Advances in Scientific and Applied Accounting

Influence of Economic Policy Uncertainty on Accruals and Abnormal Returns

Sun, 01 Jan 2023 00:00:00 +0000

Objective: Analyze the relationship between economic policy uncertainty in the Brazilian stock market and the accruals anomaly from 2010 to 2019.

Method: Time series procedures were carried out for the CAPM model with the inclusion of accruals factor, in order to obtain the abnormal return resulting from the analyzed factor. Thus, it was evaluated how the economic policy uncertainty affected the abnormal return due to the calculated accruals, through the approach of fixed effects panel with clustered robust standard errors.

Results and Discussion: The results of the study suggest that economic policy uncertainty influences abnormal accruals returns, showing that stocks have lower returns in periods of greater economic policy uncertainty. Results are consistent with the fact that increases in economic policy uncertainty can induce investors to sell shares, reducing share prices and, consequently, their returns. Despite this, rational investors could reap premiums of uncertainty as prices recover in subsequent moments.

Contributions: Economic policy uncertainty can be considered an important topic for academy and policymakers, as well as the analysis of impacts of returns on equity markets. In addition, the study can help portfolio managers and investors in the financial markets in order to improve the stability of policy implementation and avoid abnormal fluctuations in equity markets, as well as suggest investment strategies with perspectives based on economic policy uncertainty.

Accounting compliance and the implementation of accrual accounting policies: analysis of municipalities in the state of Rio de Janeiro

Maiara Sasso, Rosangela Pereira Ramos, Patrícia Siqueira Varela — Sun, 01 Jan 2023 00:00:00 +0000

Objective: To identify the relationship between accounting compliance and the implementation of accrual accounting policies from the IPSAS adoption.

Method: The independent variable (accounting compliance) was constructed through improprieties from accrual, budgeting, and fiscal accounting obtained from the courts of accounts’ reports; while the dependent variables (mandatory or voluntary implementation of accrual accounting policies ) was measured by counting the number of accrual accounting policies fulfilled by 88 of the 92 municipalities in the state of Rio de Janeiro. Poisson and negative binomial regression models were used to identify the relationship.

Results: The results do not indicate the statistical significance of the accounting compliance with the accrual accounting policies implemented. Instead, they point out the positive relationship of implementation with the opinion issued by the courts of accounts, the population range, and the information technology governance index. The expenses in the administration role presented a negative relationship with the accrual accounting policies implemented.

Contributions: In addition to contributing to the measurement of the accountancy staff qualification, the findings of this study contribute to the understanding of the role of the public sector accountant in reform processes. Accounting information aims to support decision-making and promote accountability. Public sector accountants are essential for generating this information and this study innovates by addressing the relationship between the accountancy staff and the implementation of accrual accounting policies from the IPSAS adoption through the population of municipalities in a state.

Relação entre a Capacidade Social e o Desempenho Social das Empresas Brasileiras Mediada pela Responsabilidade Social Corporativa

Ronaldo Leão de Miranda, Iara Regina dos Santos Parisotto — Mon, 22 May 2023 00:00:00 +0000

Objetivo: Este estudo objetiva analisar a relação entre a capacidade social e o desempenho social, mediada pela responsabilidade social corporativa, no contexto das empresas brasileiras listadas na B3.

Método: A pesquisa caracteriza-se como descritiva em relação a seu objetivo, quanto aos procedimentos é considerada como pesquisa aplicada a partir do levantamento de dados primários. Este estudo foi realizado com empresas de capital aberto do Brasil, por meio da aplicação de questionário aos gestores das empresas listadas na B3. As respostas obtidas por meio do questionário são provenientes da alta administração. Trata-se de uma pesquisa quantitativa em relação à abordagem do problema, sendo analisada por meio da modelagem de equações estruturais (MEE), com utilização do software SPSS AMOS versão 22.

Resultados: A importância da capacidade social não é apenas uma consideração estratégica para obter bons resultados de desempenho social e RSC, é antes de tudo uma consideração primária e fundamental quando se trata do alcance dos objetivos sociais das empresas. Diante disso, este estudo comprova que existe uma relação entre a capacidade social e o desempenho social das empresas brasileiras mediada pela responsabilidade social corporativa. Esse caminho de mediação CS => RSC => DS possui um ß= 0,705, onde a CS e RSC explicam o DS em aproximadamente 93%.

Contribuições: O estudo contribuiu à medida que esclarece, no teste de mediação, que a responsabilidade social corporativa medeia positivamente a relação entre a capacidade social e o desempenho social das empresas brasileiras. Somente integrar as partes interessadas nos processos decisórios e incluir suas necessidades na definição e realização dos objetivos sociais da organização não são suficientes para atender aos interesses de suas partes interessadas. Como implicação prática, as evidências da pesquisa empírica podem contribuir para elucidar discussões sobre a capacidade social auxiliar os gestores e diretores das empresas brasileiras a entender melhor o seu papel na distribuição de bens não financeiros.

Open-book accounting in the relationship between the cooperative and cooperatives in the coffee sector

Mon, 22 May 2023 00:00:00 +0000

Objective: To analyze how Open-Book Accounting (OBA) is practiced, considering its dimensions, in the relationship between a coffee cooperative and its members from the perspective of Transaction Cost Economics.

Method: Case study of the relationship between a cooperative and its members. For data collection, semi-structured interviews, document analysis and direct non-participant observation were used. For the analysis, Content Analysis was used.

Results/Discussion: It was verified that the OBA is applied bilaterally, with a high level of detail of information in the cooperative-cooperative sense and low level, in the opposite direction. The application conditions are based on cooperation and trust, contemplating incentives and the prediction of mutual benefits. It was noticed that the transaction costs of the analyzed relationship are reduced, because, a priori, both the cooperative and the members do not perceive opportunism in the use of shared information. It is concluded that the relationship studied favors the application of OBA, since it is based on cooperation, one of the main pillars for its effective application and generation of potential benefits.

Contributions: The study expands knowledge in the areas of Administration and Accounting by researching the application of OBA in cooperatives. It contributes to practice by making it possible to understand the application of the OBA and its strengths and weaknesses in cooperativism. It generates social contribution, since the proper management of costs, based on the sharing of information, enables superior performance in the cooperatives' businesses and income generation for the families involved.