Revista Contabilidade e Financas最新文献_第3页

Integrated reporting and stakeholder management: a research agenda, 综合报告和利益相关者管理:研究议程，

Revista Contabilidade e Financas Pub Date : 2021-06-25 DOI: 10.1590/1808-057x202112030

Â. G. D. Santos, Kelli Juliane Favato, Marguit Neumann

{"title":"Integrated reporting and stakeholder management: a research agenda,","authors":"Â. G. D. Santos, Kelli Juliane Favato, Marguit Neumann","doi":"10.1590/1808-057x202112030","DOIUrl":"https://doi.org/10.1590/1808-057x202112030","url":null,"abstract":"Abstract The purpose of this article was to propose an agenda for future research on stakeholder management in integrated reporting. Framework 1.0 of integrated reporting addresses the management of stakeholders as a routine in the course of business, without further details. In turn, the academy can contribute in this regard. Integrated reporting is a recent development achieved after 30 years (or more) of attempts to effectively expand accountability to stakeholders. The engagement with stakeholders produces successful results in the long term, highlighting the need to indicate to them the value of using integrated reports. Due to the absence of details in Framework 1.0, it is up to academics to actively and cautiously monitor its development and implementation. This article’s contribution is to raise research to bring the practice of integrated reporting closer, as well as generate discussions to involve academics, the International Integrated Reporting Council, national councils, and report writers. Thus, the integrated report was discussed considering that its framework must be updated (how to do it) to impact the practice (the act of doing it). For this, we used a bibliographic methodology and content analysis. We also used the literature review methodology and content analysis. We mapped 11 factors, established 10 qualitative propositions, and 35 insights for future studies. The results indicate that the stakeholder management may have reached its potential in a ceremonial way, but it lacks definitions. For the academy and the International Integrated Reporting Council, the study contributes by mapping factors and suggesting the implementation of guidelines and debates with local commissions to overcome the deficiencies pointed out by this study.","PeriodicalId":37984,"journal":{"name":"Revista Contabilidade e Financas","volume":null,"pages":null},"PeriodicalIF":0.0,"publicationDate":"2021-06-25","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"67200426","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 3

Investor sentiment, economic uncertainty, and monetary policy in Brazil, 巴西的投资者情绪、经济不确定性和货币政策，

Revista Contabilidade e Financas Pub Date : 2021-06-25 DOI: 10.1590/1808-057x202113220

Paulo Fernando Marschner, Paulo Sergio Ceretta

{"title":"Investor sentiment, economic uncertainty, and monetary policy in Brazil,","authors":"Paulo Fernando Marschner, Paulo Sergio Ceretta","doi":"10.1590/1808-057x202113220","DOIUrl":"https://doi.org/10.1590/1808-057x202113220","url":null,"abstract":"ABSTRACT The aim of this study is to analyze how economic uncertainty and monetary policy affect investor sentiment in Brazil. Investor sentiment is an important element in the finance, economics, and accounting literature and its impact on financial markets is widely documented. However, understanding the variables that affect it remains an important challenge, and this research seeks to explore this gap within the Brazilian context. The study provides initial evidence regarding the impact of economic uncertainty and monetary policy on investor sentiment in Brazil. The findings documented here provide theoretical, managerial, and social contributions, with a possible impact on the areas of finance, economics, and accounting. Monthly data were used relating to four mechanisms of transmission of economic uncertainty and of monetary policy (interest rate, exchange rate, inflation rate, economic uncertainty index) and to the consumer confidence index as a proxy for investor sentiment (covering the period from January of 2006 to March of 2020). An autoregressive distributed lag model was estimated to capture short- and long-term relationships between the variables. The results indicate that investor sentiment is affected by economic uncertainty and by the main mechanisms of transmission of monetary policy to different extents and in the different time horizons. The evidence suggests that investors, policymakers, and monetary authorities should consider sentiment as a signal, whether for altering investment portfolios or for anticipating economic trends. It also provides support for focusing on economic and monetary policy in the National Financial Education Strategy (Estratégia Nacional de Educação Financeira - ENEF) recently adopted in Brazil","PeriodicalId":37984,"journal":{"name":"Revista Contabilidade e Financas","volume":null,"pages":null},"PeriodicalIF":0.0,"publicationDate":"2021-06-25","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"67200532","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 5

What are the determining factors in the capital structure decisions of small and medium-sized firms in Cabinda, Angola?, 安哥拉卡宾达中小企业资本结构决策的决定因素是什么?，

Revista Contabilidade e Financas Pub Date : 2021-06-25 DOI: 10.1590/1808-057x202110920

João Lussuamo, Zélia Serrasqueiro

{"title":"What are the determining factors in the capital structure decisions of small and medium-sized firms in Cabinda, Angola?,","authors":"João Lussuamo, Zélia Serrasqueiro","doi":"10.1590/1808-057x202110920","DOIUrl":"https://doi.org/10.1590/1808-057x202110920","url":null,"abstract":"Abstract The objective of this study was to analyze the determining factors that explain the capital structure decisions of small and medium-sized enterprises (SMEs) in the province of Cabinda, Angola. In this study, debt maturity was also analyzed and, therefore, total indebtedness was broken down into short, medium, and long-term debt ratios. This study is motivated the poor number of studies on the determinants of the capital structure of SMEs in developing countries, more specifically in Cabinda, Angola. This research is relevant for Corporate Finance, particularly regarding the capital structure of SMEs located in a developing country like Angola. Also, it corroborates previous studies on the applicability of the principles of the pecking-order theory to SMEs in developed countries. This research present contributions to Corporate Finance, as it identifies the determinants of the capital structure of SMEs in a developing country - considering the debt maturity -, through the analysis of total debt ratios-, short-, medium- and long-term debt. Based on a sample of 73 SMEs for the period between 2011 and 2016, we used panel data models (pooled OLS, fixed and random effects). The results of this study show that tangibility, age, liquidity, and non-debt tax shield are determining factors in the decisions of the capital structure of SMEs in the province of Cabinda, Angola. Furthermore, they suggest that these firms follow the principles of pecking-order theory in capital structure decisions. The research contributes to increase studies in Corporate Finance, particularly concerning the determinants of the capital structure of SMEs located in a developing country.","PeriodicalId":37984,"journal":{"name":"Revista Contabilidade e Financas","volume":null,"pages":null},"PeriodicalIF":0.0,"publicationDate":"2021-06-25","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"67199864","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 2

Talking about succession in stricto sensu post-graduate programs in Accounting 从严格意义上讲会计研究生课程的继承

Revista Contabilidade e Financas Pub Date : 2021-06-03 DOI: 10.1590/1808-057X202190360

J. Cunha

{"title":"Talking about succession in stricto sensu post-graduate programs in Accounting","authors":"J. Cunha","doi":"10.1590/1808-057X202190360","DOIUrl":"https://doi.org/10.1590/1808-057X202190360","url":null,"abstract":"The issue of succession is an important topic and is a core concern of companies, especially in those characterized as family businesses. In this type of entity, questions related to the liquidity of existence, addressed by Bauman (2007a, 2007b, 2008), and to the founder’s dream (Flores & Grisci, 2012) are more present, primarily due to the affective/emotional/professional involvement of the players in the process. Problems of succession are also pressing in nonfamily businesses. They are more dramatic in those with no successors ready to assume command (Charan, 2005) and in state enterprises, in which they are also related to political and electoral processes (Guimarães & Silva, 2020). A successful succession process can be key to the endurance and perpetuation of an entity; that is, it is only through the process of succession that a business can expect to endure in the long run (Flores & Grisci, 2012). Within the area of universities and, more specifically, in post-graduate programs, the reality is no different. Discussing succession in stricto sensu post-graduate programs in accounting obligatorily involves the same dilemmas concerned in any other organizational environment. After more than 50 years since the creation of the first master’s course in accounting by the School of Economics, Business, and Accounting of the University of São Paulo (FEA-USP), and at a time when the area has more than 30 other programs, including academic and professional master’s and doctoral courses, succession in both the administrative and academic areas still remains to be included on the agenda for discussion, despite this already being a reality in some institutions.","PeriodicalId":37984,"journal":{"name":"Revista Contabilidade e Financas","volume":null,"pages":null},"PeriodicalIF":0.0,"publicationDate":"2021-06-03","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"67201065","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 0

Timely loss recognition in Brazilian firms under corruption investigation 巴西公司在腐败调查中及时确认损失

Revista Contabilidade e Financas Pub Date : 2021-06-03 DOI: 10.1590/1808-057X202110570

Silvia Pereira da Rocha, Francisco Antonio Bezerra

{"title":"Timely loss recognition in Brazilian firms under corruption investigation","authors":"Silvia Pereira da Rocha, Francisco Antonio Bezerra","doi":"10.1590/1808-057X202110570","DOIUrl":"https://doi.org/10.1590/1808-057X202110570","url":null,"abstract":"This article evaluates the impact of the disclosure of the participation of Brazilian firms listed on the Bolsa Brasil Balcão (B3) in corruption scandals through media scrutiny and by disclosure of independent auditors on the quality of accounting information, measured from the perspective of accounting conservatism. We examine the possible theoretical link between the disclosure of corruption scandals and the quality of accounting information in the Brazilian context. Brazil has gone through successive corruption scandals involving firms and government entities in different levels. Accounting can be an important tool to mitigate said risks based on the artifacts it has to inform key stakeholders. However, it is necessary to identify the extent to which these artifacts can be influenced by the actors involved in these scandals. The research places accounting as an instrument subject to pressures from different interests and that may be shaped to them. Although accounting is an instrument that must aim to reduce information asymmetry, preventing the harmful effects of corruption, in specific contexts, it can be used in the opposite direction, such as in cases of corruption and economic crises. We used the model based on Ball and Shivakumar (2005) with specific modeling characteristics for corruption and crisis. The models were estimated using the Stata 13 software using the pooled approach using the Ordinary Least Squares (OLS) estimation method, clustered by year and economic sector, and the Generalized Least Squares (GSL) estimator. The results point to the presence of conservatism when disclosing involvement in investigations of corruption crimes in Brazil. This behavior was less intense in firms effectively mentioned in these events. These results highlight the relevance of studies aimed at clarifying the connections between corruption and accounting reports, enabling the development of measures to curb corruption in the business environment.","PeriodicalId":37984,"journal":{"name":"Revista Contabilidade e Financas","volume":null,"pages":null},"PeriodicalIF":0.0,"publicationDate":"2021-06-03","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"47135908","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 0

Exploring the interdependence between gainsharing and performance evaluation in a credit union, 探讨信用合作社收益分享与绩效评估之间的相互依存关系;

Revista Contabilidade e Financas Pub Date : 2021-05-19 DOI: 10.1590/1808-057X202112270

Caroline da Silva, Crisiane Teixeira da Silva, D. Mucci, Franciele Beck

{"title":"Exploring the interdependence between gainsharing and performance evaluation in a credit union,","authors":"Caroline da Silva, Crisiane Teixeira da Silva, D. Mucci, Franciele Beck","doi":"10.1590/1808-057X202112270","DOIUrl":"https://doi.org/10.1590/1808-057X202112270","url":null,"abstract":"ABSTRACT This study aims to investigate the interdependence between gainsharing and performance evaluation (objective and subjective) in a credit union. There is a recent debate on the interdependence between management control practices, which emerges from the discussion of control packages or systems. This study delves into this discussion by investigating the complementarity between gainsharing (group incentive modality) and performance evaluation in a credit union context, given the need for qualitative empirical studies on this phenomenon. This study is considered relevant because the joint use of management control practices can allow organizations to effectively mitigate control problems such as lack of direction, motivation, and competence. This research promotes insights into management control practices’ operation - given the discussion of complementarity between gainsharing, which is not a prevalent incentive system in most organizations - and objective and subjective performance evaluation. The methodology consists of a qualitative field study in a credit union using data collection, interviews, and access to documents analyzed using an interpretive approach. This research presents evidence on the phenomenon of interdependence between management control practices, adding to the literature by addressing different forms of complementarity between a group incentive system in the form of gainsharing and performance evaluation. It became evident that gainsharing reinforces the objective performance evaluation process by mitigating motivation and direction problems, while the subjective performance evaluation compensates the objective performance evaluation by shifting the focus of the evaluation to the individual's skills.","PeriodicalId":37984,"journal":{"name":"Revista Contabilidade e Financas","volume":null,"pages":null},"PeriodicalIF":0.0,"publicationDate":"2021-05-19","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"67200622","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 0

The impact of alternative assets on the performance of Brazilian private pension funds 另类资产对巴西私人养老基金业绩的影响

Revista Contabilidade e Financas Pub Date : 2021-04-26 DOI: 10.1590/1808-057X202111870

Francis Amim Flores, C. Campani, R. Roquete

{"title":"The impact of alternative assets on the performance of Brazilian private pension funds","authors":"Francis Amim Flores, C. Campani, R. Roquete","doi":"10.1590/1808-057X202111870","DOIUrl":"https://doi.org/10.1590/1808-057X202111870","url":null,"abstract":"ABSTRACT This article assesses the impact of alternative assets on the performance of Brazilian private pension funds. Few studies touch on this topic in Brazil and most only investigate the addition of alternative assets and their impact on the performance. The market of open private pension funds in Brazil has been growing rapidly in recent years and gaining much relevance, especially after the announcement of the reformulation of the Brazilian pension system. In 2018, the Free Benefit Generating Plan (PGBL) and the Free Benefit Generating Life (VGBL) represented more than 94% of total assets in their sector. The Brazilian specially constituted investment funds (FIEs) of PGBL and VGBL private pension plans are characterized by their dependence on fixed income assets. Brazil currently faces an unprecedent low interest rate scenario - which, following a worldwide panorama, seems to be set for a long time - and pension fund managers must search for alternative investments that aggregate both risk premia and diversification. The results of this study may support managers in this little-discussed matter. We compare the performance of FIEs without additional alternative assets versus the portfolio with alternative assets, adding a hedge fund index, an equity mutual funds index, a commodity index, an electric power index, a public utilities index, a gold index, and a real estate index. Several performance measures were used, considering Brazilian regulations and a rebalancing strategy. Our results showed that almost all alternative assets used in this study improved the performance of the Brazilian FIEs of PGBL and VGBL private pension plans, especially the public utilities index and the hedge fund index. Some even improved the portfolio tail risk.","PeriodicalId":37984,"journal":{"name":"Revista Contabilidade e Financas","volume":null,"pages":null},"PeriodicalIF":0.0,"publicationDate":"2021-04-26","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"48431250","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 0

The impact of MILA market-maker facility on volatility of the Colombian stock market MILA做市商机制对哥伦比亚股市波动的影响

Revista Contabilidade e Financas Pub Date : 2021-04-26 DOI: 10.1590/1808-057X202112330

B. Lukanima, Yuli Paola Gómez-Bravo, Luis Javier Sanchez-Barrios

{"title":"The impact of MILA market-maker facility on volatility of the Colombian stock market","authors":"B. Lukanima, Yuli Paola Gómez-Bravo, Luis Javier Sanchez-Barrios","doi":"10.1590/1808-057X202112330","DOIUrl":"https://doi.org/10.1590/1808-057X202112330","url":null,"abstract":"ABSTRACT In 2014, the Colombian Stock Exchange commenced the implementation of its market-maker facility (MMF), aiming at improving market efficiency. This paper examines the impact of the MMF program on three volatility-related aspects: volatility persistence, risk premium, and information asymmetry. This paper provides new insights about the anticipated outcomes of Mercados Integrados Latinoamericanos (MILA) reforms, specifically the MMF on the volatility of the Colombian stock market. This topic has not been fully addressed in the existing literature. This study, therefore, provides useful information for regulators and policy makers, in endeavors to address key issues raised during the World Economic Forum (WEF) of 2016. This paper poses a challenge to policy makers and stock market regulators in Colombia to revisit the reform program and address the factors limiting the effectiveness of market reforms. This paper provides justification for replicating the study to cover other MILA countries due to existing differences in some domestic market policies and structures. The paper employs conditional variance models for measuring volatility persistence, risk premia, and information asymmetry. The models are employed on the COLCAP stock index (Colombia) observed from January 17, 2008 to May 30, 2019. Observations are divided into two samples - pre- and post-MMF. This paper provides evidence of the impacts of the MMF reforms in the Colombian stock market. Specifically, the MMF seems to have an impact on the following aspects: (i) the magnitude in which current returns depend on previous returns has increased; (ii) investment portfolio returns, which are generally low, have declined after the MMF, leading to less risk compensation; (iii) the MMF does not seem to have affected the volatility of market returns and information asymmetry; (iv) volatility persistence increased in magnitude.","PeriodicalId":37984,"journal":{"name":"Revista Contabilidade e Financas","volume":null,"pages":null},"PeriodicalIF":0.0,"publicationDate":"2021-04-26","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"67200219","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 0

Risk management in the public sector: challenges in its adoption by Brazilian federal universities 公共部门的风险管理:巴西联邦大学采用风险管理的挑战

Revista Contabilidade e Financas Pub Date : 2021-04-26 DOI: 10.1590/1808-057X202112300

A. Araújo, Anailson Marcio Gomes

{"title":"Risk management in the public sector: challenges in its adoption by Brazilian federal universities","authors":"A. Araújo, Anailson Marcio Gomes","doi":"10.1590/1808-057X202112300","DOIUrl":"https://doi.org/10.1590/1808-057X202112300","url":null,"abstract":"ABSTRACT The aim of this study was to analyze the perception of the members of the risk committees of federal universities in Brazil regarding the challenges in the adoption of risk management in those institutions. Currently, federal universities are obliged by law to manage their risks. This is a recent process that presents them with considerable challenges, which have scarcely been explored. Studying the challenges in adopting risk management enables federal universities to gradually improve their overall management, with the aim of adopting the process in the best way possible. This study contributes to the professional and academic areas by proposing a set of actions within the operational context of the universities to improve the maturity level of the risk management of those institutions. The procedure adopted was a survey covering 68 federal universities in operation in 2019. The quantitative study was based on a questionnaire sent to the public servants on their governance, risk, and control committees, which had a 73% response rate. The data were analyzed using descriptive statistics and position and dispersion measures. Perception was analyzed regarding the challenges arising from the adoption of risk management, in which a lack of process mapping, the need for staff engagement and training, the emergence of divergences concerning the treatment of risk, and excess demands on staff were highlighted. The evidence indicated that risk management can guarantee and facilitate compliance with laws, regulations, norms, and standards, as well as the identification of external scenarios that can influence the occurrence of events that negatively impact not only the universities but the whole community.","PeriodicalId":37984,"journal":{"name":"Revista Contabilidade e Financas","volume":null,"pages":null},"PeriodicalIF":0.0,"publicationDate":"2021-04-26","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"67200673","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 5

Framing effects of information on investment risk perception 信息对投资风险认知的框架效应

Revista Contabilidade e Financas Pub Date : 2021-04-26 DOI: 10.1590/1808-057X202111290

Beatriz Azevedo Monteiro, Aureliano A. Bressan

{"title":"Framing effects of information on investment risk perception","authors":"Beatriz Azevedo Monteiro, Aureliano A. Bressan","doi":"10.1590/1808-057X202111290","DOIUrl":"https://doi.org/10.1590/1808-057X202111290","url":null,"abstract":"ABSTRACT The aim of this study is to verify whether the framing effects of past performance information affect the risk perception of individuals for fixed-income and variable income fund. We assess whether risk perception varies depending on how information is communicated to investors, considering the relevance of possible framing effects arising from how information is presented in investment funds’ prospectuses and reports. This study is aimed at investors (individual and institutional) and fund industry regulators, highlighting the importance of past performance presentation. This article aims to contribute to the area by investigating how investors are influenced by varying perceptions of risk and return on fixed-income and variable-income assets, depending on information presentation format. The approach used is based on a 2x2 factorial quasi-experiment, in which format (within-subject) and time horizon (between-subjects) effects are tested in a sample of 143 respondents. Our results indicate that, for investment in a variable-income fund, a monthly yield presentation format leads to higher perceived risk, and that a framing emphasizing fund value evolution leads to higher perceived returns. As for investment in a fixed-income fund, the framing that emphasizes fund value leads to both higher perceived risk and higher perceived returns. When comparing the results for the two types of investments, the risk perception was higher for variable-income than for fixed income funds. However, perceived returns were higher for fixed income than for variable-income funds due to the framing effect, although realized returns do not corroborate this perception.","PeriodicalId":37984,"journal":{"name":"Revista Contabilidade e Financas","volume":null,"pages":null},"PeriodicalIF":0.0,"publicationDate":"2021-04-26","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"67199908","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 2