This page has only limited features, please log in for full access.
The research aims to identify indicators of representative information on sustainability from the cooperative organizations’ primary stakeholders’ perspective to mitigate information asymmetry. The study develops in seven stages: the primary stakeholders’ selection and training; the evidence survey; the triangulation between stakeholder responses, forming an indicators list; the indicators analysis by specialists; tests for indicators disclosure; and the indicators validation through the disclosure analysis. As a result, a list contains 61 sustainability indicators from the primary stakeholders’ perspective, in four pillars: economic, 20; social, 18; environmental, 13; and cultural, 10. With the cooperative organizations’ websites disclosure analysis, we found that the disclosure policies focus more on information asymmetry mitigating in the pillars: cultural and social, with the environmental and economic being neglected. Therefore, the procedures for disclosing information on sustainability have weaknesses. These policies reduce the primary stakeholders’ reliability about the cooperatives management system respective, limiting the primary stakeholders’ perspective on the cooperative organization value.
Clea Macagnan; Rosane Seibert. Sustainability Indicators: Information Asymmetry Mitigators between Cooperative Organizations and Their Primary Stakeholders. Sustainability 2021, 13, 8217 .
AMA StyleClea Macagnan, Rosane Seibert. Sustainability Indicators: Information Asymmetry Mitigators between Cooperative Organizations and Their Primary Stakeholders. Sustainability. 2021; 13 (15):8217.
Chicago/Turabian StyleClea Macagnan; Rosane Seibert. 2021. "Sustainability Indicators: Information Asymmetry Mitigators between Cooperative Organizations and Their Primary Stakeholders." Sustainability 13, no. 15: 8217.
This study aims to build a list of composite indicators by information that enable the assessment of philanthropic higher education organizations’ (PHEOs) social responsibility based on the interests of their stakeholders. A list of 88 social responsibility indicators was built based on a literature review and stakeholder interest to serve as a basis for the composite indicators. In order to identify and validate the indicators, field research was carried out. Stakeholders from Brazil and the United Kingdom scored them from one (not important) to five (very important) for each indicator identified in the literature review. With 540 valid answers, they suggested inclusions and exclusions according to their interests. Next, a correlation analysis was performed to identify and eliminate redundant indicators. The principal component analysis extracted the composite indicators. The results point to 11 principal components that are configured as composite indicators to evaluate the performance of PHEOs social responsibility considering the stakeholder’s interests, a factor that differentiates this research from the literature revision done. Some of the composite indicators are close to the social responsibility categories reviewed in the literature. However, others show more specific and in-depth interests, especially regarding the stakeholders themselves. These composite indicators help managers establish disclosure policies whenever they are focused on seeking legitimacy in the social context of PHEOs. It also contributes to the advancement of theoretical knowledge, presenting composite indicators, from the stakeholder’s perspective, for the disclosure of social responsibility of PHEOs.
Rosane Seibert; Clea Macagnan; Robert Dixon. Priority Stakeholders’ Perception: Social Responsibility Indicators. Sustainability 2021, 13, 1034 .
AMA StyleRosane Seibert, Clea Macagnan, Robert Dixon. Priority Stakeholders’ Perception: Social Responsibility Indicators. Sustainability. 2021; 13 (3):1034.
Chicago/Turabian StyleRosane Seibert; Clea Macagnan; Robert Dixon. 2021. "Priority Stakeholders’ Perception: Social Responsibility Indicators." Sustainability 13, no. 3: 1034.
Clea Beatriz Macagnan; Rosane Maria Seibert. INDICADORES DE SUSTENTABILIDADE: Mitigadores de assimetria da informação entre organizações cooperativas e seus stakeholder primários. Anais do 59º Congresso da Sociedade Brasileira de Economia, Administração e Sociologia Rural (SOBER) e 6º Encontro Brasileiro de Pesquisadores em Cooperativismo (EBPC) 2021, 1 .
AMA StyleClea Beatriz Macagnan, Rosane Maria Seibert. INDICADORES DE SUSTENTABILIDADE: Mitigadores de assimetria da informação entre organizações cooperativas e seus stakeholder primários. Anais do 59º Congresso da Sociedade Brasileira de Economia, Administração e Sociologia Rural (SOBER) e 6º Encontro Brasileiro de Pesquisadores em Cooperativismo (EBPC). 2021; ():1.
Chicago/Turabian StyleClea Beatriz Macagnan; Rosane Maria Seibert. 2021. "INDICADORES DE SUSTENTABILIDADE: Mitigadores de assimetria da informação entre organizações cooperativas e seus stakeholder primários." Anais do 59º Congresso da Sociedade Brasileira de Economia, Administração e Sociologia Rural (SOBER) e 6º Encontro Brasileiro de Pesquisadores em Cooperativismo (EBPC) , no. : 1.
Cooperative organizations face problems with the opportunistic behavior of their members, such as the “free‐rider problem”. To mitigate this problem, cooperative governance systems develop strategies that aim to maximize the economic gains of cooperative members through investments in technical assistance programs. The purpose of our research is to verify if the participation in the technical assistance program increases the probability of loyalty of dairy cooperative members. To this end, we developed an econometric model with logistic regression, using secondary data extracted from the Programa Gerencial Leite. The program is developed by the cooperative system of the State of Rio Grande do Sul in Brazil and comprises 24 cooperatives. The collected data are longitudinal and include the commercial milk transactions carried out between cooperative members and cooperatives during the years 2014 to 2018, totaling 10,548 cooperative members and 28,765 observations collected and analyzed during this period. Our results indicate that participation in the technical assistance program offered by the cooperative governance increases the probability of loyalty of dairy farmers.
Marcelo Ferreira; Clea Macagnan; Daniel Vancin; Ana Toaldo. Technical assistance: A determinant of cooperative member loyalty. Annals of Public and Cooperative Economics 2020, 1 .
AMA StyleMarcelo Ferreira, Clea Macagnan, Daniel Vancin, Ana Toaldo. Technical assistance: A determinant of cooperative member loyalty. Annals of Public and Cooperative Economics. 2020; ():1.
Chicago/Turabian StyleMarcelo Ferreira; Clea Macagnan; Daniel Vancin; Ana Toaldo. 2020. "Technical assistance: A determinant of cooperative member loyalty." Annals of Public and Cooperative Economics , no. : 1.
Gabriel Voelcker; Clea Beatriz Macagnan; Daniel Vancin. An Analysis of Risk-Taking in Family Firms Listed in B3. Brazilian Business Review 2020, 17, 399 -418.
AMA StyleGabriel Voelcker, Clea Beatriz Macagnan, Daniel Vancin. An Analysis of Risk-Taking in Family Firms Listed in B3. Brazilian Business Review. 2020; 17 (4):399-418.
Chicago/Turabian StyleGabriel Voelcker; Clea Beatriz Macagnan; Daniel Vancin. 2020. "An Analysis of Risk-Taking in Family Firms Listed in B3." Brazilian Business Review 17, no. 4: 399-418.
The issue of conflict of interest and information asymmetry underlies the relationship between management, sponsors, and pension fund participants. The governance system aimed at mitigating the conflict of interest and information asymmetry appears as practices that, even with the cost, could contribute to the effectiveness of the pension fund investments. In this context, the present study aimed to investigate empirically how the extent of Brazilian pension funds governance practices is affected by the nature of the sponsoring entity. With a sample of 208 observations collected manually, representing 104 pension funds, from 2013 and 2017, we analyzed the impact of the sponsorship on the governance of the Brazilian pension funds. We measured governance using a governance index composed of 34 indicators, built on the Brazilian pension fund legislation, guidelines and recommendations issued by public bodies, and the governance literature. The result of this study indicates that, contrary to the initial expectations of the survey, a state-controlled company sponsorship explains a better level of governance. This study contributes to a better understanding of how the adoption of governance practices works, especially with the reported cases of corruption in Brazilian pension funds.
Bruno De Medeiros Teixeira; Clea Beatriz Macagnan; Davi Souza Simon; Daniel Francisco Vancin. Pension funds and governance: The effect of government sponsorship. Corporate Ownership and Control 2020, 17, 142 -151.
AMA StyleBruno De Medeiros Teixeira, Clea Beatriz Macagnan, Davi Souza Simon, Daniel Francisco Vancin. Pension funds and governance: The effect of government sponsorship. Corporate Ownership and Control. 2020; 17 (4):142-151.
Chicago/Turabian StyleBruno De Medeiros Teixeira; Clea Beatriz Macagnan; Davi Souza Simon; Daniel Francisco Vancin. 2020. "Pension funds and governance: The effect of government sponsorship." Corporate Ownership and Control 17, no. 4: 142-151.
This paper analyzes whether the environmental information disclosure level practiced by firms listed on the Brazilian Stock Market affects their profitability and value. The results show some disclosure by most of the sample firms, and significant differences in characteristics between firms that disclose and those that do not disclose environmental information. The paper contributes to the extant social responsibility and environmental disclosure literature by analyzing annual reports and standardized financial statements as a source of evidence, but especially for analyzing the relationship between the level of disclosure of environmental information and its lack of reflection on the profitability and value of firms. Results suggest the importance of both legitimacy theory and proprietary costs theory, each explaining part of the decision process regarding the disclosure of environmental information. Our results also demonstrate that environmental disclosure positively affects the value of publicly traded Brazilian companies.
Angela Patrícia Bovolini Pedron; Clea Beatriz Macagnan; Davi Souza Simon; Daniel Francisco Vancin. Environmental disclosure effects on returns and market value. Environment, Development and Sustainability 2020, 23, 4614 -4633.
AMA StyleAngela Patrícia Bovolini Pedron, Clea Beatriz Macagnan, Davi Souza Simon, Daniel Francisco Vancin. Environmental disclosure effects on returns and market value. Environment, Development and Sustainability. 2020; 23 (3):4614-4633.
Chicago/Turabian StyleAngela Patrícia Bovolini Pedron; Clea Beatriz Macagnan; Davi Souza Simon; Daniel Francisco Vancin. 2020. "Environmental disclosure effects on returns and market value." Environment, Development and Sustainability 23, no. 3: 4614-4633.
Esta pesquisa analisa o grau de transparência dos Tribunais de Contas brasileiros, considerando a disponibilidade dos seus relatórios de atividades nas respectivas páginas eletrônicas na Internet e seu conteúdo. As evidências indicam que 26,5% dos relatórios de atividades não estavam disponibilizados, no período analisado, nas páginas eletrônicas dos Tribunais de Contas brasileiros, indicando a existência de problemas de transparência e/ou de tempestividade na divulgação de tais informações. Em relação aos relatórios disponibilizados, realizou-se a análise de conteúdo e foi observada a ausência de padronização dos mesmos, o que traz prejuízos à comparabilidade entre as informações divulgadas pelos Tribunais de Contas. Os resultados desta pesquisa evidenciam que os Tribunais de Contas brasileiros, em seu conjunto, não cumprem adequadamente a recomendação do sistema de Governança Pública, na medida em que deixam de informar sobre o seu comportamento e as atividades desenvolvidas. Esse cenário leva a inferir a necessidade que têm os Tribunais de Contas brasileiros de aprimoramento de transparência e accountability de acordo com as práticas recomendadas de governança pública.
Clea Beatriz Macagnan; Rodrigo Vargas Laureano; Victorino Piccinini Rosso; Daniel Wartchow. Tribunais de Contas Brasileiros são transparentes? Cuadernos de Contabilidad 2019, 20, 1 -16.
AMA StyleClea Beatriz Macagnan, Rodrigo Vargas Laureano, Victorino Piccinini Rosso, Daniel Wartchow. Tribunais de Contas Brasileiros são transparentes? Cuadernos de Contabilidad. 2019; 20 (50):1-16.
Chicago/Turabian StyleClea Beatriz Macagnan; Rodrigo Vargas Laureano; Victorino Piccinini Rosso; Daniel Wartchow. 2019. "Tribunais de Contas Brasileiros são transparentes?" Cuadernos de Contabilidad 20, no. 50: 1-16.
The objective of this research was identify what social responsibility information is of the stakeholder interest for the disclosure of a philanthropic higher education organization - PHEO. The exploratory inductive study was developed with application of form elaborated with the main social responsibility categories, through meetings with groups the main stakeholders. The content analysis and triangulation of the evidences identified the indicators. The research identified 169 indicators, of these, 69 are news. Some of the new indicators are specific to the organization type under study, confirming the need to observe the specific stakeholders’ interests.
Rosane Maria Seibert; Clea Beatriz Macagnan. Social Responsibility Indicators in the Stakeholders’ Perspective. Journal of Information Systems and Technology Management 2019, 16, 1 -19.
AMA StyleRosane Maria Seibert, Clea Beatriz Macagnan. Social Responsibility Indicators in the Stakeholders’ Perspective. Journal of Information Systems and Technology Management. 2019; 16 (1):1-19.
Chicago/Turabian StyleRosane Maria Seibert; Clea Beatriz Macagnan. 2019. "Social Responsibility Indicators in the Stakeholders’ Perspective." Journal of Information Systems and Technology Management 16, no. 1: 1-19.
This article aimed at the construction of representative indicators of social responsibility information, from the perspective of stakeholders in Brazil and the UK, for the disclosure of Philanthropic Higher Education Organizations (PHEOs) in its Internet websites. Using the grounded theory techniques, we raised evidence that enabled us to identify social responsibility information valued by PHEOs stakeholders in Brazil and the UK. We developed the research in four phases: systematization, evaluation, valuation and econometric validation of the indicators. As a result, we have built a relationship that includes 186 indicators of stakeholder interests. Of these, we identified 84 indicators, subdivided into ten categories of social responsibility, which include the indicators considered most relevant by the experts and stakeholders for the PHEOs disclosure. The article contributes to the formulation of the PHEOs disclosure policies and to the recommendations and regulations of the institutional bodies at the moment in which it demonstrates the information of interest of the stakeholders, as well as those that should be highlighted in the first place because they are considered more relevant. Therefore, from the results of this research, the PHEOs disclosure has the possibility to reflect the interests of external stakeholders, adding value to the transparency and accountability of organizations.
Rosane Maria Seibert; Clea Beatriz Macagnan; Robert Dixon; Davi Souza Simon. Social responsibility indicators: perspective of stakeholders in Brazil and in the UK. International Journal of Disclosure and Governance 2019, 16, 128 -144.
AMA StyleRosane Maria Seibert, Clea Beatriz Macagnan, Robert Dixon, Davi Souza Simon. Social responsibility indicators: perspective of stakeholders in Brazil and in the UK. International Journal of Disclosure and Governance. 2019; 16 (2-3):128-144.
Chicago/Turabian StyleRosane Maria Seibert; Clea Beatriz Macagnan; Robert Dixon; Davi Souza Simon. 2019. "Social responsibility indicators: perspective of stakeholders in Brazil and in the UK." International Journal of Disclosure and Governance 16, no. 2-3: 128-144.
Purpose This paper aims to explain the extent of social responsibility disclosure by Brazilian philanthropic higher education institutions (PHEIs). This paper assumes that there is information asymmetry between these organizations and their stakeholders. Design/methodology/approach The presence of indicators on the organizations’ webpage generated a disclosure index for each PHEI of the sample. Afterwards, this paper performed regression tests, which identified the determinants of PHEIs social responsibility disclosure extent. Findings The results support the legitimacy theory as a theoretical basis for social responsibility disclosure extent. The evidenced indicators and the non-rejected hypotheses, related to complexity, diversification, regional factor, specific event and quality, confirm the concern with transparency and accountability of commitments assumed by the social contract. Research limitations/implications This research is limited to social responsibility disclosure related to the legitimacy theory and the interests of some stakeholders and to Brazilian PHEIs and their webpages. These limitations mean opportunities for future research studies addressing different information disclosure, foundations of other theories, interests of each specific stakeholder or other stakeholders in other communication channels and other countries, which enable comparisons of results. Practical implications The disclosure of extent determinants serve as the basis for the establishment of disclosure and accountability policies for PHEIs. Originality/value The originality of this research consists of analyzing the determinants of disclosure from the information of the stakeholders’ interest. They are able to legitimize organizations, allowing them to remain in the community where they operate.
Rosane Maria Seibert; Clea Beatriz Macagnan. Social responsibility disclosure determinants by philanthropic higher education institutions. Meditari Accountancy Research 2019, 27, 258 -286.
AMA StyleRosane Maria Seibert, Clea Beatriz Macagnan. Social responsibility disclosure determinants by philanthropic higher education institutions. Meditari Accountancy Research. 2019; 27 (2):258-286.
Chicago/Turabian StyleRosane Maria Seibert; Clea Beatriz Macagnan. 2019. "Social responsibility disclosure determinants by philanthropic higher education institutions." Meditari Accountancy Research 27, no. 2: 258-286.
This study examines whether normative pressures from stock market regulators to improve the governance quality of Brazilian listed firms influence the participation and activism of institutional investors. More specifically, we investigate the association between institutional investor’s ownership and firm’s voluntary adhesion to the São Paulo Stock Exchange (B3) differentiated levels of corporate governance quality. Empirical testing is performed on a ten-year (2002–2011) panel data set from a sample of 439 firms listed on the B3. Our findings suggest that firms in differentiated corporate governance levels, that is, with better level of transparency and commitment to monitoring, are more attractive to institutional investors. We interpret this result as evidence supporting the shareholder activism movement, attributed by several scholars to institutional shareholders. Our study contributes to the governance literature on the firm’s response to normative pressures and the ability of internal governance mechanisms to signal lower agency cost to capital market. Our evidence also contributes to the ongoing discussion about the role and influence of institutional investors in the functioning of capital markets, and more specific in emerging market like Brazil.
Eduardo Schiehll; Melissa Gerhard; Clea Beatriz Macagnan. Institutional investors’ response to improved corporate governance: Evidence from the brazilian capital market. Contaduría y Administración 2018, 64, 135 .
AMA StyleEduardo Schiehll, Melissa Gerhard, Clea Beatriz Macagnan. Institutional investors’ response to improved corporate governance: Evidence from the brazilian capital market. Contaduría y Administración. 2018; 64 (4):135.
Chicago/Turabian StyleEduardo Schiehll; Melissa Gerhard; Clea Beatriz Macagnan. 2018. "Institutional investors’ response to improved corporate governance: Evidence from the brazilian capital market." Contaduría y Administración 64, no. 4: 135.
O processo de convergência das normas contábeis aos padrões internacionais dos IFRS no Brasil causou mudanças na mensuração do resultado contábil, ponto de partida para a apuração dos tributos incidentes sobre o lucro. Este estudo teve por objetivo analisar se a adoção das normas formais estabelecidas pelos IFRS impactou na tributação efetiva sobre os lucros de companhias listadas na B3. Com uma amostra de 44 empresas, período de 2007 a 2014, totalizaram 352 observações. Desenvolveu-se analise de regressão linear múltipla, com dados em painel, com efeitos fixos. Os dados analisados foram coletados no banco de dados Thomson One Banker. Os resultados desta pesquisa permitem inferir que o tamanho e a rentabilidade do ativo (ROA) estão negativamente relacionadas a alíquota efetiva de tributação: effective tax rate (ETR). O que sugere que quanto maior é a companhia, maior sua capacidade de planejamento fiscal e de adoção às práticas contábeis que reduzem a sua ETR. Em contrapartida, a intensidade de estoque apresentou relação positiva com a ETR. A adoção dos IFRS demonstrou uma relação negativa e significativa com a ETR. Estes resultados sugerem que, considerando a amostra analisada, a adoção dos IFRS contribuiu para uma diminuição na tributação efetiva no Brasil.
Clari Schuh; Davi Simon; Clea Beatriz Macagnan; Mariana Lanner De Araujo Simon. A ADOÇÃO DOS IFRS E A EVASÃO FISCAL DAS EMPRESAS BRASILEIRAS. Revista GESTO: Revista de Gestão Estratégica de Organizações 2018, 6, 113 -128.
AMA StyleClari Schuh, Davi Simon, Clea Beatriz Macagnan, Mariana Lanner De Araujo Simon. A ADOÇÃO DOS IFRS E A EVASÃO FISCAL DAS EMPRESAS BRASILEIRAS. Revista GESTO: Revista de Gestão Estratégica de Organizações. 2018; 6 (2):113-128.
Chicago/Turabian StyleClari Schuh; Davi Simon; Clea Beatriz Macagnan; Mariana Lanner De Araujo Simon. 2018. "A ADOÇÃO DOS IFRS E A EVASÃO FISCAL DAS EMPRESAS BRASILEIRAS." Revista GESTO: Revista de Gestão Estratégica de Organizações 6, no. 2: 113-128.
Rodrigo Vargas Laureano; Daniel Wartchow; Victorino Piccinini Rosso; Clea Beatriz Macagnan. DIVERGÊNCIAS ENTRE O POSICIONAMENTO DOS AUDITORES PÚBLICOS E DOS CONSELHEIROS DO TCE-RS NA ANÁLISE DA LRF. Advances in Scientific and Applied Accounting 2017, 10, 91 -109.
AMA StyleRodrigo Vargas Laureano, Daniel Wartchow, Victorino Piccinini Rosso, Clea Beatriz Macagnan. DIVERGÊNCIAS ENTRE O POSICIONAMENTO DOS AUDITORES PÚBLICOS E DOS CONSELHEIROS DO TCE-RS NA ANÁLISE DA LRF. Advances in Scientific and Applied Accounting. 2017; 10 (1):91-109.
Chicago/Turabian StyleRodrigo Vargas Laureano; Daniel Wartchow; Victorino Piccinini Rosso; Clea Beatriz Macagnan. 2017. "DIVERGÊNCIAS ENTRE O POSICIONAMENTO DOS AUDITORES PÚBLICOS E DOS CONSELHEIROS DO TCE-RS NA ANÁLISE DA LRF." Advances in Scientific and Applied Accounting 10, no. 1: 91-109.
Transparency in government actions strengthens the relationship between government and society. The goal of the present study was to ascertain the level of transparency of administrative information in the south of Brazil. This descriptive study, which employed statistical methodology, found a correlation between the presence of examined indicators and municipal gross domestic product (GDP). It also revealed that population; GDP and tax revenues are variables that, if jointly analyzed, can be used to aggregate municipalities that display similar behavior in terms of transparency.
Alexandre Costa Quintana; Flávia Verônica Silva Jacques; Clea Beatriz Macagnan. Transparency in Municipalities in the Southern Region of Brazil. Journal of Public Administration and Governance 2016, 6, 12 .
AMA StyleAlexandre Costa Quintana, Flávia Verônica Silva Jacques, Clea Beatriz Macagnan. Transparency in Municipalities in the Southern Region of Brazil. Journal of Public Administration and Governance. 2016; 6 (3):12.
Chicago/Turabian StyleAlexandre Costa Quintana; Flávia Verônica Silva Jacques; Clea Beatriz Macagnan. 2016. "Transparency in Municipalities in the Southern Region of Brazil." Journal of Public Administration and Governance 6, no. 3: 12.
Transparency in government actions strengthens the relationship between government and society. The goal of the present study was to ascertain the level of transparency of administrative information in the south of Brazil. This descriptive study, which employed statistical methodology, found a correlation between the presence of examined indicators and municipal gross domestic product (GDP). It also revealed that population, GDP and tax revenues are variables that, if jointly analysed, can be used to aggregate municipalities that display similar behaviour in terms of transparency.
Clea Beatriz Macagnan; Fllvia Verrnica Jacques; Alexandre Costa Quintana; Flavia Veronica Jacques. Transparency in Municipalities in the Southern Region of Brazil. SSRN Electronic Journal 2016, 1 .
AMA StyleClea Beatriz Macagnan, Fllvia Verrnica Jacques, Alexandre Costa Quintana, Flavia Veronica Jacques. Transparency in Municipalities in the Southern Region of Brazil. SSRN Electronic Journal. 2016; ():1.
Chicago/Turabian StyleClea Beatriz Macagnan; Fllvia Verrnica Jacques; Alexandre Costa Quintana; Flavia Veronica Jacques. 2016. "Transparency in Municipalities in the Southern Region of Brazil." SSRN Electronic Journal , no. : 1.
Purpose – The interest paid on own capital can benefit companies in the Brazilian capital market as it can be considered a business expense and is, therefore, deductible as a corporate tax. The purpose of this paper is to assess the impact of interest on equity (IOE) on capital structure decisions.Design/methodology/approach – The initial sample consisted of 524 publicly traded companies from different industries in the Brazilian capital market that were listed on Bovespa. Companies in the finance, insurance and funds industries were excluded from the sample due to the unique features of these financial intermediaries. Some companies in the initial sample were excluded due to a lack of published data, inactivity during the sample period, etc. Thus, the paper excluded those companies that did not have valid observations or failed to publish them. The final sample included 370 companies and covered the nine-year period from 1998 through 2006.Findings – To this end, the authors identified the main determinants of capital structure and analyzed, through panel data, the relationship of IOE in addition to other determinants of capital structure, such as size, profitability, investment opportunities, risk, sales growth, real interest rate and real exchange rate, in corporate debt. The novel contribution of this study is the inclusion and analysis of the IOE in studies on the determination of capital structure of Brazilian companies. A new capital structure scenario was created when Law No. 9.249/95 required changes in legislation, ceasing the restatement of balance sheets and allowing companies to compensate their stockholders through IOE. Before this change, companies could only benefit from the tax benefits of debt, using debt capital. Now, they can also benefit from the use of equity because, by requiting equity through the IOE, deductions of income tax and social contributions on net income are allowed by tax law because the IOE may be considered a financial expense.Originality/value – The authors were not able to find any other publication of a similar study in a review of the extant empirical literature.
Jooo Zani; Clea Beatriz Macagnan; Marcio Telles Portal; João Zani; Eduardo Leites. Interest on Equity and Capital Structure in the Brazilian Context. SSRN Electronic Journal 2016, 1 .
AMA StyleJooo Zani, Clea Beatriz Macagnan, Marcio Telles Portal, João Zani, Eduardo Leites. Interest on Equity and Capital Structure in the Brazilian Context. SSRN Electronic Journal. 2016; ():1.
Chicago/Turabian StyleJooo Zani; Clea Beatriz Macagnan; Marcio Telles Portal; João Zani; Eduardo Leites. 2016. "Interest on Equity and Capital Structure in the Brazilian Context." SSRN Electronic Journal , no. : 1.
Resumo O tema governança vem difundindo-se no âmbito organizacional como forma estratégica de garantir a competitividade, sustentabilidade e a perenidade das organizações. As boas práticas de governança são fundamentadas em princípios, como a transparência, a responsabilidade organizacional e a prestação de contas, e não se restringem as sociedades anônimas. A obediência aos princípios da governança contribuiria para a legitimação das organizações pelos seus públicos de interesse. Neste contexto, o objetivo do estudo foi identificar quais são as informações disponibilizadas pelas Organizações da Sociedade Civil de Interesse Público (OSCIPs) do Estado do Rio Grande do Sul como prestação de contas aos seus públicos de interesse, em seus sítios de internet. A amostra foi de 89 organizações. A abordagem metodológica utilizada foi qualitativa e a coleta de evidências foi bibliográfica, documental e observação não participante nos sites das OSCIPs. As evidencias foram tratadas através de estatística descritiva e análise de conteúdo. Os resultados sugerem que as informações evidenciadas são insuficientes para se caracterizar como adequada a prestação de contas aos seus stakeholders, o que demonstra a falta de transparência e a necessidade de melhoria do seu sistema de governança, principalmente no atendimento aos princípios de transparência e de prestação de contas. A pesquisa limitou-se as informações disponíveis nos sítios de internet, sem acesso as evidências restritas às dependências das organizações e seus membros o que remete a necessidade de outras pesquisas sobre o tema.
Raiziane Cássia F. Da Silva; Rosane Maria Seibert; Berenice B. Rossner Wbatuba; Clea Beatriz Macagnan. AS BOAS PRÁTICAS DE GOVERNANÇA: UM ESTUDO SOBRE A TRANSPARÊNCIA E PRESTAÇÃO DE CONTAS NAS OSCIPS DO RS. Revista de Gestão Social e Ambiental 2016, 9, 24 .
AMA StyleRaiziane Cássia F. Da Silva, Rosane Maria Seibert, Berenice B. Rossner Wbatuba, Clea Beatriz Macagnan. AS BOAS PRÁTICAS DE GOVERNANÇA: UM ESTUDO SOBRE A TRANSPARÊNCIA E PRESTAÇÃO DE CONTAS NAS OSCIPS DO RS. Revista de Gestão Social e Ambiental. 2016; 9 (3):24.
Chicago/Turabian StyleRaiziane Cássia F. Da Silva; Rosane Maria Seibert; Berenice B. Rossner Wbatuba; Clea Beatriz Macagnan. 2016. "AS BOAS PRÁTICAS DE GOVERNANÇA: UM ESTUDO SOBRE A TRANSPARÊNCIA E PRESTAÇÃO DE CONTAS NAS OSCIPS DO RS." Revista de Gestão Social e Ambiental 9, no. 3: 24.
In this chapter examines the perception of accountants in the State of Mato Grosso, from Brazil, on continuing professional education on IFRS applied to small and medium enterprises - SMEs. After the introduction, where we present this chapter, we contextualize the theory of human resources, with theoretical assumptions. In the next item, we revise of Brazilian accounting standards for SMEs and their regulatory environment. The literature review is completed with the item that addresses content on continuing education. The next step we present the methodology and the date analysis. To collect the evidence, we used questionnaires to accountants responsible for active financial services companies in the State of Mato Grosso. With a sample of 302 responses from a population of 1597 organizations, a descriptive analysis using frequency distribution, measures of central tendency and variability was performed. It is concluded that the perception of accountants indicates that they recognize the possibility of improvement in job performance, as well as greater employability and income. They still set regular level of difficulty in the submission of financial statements in accordance with the new standard: IFRS for SMEs. The study indicates the need to offer continuing education, pointing the Regional Accounting Council and universities as important promoters in the process of qualification of accounting professionals.
Márcio Iris De Morais; Clea Beatriz Macagnan. IFRS for SMEs. Teacher Education 2016, 1189 -1211.
AMA StyleMárcio Iris De Morais, Clea Beatriz Macagnan. IFRS for SMEs. Teacher Education. 2016; ():1189-1211.
Chicago/Turabian StyleMárcio Iris De Morais; Clea Beatriz Macagnan. 2016. "IFRS for SMEs." Teacher Education , no. : 1189-1211.
ResumenEl estudio analiza las características que motivan la revelación voluntaria sobre intangibles representativos de capital estructural organizativo de las organizaciones bancarias inscritas en las bolsas de valores: de Brasil y España. La contabilidad tradicional no se acerca al valor real de las organizaciones, obtenido por su capital intangible. Para mitigar la marcada diferencia entre el valor contable y el precio de mercado de estas organizaciones, ha surgido la tendencia a revelar informaciones voluntarias sobre sus recursos intangibles. La asimetría de la información, resultante de la no contabilización de los recursos estructurales organizativos, es estudiada por 2 perspectivas teóricas. La teoría de la agencia sugiere que la revelación voluntaria de informaciones reduce los costes de agencia. La teoría del coste del propietario presupone que revelar informaciones genera costes adicionales, así como la posibilidad de pérdida de sus ventajas competitivas. Esta investigación examina 174 informes anuales de 29 bancos, del 2006 al 2011. Se utilizó la técnica de regresión lineal múltiple, a través del método de mínimos cuadrados con datos de panel. Los resultados confirman las hipótesis de que los bancos de mayor tamaño, los más rentables y los más antiguos, están más motivados a revelar voluntariamente informaciones representativas de capital estructural organizativo.AbstractThe study analyzes the characteristics that motivate the voluntary disclosure on intangible representing organizational structural capital of the banking organizations registered on stock exchanges: Brazil and Spain. Traditional accounting is not approaching the real value of the organizations, obtained by its intangible capital. To mitigate the marked difference between the book value and the market price of these organizations, the trend to voluntary disclosures on their intangible resources has emerged. The asymmetry of information, resulting from not accounting for the organizational structural resources is studied by 2 theoretical perspectives. Agency theory suggests that the voluntary disclosure of information reduces agency costs. The theory of the cost of the owner assumes that reveal information generates additional costs, as well as the possibility of loss of its competitive advantages. This research examines 174 annual reports of 29 banks, from 2006 to 2011. The technique of multiple linear regressions using the method of least squares with panel data was used. The test results confirm the hypothesis that large banks, the most profitable and the oldest are more motivated to voluntarily disclose information representing organizational structural capital
Edila Eudemia Herrera Rodríguez; Clea Beatriz Macagnan. Revelación de informaciones sobre capital estructural organizativo de los bancos en Brasil y España. Contaduría y Administración 2016, 61, 4 -25.
AMA StyleEdila Eudemia Herrera Rodríguez, Clea Beatriz Macagnan. Revelación de informaciones sobre capital estructural organizativo de los bancos en Brasil y España. Contaduría y Administración. 2016; 61 (1):4-25.
Chicago/Turabian StyleEdila Eudemia Herrera Rodríguez; Clea Beatriz Macagnan. 2016. "Revelación de informaciones sobre capital estructural organizativo de los bancos en Brasil y España." Contaduría y Administración 61, no. 1: 4-25.