoption of IFRS, again aligning with previous work. Given this scenario, the hypothesis is accepted that "there was a reduction in the equity risk premium of listed companies on BM & FBOVESPA after convergence of international accounting standards". Regarding the analysis of idiosyncratic risk variables, it was verified that they did not present statistical significance to explain the equity risk premium of the companies in the sample. Such a result refutes scientific findings that the inclusion of such risk factors in the CAPM provides more accurate estimates of the cost of capital in a sample of listed non-financial corporations domiciled in the European market in the year 2013. It was also found that the American Depositary Receipt (ADR) were not significant to explain the behavior of the Cost of Own Capital of the companies in the sample. This observation is in line with results obtained in the Brazilian literature that already warned for such phenomenon. In a complementary way, the results of this study refute the results of studies that did not observe evidence of improvement in the information content and reduction of the cost of capital of publicly traded companies in the periods of partial and mandatory adoption of IFRS in Brazil.

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