Advances in Scientific and Applied Accounting <p><span class="Y2IQFc" lang="en">Welcome to<strong> ASAA Advances in Scientific and Applied Accounting (ASAA Journal)</strong>, the journal of AnpCONT - National Association of Graduate Programs in Accounting Sciences (Brazil).</span></p> AnpCONT en-US Advances in Scientific and Applied Accounting 1983-8611 <p style="text-align: justify;">Copyright for articles published in the <strong>ASAA Journal </strong>is held by the author, with first publication rights to the journal. By virtue of appearing in this publicly accessible journal, the articles are free to use, with their own attributions, in educational and non-commercial applications. The <strong>ASAA Journal</strong> will allow the use of published works for non-commercial purposes, including the right to submit the work to publicly accessible databases. Published articles are the authors' full and exclusive responsibility. There are no submission/publishing charges or fees for processing articles (APC).</p> DISTRIBUTION OF DIVIDENDS AND VALUE OF COMPANIES LISTED ON B3 <p><strong>Objective</strong>: Based on the trend of international stock markets, it is suggested that companies that do not distribute dividends are better valued by the market than companies that make a small distribution of profits, while companies with larger distributions of dividends are better valued. This scenario in the literature has been described as Relation in “J-Shaped”. In possession of this market aspect, this study aimed to identify whether there is the existence of the "J-Shaped" in the relationship between dividends and company value in the Brazilian capital market.</p> <p><strong>Method</strong>: A sample of 3,556 observations of 271 companies, in the period 1996 to 2018, was divided into non-dividend-paying companies (DIV0) and dividend-paying companies, the latter being divided into five groups classified according to the dividend distributed (DIV1 to DIV5). The analysis of the format of the relationship was carried out through the medians of the groups and statistical tests to establish the statistical relationship between the distributed dividend and the firm value (Tobin's q).</p> <p><strong>Results: </strong>It was found that the Brazilian market does not have the "J-Shaped". Thus, companies that do not pay dividends had worse values than those that distributed dividends to shareholders - with better valuations than those companies that distributed greater volumes of profits to stockholders. Additionally, the relevance of dividends in the value of companies in the Brazilian market was confirmed.</p> <p><strong>Contributions: </strong>The work advances in the discussion of dividends and firm´s value in Brazil by proposing a new statistical approach to the subject, categorizing companies by their distinct profit distribution policies and highlighting the pro-dividend clientele in the Brazilian market.</p> Gabriel de Amorim Nilton César Lima Antônio Carlos Brunozi Júnior Copyright (c) 2021 Advances in Scientific and Applied Accounting 2021-12-05 2021-12-05 003 018/019-034 10.14392/asaa.2021140301 BUDGETARY, POLITICAL AND SOCIOECONOMIC DETERMINANTS OF POLITICAL-PARTY SUCCESSION: EVIDENCE OF ELECTORAL BEHAVIOR IN BRAZILIAN MUNICIPALITIES <p><strong>Purpose:</strong> despite actions to intensify governance, transparency and accountability, there are still tendencies for government officials to manipulate fiscal and budget results and/or use political and socioeconomic information and direct their actions to achieve their own benefit, especially aiming political-party succession. Thus, the aim of this paper was to evaluate the influence of budgetary, political and socioeconomic aspects in the re-election of managers and in the reappointment of parties in Brazilian municipalities.</p> <p><strong>Method</strong>: data were collected from Brazilian municipalities with a population above 100,000 inhabitants for the electoral cycles of 2004, 2008, 2012 and 2016. Data were submitted to Logistic Regression with panel data.</p> <p><strong>Results</strong>: the probability of political-party succession is influenced by factors related to voters that reward those mayors who make more municipal investments, improving the quality of life of the population, which enable the minimization of inequalities through the transfer direct income and that have greater chances of establishing cooperation between the other spheres of government through party alignment. <strong>Contribution</strong>: the theoretical contribution is that informational asymmetry, public choices that involve the influence of human and institutional elements, and the voters' perception of social justice, are factors together that explain the political-party succession. As a practical contribution, it is argued that public administrators can use the state apparatus for their own benefits - leading to influence the voter's - which does not exercise social participation and/or does not use public and available information for adequate knowledge of the municipal management and governance.</p> Tiago Carneiro da Rocha Juliana Maria de Araújo Antônio Carlos Brunozi Júnior Copyright (c) 2021 Tiago Carneiro da Rocha, Juliana Maria de Araújo, Antônio Carlos Brunozi Júnior 2021-12-05 2021-12-05 035 052/053-069 10.14392/asaa.2021140302 BEYOND THE FINANCIAL AUDIT: FACTORS THAT CAN INFLUENCE THE PRESENCE OF LARGEST ACCOUNTING FIRMS IN THE ASSURANCE MARKET OF SUSTAINABILITY REPORTS IN BRAZIL <p><strong>Purpose: </strong>The purpose of this paper is to analyze the factors that can influence the presence of largest accounting firms in the assurance market of Sustainability Reports in Brazil.</p> <p><strong>Method: </strong>The sample includes 47 public companies that assured their sustainability reporting from the period 2012-2018. Data were analyzed using the statistical techniques Anacor, HOMALS and hierarchical logistic regression for panel data.</p> <p><strong>Findings:</strong> The evidence supports that the provision of audit and sustainability assurance services, as well as mimetic isomorphism are factors that positively affect the entry of largest accounting firms in the assurance market of sustainability reports in Brazil. These results suggest a potential competitive advantage for the largest accounting firms over other providers in this emerging market.</p> <p><strong>Research implications: </strong>This work has important practical implications for professionals and standardization bodies in the accounting area, because the notarization of accounting professionals in the assurance market of sustainability reports should promote interest in developing institutional support for this practice.</p> Gabriela Borges Silveira Hans Michael Van Bellen Alex Mussoi Ribeiro Copyright (c) 2021 Gabriela Borges Silveira, Hans Michael Van Bellen, Alex Mussoi Ribeiro 2021-12-05 2021-12-05 070 084/085-098 10.14392/asaa.2021140303 MODERATING EFFECT OF OPERATIONAL LEVERAGE ON THE RELATIONSHIP BETWEEN CORPORATE INVESTMENT AND FIRM PROFITABILITY <p><strong>Objective: </strong>the aim was analyze how the operational leverage moderates the relationship between corporate investment and profitability of companies listed on brazilian stock exchange.</p> <p><strong>Method: </strong>The sample consisted of 114 companies active in stock exchange. Regression with panel data covering the period from 2008 to 2018 was used for data analysis. Static and dynamic models were used.</p> <p><strong>Findings:</strong> The main results showed that operational leverage moderates the relationship between investment and ROA, so that the greater the operational leverage and the greater the investment, the greater the ROA. It was also observed that contemporary explanatory variables were more adequate to explain the model.</p> <p><strong>Contributions:</strong> The findings indicate that greater operational leverage is an advantage for companies that present growth opportunities and have not reached the point of overinvestment, since ROA decreases as less is invested in this scenario. The research implication is that operating leverage is a factor that must be considered both in investment decisions and in profit forecasting models. This study differs from the previous ones, as it deals with the impact of investment and operational leverage on the contemporary results of companies in a joint manner.</p> Kelly Cristina Mucio Marques José Braz Hercos Junior Hélio Masaru Fujihara Copyright (c) 2021 Kelly Cristina Mucio Marques, José Braz Hercos Junior, Helio Masaru Figihara 2021-12-05 2021-12-05 099 110/111-121 10.14392/asaa.2021140304 INTANGIBLE ASSETS EVALUATION : SYSTEMATIC AND SCIENTIFIC VALIDATION AT ITAIPU TECHNOLOGICAL PARK – PTI BRAZIL <p><strong>Objective</strong>: This research aims to systematize the evaluation of intangible assets, which serve as a subsidy in the decision-making process in the value management of companies, while the problem that this research aims to answer is how to evaluate companies with a focus on intangible assets.</p> <p><strong>Method:</strong> The approach of this research is managerial. Descriptive statistical analysis tools were applied used as measures of association of intangible assets variables. The scientific validation was developed in section 5 at the Itaipu Technological Park: overview of the methodology, objectives and issues; field procedures (access to the locations of information sources and formation of a competence cell); evaluation questions (application of the systematic developed in topic 4); guide for reporting the study and then presenting the results obtained.</p> <p><strong>Results</strong>: One of the knowledge gaps, addressed in this research, reveals the scientific finding to evaluate intangible assets in non-profit organizations at the Itaipu Technological Park - PTI, which showed the value of 1.05 billion while accounting presented its total assets with 221.1 million.</p> <p><strong>Contributions</strong>: The contributions were the discovery of flaws in the models that evaluate intangible assets as being the difference between market and book value, as well as the existence of an interrelated dependence on intangible assets due to its value being closely linked with the conditions necessary for the generation of wealth in terms of people, processes, structure and relational as market factors, also the systematization of the evaluation of intangible assets for non-profit organizations.</p> <p><strong>Keywords</strong>: Intangible assets, evaluation, value added.</p> Osni Hoss Copyright (c) 2021 Osni Hoss 2021-12-31 2021-12-31 122 136/137-151 10.14392/asaa.2021140305