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1519-7077, 1808-057x

2022 ◽  
Vol 33 (88) ◽  
pp. 96-111
Author(s):  
Claudio Marcio Pereira da Cunha ◽  
Pedro Paulo Furbino Bretas Barros

ABSTRACT This paper aimed to evaluate the moderation by variables related to incentives for earnings management (indebtedness, profitability, and size) over the effect of the change in standards (accounting or tax) on the book-tax differences (BTD). The end of the Transitional Tax Regime (RTT) enables us to evaluate the symmetry between the divergence and reconvergence of the accounting and tax standards, helping to identify the moderating effect of characteristics such as size, leverage, and profitability over the use of the discretion allowed by the International Financial Reporting Standards (IFRS). Studying the effects of changes in the standards contributes to understanding how they affect accounting information quality, particularly when we observe symmetrical movements of divergence of the accounting and tax standards, such as IFRS adoption, and of reconvergence, with the end of the RTT. The analysis conducted enables us to separate effects of divergence between the tax and accounting standards from the innovations introduced by the IFRS. An understanding of the effect of the standard over accounting information quality contributes to the quality of the work of financial analysts, tax authorities, and regulators. Event studies are conducted to evaluate the effect of IFRS adoption, as well as the end of the RTT, over the BTD (a proxy for earnings management), in cross sections of companies. We use explanatory variables related to incentives to manage book and taxable income (indebtedness, profitability, and size), which could explain the ambiguity of the results in the literature. The article provides evidence that the indebtedness and size of companies influence the effect of IFRS adoption, as well as of the end of the RTT. We observed a negative relationship of indebtedness and size with the impact of changes in standards over differences between book and taxable income (BTD).


2022 ◽  
Vol 33 (88) ◽  
pp. 13-28
Author(s):  
Celliane Ferraz Pazetto ◽  
Ilse Maria Beuren

ABSTRACT The aim of this study was to analyze the influence of the design of management control systems (MCSs) on interorganizational cooperation and the moderating role of companies’ identification with their technology park. The conditions that promote the emergence of interorganizational cooperation are indicated in the literature as an important research gap, as well as the little evidence about how MCS design influences cooperation, especially in relationships based on innovation. MCSs in interorganizational partnerships have been shown to be relevant for the coordination and maintenance of the relationship, and this study reveals that MCSs promotes cooperative behaviors among the companies associated with the technology parks. The interorganizational identification of the companies with their park was moderately present, thus prompting the inclusion of social and relational aspects in interorganizational studies, which remain scarcely explored in the literature. The MCSs of the parks are focused on stimulating the companies’ cooperation, which is one purpose of this partnership. By not confirming the moderating effect of identification, it was verified that this construct drives cooperation in a way that is dissociated from the MCSs. A survey was conducted in organizations associated with Porto Digital and with the São José dos Campos Technology Park, and it had the participation of 187 managers. To analyze the data the partial least squares structural equation modeling technique was applied and the differences between the two parks were further analyzed. The MCSs design and interorganizational identification act as antecedents of the companies’ cooperation with their technology park. On the other hand, the direct and positive effect of the MCS design on cooperation is not moderated by how much these companies identify with the interorganizational relationship established. The paper contributes by identifying ways of fostering cooperation, one of the purposes of interorganizational agreements, as well as by providing evidence in a context that is scarcely addressed in the literature.


2022 ◽  
Vol 33 (88) ◽  
pp. 29-45
Author(s):  
Ana Paula Capuano da Cruz ◽  
Anderson Betti Frare ◽  
Monique Couto Accadrolli ◽  
Vagner Horz

ABSTRACT The aim of this article was to investigate the effects of informal controls on psychological empowerment and job satisfaction. Despite previous studies having analyzed the role of certain management control systems in individual results, such as psychological empowerment and job satisfaction, the evidence on informal controls within this context is inconclusive. Credit union systems play a considerable role in economic growth, regional development, and employability. We therefore explore the perception of directors and managers of business units of one of the biggest cooperative systems regarding the informal controls used. Considering that job satisfaction has a series of implications for organizations (for example in employee loyalty and job performance), it is important to understand its determinants. The literature points to the growing concern among contemporary organizations about informal controls. Various studies focus on understanding the role of these controls and their respective effects on organizational and individual behaviors. From the individual perspective, there is a need to analyze the indirect effects of management controls on individual aspects by means of psychological variables. Thus, this study provides new evidence on informal controls in organizations by exploring the intervening role of psychological empowerment and the (beneficial) effects on job satisfaction. In addition, the study provides a methodological contribution to the national research on management control by adding an analysis based on mixed methods. A survey was applied to directors and managers of business units of one of the biggest credit union systems in Brazil. The data were analyzed using a mixed methods approach: partial least squares structural equation modeling and fuzzy-set qualitative comparative analysis. Informal controls are directly and indirectly associated (via empowerment) with job satisfaction. Moreover, the findings indicate more than one solution for high job satisfaction.


2022 ◽  
Vol 33 (88) ◽  
pp. 167-182
Author(s):  
Jéssica Santos de Paula ◽  
Robert Aldo Iquiapaza

ABSTRACT The aim of this article was to evaluate the effectiveness of investment fund selection techniques from the perspective of Brazilian pension funds. Asset liability management (ALM) and liability driven investment (LDI) strategies are usually adopted to guide pension fund managers in relation to strategic allocation in asset classes that should compose their investment portfolios and to the liquidity needed in each period, but not specifying in which assets to allocate resources from among the infinity of assets available in the financial market. This article contributes to tactical management in the fixed income and stock segments outsourced via funds and demonstrates that adopting simple indicators can increase investment performance. The article broadens the knowledge on pension fund investment decisions and creates confidence in the adoption of the Sharpe ratio as a technique for choosing investment funds. We analyzed the returns obtained by hypothetical portfolios built using the following techniques: (i) the Sharpe ratio; (ii) the alpha of a multifactor model; (iii) data envelopment analysis (DEA) efficiency; and (iv) the different combinations of these techniques. We considered information on 369 funds from 2013 to 2018, adopting 12 temporal windows for choosing and re-evaluating the portfolios. The returns obtained were compared with the mean actuarial goal of the benefits plans administered by the pension funds, by means of the unplanned divergence (UD). When outsourcing pension fund investments in fixed income and stock investment funds it was verified that the Sharpe ratio contributes significantly to pension fund performance, compared with other indicators and techniques or a combination of them.


2021 ◽  
Vol 32 (87) ◽  
pp. 390-397
Author(s):  
Raquel Wille Sarquis ◽  
Ariovaldo dos Santos

ABSTRACT The aim of this paper was to analyze the accounting treatment used by companies in Brazil that have investments in joint operations, in light of the Brazilian and international accounting standards. There are no doubts about the accounting treatment to be used in consolidated statements, but a divergence was identified between the international and Brazilian standards in relation to individual statements. IFRS 11 determines that investors recognize the values of a joint operation proportionally in consolidated and separate statements. However, the Brazilian standard includes a paragraph determining that only joint operations with no legal personality can be measured in individual statements proportionally. CPC 19 foresees different accounting treatments depending on the legal form of the joint operation, omitting the accounting treatment to be used in joint operations with a separate vehicle. The topic of joint operations is relevant, as the accounting treatment used in Brazil can mean our accounting practices do not comply with the international ones. Besides contributing to the literature on joint businesses, this essay indicates to regulatory bodies the need to modify the Brazilian standard so that it fits the international ones. As well as discussing the current standard, an analysis was carried out of companies in Brazil that have joint operations and the respective accounting treatments used to infer how well they fit the international standards. The results indicate that the accounting statements of the companies in Brazil with joint operations, composed through a separate vehicle, do not comply with the international standards. The main contribution of this essay is that it draws the attention of companies, auditors, and regulators to this non-compliance.


2021 ◽  
Vol 32 (87) ◽  
pp. 510-527
Author(s):  
Luciana J. Pestana ◽  
Luís Pereira Gomes ◽  
Cristina Lopes

ABSTRACT The main objective of this study is to empirically test capital structure decisions in Portuguese family-owned businesses under trade-off theory (TOT) and pecking order theory (POT) and attend to the relationships between family/business interaction and agency conflicts. Family-owned businesses are essential for the development of economies, but the financing logic they adopt is not yet adequately clarified by scientific research, especially as they are more exposed to the constraints of markets imperfections. The specific pattern of business ownership may affect the financing decision and the ability to obtain funds externally. This issue is more relevant in economies where family business initiatives and less sophisticated management strategies are expressive. The greater convergence of interests in family businesses and the consequent decrease in agency costs may lead to higher levels of recognized reputation and thus easier access to indebtedness. The empirical study uses static models and dynamic panel models in order to analyze data from 4,952 Portuguese family-owned firms over the period from 2009 to 2016: the TOT following the partial debt adjustment model, and the POT following the model of the impact of the deficit of funds on debt and the model of the relationship between debt and the determinants of financing. The results of the individual tests suggest that Portuguese family-owned businesses adjust debt at the target ratio, albeit influenced by adjustment costs that keep them distant from the optimal, as well as use sources other than debt when a financial deficit occurs. Although the impact of the financial deficit is greater in total debt ratio, the velocity of adjustment to the optimal level is higher in short-term debt. Evidence from a joint test confirms that both theories explain part of the capital structure of Portuguese family-owned businesses.


2021 ◽  
Vol 32 (87) ◽  
pp. 560-576
Author(s):  
Igor Ferreira do Nascimento ◽  
Pedro H. M. Albuquerque

ABSTRACT The objective of this study is to propose a methodology that, using multiple decreases, in addition to classified by actuarial profile and source of social security costs, calculates actuarially fair and balanced rates for unscheduled collective costing benefits from Defined Contribution (DC) pension plans. There are no studies in Brazil about costing rates for benefits not scheduled in pension plans of the DC modality. Any institution that pays collective cost social security benefits must determine an actuarial rate that is not insufficient, generating a financial imbalance in the fund, nor excessive, compromising the participant’s income. This work is the first study on costing rates for collective costing benefits from pension plans with DC modalities. Actuarially fair rates are obtained considering multiple decreases and equalizing the present value of contributions and the present value of pension and disability benefits, classified by actuarial profile and source of social security cost. The specific balance rate is determined for each source of social security costs and is obtained considering the actuarially fair rates for each actuarial profile. The general balance rate is obtained by the marginal contribution of each specific balance rate. The proposed methodology was used to calculate the rates of unscheduled benefits with collective costing in DC modality plans. The proposed methodology estimated that the legal changes, resulting from Constitutional Amendment 103/2019, indirectly increased by more than 4% the general balance rate of the unscheduled benefits of the Supplementary Social Security Foundation of the Federal Public Servant of the Executive Branch of the Federal Government (FUNPRESP-Exe).


2021 ◽  
Vol 32 (87) ◽  
pp. 541-559
Author(s):  
Regina Cardoso Fróes ◽  
Denise Mendes da Silva

ABSTRACT The aim of this article was to analyze academic dishonesty in stricto sensu postgraduate courses in accounting from the perspective of students, teachers, and teaching institutions. There is a gap in the research on academic dishonesty in stricto sensu postgraduate programs in accounting, especially from the analysis perspective of this study, which considers hypothetical situations classified into five categories of dishonesty: fraud/cheating, helping other students, plagiarism, fabricating information, and self-plagiarism/similarities. The study is important due to the role of stricto sensu postgraduate courses not only in training professionals who work or will work in public and private institutions, but also and primarily in training teachers and researchers. Dishonest behaviors can influence the professional lives of those involved, who are predominantly motivated by opportunistic interests that cause damage to the image of professionals in the area and to society. The data were collected through applying two questionnaires adapted from the studies of Braun and Stallworth (2009) and Oliveira and Chacarolli (2013). Mann-Whitney U and Wilcoxon statistical tests were used to analyze the data. The findings indicated the existence of an expectations gap between teachers and students regarding academic dishonesty in stricto sensu postgraduate programs in accounting. The significant differences found in perceptions regarding cases of dishonesty underline the difficulty for students and teachers to evaluate what is dishonest or not in situations of fraud/cheating and helping other students to engage in academic dishonesty. The differences in students’ and teachers’ perceptions may occur due to a lack of clear rules in the teaching institutions. Therefore, universities could undertake actions to address/prevent dishonest behaviors by establishing internal regulations and promoting discussions involving the whole academic community.


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