cometadata/datacite-titles-descriptions-related-identifiers huggingface dataset:
DOI: 10.6084/m9.figshare.20025394.v1
title: Determinants of Goodwill Impairment Loss Recognition

description: Abstract This study aimed to verify the determinants of goodwill impairment (GOODWIMP) loss recognition in Brazilian companies. For this, a descriptive and documentary study was carried out in which information was collected from databases and explanatory notes using a quantitative approach. The study sample was comprised of Brazilian companies listed on the Thomson database, totaling 91 companies and 346 observations. Data were collected from 2011 to 2014. For the treatment and analysis of the data, logistic regression with panel data was used. The results show that the factors change in management (CHMAN), book-to-market (BM), number of cash generating units (CGU), variation in return on assets (ΔROA) and goodwill (GOODW) were significant in determining GOODWIMP losses. These findings indicate that in addition to economic factors, managers' actions are associated with the recognition of such losses, which can be characterized as incentives for earnings management (EM) practices. Therefore, it is generally concluded that the GOODWIMP losses recognized in the companies analyzed may not only have been used to reduce their assets to recoverable amounts, but also to achieve results consistent with the objectives of managers.
DOI: 10.6084/m9.figshare.20025395
title: The Effect of Strategic Choices and Management Control Systems on Organizational Performance

description: ABSTRACT The study investigates the effect of generic strategic choices and management control systems (MCS) on the organizational performance of large and medium-sized companies located in Espírito Santo, using Contingency Theory as the theoretical framework. It is a quantitative study, using a survey as the data collection technique. 73 questionnaires were validated, after being completed by those responsible for the controlling or related area of these enterprises over the period between February and April of 2014. The data analysis was performed using the structural equations modeling technique. The main results indicate that: (i) competitive forces shape the strategy adopted by the organizations surveyed, however, contrary to what the literature predicts, those companies that operate in more competitive environments choose a strategy of cost leadership instead of differentiation; (ii) the design and use of the MCS is influenced by the strategy chosen, and the use of contemporary management practices is associated with a differentiation strategy; (iii) strategic choices and the MCS have a positive impact on organizational performance. In addition, those companies that combine differentiation strategy with contemporary management practices perform better than the other companies analyzed.
DOI: 10.6084/m9.figshare.20025395.v1
title: The Effect of Strategic Choices and Management Control Systems on Organizational Performance

description: ABSTRACT The study investigates the effect of generic strategic choices and management control systems (MCS) on the organizational performance of large and medium-sized companies located in Espírito Santo, using Contingency Theory as the theoretical framework. It is a quantitative study, using a survey as the data collection technique. 73 questionnaires were validated, after being completed by those responsible for the controlling or related area of these enterprises over the period between February and April of 2014. The data analysis was performed using the structural equations modeling technique. The main results indicate that: (i) competitive forces shape the strategy adopted by the organizations surveyed, however, contrary to what the literature predicts, those companies that operate in more competitive environments choose a strategy of cost leadership instead of differentiation; (ii) the design and use of the MCS is influenced by the strategy chosen, and the use of contemporary management practices is associated with a differentiation strategy; (iii) strategic choices and the MCS have a positive impact on organizational performance. In addition, those companies that combine differentiation strategy with contemporary management practices perform better than the other companies analyzed.
DOI: 10.6084/m9.figshare.20025397.v1
title: The unidirectional relationship between consumer confidence and PSI-20 returns - The influence of the economic cycle

description: ABSTRACT The aim of this paper is to determine the relationship between market sentiment and rates of return on the main Portuguese benchmark and verify whether this relationship is influenced by different economic cycles. Given the subjectivity inherent to the use of variables capturing investor sentiment, the Consumer Confidence Index (CCI) was used as a benchmark. To achieve the proposed objective, an analysis of time series stationarity, Pearson correlation, and Granger causality using the autoregressive vectors model was carried out, followed by the Least Squares Method with macroeconomic variables. The results obtained suggest a one-way relationship between stock market returns and the sentiment variable. In fact, in times of recession, investor pessimism induces linear behavior and the sentiment-return relationship is more evident. This article will thus be of interest both to the academic community, in providing a basis for future investigations, and to managers and investors, with regards to the perception that the predictability of returns will be easier in periods of recession.
DOI: 10.6084/m9.figshare.20025397
title: The unidirectional relationship between consumer confidence and PSI-20 returns - The influence of the economic cycle

description: ABSTRACT The aim of this paper is to determine the relationship between market sentiment and rates of return on the main Portuguese benchmark and verify whether this relationship is influenced by different economic cycles. Given the subjectivity inherent to the use of variables capturing investor sentiment, the Consumer Confidence Index (CCI) was used as a benchmark. To achieve the proposed objective, an analysis of time series stationarity, Pearson correlation, and Granger causality using the autoregressive vectors model was carried out, followed by the Least Squares Method with macroeconomic variables. The results obtained suggest a one-way relationship between stock market returns and the sentiment variable. In fact, in times of recession, investor pessimism induces linear behavior and the sentiment-return relationship is more evident. This article will thus be of interest both to the academic community, in providing a basis for future investigations, and to managers and investors, with regards to the perception that the predictability of returns will be easier in periods of recession.
DOI: 10.6084/m9.figshare.20025398.v1
title: Reducing information asymmetry from the management control perspective: discussion of practices in transparent companies

description: ABSTRACT The capital market is supplied with information daily, but when this is made available in an incomprehensible way, it becomes a potential barrier to investment. In order to overcome this shortcoming, constantly improved regulations intensify the need for more and better information. In the managerial context, empirical studies indicate that there is a low level of use of modern Management Accounting tools; however, on a theoretical level, Accounting Theory prescribes that Accounting must effectively meet the needs of its external and internal users. It is thus believed that not only financial but also management information would be apparent in its reports. This investigation aims to verify whether there are differences with regards to the level of reporting of management control practices in the financial statements of companies nominated for the Transparency Award, organized by the National Association of Finance, Administration, and Accounting Executives (ANEFAC), the Accounting, Actuarial, and Financial Research Institute (FIPECAFI) and Serasa Experian, compared with the other companies listed on the São Paulo Stock, Commodities, and Futures Exchange (BM&FBOVESPA). These elements were defined based on a discourse analysis of Management Reports (MRs) and the evidence was tested using Multiple Correspondence Analysis. The sample consists of 19 MRs from publicly-traded companies that were nominated for the Transparency Trophy and 129 MRs from companies listed on the BM&FBOVESPA. The findings show that the companies nominated for the award have some special informational categories in the discourses of their MRs and that these elements are not enough to show differences in the level of transparency of management control practices.
DOI: 10.6084/m9.figshare.20025398
title: Reducing information asymmetry from the management control perspective: discussion of practices in transparent companies

description: ABSTRACT The capital market is supplied with information daily, but when this is made available in an incomprehensible way, it becomes a potential barrier to investment. In order to overcome this shortcoming, constantly improved regulations intensify the need for more and better information. In the managerial context, empirical studies indicate that there is a low level of use of modern Management Accounting tools; however, on a theoretical level, Accounting Theory prescribes that Accounting must effectively meet the needs of its external and internal users. It is thus believed that not only financial but also management information would be apparent in its reports. This investigation aims to verify whether there are differences with regards to the level of reporting of management control practices in the financial statements of companies nominated for the Transparency Award, organized by the National Association of Finance, Administration, and Accounting Executives (ANEFAC), the Accounting, Actuarial, and Financial Research Institute (FIPECAFI) and Serasa Experian, compared with the other companies listed on the São Paulo Stock, Commodities, and Futures Exchange (BM&FBOVESPA). These elements were defined based on a discourse analysis of Management Reports (MRs) and the evidence was tested using Multiple Correspondence Analysis. The sample consists of 19 MRs from publicly-traded companies that were nominated for the Transparency Trophy and 129 MRs from companies listed on the BM&FBOVESPA. The findings show that the companies nominated for the award have some special informational categories in the discourses of their MRs and that these elements are not enough to show differences in the level of transparency of management control practices.
DOI: 10.6084/m9.figshare.20025400.v1
title: The influence of the 2008 financial crisis on the predictiveness of risky asset pricing models in Brazil

description: ABSTRACT This article examines three models for pricing risky assets, the capital asset pricing model (CAPM) from Sharpe and Lintner, the three factor model from Fama and French, and the four factor model from Carhart, in the Brazilian mark et for the period from 2002 to 2013. The data is composed of shares traded on the São Paulo Stock, Commodities, and Futures Exchange (BM&FBOVESPA) on a monthly basis, excluding financial sector shares, those with negative net equity, and those without consecutive monthly quotations. The proxy for market return is the Brazil Index (IBrX) and for riskless assets savings accounts are used. The 2008 crisis, an event of immense proportions and market losses, may have caused alterations in the relationship structure of risky assets, causing changes in pricing model results. Division of the total period into pre-crisis and post-crisis sub-periods is the strategy used in order to achieve the main objective: to analyze the effects of the crisis on asset pricing model results and their predictive power. It is verified that the factors considered are relevant in the Brazilian market in both periods, but between the periods, changes occur in the statistical relevance of sensitivities to the market premium and to the value factor. Moreover, the predictive ability of the pricing models is greater in the post-crisis period, especially for the multifactor models, with the four factor model able to improve predictions of portfolio returns in this period by up to 80%, when compared to the CAPM.
DOI: 10.6084/m9.figshare.20025400
title: The influence of the 2008 financial crisis on the predictiveness of risky asset pricing models in Brazil

description: ABSTRACT This article examines three models for pricing risky assets, the capital asset pricing model (CAPM) from Sharpe and Lintner, the three factor model from Fama and French, and the four factor model from Carhart, in the Brazilian mark et for the period from 2002 to 2013. The data is composed of shares traded on the São Paulo Stock, Commodities, and Futures Exchange (BM&FBOVESPA) on a monthly basis, excluding financial sector shares, those with negative net equity, and those without consecutive monthly quotations. The proxy for market return is the Brazil Index (IBrX) and for riskless assets savings accounts are used. The 2008 crisis, an event of immense proportions and market losses, may have caused alterations in the relationship structure of risky assets, causing changes in pricing model results. Division of the total period into pre-crisis and post-crisis sub-periods is the strategy used in order to achieve the main objective: to analyze the effects of the crisis on asset pricing model results and their predictive power. It is verified that the factors considered are relevant in the Brazilian market in both periods, but between the periods, changes occur in the statistical relevance of sensitivities to the market premium and to the value factor. Moreover, the predictive ability of the pricing models is greater in the post-crisis period, especially for the multifactor models, with the four factor model able to improve predictions of portfolio returns in this period by up to 80%, when compared to the CAPM.
DOI: 10.6084/m9.figshare.20025412.v1
title: Social quotas, affirmative actions, and dropout in the Business field: empirical analysis in a Brazilian federal university

description: ABSTRACT Rawls' Justice Theory establishes that a fair society must allow less advantaged people to have access to the benefits of social cooperation. In this line of thought, the affirmative actions established by Law 12,711/2012 aim at promoting inclusive education in Higher Education. Evaluating the performance of affirmative actions, specifically their impact on the dropout level, has been a theme of debate in scientific literature. Besides representing a personal frustration, dropout is associated with significant academic, social, and economic losses. In this context, this research aims at analyzing whether the adoption of affirmative actions, as established by Law 12,711/2012, affects the dropout rates of students in Accounting Sciences and other courses in the Business field. The study was conducted through documentary research in a Brazilian public Higher Education institution (HEI). The results of binomial analysis showed that out of the 2,418 students who entered in the first semester of 2013, 520 (22%) dropped out from university until the end of the first semester of 2014. It was found that the dropout rate among entrants in the Business field, either through broad competition or using the system of quotas, was 29%. In the course of Accounting Sciences, the dropout rate among entrants admitted through broad competition was 25% and using the system of quotas it was 23%. Contrary to other investigations, this study found that there is no statistical difference between the dropout rates among entrants in the Business and Accounting Sciences fields through broad competition and quotas, suggesting that affirmative actions do not affect significantly the dropout rates.
DOI: 10.6084/m9.figshare.20025412
title: Social quotas, affirmative actions, and dropout in the Business field: empirical analysis in a Brazilian federal university

description: ABSTRACT Rawls' Justice Theory establishes that a fair society must allow less advantaged people to have access to the benefits of social cooperation. In this line of thought, the affirmative actions established by Law 12,711/2012 aim at promoting inclusive education in Higher Education. Evaluating the performance of affirmative actions, specifically their impact on the dropout level, has been a theme of debate in scientific literature. Besides representing a personal frustration, dropout is associated with significant academic, social, and economic losses. In this context, this research aims at analyzing whether the adoption of affirmative actions, as established by Law 12,711/2012, affects the dropout rates of students in Accounting Sciences and other courses in the Business field. The study was conducted through documentary research in a Brazilian public Higher Education institution (HEI). The results of binomial analysis showed that out of the 2,418 students who entered in the first semester of 2013, 520 (22%) dropped out from university until the end of the first semester of 2014. It was found that the dropout rate among entrants in the Business field, either through broad competition or using the system of quotas, was 29%. In the course of Accounting Sciences, the dropout rate among entrants admitted through broad competition was 25% and using the system of quotas it was 23%. Contrary to other investigations, this study found that there is no statistical difference between the dropout rates among entrants in the Business and Accounting Sciences fields through broad competition and quotas, suggesting that affirmative actions do not affect significantly the dropout rates.
DOI: 10.6084/m9.figshare.20025418.v1
title: Why has not it worked? An empirical application of the extended Burns and Scapens' framework within the implementation of a controlling department

description: ABSTRACT The aim of this study is to understand the implementation of a controlling department within Bogt and Scapens' framework (2014) as an empirical observation mechanism towards investigating rationalities that prevented its implementation. This study was conducted in a quite successful 63-year old company in the South of Brazil. We hope these results promote practical insight to those interested in supporting changes within this field of organizational environment. There had been two main reasons leading to such work: a lack of equivalent study in the scholarly literature as well as empirical application of Burns and Scapens' framework (2000) reorganized by Bogt and Scapens (2014). Bogt and Scapens (2014), inspired by different logics (Bogt & Scapens, 2012) and in order to revaluate their original framework (2000), suggest the introduction of a fairly important term: rationality. This new element shows the deliberate action from the organizational player - his/her way of thinking. However, even with the introduction of rationales within the model by Bogt and Scapens (2014), rules and routines remain as important elements so that actions take shape. Used methodology consists of an interpretational case study with document analysis, direct observation, and application of semi-structured interviews. Through the interviews and discussions with individuals involved in the study, it can be observed that some rationality resulted in conflicts. Different rationales and the culture of the individual and the organization are relevant aspects observed in the speeches analyzed; all may be factors, which led to the gap within the process of implementation of controlling department in the organization. In addition, time factors suggested in the extended Bogt and Scapens' (2014) framework is of utmost importance for changes must occur gradually.
DOI: 10.6084/m9.figshare.20025418
title: Why has not it worked? An empirical application of the extended Burns and Scapens' framework within the implementation of a controlling department

description: ABSTRACT The aim of this study is to understand the implementation of a controlling department within Bogt and Scapens' framework (2014) as an empirical observation mechanism towards investigating rationalities that prevented its implementation. This study was conducted in a quite successful 63-year old company in the South of Brazil. We hope these results promote practical insight to those interested in supporting changes within this field of organizational environment. There had been two main reasons leading to such work: a lack of equivalent study in the scholarly literature as well as empirical application of Burns and Scapens' framework (2000) reorganized by Bogt and Scapens (2014). Bogt and Scapens (2014), inspired by different logics (Bogt & Scapens, 2012) and in order to revaluate their original framework (2000), suggest the introduction of a fairly important term: rationality. This new element shows the deliberate action from the organizational player - his/her way of thinking. However, even with the introduction of rationales within the model by Bogt and Scapens (2014), rules and routines remain as important elements so that actions take shape. Used methodology consists of an interpretational case study with document analysis, direct observation, and application of semi-structured interviews. Through the interviews and discussions with individuals involved in the study, it can be observed that some rationality resulted in conflicts. Different rationales and the culture of the individual and the organization are relevant aspects observed in the speeches analyzed; all may be factors, which led to the gap within the process of implementation of controlling department in the organization. In addition, time factors suggested in the extended Bogt and Scapens' (2014) framework is of utmost importance for changes must occur gradually.
DOI: 10.6084/m9.figshare.20025424
title: Exposition to Factors of the Investment Funds Market in Brazil

description: ABSTRACT The growth of the investment funds industry in Brazil and its international representativeness indicate the relevance of analyzing this sector. Literature has shown the effects that market factors can have on the performance of investment funds. One way of evaluating the relation between funds' returns and market factors' variations is the return-based style analysis. In this context, this research aimed to investigate, through the style analysis, the exposition to various market factors in two modalities of investment funds. With this analysis, we may infer differences between the allocations and the composition of portfolios, constructing a panorama of sensitivity of funds' returns to the market factors addressed in the study. The database consisted of daily returns of 508 funds, out of which 385 are fixed income funds and 123 are Neutral Long & Short multimarket funds, within the period from January 3, 2005, to July 11, 2014. Through the style analysis, with 6 market factors, we found a difference between the composition of portfolios of multimarket funds and portfolios of fixed income funds. Regarding the evolution of the composition of portfolios in these funds, we observed that the investment style of funds does not seem to be constant over time, something which may be a positive evidence concerning the changes that managers promote in their portfolios, seeking to achieve better profitability indicators.