cometadata/datacite-titles-descriptions-related-identifiers huggingface dataset:
DOI: 10.6084/m9.figshare.20025377
title: Corporate Governance Characteristics as a Stimulus to Tax Management

description: This article aimed to investigate whether corporate governance uses tax management to increase companies' performance. The objective was checking whether corporate governance characteristics, such as remuneration paid to the executive board, segregation between Chairman and CEO, and the independence and composition of the Board of Directors, influence tax management in Brazilian companies. At the same time, it aimed to identify whether the preceding tax management is reflected on the subsequent tax management. To do this, a sample of 355 Brazilian companies listed on the BM&FBOVESPA between 2008 and 2014 was used, in order to find out whether their corporate governance characteristics influenced tax management, something identified by calculating ETR, CashETR, and BTD. As a result, it was found (i) that the remuneration paid to executives may be regarded as a characteristic influencing tax management in Brazilian firms, and (ii) that the preceding tax management influences the future tax management. In addition, it was found that Brazilian companies do not rule out tax management benefits, since the average effective rate in the sample under analysis was 25%, and it is statistically lower than the nominal rate of taxes on earnings in Brazil, which is 34%.
DOI: 10.6084/m9.figshare.20025380.v1
title: Consequences for Future Return with Earnings Management through Real Operating Activities

description: ABSTRACT This article analyzes earnings management through real operating activities by firms in the Brazilian capital market. This way of manipulating outcomes takes place when managers make suboptimal decisions in terms of timing and volume of operating activities. This study tests the hypothesis that firms engaged in earnings management through real operating activities might have a negative impact on future returns. Our analysis is restricted to nonfinancial firms listed on the Brazilian Securities, Commodities, and Futures Exchange (BM&FBOVESPA) with annual data made available by the Economatica(r) for the years from 1989 to 2012. Empirical tests involving regression on panel data and estimation of future firm returns and outcomes indicate a negative impact on return on assets (ROA) related to manipulation through real operating activities. This finding is useful for several stakeholders. It demonstrates that manipulation through real operating activities takes place in the Brazilian capital market, suggesting that earnings management extends beyond discretionary accounting choices in this country. The main contribution is demonstrating a negative relation between earnings management by using real operating activities and future returns. This finding is relevant for investors, particularly for the purposes of comparison and valuation of securities.
DOI: 10.6084/m9.figshare.20025380
title: Consequences for Future Return with Earnings Management through Real Operating Activities

description: ABSTRACT This article analyzes earnings management through real operating activities by firms in the Brazilian capital market. This way of manipulating outcomes takes place when managers make suboptimal decisions in terms of timing and volume of operating activities. This study tests the hypothesis that firms engaged in earnings management through real operating activities might have a negative impact on future returns. Our analysis is restricted to nonfinancial firms listed on the Brazilian Securities, Commodities, and Futures Exchange (BM&FBOVESPA) with annual data made available by the Economatica(r) for the years from 1989 to 2012. Empirical tests involving regression on panel data and estimation of future firm returns and outcomes indicate a negative impact on return on assets (ROA) related to manipulation through real operating activities. This finding is useful for several stakeholders. It demonstrates that manipulation through real operating activities takes place in the Brazilian capital market, suggesting that earnings management extends beyond discretionary accounting choices in this country. The main contribution is demonstrating a negative relation between earnings management by using real operating activities and future returns. This finding is relevant for investors, particularly for the purposes of comparison and valuation of securities.
DOI: 10.6084/m9.figshare.20025379.v1
title: Meta-Interpretation: Fifteen Years of Research with the Management Report

description: ABSTRACT This paper deals with Brazilian empirical research published in journals between 2000 and mid-2015 that used, as a source of data, the Management Reports (MRs) released by publicly-traded companies together with their financial statements. MRs differ from each other, both in form as well as in substance, and due to this as well as to their other characteristics, they prove attractive for academic studies interested in official company discourse, more so because they involve documents that are public and retrievable over time, covering a substantial range of typically larger companies from different economic sectors. Driven by these characteristics, the goal of this study was to understand the way the academic world understands and uses the MR. The paper favored an interpretivist viewpoint, but used the triangulation allowed by the use of qualitative (content analysis) and quantitative (statistical, sociometric, and bibliometric analyses) methods. It was concluded that, for the core group of experts who dealt with the document, the MR is biased, incomplete, questionable, unclear, laborious, uncertain, but also useful - in the absence of another -, comprehensive, available, and retrievable over time. And it lends itself to the interest of company directors by increasing their value and at the same time legitimizing their companies, incorporating into discourse the use of contemporary management practices, consistent with the expectations of stakeholders. Finally, it suggests the possibility, unexplored in the articles analyzed, of employing the MR to study the dynamics of the institutionalization of administrative practices among companies in the country.
DOI: 10.6084/m9.figshare.20025379
title: Meta-Interpretation: Fifteen Years of Research with the Management Report

description: ABSTRACT This paper deals with Brazilian empirical research published in journals between 2000 and mid-2015 that used, as a source of data, the Management Reports (MRs) released by publicly-traded companies together with their financial statements. MRs differ from each other, both in form as well as in substance, and due to this as well as to their other characteristics, they prove attractive for academic studies interested in official company discourse, more so because they involve documents that are public and retrievable over time, covering a substantial range of typically larger companies from different economic sectors. Driven by these characteristics, the goal of this study was to understand the way the academic world understands and uses the MR. The paper favored an interpretivist viewpoint, but used the triangulation allowed by the use of qualitative (content analysis) and quantitative (statistical, sociometric, and bibliometric analyses) methods. It was concluded that, for the core group of experts who dealt with the document, the MR is biased, incomplete, questionable, unclear, laborious, uncertain, but also useful - in the absence of another -, comprehensive, available, and retrievable over time. And it lends itself to the interest of company directors by increasing their value and at the same time legitimizing their companies, incorporating into discourse the use of contemporary management practices, consistent with the expectations of stakeholders. Finally, it suggests the possibility, unexplored in the articles analyzed, of employing the MR to study the dynamics of the institutionalization of administrative practices among companies in the country.
DOI: 10.6084/m9.figshare.20025382
title: Return and Liquidity Relationships on Market and Accounting Levels in Brazil

description: ABSTRACT This article discusses profitability-liquidity relationships on accounting and market levels for 872 shares of publicly-traded Brazilian companies, observed between 1994 and 2013. On the market level, the assumption is that share liquidity is able to reduce some of the risks incurred by investors, making them more willing to pay a higher price for liquid shares, which would lower expected market returns. On the accounting level, the basic hypothesis argues that a firm's holding more liquid assets is related to a conservative investment policy, possibly reducing accounting returns for shareholders. Under the assumption of financial constraint, however, more accounting liquidity would allow positive net present value investments to be carried out, increasing future accounting returns, which would positively affect market liquidity and share prices in an efficient market, resulting in a lower market risk/expected return premium. Under the assumption of no financial constraint, however, more accounting liquidity would only represent a carry cost, compromising future accounting returns, which would adversely affect market liquidity and share prices and result in a higher market risk/expected return premium. Among the hypotheses, the presence of a negative market liquidity premium was verified in Brazil, with shares that traded more exhibiting a higher expected market return. On the margins of the major theories on the subject, only two negative relationships between excess accounting liquidity and market liquidity and accounting return, supporting the carry cost assumption for financially unconstrained firms, were verified. In terms of this paper's contributions, there is the analysis, unprecedented in Brazil as far as is known, of the relationship between liquidity and return on market and accounting levels, considering the financial constraint hypothesis to which the firms are subject.
DOI: 10.6084/m9.figshare.20025382.v1
title: Return and Liquidity Relationships on Market and Accounting Levels in Brazil

description: ABSTRACT This article discusses profitability-liquidity relationships on accounting and market levels for 872 shares of publicly-traded Brazilian companies, observed between 1994 and 2013. On the market level, the assumption is that share liquidity is able to reduce some of the risks incurred by investors, making them more willing to pay a higher price for liquid shares, which would lower expected market returns. On the accounting level, the basic hypothesis argues that a firm's holding more liquid assets is related to a conservative investment policy, possibly reducing accounting returns for shareholders. Under the assumption of financial constraint, however, more accounting liquidity would allow positive net present value investments to be carried out, increasing future accounting returns, which would positively affect market liquidity and share prices in an efficient market, resulting in a lower market risk/expected return premium. Under the assumption of no financial constraint, however, more accounting liquidity would only represent a carry cost, compromising future accounting returns, which would adversely affect market liquidity and share prices and result in a higher market risk/expected return premium. Among the hypotheses, the presence of a negative market liquidity premium was verified in Brazil, with shares that traded more exhibiting a higher expected market return. On the margins of the major theories on the subject, only two negative relationships between excess accounting liquidity and market liquidity and accounting return, supporting the carry cost assumption for financially unconstrained firms, were verified. In terms of this paper's contributions, there is the analysis, unprecedented in Brazil as far as is known, of the relationship between liquidity and return on market and accounting levels, considering the financial constraint hypothesis to which the firms are subject.
DOI: 10.6084/m9.figshare.20025383.v1
title: Motivational Factors for the Master's Degree: a Comparison between Students in Accounting And Economics in the Light of the Self-Determination Theory,

description: ABSTRACT The general aim of this study was identifying the motivational level of students in Accounting and Economics regarding the search for a stricto sensu graduate degree. Also, it sought to determine the variables that significantly influence the motivation of these individuals. Having the Self-Determination Theory as a basis, a questionnaire was prepared resorting to the Academic Motivation Scale developed by Vallerand, Pelletier, Blais, Brière, Senécal, and Vallières (1992), and translated into Portuguese by Sobral (2003). The database contains observations of 173 university students from public institutions in Minas Gerais, Brazil, which provided courses in Accounting and Economics. The methodological procedure consisted in conducting a non-parametric test of mean values for the Motivation Self-Determination Index (MSI) of students, in calculating the correlations between the MSI and individual characteristics of students, and finally in estimating multiple linear regressions. Research results indicated that students in Accounting showed no difference regarding the motivational level when compared to students in Economics. It was also possible to notice that women, older students, scientific initiation scholarship holders, those from lower socioeconomic backgrounds, and those whose mothers have higher educational level tend to have a rather self-determined motivation. Additionally, it was found that insertion into the labor market increases self-determined motivation to pursue a stricto sensu Master's degree only in the case of students in Accounting. The research was limited to the fact that the sample only included students of public education institutions from Minas Gerais. For future research, it is suggested that the procedures of this study be replicated in privet institution and in different states.
DOI: 10.6084/m9.figshare.20025383
title: Motivational Factors for the Master's Degree: a Comparison between Students in Accounting And Economics in the Light of the Self-Determination Theory,

description: ABSTRACT The general aim of this study was identifying the motivational level of students in Accounting and Economics regarding the search for a stricto sensu graduate degree. Also, it sought to determine the variables that significantly influence the motivation of these individuals. Having the Self-Determination Theory as a basis, a questionnaire was prepared resorting to the Academic Motivation Scale developed by Vallerand, Pelletier, Blais, Brière, Senécal, and Vallières (1992), and translated into Portuguese by Sobral (2003). The database contains observations of 173 university students from public institutions in Minas Gerais, Brazil, which provided courses in Accounting and Economics. The methodological procedure consisted in conducting a non-parametric test of mean values for the Motivation Self-Determination Index (MSI) of students, in calculating the correlations between the MSI and individual characteristics of students, and finally in estimating multiple linear regressions. Research results indicated that students in Accounting showed no difference regarding the motivational level when compared to students in Economics. It was also possible to notice that women, older students, scientific initiation scholarship holders, those from lower socioeconomic backgrounds, and those whose mothers have higher educational level tend to have a rather self-determined motivation. Additionally, it was found that insertion into the labor market increases self-determined motivation to pursue a stricto sensu Master's degree only in the case of students in Accounting. The research was limited to the fact that the sample only included students of public education institutions from Minas Gerais. For future research, it is suggested that the procedures of this study be replicated in privet institution and in different states.
DOI: 10.6084/m9.figshare.20025388
title: Debt Issues and Earnings Management

description: ABSTRACT The aim of this paper is to analyze earnings management (EM) surrounding debenture issues of companies listed on the BM&FBOVESPA. EM is an intentional intervention in external financial reports in order to obtain some private gain. This practice is especially important at the time of issuing debentures because if earnings are inflated, investors may pay an artificially high price. To measure earnings management, current discretionary accruals were used as a proxy, based on the Modified Jones and Modified Jones with ROA econometric models. All of the regressions considered the fixed effects of the companies and the time series effects of the analyses. Evidence was found that companies inflate their financial results in the issuing period in order to positively influence their investors. The results suggest that there is EM in the quarter preceding the issue (t = - 1), indicating the influence that investors may have been under when making the decision to invest in debentures from these companies. In addition, it was verified that companies with higher debt, profitability, and sales growth ratios have higher levels of earnings management. The reputation of the auditor was not statistically significant regarding reductions in the level of management. The results also show that companies listed on Level II and New Market had higher levels of management when considering the Modified Jones with ROA model. Therefore, it can be concluded that there is a greater level of earnings management in companies that issue debentures in the period preceding the event. Finally, the variable that is directly related to the level of earnings management is sales growth.
DOI: 10.6084/m9.figshare.20025388.v1
title: Debt Issues and Earnings Management

description: ABSTRACT The aim of this paper is to analyze earnings management (EM) surrounding debenture issues of companies listed on the BM&FBOVESPA. EM is an intentional intervention in external financial reports in order to obtain some private gain. This practice is especially important at the time of issuing debentures because if earnings are inflated, investors may pay an artificially high price. To measure earnings management, current discretionary accruals were used as a proxy, based on the Modified Jones and Modified Jones with ROA econometric models. All of the regressions considered the fixed effects of the companies and the time series effects of the analyses. Evidence was found that companies inflate their financial results in the issuing period in order to positively influence their investors. The results suggest that there is EM in the quarter preceding the issue (t = - 1), indicating the influence that investors may have been under when making the decision to invest in debentures from these companies. In addition, it was verified that companies with higher debt, profitability, and sales growth ratios have higher levels of earnings management. The reputation of the auditor was not statistically significant regarding reductions in the level of management. The results also show that companies listed on Level II and New Market had higher levels of management when considering the Modified Jones with ROA model. Therefore, it can be concluded that there is a greater level of earnings management in companies that issue debentures in the period preceding the event. Finally, the variable that is directly related to the level of earnings management is sales growth.
DOI: 10.6084/m9.figshare.20025391.v1
title: Adaptation of the Balanced Scorecard: Case Study in a Fuel Distribution Company

description: ABSTRACT This study aims to analyze and explain the adaptation of the balanced scorecard (BSC), through the theoretical model by Ansari, Fiss and Zajac (2010), in a fuel distribution company (nicknamed Oil Company), which is characterized in this article as a late adopter. By doing so, we place the adaptation process at the heart of our research on the diffusion of management accounting practices. The results showed that the BSC adopted in the Oil Company is compatible with other technologies observed in the organization. Regarding the cultural aspect, there was low adaptation of the practice to the organizational culture; however, no political misfits were observed. Due to this low cultural fit between the BSC and the Oil Company, in the latter the BSC has high fidelity and low extension in relation to the model observed in the extant literature. The article builds on the theoretical and empirical evidence that a specific adaptation pattern depends on the fit between the technical, cultural, and political characteristics of the practice implemented and the characteristics of the company. This is a distinctive aspect of our study, as it seeks to explain variations in the organizational practices by analyzing their consistency with the needs, objectives, and structure of the adopting company, especially considering the cultural and political aspects involved in the adaptation process.
DOI: 10.6084/m9.figshare.20025391
title: Adaptation of the Balanced Scorecard: Case Study in a Fuel Distribution Company

description: ABSTRACT This study aims to analyze and explain the adaptation of the balanced scorecard (BSC), through the theoretical model by Ansari, Fiss and Zajac (2010), in a fuel distribution company (nicknamed Oil Company), which is characterized in this article as a late adopter. By doing so, we place the adaptation process at the heart of our research on the diffusion of management accounting practices. The results showed that the BSC adopted in the Oil Company is compatible with other technologies observed in the organization. Regarding the cultural aspect, there was low adaptation of the practice to the organizational culture; however, no political misfits were observed. Due to this low cultural fit between the BSC and the Oil Company, in the latter the BSC has high fidelity and low extension in relation to the model observed in the extant literature. The article builds on the theoretical and empirical evidence that a specific adaptation pattern depends on the fit between the technical, cultural, and political characteristics of the practice implemented and the characteristics of the company. This is a distinctive aspect of our study, as it seeks to explain variations in the organizational practices by analyzing their consistency with the needs, objectives, and structure of the adopting company, especially considering the cultural and political aspects involved in the adaptation process.
DOI: 10.6084/m9.figshare.20025394
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.