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Impostos diferidos e gestão de resultados
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Ao longo da literatura são vários os estudos que investigam as causas e as consequências da gestão de resultados, no entanto, os estudos que relacionam os impostos diferidos com a gestão de resultados são escassos. Neste seguimento, o presente estudo pretende investigar a relação entre os impostos diferidos e a gestão de resultados, ao nível do reporte de decréscimo de resultados e de prejuízos. Para o efeito, com base nos estudos de Burgstahler e Dichev (1997), Phillips, Pincus e Rego (2003) e Noor, Mastuki e Aziz (2007) foram construídos dois modelos com amostras específicas. Para modelo (1), relativo aos decréscimos de resultados, utilizou-se uma amostra composta por 8.535 observações referentes a 2.000 empresas de 2007 a 2019 e para o modelo (2), relativo aos prejuízos, utilizou-se 5.949 observações referentes a 1.811 empresas de 2006 a 2019, ambas com empresas europeias pertencentes aos primeiros 15 países da União Europeia. Os resultados obtidos sugerem que as empresas europeias utilizam os impostos diferidos para evitar reportar prejuízos, mas não para evitar o reporte de decréscimos de resultados. De modo a complementar este estudo e a avaliar a robustez dos resultados obtidos foram realizadas duas análises. Na primeira análise retirou-se as empresas do Reino Unido (país com maior representatividade nas amostras) e na segunda análise, retirou-se as empresas do setor K - "Industrial" (setor com maior representatividade nas amostras). No entanto, os resultados obtidos foram semelhantes aos resultados obtidos nos modelos principais.
There are several studies that investigate the causes and consequences of earnings management in the literature, however, studies that relate deferred taxes to earnings management are scarce. In this context, the present study intends to investigate the relationship between deferred taxes and earnings management, in terms of reporting earnings decline and losses. For this purpose, based on the studies of Burgstahler and Dichev (1997), Phillips, Pincus and Rego (2003) and Noor, Mastuki and Aziz (2007), two models were built with specific samples. In the model (1), it was used a sample composed of 8,535 observations referring to 2,000 companies from 2007 to 2019 to study earnings decline and in the model (2), it was used a sample composed by 5,949 observations referring to 1,811 companies from 2006 to 2019 to study losses, both with European companies belonging to the first 15 countries of the European Union. The results obtained suggest that European companies use deferred taxes to avoid reporting losses, but not to avoid reporting earnings decline. In order to complement this study and assess the robustness of the results obtained, two analyses were performed. In the first analysis, companies from the United Kingdom (country with greater representativeness in the samples) were removed and in the second analysis, the companies of sector K - "Industrial" (sector with greater representativeness in the samples) were removed. However, the results obtained were similar to the results obtained in the main models.
There are several studies that investigate the causes and consequences of earnings management in the literature, however, studies that relate deferred taxes to earnings management are scarce. In this context, the present study intends to investigate the relationship between deferred taxes and earnings management, in terms of reporting earnings decline and losses. For this purpose, based on the studies of Burgstahler and Dichev (1997), Phillips, Pincus and Rego (2003) and Noor, Mastuki and Aziz (2007), two models were built with specific samples. In the model (1), it was used a sample composed of 8,535 observations referring to 2,000 companies from 2007 to 2019 to study earnings decline and in the model (2), it was used a sample composed by 5,949 observations referring to 1,811 companies from 2006 to 2019 to study losses, both with European companies belonging to the first 15 countries of the European Union. The results obtained suggest that European companies use deferred taxes to avoid reporting losses, but not to avoid reporting earnings decline. In order to complement this study and assess the robustness of the results obtained, two analyses were performed. In the first analysis, companies from the United Kingdom (country with greater representativeness in the samples) were removed and in the second analysis, the companies of sector K - "Industrial" (sector with greater representativeness in the samples) were removed. However, the results obtained were similar to the results obtained in the main models.
Descrição
Mestrado em Contabilidade, Fiscalidade e Finanças Empresariais
Palavras-chave
impostos diferidos gestão de resultados accruals deferred taxes Earnings Management accruals
Contexto Educativo
Citação
Ribeiro, Ana Rafaela Martinho (2020). "Impostos diferidos e gestão de resultados". Dissertação de Mestrado. Universidade de Lisboa. Instituto Superior de Economia e Gestão.
Editora
Instituto Superior de Economia e Gestão