A carregar...
Publicação
Impacto das variáveis macroeconomicas na gestão de resultados
| Nome: | Descrição: | Tamanho: | Formato: | |
|---|---|---|---|---|
| 1.51 MB | Adobe PDF |
Autores
Orientador(es)
Resumo(s)
Este estudo pretende analisar o impacto das variáveis macroeconómicas e de carácter institucional na gestão de resultados, bem como estudar a influência dos ciclos económicos. A amostra incide sobre empresas cotadas de 14 países da Europa entre o período de 2003 a 2012. Foi utilizado o modelo de Jones (1991) para detectar a prática de gestão de resultados. Os resultados sugerem que o PIB per capita e a taxa de crescimento real do PIB tendem a diminuir a prática de gestão de resultados e que os países de origem legal code law e os países da Europa Oriental apresentam maiores níveis de gestão de resultados. Os resultados sugerem também que apesar das variáveis macroeconómicas terem impacto na gestão de resultados, as características específicas da empresa assumem um maior poder explicativo. Há também evidência de que durante a crise financeira os gestores tendem a gerir os resultados para baixo.
This study aims to analyze the impact of macroeconomic and institutional variables in earnings management and study the influence of economic cycles, since the sample includes different periods of expansions and recessions. This sample is composed by listed companies of 14 European countries between the periods of 2003 to 2012. The Jones model of (1991) was used to detect earnings management practices. The results of the study are in line with the literature. The GDP per capita and the real GDP growth rate tend to decrease earnings management and the countries with legal origin in Code Law as well as Eastern European countries are associated with an increase in earnings management. There is evidence that despite the fact that macroeconomic variables have an impact on earnings management, specific company characteristics have a greater explanatory power. Furthermore, there is evidence that during financial crisis managers tend to manipulate results downwards.
This study aims to analyze the impact of macroeconomic and institutional variables in earnings management and study the influence of economic cycles, since the sample includes different periods of expansions and recessions. This sample is composed by listed companies of 14 European countries between the periods of 2003 to 2012. The Jones model of (1991) was used to detect earnings management practices. The results of the study are in line with the literature. The GDP per capita and the real GDP growth rate tend to decrease earnings management and the countries with legal origin in Code Law as well as Eastern European countries are associated with an increase in earnings management. There is evidence that despite the fact that macroeconomic variables have an impact on earnings management, specific company characteristics have a greater explanatory power. Furthermore, there is evidence that during financial crisis managers tend to manipulate results downwards.
Descrição
Mestrado em Contabilidade, Fiscalidade e Finanças Empresariais
Palavras-chave
Gestão de Resultados Accruals Discricionários Variáveis macroeconómicas Ciclos Económicos Earnings management Discretionary accruals Economic variables Economic Cycles
Contexto Educativo
Citação
Alves, Sara Varela (2014). "Impacto das variáveis macroeconomicas na gestão de resultados". Dissertação de Mestrado, Universidade de Lisboa. Instituto Superior de Economia e Gestão.
Editora
Instituto Superior de Economia e Gestão