Diese Arbeit untersucht, ob (i) das Ausmaß von conditional conservatism und (ii) die Prognosegenauigkeit sowie (iii) Persistenz der Erfolgsgrößen und Cash Flows durch unternehmensspezifische rechtliche Rahmenbedingungen wie die (i) Rechnungslegung, (ii) Kapitalmarktorientierung und (iii) Abschlussprüfung beeinflusst werden. Zum einen lässt sich im Rahmen der Analyse durch die Gegenüberstellung zweier Unternehmensgruppen die Implikationen der IFRS und des HGB und zum anderen aber auch die der Anreizsteuerung über die Agencybeziehungen des Unternehmens zu den Bilanzadressaten auf die Finanzberichterstattung der Unternehmen beschreiben. Es soll demnach explizit der Frage nachgegangen werden, ob diese Implikationen die Informationsfunktion der Finanzberichterstattung hinsichtlich einer Erhöhung der Earnings Quality unterstützen und somit eine weitere Regulierung dieser rechtlichen Rahmenbedingungen sinnvoll erscheint. Es wird innerhalb dieser Arbeit zudem gezeigt, dass das Modell von Basu (1997) nicht für eine angemessene Persistenzmessung geeignet ist, sondern vielmehr die unit root-Spezifikationen von Dickey und Fuller (1979,1981) oder die Threshold-Modelle von Enders und Granger (1998) herangezogen werden sollten. Darüber hinaus wird eine Vielzahl von Spezifikationstests vorgestellt, die u.a. einen multivariaten Ansatz zur Outlierkorrektur und verschiedene Formen der Berücksichtigung von fixed effects in den Regressionen umfasst. Die Resultate der empirischen Untersuchung der deutschen Unternehmen sprechen für eine höhere Persistenz der Erfolgsgrößen der börsennotierten HGB-Bilanzierer sowohl im Vergleich mit den börsennotierten IFRS-Bilanzierern als auch mit den nicht börsennotierten Unternehmen. Conditional conservatism wird jeweils für jede Unternehmensgruppe, jedoch nicht im Verhältnis der Gruppen zueinander, nachgewiesen. Die Rechnungslegung, Kapitalmarktorientierung und Abschlussprüfung besitzen folglich keinen eindeutigen Einfluss auf das Ausmaß von conditional conservatism. Eine weitgehend fehlende Assoziation der drei getesteten rechtlichen Rahmenbedingungen offenbart sich ebenfalls innerhalb der angewendeten Modelle zur Prognose des Cash Flows. Die die Zeitreiheneigenschaften der Erfolgsgrößen und Cash Flows determinierenden Faktoren sind dahingehend eher in der operativen Geschäftstätigkeit eines Unternehmens, bei anderen rechtlichen Rahmenbedingungen oder makroökonomischen Effekten wie der konjunkturellen Entwicklung zu suchen. In der Gegenüberstellung der verschiedenen ökonometrischen Methoden zeigt sich, dass vor allem die Hadi (1994)-Outlierkorrektur das R² erhöht und den Prognosefehler im Verhältnis zur in der Accounting-Literatur vorherrschenden Standardoutlierkorrektur senkt. Die unit root-Spezifikationen nach Dickey und Fuller (1979,1981) bieten im Vergleich zur Spezifikation von Basu (1997) ebenfalls höhere R² und geringere Prognosefehler. Des Weiteren weisen ökonometrische Modelle, welche die Implikationen von conditional conservatism berücksichtigen, jeweils bessere Resultate als Modelle ohne eine Integration dieser Komponente auf. Die in dieser Arbeit vorgestellten Spezifikationstests und alternativen Modelle führen somit durchweg zu einer Verbesserung der betrachteten Gütekriterien und sollten bei einer empirischen Analyse, insbesondere von Paneldaten, zukünftig in der Accounting-Literatur ihre Berücksichtigung finden. Wesentliche Abschnitte dieser Dissertation basieren auf den beiden folgenden Aufsätzen: "A Note on the Time Series Measure of Conservatism", CESifo Working Paper No. 2968, zusammen mit Frank Westermann und "Does the Introduction of IFRS Change the Timeliness of Loss Recognition? Evidence from German Firms", Institute of Empirical Economic Research Working Paper No. 87, zusammen mit Frank Westermann und Carl-Friedrich Leuschner.

No description available.

In 2010, the obligation to audit was abolished in Sweden with the aim of promoting entrepreneurship and minimizing its costs. As a result, today the majority of small private limited companies choose not to have an audit. Furthermore, there is a negative trend in the audit industry as the number of qualified auditors has decreased significantly since the abolition of the audit obligation.   Considering the 2017 review report by Riksrevisionen, which concluded that the audit obligation should be reintroduced in Sweden, this thesis addresses the question of whether the audit obligation should be reintroduced in Sweden. Previous research in other geographical areas indicates that auditing has positive effects for companies by increasing the quality of their financial reports. Moreover, further research indicates that there are no compelling reasons to mandate auditing for small private companies and that the auditor could be replaced by an accounting consultant. This relatively understudied area is therefore worthy of investigation, partly because of the inconsistent results observed in previous research and partly because few studies are based on Swedish society. The objective of this thesis is to examine the various perspectives on the removal of the audit obligation and to contribute to the debate on whether a reintroduction should be considered. Additionally, the study aims to assess the impact of a potential reintroduction of the audit obligation on the quality of reporting for the companies concerned. The thesis addresses the roles of auditors and accounting consultants for small private limited companies in Sweden. Through the qualitative method of interviewing company managers, auditors, and accounting consultants, the positions of these stakeholders are elucidated.  The results of the study indicate that the majority of respondents do not believe that the audit obligation should be reintroduced in Sweden. This is because the results suggest that an authorized accounting consultant can effectively serve as a substitute for the auditor for small private limited companies, thereby compensating for the potential loss of quality that may arise in the absence of an auditor. Additionally, the results demonstrate that auditing provides a quality stamp, but that the benefits of this do not exceed the costs incurred by the companies. The primary rationale for opposing the reintroduction of auditing is that the current audit methodology is ill-suited to the needs of small private limited companies, resulting in excessive costs. Moreover, the results strongly suggest that some form of external control is necessary, rather than mandatory auditing. Potential solutions include increased controls from Skatteverket or requiring an authorized accounting consultant. In conclusion, the findings demonstrate that auditing is a valuable practice with beneficial effects for both businesses and society at large. Nevertheless, the evidence suggests that there are currently insufficient compelling reasons to advocate for the reinstatement of mandatory audits in Sweden.

本研究主要針對我國上市櫃輔導之制度，探討撤銷上市(櫃)輔導公司之中，獲准上市(櫃)之公開發行公司，與其他自願撤銷輔導上市櫃之公開發行公司相較，於撤銷輔導上市櫃之前二年至後二年的研究期間，兩者之間的盈餘品質是否存在差異。 實證結果顯示，以損失認列時效性迴歸模型分析時，獲准上市(櫃)之公開發行公司較自願撤銷輔導上市櫃之公開發行公司有較佳的盈餘品質；以盈餘時效性迴歸模型分析時，自願撤銷輔導上市櫃之公開發行公司較獲准上市(櫃)之公開發行公司有較佳的盈餘品質。本研究推論此分歧結果，由我國臺灣證券交易所股份有限公司有價證券上市審查準則與財團法人中華民國證券櫃檯買賣中心證券商營業處所買賣有價證券審查準則對於申請上市(櫃)之獲利門檻要求所造成。 / Based on regulations on listing guidance released by the Taiwan Stock Exchange Corporation (TSEC) mission, this study investigates the difference in earnings quality between firms that voluntarily cancel their listing guidance applications and firm that complete their initial public offerings (IPOs) over the period of two years prior to the cancellation and two years after the cancellation of listing guidance application. The results show that, under timeliness in loss recognition regression model, using a two-year duration prior to the IPO or listing guidance application cancellation for research period, the earnings quality of IPO firms over the two-year-period prior to their IPOs is better than that of firms voluntarily cancelled their listing guidance applications. On the contrary, under timeliness in earnings regression model, earnings quality of firms cancelled their listing guidance application voluntarily is better than that of the IPO firms. The empirical evidence thus suggests that the inconsistence on earnings quality measured in terms of loss and earnings recognition may due to the profitability threshold imposed by TSEC and GreTai Securities Market on rules governing the review of stock listings.

本文從債務契約的角度，調查穩健會計對財務報表使用者的經濟效益，以及編製者提供穩健會計的經濟誘因。穩健會計的最主要受益者為債權人，選擇債務契約係基於，首先，本研究利用當期公司穩健特性預期次期該公司契約是否違約，研究結果發現穩健會計得以使債權人及時偵知債務人倒帳風險，其次，本研究調查編製者的經濟誘因，實證結果未能發現，其中經濟誘因的變數包括銀行貸款利率、異常應計與盈餘反應係數，本文建議未來研究可繼續探求財報提供者報導穩健之誘因，並進行跨國分析比較。 / Perceived from the perspective of debt contract, this paper investigates the benefit of accounting conservatism for users of financial statements and the motivation of financial preparers to provide conservative reporting. I choose this topic because main beneficiaries of accounting conservatism are the lenders. First, I use the measure of conservatism in current period to predict the default risk of borrowers in next period. The evidences show that conservatism benefits lenders through the timely signaling of default risk. Second, I try to discover the motivation of borrowers to provide conservatism accounting through the proxies of cost of capital, abnormal accruals and earning response coefficient but fail. One potential avenue for future research is to find the economic motivation of financial reporting preparers to report conservative accountings and do the cross-country comparisons.

As relações entre investidores e executivos são abordadas pela Teoria da Agência que, entre outras tratativas, afirma que a remuneração executiva é um instrumento que investidores dispõem para controlar as ações de executivos. No entanto, há a assimetria de informações e os executivos possuem maneiras de gerenciar informações contábeis de modo a atingir as metas estabelecidas pelas políticas de remuneração e aumentar a própria riqueza em detrimento do aumento da riqueza do acionista. Neste sentido, esta tese investigou se a informação contábil influencia nos determinantes da remuneração executiva de companhias europeias para o período de 2008 a 2017. Para isto, lançou mão de três artigos independentes que juntos constroem esta tese. O primeiro uma revisão de literatura em que se traçou um retrato temporal, geográfico e temático das publicações acerca do problema de agência. Os dois artigos seguintes são empíricos e abordaram duas vertentes contábeis de suma importância para a sustentação de uma companhia: o resultado e o caixa. O segundo artigo investigou se os pacotes de remuneração executiva sofrem influência da qualidade do resultado e o terceiro artigo investigou acerca da influência do fluxo de caixa operacional sobre a remuneração executiva. A pesquisa utilizou dados secundários, tal que o estudo bibliográfico foi elaborado a partir de um levantamento bibliométrico e os dois trabalhos empíricos foram construídos a partir de dados coletados da base Thomson Reuter/s Eikon©. A técnica estatística aplicada foi a regressão com dados em painel. O estudo bibliométrico indicou uma lacuna no conhecimento preenchida pelos dois artigos empíricos. O primeiro identificou que as companhias não determinam os pacotes de remuneração a partir da qualidade do resultado. O segundo identificou uma bonificação paga ao executivo em função da geração de caixa operacional. A contribuição da tese se dá no alerta aos investidores acerca da determinação das políticas de remuneração executiva a partir de indicadores de desempenho de curto prazo e nenhuma relação destas compensações com indicadores que indicam qualidade da informação contábil e sustentabilidade de resultados no longo prazo / The relationship between investors and executives are addressed by the Agency Theory which, among other subjects, says that the CEO Compensation is an instrument that investors have to control the actions of executives. However, there is the asymmetry of information and executives have ways to manage accounting information to achieve the goals established by the remuneration policies and increase their wealth at the expense of growing shareholder wealth. In this sense, this thesis investigated whether the accounting information can influence the determinants of CEO Compensation of European companies for the period 2008 to 2017. For this, they have resorted to three independent articles that together build this thesis. The first is a literature review in which we drew a picture temporal, geographic and thematic of publications about the problem of agency. The following two articles are empirical and addressed two statements of paramount importance to sustain a company: earnings and cash. The second article investigated whether CEO Compensation packages are influenced by the earnings quality and the third article investigated the influence of cash flow of operating on executive remuneration. The research used secondary data, such that the bibliographic study was prepared from a bibliometric survey and the two empirical studies were constructed from data collected from Thomson Reuters Eikon©, companies established in countries of the European Union, for the period 2008 to 2017. The statistical technique applied was the regression with panel data. The bibliometric study indicated a gap in knowledge filled by two empirical articles. The first identified that companies do not determine remuneration packages from the earnings quality. The second recognized a subsidy paid to the executive in function of the cash flow of operating. The contribution of this thesis is on the alert for investors concerning the determination of CEO Compensation policies from performance indicators of short-term and no relation of these compensations with signs that indicate the quality of accounting information and sustainability of results in the long term

ABSTRACT Title: Do women's risk aversion have any effect on earnings quality and audit fees? Level: Student thesis, final assignment for Bachelor Degree in Business Administration Author: Josephine Jonsson and Josefin Lund Supervisor: Jan Svanberg Date: 2019 – june Aim: Due to the positive qualities women are considered to add to the boardroom and the countries' quota requirements for the proportion of women on boards, it is of great importance to examine the possible effect of an increased number of women on boards. The purpose of this study is to investigate whether there is a connection between external audit fees and the proportion of women on the board. A second purpose is to investigate whether a higher/lower audit fees associated with women on the board is related to higher earnings quality. Method: The study adopts a hypothetical-deductive approach with a positivistic perspective. Quantitative secondary data has been obtained from the Thomson Reuters Eikon. A longitudinal study has been designed and the selection has finally been analyzed in multiple regression analysis using the statistics program IBM SPSS. Result & Conclusions: The study's literature review gave reason to expect a connection between the proportion of women on the board and the companies' earnings management and audit fees explained by women's risk aversion. The study measures the companies' earnings quality with earnings management in order to seek answers to whether the audit fee can be explained by the earnings quality. The result shows no correlation and the study can thus not explain the companies' audit fees with women's tendency to act risk averse. Contribution of the thesis: From a theoretical perspective, the study contributes to business research through an increased understanding of the view of the female leader, as this study seeks out explanations other than risk aversion to the connection between audit fees and the female leader. The study's practical contribution is about clarifying the effect of appointing more women on boards, and the study provides valuable information to the companies' stakeholders due to the quota requirements of women on boards in certain countries. Suggestions for future research: Since the results in the study do not fall in line with previous research, future research should take an open perspective on whether women should be assumed to be risk averse. There may be many other explanations for the effects of women on leading positions. These effects should be investigated. It is also interesting to investigate how the quota of women in leading positions affects the companies' profitability, if the woman is hired because of her gender and not her experience and competence. / SAMMANFATTNING Titel: Har kvinnors riskaversion någon effekt på redovisningskvalitet och revisionsarvode? Nivå: Examensarbete på Grundnivå (kandidatexamen) i ämnet företagsekonomi Författare: Josephine Jonsson och Josefin Lund Handledare: Jan Svanberg Datum: 2019 – juni Syfte: Med anledning av de positiva egenskaper kvinnor anses tillföra i styrelserummen samt ländernas kvoteringskrav på andel kvinnor i styrelser är det av stor vikt att undersöka den eventuella effekt som kommer av ett ökat antal kvinnor i styrelser. Syftet med denna studie är att undersöka om det finns ett samband mellan externt revisionsarvode och andel kvinnor i styrelsen. Ett andra syfte är att undersöka om ett eventuellt högre/lägre revisionsarvode associerat till kvinnor i styrelsen är relaterat till högre redovisningskvalitet. Metod: Studien antar en hypotetisk-deduktiv ansats och ett positivistiskt perspektiv. Kvantitativ sekundärdata har inhämtats från databasen Thomson Reuters Eikon. En longitudinell studie har designats och urvalet har slutligen genomgått analys i multipla regressionsanalyser med hjälp av statistikprogrammet IBM SPSS. Resultat och slutsats: Studiens litteraturundersökning gav anledning att förvänta sig ett samband mellan andel kvinnor i styrelsen och företagens resultatmanipulation och revisionsarvode förklarat med kvinnors riskaversion. Studien mäter företagens redovisningskvalitet med resultatmanipulation för att söka svar på om revisionsarvodet kan förklaras med företagens redovisningskvalitet. Resultatet visar inget samband och studien kan således inte förklara företagens revisionsarvoden med kvinnors tendens att agera riskavert. Examensarbetets bidrag: Ur ett teoretiskt perspektiv bidrar studien till den företagsekonomiska forskningen genom en ökad förståelse på synen på den kvinnliga ledaren, eftersom denna studie söker andra förklaringar än riskaversion till sambandet mellan revisionsarvodet och den kvinnliga ledaren. Studiens praktiska bidrag handlar om att tydliggöra effekten av att tillsätta fler kvinnor i styrelser och studien tillhandahåller värdefull information till företagens intressenter med anledning av kvoteringskrav på kvinnor i styrelser i vissa länder. Förslag till fortsatt forskning: Då sambanden i studien inte faller i linje med tidigare forskning bör framtida forskning inta ett öppet perspektiv på huruvida kvinnan kan antas riskavert. Det kan finnas många andra förklaringar till effekterna som uppstår av kvinnor på ledande poster. Dessa effekter bör undersökas. Det vore även intressant att undersöka hur inkvotering av kvinnor i ledande positioner påverkar företagens lönsamhet, ifall kvinnan inkvoteras på grund av sin könstillhörighet och inte sin erfarenhet och kompetens.

Submitted by Silvana Teresinha Dornelles Studzinski (sstudzinski) on 2017-02-07T15:14:31Z No. of bitstreams: 1 Antônio Carlos Brunozi Júnior_.pdf: 1890196 bytes, checksum: 03f07bf855edd36df1c185cbdcae5b2c (MD5) / Made available in DSpace on 2017-02-07T15:14:31Z (GMT). No. of bitstreams: 1 Antônio Carlos Brunozi Júnior_.pdf: 1890196 bytes, checksum: 03f07bf855edd36df1c185cbdcae5b2c (MD5) Previous issue date: 2016-11-28 / Nenhuma / As diferenças nas apurações do Lucro Contábil e o do Lucro Tributário, denominadas de Book-Tax Differences (BTD), tornaram-se um assunto de discussão e relevância no final da década de 1990 e início dos anos 2000, principalmente nos Estados Unidos e na Europa. Com a sua evolução, houve a expansão e o interesse da academia nessa temática em vários países. Os acadêmicos perceberam que as BTD possuíam um papel informativo para as empresas e essa constatação permitiu diversos estudos que relacionaram as BTD com a qualidade dos resultados contábeis. Nessas pesquisas foram consideradas que as BTD refletiam somente as diferenças regulatórias das normas contábeis e fiscais, ou seja, as diferenças permanentes e temporárias. No entanto, Tang (2006) ampliou essa constatação e argumentou que as BTD são formadas por dois componentes. Para o autor, além das diferenças regulatórias, as BTD são compostas pelas discricionariedades dos gestores nas empresas, contemplando práticas e comportamentos oportunistas para os gerenciamentos dos resultados contábeis e tributários. Tang (2006) denominou as diferenças regulatórias de BTD Normais e as práticas de manipulações dos resultados de BTD Anormais. Essa separação dos componentes das BTD é o foco dessa tese, principalmente as BTD Anormais, para analisar os seus efeitos sobre a qualidade dos lucros nas empresas. Na presente tese se defendeu que as BTD Anormais são instrumentos utilizados pelos gestores para manipular os resultados das empresas. Com essas ações, há possíveis evidências de assimetrias informacionais, mostrando que existem diferenças entre os resultados reportados e os reais das firmas de capital aberto analisadas. Com isso, a presente pesquisa teve como objetivo analisar as influências das BTD, decorrentes das práticas de gerenciamentos de resultados contábeis e tributários, na qualidade dos resultados contábeis em empresas de capital aberto listadas no Brasil. O contexto brasileiro é adequado para esse estudo, pois houve acontecimentos que incentivaram as variações das BTD, como: a adoção das IFRS e a manutenção da legislação tributária. Além disso, no país há evidências concretas de práticas de manipulações dos resultados contábeis, de planejamento tributário agressivo e elevada evasão fiscal nas empresas. Diante do exposto, a presente tese defendeu que as BTD Anormais diminuem a qualidade dos lucros em empresas de capital aberto listadas no Brasil. Para a concretização deste estudo, metodologicamente, foram consideradas 290 empresas listadas na BMF&Bovespa, no período de 2002 a 2015. Como inovação da tese foi operacionalizado um modelo para estimar as BTD Anormais no contexto brasileiro e ainda essa pesquisa foi original ao relacionar as BTD Anormais com a qualidade dos lucros em empresas listadas no Brasil. Para a qualidade dos resultados contábeis foram consideradas as dimensões de persistências dos resultados contábeis e tributários, gerenciamento de resultados, value relevance e conservadorismo contábil. Como percepções adicionais, o estudo analisou as associações das BTD Anormais e a qualidade dos lucros antes e após a adoção das IFRS. Para a consistência das estimações desse estudo, foi aplicada a técnica de dados em painel dinâmico com GMM. Os resultados foram significativos e corroboraram com a tese proposta. Primeiro, o estudo estimou uma medida consistente para as BTD Anormais no contexto brasileiro, com relações significativas com o gerenciamento de resultados e o planejamento tributário. Segundo, os achados dessa pesquisa indicaram para a diminuição da qualidade dos lucros com as influências das BTD Anormais. As hipóteses foram aceitas, em sua maioria, e evidenciaram resultados contábeis nas empresas menos persistentes, conservadores e relevantes devido aos efeitos das BTD Anormais. Além disso, mostrou-se que esse tipo de BTD incentiva os accruals discricionários e diminui a qualidade dos accruals. Os resultados ainda mostraram que os efeitos das BTD Anormais sobre a qualidade dos resultados foram mais pronunciados após a adoção das IFRS. Essas constatações podem indicar que com a adoção das IFRS ocorreram tendências para a maior discricionariedade dos gestores e o possível aumento das BTD. Testes suplementares confirmaram a adequabilidade da medida de BTD Anormais com seus efeitos mais pronunciados do que as BTD Normais, relações com os custos de agência e variações pelos ciclos de vida das empresas. Em suma, o estudo contribuiu com adições de constatações para a literatura nacional e internacional. A tese é inovadora ao propor a medida de BTD Anormais no Brasil e original ao relacioná-la com a qualidade dos lucros, com novas dimensões deste conceito de qualidade que contribuíram para as pesquisas internacionais. Em meios gerais, o estudo reforçou que as BTD devem ser consideradas pelos seus componentes, com os discricionários causando assimetria informacional e afetando a qualidade dos lucros nas empresas. Além disso, a pesquisa potencializou com informações os recorrentes debates nos países sobre a conformidade financeira-fiscal para as empresas. / The differences in the verification of Financial Profit and Tax Profit, known as Book-Tax Differences (BTD), have became a discussion topic and relevant issue in the end of the 1990’s and in the early 2000’s, especially in the United States and in Europe. With its evolution, there was the expansion and the academic interest on this theme in many countries. The scholars noted that the BTD had an informative role for the companies and this finding made it possible to many studies relate the BTD with the earnings quality. These researches considered that BTD reflected only regulatory differences in relation to accounting and tax rules, that is, temporary and permanent differences. However, Tang (2006) enlarged that finding and argued that the BTD were built by two elements. According to the author, besides regulatory differences, BTD are composed by discretion of managers in the companies, contemplating practices and opportunistic behaviors to the management of financial and tax results. Tang (2006) called the regulatory differences Normal BTD and the practices of results manipulation Abnormal BTD. The separation of these components is the focus of this thesis, especially the Abnormal BTD, in order to analyze their effects on the earnings quality in publicly traded companies. This study is justified by the premise that Abnormal BTD are instruments used by the managers in order to manipulate the company’s results. With these attitudes, there are possible evidences of informational asymmetry, showing that there are differences between the reported results and the real results in the publicly traded companies that were analyzed. Having this in mind, the present research had the objective to analyze the BTD influences, caused by the management practices of financial and tax results, in the earnings quality in the publicly traded companies listed in Brazil. The Brazilian context is appropriate for this study, because there were events that motivated BTD variations, such as: IFRS adoption and the continuation of the tributary law. Besides, there are concrete evidences of accounting results manipulation practices, aggressive tax planning and high tax evasion inside companies. Thus, the present thesis defended that Abnormal BTD decrease the earnings quality in publicly traded companies listed in Brazil. In order to make this study concrete, in terms of methodology, 290 companies listed at BMF&Bovespa were considered, in the period from 2002 to 2015. As thesis innovation, a model was operationalized in order to estimate Abnormal BTD in the Brazilian context and this research was also original because it related the Abnormal BTD to earnings quality of companies listed in Brazil. For accounting results quality, the dimensions of the persistence of financial and tax results were considered, as well as earnings management, value relevance, and accounting conservatism. As additional perceptions, the study analyzed the associations between Abnormal BTD and earnings quality before and after the adoption of IFRS. To ensure the consistency of this study estimates, a dynamic data panel model with GMM technique was applied. The results were significant and corroborated the proposed thesis. First, the study estimated a consistent measure for the Abnormal BTD in the Brazilian context, with significant relations with the earnings management and tax planning. Second, the findings in this research indicate a decrease in earnings quality with Abnormal BTD influence. The hypotheses were mostly accepted, and they highlighted financial results for the less persistent companies, conservative and relevant due to the Abnormal BTD effects. Furthermore, it was showed that this kind of BTD encourage discretionary accruals and decreases the quality of accruals. The results also showed that the Abnormal BTD effects on the earnings quality were more significant after the adoption of IFRS. These observations may indicate more discretionary allowed to the managers and the possible raise of BTD with those international standards. Supplementary tests proved the adequacy of Abnormal BTD measure with more pronounced effects that the Normal BTD, relations with the agency costs and variations throughout the company’s life cycle. In summary, this study provides findings additions to the national and international literature. The thesis was innovative as it proposed the Abnormal BTD measure in Brazil and original when it related Abnormal BTD with earnings quality, with new dimensions that contributed to international research. On the whole, this study reinforced that BTD must be considered by their elements, with the discretionary causing information asymmetry and affecting the earnings quality for companies. Moreover, the research potencialized with information the recurrent debate around the countries about the Book-tax conformity in the companies.

Submitted by Silvana Teresinha Dornelles Studzinski (sstudzinski) on 2017-02-10T12:19:50Z No. of bitstreams: 1 Adalene Olivia Silvestre_.pdf: 590609 bytes, checksum: 188661a0ac02964a45900cec5e4c0062 (MD5) / Made available in DSpace on 2017-02-10T12:19:50Z (GMT). No. of bitstreams: 1 Adalene Olivia Silvestre_.pdf: 590609 bytes, checksum: 188661a0ac02964a45900cec5e4c0062 (MD5) Previous issue date: 2016-12-20 / CAPES - Coordenação de Aperfeiçoamento de Pessoal de Nível Superior / PROSUP - Programa de Suporte à Pós-Gradução de Instituições de Ensino Particulares / A auditoria independente exerce um importante papel na relação entre a empresa e os usuários externos à entidade, devendo o auditor ser independente em relação à empresa auditada. No Brasil, o rodízio obrigatório de firma de auditoria é regulamentado pela Instrução CVM 308/99 na tentativa de contribuir com a manutenção da independência do auditor e, consequentemente, com a qualidade dos lucros divulgados pelas empresas. Diante disto, o presente estudo tem por objetivo analisar o efeito do rodízio da firma de auditoria sobre a qualidade dos lucros das empresas de capital aberto brasileiras listadas na BM&FBOVESPA no período de 2008 a 2015. Como medida de qualidade dos lucros foram utilizados os accruals residuais, que identificam a parcela discricionária dos accruals, medida inversa à qualidade dos lucros. Os accruals residuais foram abordados a partir de duas diferentes perspectivas: o gerenciamento de resultados, medido pelos modelos de Jones (1991) e Jones Modificado por Dechow, Sloan e Sweeney (1995) e os erros de estimativas, medidos pelos modelos de Dechow e Dichev (2002) e Dechow e Dichev modificado por McNichols (2002). Os resultados demonstram que o rodízio de firma de auditoria reduz o volume de accruals residuais e, assim, aumenta a qualidade dos lucros, quando esses são mensurados a partir da perspectiva do gerenciamento de resultados, através dos modelos de Jones e Jones modificado. Entretanto, o efeito do rodízio de firma de auditoria sobre a qualidade dos lucros não é observado quando os accruals residuais são mensurados a partir da perspectiva dos erros de estimativas contábeis, através dos modelos de Dechow e Dichev e McNichols. Por outro lado, os resultados demonstram que as empresas que realizam rodízio voluntário de firma de auditoria apresentam maiores accruals residuais e, consequentemente, menor qualidade dos lucros. / Independent audit plays an important role in the relationship between the company and external users, and the auditor must be independent of the audited company. In Brazil, the mandatory audit firm rotation is regulated by CVM Instruction 308/99, in an attempt to contribute to the maintenance of auditor independence and, consequently, with the quality of earnings disclosed by the companies. Therefore, the present study has the objective of analyzing the effect of the audit firm rotation on the earnings quality of Brazilian public companies listed on BM&FBOVESPA in the period from 2008 to 2015. Residuals accruals were used as a measure of earnings quality, which identify a discretionary portion of the accruals, inverse measure of earnings quality. The residuals accruals were approached from two different perspectives: earnings management, measured by Jones model (1991) and Jones modified by Dechow, Sloan and Sweeney model (1995) and the estimation errors, measured by the Dechow and Dichev model (2002) and Dechow and Dichev modified by McNichols model (2002). The results show that audit firm rotation reduced the volume of residuals accruals and, thus, increases the earnings quality, when these are measured from the perspective of earnings management through the Jones and Jones modified models. However, the effect of audit firm rotation on the earnings quality is not observed when the residuals accruals are measured from the perspective of accounting estimation errors, through the Dechow and Dichev and McNichols models. On the other hand, the results demonstrate that the companies that perform the voluntary audit firm rotation have greater residuals accruals and, consequently, lower earnings quality.

本文以2000~2009台灣地區不含金融證券業之上市公司為樣本，資料來源為台灣經濟新報社資料庫(Taiwan Economic Journal)，研究主題為探討多角化與股利發放政策之關聯性，同時也檢測多角化程度愈高而經營績效較差或盈餘品質較差的企業與股利發放政策之關係，實證研究的結果顯示，多角化程度會影響股利發放政策，而多角化與股利發放政策呈現顯著負相關，企業多角化程度愈高，股利支付率較低、較不會發放股利及較不會增加發放股利，而這些現象主要是集中在經營績效較差或盈餘品質較差的企業。 / Based on a sample of firms listed in Taiwan during 2000-2009, this study investigates the relationship between firm diversification and dividend policy and the extent to which firm performance and earnings quality affect diversified companies in making dividend policy decisions. The empirical results show that firms with greater diversification are less likely to pay dividends, pay lower dividend yields, and are less likely to increase dividends. I also find that such evidence is more pronounced among poor financial performance and lower earnings quality firms.