A carregar...
Publicação
Corporate social responsibility and earnings management : european evidence
| Nome: | Descrição: | Tamanho: | Formato: | |
|---|---|---|---|---|
| 561.78 KB | Adobe PDF |
Autores
Orientador(es)
Resumo(s)
O presente estudo analisa a relação entre Gestão de Resultados e Responsabilidade Social Empresarial. Para além disso, e com base em estudos anteriores, é investigado se a orientação para responsabilidade social de uma empresa condiciona o trade-off entre gestão de resultados por accruals e gestão de atividades reais. Assim, é considerada uma amostra de 308 empresas cotadas da União Europeia para o período de 2013 a 2019. Como medida de accruals discricionários é usado o modelo de Jones modificado (1991), como descrito por Dechow, Sloan & Sweeney (1995). Como medida de gestão de atividades reais é usada a medida combinada com três componentes como descrita por Roychowdhury (2006). Finalmente, como medida de responsabilidade social empresarial recorre-se ao ESG score divulgado na base de dados Thomson Reuters Eikon. Os resultados sugerem uma relação negativa entre responsabilidade social empresarial e gestão de resultados no geral. A análise da relação de trade-off entre estratégias de gestão de resultados sugere que as empresas praticam menos gestão de atividades reais. Isto traz contributos adicionais à literatura por considerar que a orientação para responsabilidade social de uma empresa modera o uso das estratégias de gestão de resultados. Os resultados são robustos depois de considerar uma medida diferente para gestão de atividades reais e depois de alterar a composição da amostra. Como tal, a evidência é consistente com a ideia de que as atividades consideradas socialmente responsáveis estão associadas a comportamentos éticos por parte das empresas e não são uma tentativa de ocultar práticas menos corretas.
The present study examines the association between Earnings Management and Corporate Social Responsibility. Moreover, and relying on previous studies, it is investigated if the corporate social responsibility orientation of a firm moderates the trade-off between accruals and real earnings management. Thus, it is considered a sample of 308 listed companies from the European Union between 2013 and 2019. As a measure of discretionary accruals, it is used the modified Jones model (1991) as developed by Dechow, Sloan & Sweeney (1995). As a proxy for real earnings management, Roychowdhury's (2006) combined measure with three components is used. Corporate social responsibility is computed using the ESG Score from the Thomson Reuters Eikon Database. The results suggest a negative relationship between corporate social responsibility and earnings management in general. By analysing the trade-off between both earnings management strategies, results suggest that socially responsible firms engage less in real activities management. This study contributes to the literature by considering that the corporate social responsibility orientation of a firm moderates the use of accruals and real earnings management. Results are robust after considering a different measure of real earnings management and after altering sample composition. Therefore, the evidence is consistent with the idea that socially responsible activities are associated with ethical behaviors and are not used as a concealing instrument to less honorable practices.
The present study examines the association between Earnings Management and Corporate Social Responsibility. Moreover, and relying on previous studies, it is investigated if the corporate social responsibility orientation of a firm moderates the trade-off between accruals and real earnings management. Thus, it is considered a sample of 308 listed companies from the European Union between 2013 and 2019. As a measure of discretionary accruals, it is used the modified Jones model (1991) as developed by Dechow, Sloan & Sweeney (1995). As a proxy for real earnings management, Roychowdhury's (2006) combined measure with three components is used. Corporate social responsibility is computed using the ESG Score from the Thomson Reuters Eikon Database. The results suggest a negative relationship between corporate social responsibility and earnings management in general. By analysing the trade-off between both earnings management strategies, results suggest that socially responsible firms engage less in real activities management. This study contributes to the literature by considering that the corporate social responsibility orientation of a firm moderates the use of accruals and real earnings management. Results are robust after considering a different measure of real earnings management and after altering sample composition. Therefore, the evidence is consistent with the idea that socially responsible activities are associated with ethical behaviors and are not used as a concealing instrument to less honorable practices.
Descrição
Mestrado em Contabilidade, Fiscalidade e Finanças Empresariais
Palavras-chave
gestão de resultados responsabilidade social empresarial accruals discricionários gestão de atividades reais earnings management corporate social responsibility accruals earnings management real earnings
Contexto Educativo
Citação
Sousa, Maria Verónica Faria de (2020). "Corporate social responsibility and earnings management : european evidence". Dissertação de Mestrado. Universidade de Lisboa. Instituto Superior de Economia e Gestão.
Editora
Instituto Superior de Economia e Gestão