Revista Contabilidade e Financas最新文献_第7页

Behold the best and worst of me: the impostor phenomenon and academic behavior in the business area, 看看我最好和最坏的一面:商业领域的骗子现象和学术行为;

Revista Contabilidade e Financas Pub Date : 2020-05-12 DOI: 10.1590/1808-057x201910370

A. M. Meurer, Flaviano Costa

{"title":"Behold the best and worst of me: the impostor phenomenon and academic behavior in the business area,","authors":"A. M. Meurer, Flaviano Costa","doi":"10.1590/1808-057x201910370","DOIUrl":"https://doi.org/10.1590/1808-057x201910370","url":null,"abstract":"ABSTRACT The aim of this study was to analyze the relationship between the impostor phenomenon (IP) and the academic behavior of stricto sensu postgraduate students in business area courses. Discussing the relationship between psychological variables and student academic behavior is a topic of interest as empirical evidence indicates that these variables affect the environment in which scientific research is developed. It is important to look for elements that help in understanding the IP in order to reduce its impacts on the performance, behavior, and feelings of students. Postgraduate students enrolled in stricto sensu courses may be refusing opportunities to advance in their professional careers and adopting behaviors that are discordant with those desired by universities because they feel like impostors in terms of their abilities. Besides the relevance of the relationships analyzed, this research also uses the Meurer and Costa Scale of Academic Behaviors - Stricto Sensu (MCSAB-SS), which can measure academic behaviors displayed in Brazilian postgraduate courses, enabling the development of new investigations into the topic. The population includes postgraduates enrolled in 2018 in academic master’s, professional master’s, and academic doctorate courses in administration, accounting, and economics, known as the business area. The data collection was operationalized via a survey carried out online, which obtained 1,816 valid participations. The data were analyzed using descriptive statistics, exploratory factor analysis, and the Spearman’s correlation. Higher levels of impostor feelings are positively associated with displays of counterproductive academic behaviors and are mostly negatively associated with academic citizenship behaviors. After identifying the IP in students, actions to minimize these feelings can be implemented, given that postgraduate students with the IP may not be engaging in the activities that permeate stricto sensu, thus damaging the climate and culture of cooperation needed in academia.","PeriodicalId":37984,"journal":{"name":"Revista Contabilidade e Financas","volume":null,"pages":null},"PeriodicalIF":0.0,"publicationDate":"2020-05-12","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"67199598","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: 1

Analysis of the relationship between company characteristics and key audit matters disclosed 公司特征与重点审计事项披露的关系分析

Revista Contabilidade e Financas Pub Date : 2020-05-12 DOI: 10.1590/1808-057x201909040

Catarina Ferreira, A. Morais

{"title":"Analysis of the relationship between company characteristics and key audit matters disclosed","authors":"Catarina Ferreira, A. Morais","doi":"10.1590/1808-057x201909040","DOIUrl":"https://doi.org/10.1590/1808-057x201909040","url":null,"abstract":"The general objective of this study is to analyze whether the particularities of audited companies influence the volume of key audit matters (KAMs). Its specific objectives are to identify the number of KAMs disclosed by Brazilian companies and analyze the main factors associated with their disclosure. The paper aims to contribute to an area of investigation still lacking in studies that analyze the factors affecting KAM disclosure, which makes audit reports more individualized. The study contributes to understanding the main auditing issues in Brazilian companies that auditors consider relevant, by providing evidence on factors associated with their disclosure. This research is relevant for agencies that issue auditing standards and for financial information users. For issuers of auditing standards, the study is relevant because it identifies the factors associated with KAM disclosure, enabling it to be confirmed that the new audit report model has contributed to its destandardization. For financial information users, the study demonstrates that KAM disclosure varies from company to company, thus contributing to greater transparency of the audit report. Data were collected from the Audit Reports and Consolidated Financial Statements of the 447 Brazilian companies listed on the Sao Paulo Securities, Commodities, and Futures Exchange (BM&FBovespa), on December 31st of 2016, and an ordinary least squares (OLS) regression was applied to the defined model. The results show a positive relationship between the number of KAMs disclosed and both the auditor being a Big 4 and the complexity of the audited company. The auditor’s fees and auditor’s opinion being modified show a negative relationship with the number of KAMs. The article is relevant for companies, auditors, and regulatory and supervisory bodies as it identifies company characteristics that influence KAM disclosure and are determinants for the non-standardization of the auditor’s report.","PeriodicalId":37984,"journal":{"name":"Revista Contabilidade e Financas","volume":null,"pages":null},"PeriodicalIF":0.0,"publicationDate":"2020-05-12","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"67199356","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: 27

Leverage and investment opportunities: the effect on high growth firms 杠杆和投资机会:对高增长企业的影响

Revista Contabilidade e Financas Pub Date : 2020-05-12 DOI: 10.1590/1808-057x201909140

Rossimar Laura de Oliveira, E.K. Kayo

{"title":"Leverage and investment opportunities: the effect on high growth firms","authors":"Rossimar Laura de Oliveira, E.K. Kayo","doi":"10.1590/1808-057x201909140","DOIUrl":"https://doi.org/10.1590/1808-057x201909140","url":null,"abstract":"ABSTRACT The objective of this paper is to investigate if the high growth of a firm results in a reduction in its debt levels. This is expected to happen for firms that experience a positive idiosyncratic shock to their growth opportunities, which would affect their cash flow and profitability. Although the relationship between growth opportunities (e.g., Tobin’s Q) and capital structure has already been widely discussed from a conceptual viewpoint, there are still important empirical gaps, particularly due to the endogeneity of the first variable. This paper seeks to minimize these problems by operationalizing the concept of idiosyncratic technological shocks. This issue is relevant because the negative relationship between growth and leverage may indicate that for the most efficient companies there will be a reduction in bankruptcy cost and a reduction in agency costs for the least efficient companies. This paper contributes to the development of studies in the area by demonstrating the inverse relationship between growth and leverage, with the model and the variable that represents the positive shocks experienced by companies. The dynamic panel method enables an analysis of the variation in debt in relation to the variation in value using the first differences and controlling the lagged debt effect. To apply the model, we used data from Brazilian companies, covering 1995 to 2016. The main results show that the greater the ratio between the firm’s growth opportunities and its industry growth opportunities, the lower its leverage indicators. The complementary results suggest that less leveraged firms have this negative relationship to an even stronger degree.","PeriodicalId":37984,"journal":{"name":"Revista Contabilidade e Financas","volume":null,"pages":null},"PeriodicalIF":0.0,"publicationDate":"2020-05-12","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"67199533","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

Incentives for accounting choices in Cash Flows Statements 现金流量表会计选择的动因

Revista Contabilidade e Financas Pub Date : 2020-05-12 DOI: 10.1590/1808-057x201908670

Flávia Fonte de Souza Maciel, B. Salotti, J. O. Imoniana

{"title":"Incentives for accounting choices in Cash Flows Statements","authors":"Flávia Fonte de Souza Maciel, B. Salotti, J. O. Imoniana","doi":"10.1590/1808-057x201908670","DOIUrl":"https://doi.org/10.1590/1808-057x201908670","url":null,"abstract":"ABSTRACT This study sought to identify incentives that influence the accounting choices for classifying interest and dividends received or paid in Cash Flow Statements (CFSs), in the period from 2008 to 2014, in non-financial companies of the Brazilian capital market. The hypotheses refer to the effect of the choice of classification for interest and dividends over cash flow from operations (CFO), according to indebtedness, profitability, size, negative CFO, sector, and auditor. This article seeks to contribute by providing evidence on the accounting choices for classification in CFSs, considering the lack of consensus in the results of studies in the Brazilian capital market and helping to better understand these accounting choices and the incentives behind them. A correct understanding of the information in CFSs is fundamental for them to be useful to their users. The existence of accounting choices for classification in CFSs may directly affect this understanding and, consequently, their usefulness. The results help in better understanding the discretion contained in CFSs, enabling the correct use of their information. They can also generate evidence for regulatory bodies to rethink their accounting rules and for academia to direct future research. Two panel data models were developed, using a sample of 352 companies, 2,290 analyzed reports, and 3,764 data items. The results indicate that companies with a greater level of debt, profitability, and size make their accounting choices in order to report higher CFO in the CFS. The evidence obtained reinforces the international findings and adds new analyses in the Brazilian context, contributing to the development of accounting choice theory.","PeriodicalId":37984,"journal":{"name":"Revista Contabilidade e Financas","volume":null,"pages":null},"PeriodicalIF":0.0,"publicationDate":"2020-05-12","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"67199639","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

Investor sentiment and earnings management in Brazil 巴西的投资者情绪和盈利管理

Revista Contabilidade e Financas Pub Date : 2020-05-12 DOI: 10.1590/1808-057x201909130

Caio Vinicius Santos Santana, Luis Paulo Guimarães dos Santos, César Valentim de Oliveira Carvalho Júnior, Antonio Lopo Martinez

{"title":"Investor sentiment and earnings management in Brazil","authors":"Caio Vinicius Santos Santana, Luis Paulo Guimarães dos Santos, César Valentim de Oliveira Carvalho Júnior, Antonio Lopo Martinez","doi":"10.1590/1808-057x201909130","DOIUrl":"https://doi.org/10.1590/1808-057x201909130","url":null,"abstract":"ABSTRACT This research analyzes whether there is a temporal association between investor sentiment and earnings management in Brazil. Several studies have investigated the determinants of earnings management, such as factors inside or external to companies and regulatory requirements, but few have considered personal factors, such as investor sentiment in Brazil. With this investigation, it was apparent from the findings that accruals quality is affected by investor sentiment. For participants in the Brazilian capital market, this research reinforces the need for a more careful analysis of the results reported by companies, since managers, in response to investor sentiment, may manage earnings to inflate accounting profit through accruals and influence the market’s ability to price shares correctly. It is evident that accounting choices are much more than just financial decisions and are subject to investor sentiments. The effect of investor sentiment should be considered among the determinants of future earnings management. A sample of non-financial Brazilian companies that traded shares on the Brasil, Bolsa, Balcão (B3) exchange from 2010 to 2016 was used. The investor sentiment index was calculated according to the methodology of Baker and Wurgler (2007). For earnings management, the models of Kang and Sivaramakrishnan (1995), Kothari, Leone, and Wasley (2005), and Dechow, Hutton, Kim, and Sloan (2012) were used. The estimates were carried out through regressions for pooled panel data, fixed, and dynamic effects using the system generalized method of moments (GMM) estimator. Discretionary accruals are positively associated with investor sentiment in the Brazilian capital market, in a similar way to markets with greater informational efficiency and notwithstanding the code-law system. Analyzing low and high sentiment periods separately, the findings suggest that managers increase accruals after high sentiment and reduce them after low sentiment.","PeriodicalId":37984,"journal":{"name":"Revista Contabilidade e Financas","volume":null,"pages":null},"PeriodicalIF":0.0,"publicationDate":"2020-05-12","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"67199417","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: 6

International VaR approach: Backtesting for different capital markets 国际VaR方法:不同资本市场的回测

Revista Contabilidade e Financas Pub Date : 2020-05-12 DOI: 10.1590/1808-057x201909160

Marília Cordeiro Pinheiro, B. Fernandes

{"title":"International VaR approach: Backtesting for different capital markets","authors":"Marília Cordeiro Pinheiro, B. Fernandes","doi":"10.1590/1808-057x201909160","DOIUrl":"https://doi.org/10.1590/1808-057x201909160","url":null,"abstract":"ABSTRACT This article aims to compare distinct metrics of the value at risk (VaR), differing from prior studies with respect about compare three asset categories belonging to seven countries. Since VaR inception, several approaches were developed to improve the loss estimation accuracy. However, there is hardly a universal consensus on which approach is the most appropriate, since VaR depends on statistical properties of the target asset and the market in which it is traded. It is relevant to compare the results obtained not only among the assets, but also among the markets in which they are traded, considering their specifics properties to verify if there is any pattern of the methods for the data. Considering the three asset categories, the semiparametric and non-parametric models obtained the lowest rejections number. It was also found that the models tested were not effective for the estimation of exchange rate VaR, which may be due to more relevant risks than the market in it asset price formation. Five models belonging to the parametric, semiparametric, and non-parametric approaches were tested. The analyses were divided in two, aiming to test the VaRs performances in distinct economic cycles; the first analyses considered a 1,000 days estimation window, while the second one considered a 252 days estimation window. To validated the results statistically, were applied the Kupiec and the Christoffersen tests. The results show that the conditional VaR and historical simulation have the best performance to estimate VaR. Comparing the markets, Chinese assets were the ones with the highest average number of tests rejections, which can be a consequence of its closed economy. Finally, it was found that shorter estimation window tends to perform better for high volatility assets, while longer window tends for lower volatility assets.","PeriodicalId":37984,"journal":{"name":"Revista Contabilidade e Financas","volume":null,"pages":null},"PeriodicalIF":0.0,"publicationDate":"2020-05-12","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"67199581","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 actuarial profession and social security in Brazil from the First Republic up to the Vargas Era 从第一共和国到巴尔加斯时代的巴西精算职业与社会保障

Revista Contabilidade e Financas Pub Date : 2020-05-12 DOI: 10.1590/1808-057x201909010

Adelino Martins

{"title":"The actuarial profession and social security in Brazil from the First Republic up to the Vargas Era","authors":"Adelino Martins","doi":"10.1590/1808-057x201909010","DOIUrl":"https://doi.org/10.1590/1808-057x201909010","url":null,"abstract":"ABSTRACT The aim of this paper was to understand the relationships between the consolidation of the actuarial profession and social security policies in Brazil, from the First Republic up to the Vargas Era. In general, there is little literature on the history of the actuarial profession in Brazil. Specifically, there is no study that addresses the relationship between the development of the actuarial profession and the social security policies at the crucial moment of Brazilian social security expansion during the Vargas Era. This paper contributes to filling that gap. From time to time, Brazilian social security reforms are debated. The role of actuaries in this discussion is poorly understood. However, these professionals have historically been essential to social security policies. This article sheds light on that history. The text may broaden the knowledge on the history of the actuarial profession and its relationships with social security policies in Brazil. This is a historical study, built based on primary documentation. Sources were researched relating to the actuarial organizations for social security in Brazil and the actuarial professionals who composed their staff. The references to the professional trajectories of actuaries were crossed and considered in light of the information gathered regarding the actions of the institutions that employed them. The analysis was qualitative and the material was interpreted with the support of the referenced bibliography. This article reveals that the consolidation of the actuarial profession came about based on the participation of engineers-actuaries in the public organizations that supported the varguista social security policies. The paper also contributes to broadening the knowledge on the history of the actuarial profession in Brazil from the First Republic up to the Vargas Era (1930-1945).","PeriodicalId":37984,"journal":{"name":"Revista Contabilidade e Financas","volume":null,"pages":null},"PeriodicalIF":0.0,"publicationDate":"2020-05-12","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"67199262","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 influence of internal and external rewards on people’s behavior regarding tax evasion practices in Brazil 内部和外部奖励对巴西人逃税行为的影响

Revista Contabilidade e Financas Pub Date : 2020-05-12 DOI: 10.1590/1808-057x201908290

Ivone Vieira Pereira, César Augusto Tibúrcio Silva

{"title":"The influence of internal and external rewards on people’s behavior regarding tax evasion practices in Brazil","authors":"Ivone Vieira Pereira, César Augusto Tibúrcio Silva","doi":"10.1590/1808-057x201908290","DOIUrl":"https://doi.org/10.1590/1808-057x201908290","url":null,"abstract":"ABSTRACT This research aimed to identify the factors that influence people’s behavior with regard to tax evasion practices in Brazil based on an analysis of the internal and external rewards. The study analyzes internal and external rewards as a determining factor of tax evasion, unlike other studies that have focused on analyzing economic and social factors. The topic is addressed from a contemporary perspective, based on a behavioral analysis of economic and social factors. The paper contributes with its conceptual refinement and assumptions that may strengthen the foundations for studying the factors that influence tax evasion. The data collection was carried out by means of a quasi-experiment followed by the application of a questionnaire, in the period from November of 2016 to September of 2017, in loco, with 800 data collection instruments in all the geographic regions of the country, 598 of which were validated. Measures were adopted to ensure the content, criteria, and construct validities. The reliability test resulted in a Cronbach’s alpha of 0.63 and the composite reliability was higher than 0.60. The data were analyzed based on descriptive statistics and using the binary logistic regression model. The results of this research illustrate, by means of the logistic regression analysis using a univariate approach, that external rewards - punishment - and internal rewards - self-concept, social norms, fiscal transparency, and cost of compliance - influence people’s dishonest behavior with regards to tax evasion practices in the sample studied. The study analyzes tax evasion based on an interdisciplinary approach, cooperating with the public administration in determining actions that can discourage evasion, by implementing strategies that include behavioral factors relating to the taxpayer.","PeriodicalId":37984,"journal":{"name":"Revista Contabilidade e Financas","volume":null,"pages":null},"PeriodicalIF":0.0,"publicationDate":"2020-05-12","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"67198754","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

Portfolio turnover and performance of equity investment funds in Brazil 巴西股票投资基金的投资组合周转率和业绩

Revista Contabilidade e Financas Pub Date : 2020-05-12 DOI: 10.1590/1808-057x201909420

S. Silva, Robert Aldo Iquiapaza

{"title":"Portfolio turnover and performance of equity investment funds in Brazil","authors":"S. Silva, Robert Aldo Iquiapaza","doi":"10.1590/1808-057x201909420","DOIUrl":"https://doi.org/10.1590/1808-057x201909420","url":null,"abstract":"The purpose of this paper was to analyze the relationships between the portfolio turnover and performance of equity investment funds in Brazil. There are few published studies on the subject, but the previously identified Brazilian studies that have examined making changes to portfolios have been limited to very restricted data samples and have only worked with an ordinary least squares (OLS) model without taking into account the indications of international studies and economic theory itself of the possible endogeneity of turnover, which would make OLS estimation inadequate. The expressive growth of the fund industry in the Brazilian market shows the relevance of the object of research. Two portfolio turnover metrics were analyzed: one based on changes in the monetary values of the assets and another based on changing the weights of the assets in the portfolio. The estimations were performed for fixed effects panel data and then for a two-stage least squares model, using instrumental variables. The funds that make up the sample are those classified as “free shares” in the period from January of 2012 to January of 2018. The results showed that there is a positive relationship between the portfolio turnover and performance of the equity investment funds, showing that managers have been able to take advantage of moments of mispricing in the market and that they carry out more trades in search of higher returns. This research extends the results in the literature as it shows that there is a positive relationship between the turnover and performance of equity investment funds that is independent of the way turnover or performance are measured, which has shown inconclusive results in previous studies. Furthermore, it presents evidence for a more representative and current sample in an emerging market.","PeriodicalId":37984,"journal":{"name":"Revista Contabilidade e Financas","volume":null,"pages":null},"PeriodicalIF":0.0,"publicationDate":"2020-05-12","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"67199657","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: 13

Integrated reporting: the state of the art of Corporate Reporting 综合报告:公司报告的现状

Revista Contabilidade e Financas Pub Date : 2020-05-11 DOI: 10.1590/1808-057x202090330

Chiara Mio

引用次数: 5