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tese_10493_Dissertação Estephanye Paganotti da Cunha (última versão).pdf: 1510497 bytes, checksum: d4029ffe4242bd9daedad477688d323e (MD5) / CAPES / O objetivo desta dissertação é analisar a relação entre gerenciamento de resultados mediante
decisões operacionais e fatores de sustentabilidade corporativa das companhias não financeiras
listadas na BM&FBOVESPA. A detecção de gerenciamento de resultados por decisões
operacionais se dá por meio dos resíduos (erros) da regressão e representam um nível anormal
das atividades reais da empresa, sendo, assim, uma proxy para essa forma de gerenciamento
(PAULO, 2007). Em revisão da literatura nessa temática, constatou-se que existe uma lacuna
na investigação sobre gerenciamento de resultados no contexto de sustentabilidade corporativa,
haja vista que são poucos os estudos que abordam o tema e os resultados encontrados são
divergentes. Assim, para a realização deste estudo, utilizou-se uma amostra totalizando 1445
observações no período de 2005 a 2015, coletadas por meio do sistema Comdinheiro. Para a
operacionalização da pesquisa, fez uso da análise de regressão pelo modelo Pooled Ordinary
Least Squares (POLS) em painel, com erros-padrão robustos clusterizados pelo setor e ano. Os
resultados obtidos, sugerem não existir relação entre a prática de gerenciamento de resultados
mediante decisões operacionais e o ingresso de companhias na carteira ISE, entretanto, entre as
variáveis referentes a fatores de sustentabilidade corporativa, foi verificado relação positiva nos
três modelos de manipulações operacionais utilizados entre a evidenciação de fatores de
sustentabilidade corporativa com base na GRI e gerenciamento de resultados mediante decisões
operacionais. Conclui-se que, a entrada de companhias na carteira ISE não as influencia em
manipularem seus resultados operacionais, e esse achado corrobora ao estudo de Silva (2014).
Entretanto, os dados indicam que as companhias utilizam a sustentabilidade corporativa a fim
de praticarem gerenciamento de resultados mediante decisões operacionais, assim como
identifica-se nas pesquisas de Prior, Surroca e Tribó (2008); Salewski e Zülch (2014); Heltzer
(2011) e Beuren e Rodrigues Junior (2014). / The objective of this dissertation is to analyze the relationship between earnings management
through operational decisions and factors of corporate sustainability of non-financial companies
listed on BM&FBOVESPA. The detection of earnings management for operational decisions
is by means of the waste (errors) of the regression and represent an abnormal level of real
activities of the company, so they are a proxy for this form of management (Paulo, 2007). In a
review of the literature on this theme, it was found that there is a gap in research on earnings
management in the context of Corporate Sustainability, given that there are few studies that
address the theme and the results are divergent. Thus, in this study, we used a sample totaling
1445 observations in the period from 2005 to 2015, collected by system Comdinheiro. For the
operationalization of the research, made use of the regression analysis by the model Pooled
Ordinary Least Squares (POLS) panel, with standard errors robust cluster by sector and year.
The results obtained, suggest there is no relationship between the practice of earnings
management through operational decisions and the entry of companies in the ISE portfolio
analysis, however, between the variables related to factors of corporate sustainability, it was
verified positive relationship in the three models of operational manipulations used between the
disclosure of corporate sustainability based on the GRI and results management through
operational decisions. It is concluded that the entry of companies in the ISE portfolio does the
influences in manipulate their operating results, and this finding corroborates the study by Silva
(2014). However, the data indicate that the companies use corporate sustainability in order to
practice earnings management through operational decisions, as well as identifies himself in
the research of Prior, Port and Tribó (2008); Salewski and Zülch (2014); Heltzer (2011) and
Beuren and Rodrigues Junior (2014). / The objective of this dissertation is to analyze the relationship between earnings management
through operational decisions and factors of corporate sustainability of non-financial companies
listed on BM&FBOVESPA. The detection of earnings management for operational decisions
is by means of the waste (errors) of the regression and represent an abnormal level of real
activities of the company, so they are a proxy for this form of management (Paulo, 2007). In a
review of the literature on this theme, it was found that there is a gap in research on earnings
management in the context of Corporate Sustainability, given that there are few studies that
address the theme and the results are divergent. Thus, in this study, we used a sample totaling
1445 observations in the period from 2005 to 2015, collected by system Comdinheiro. For the
operationalization of the research, made use of the regression analysis by the model Pooled
Ordinary Least Squares (POLS) panel, with standard errors robust cluster by sector and year.
The results obtained, suggest there is no relationship between the practice of earnings
management through operational decisions and the entry of companies in the ISE portfolio
analysis, however, between the variables related to factors of corporate sustainability, it was
verified positive relationship in the three models of operational manipulations used between the
disclosure of corporate sustainability based on the GRI and results management through
operational decisions. It is concluded that the entry of companies in the ISE portfolio does the
influences in manipulate their operating results, and this finding corroborates the study by Silva
(2014). However, the data indicate that the companies use corporate sustainability in order to
practice earnings management through operational decisions, as well as identifies himself in
the research of Prior, Port and Tribó (2008); Salewski and Zülch (2014); Heltzer (2011) and
Beuren and Rodrigues Junior (2014)
| Identifer | oai:union.ndltd.org:IBICT/oai:repositorio.ufes.br:10/6770 |
| Date | 21 December 2016 |
| Creators | Cunha, Estephanye Paganotti da, 0000-0001-5283-2894 |
| Contributors | Almeida, Jose Elias Feres de, Nossa, Valcemiro, Campos, Gabriel Moreira |
| Publisher | Programa de Pós-Graduação em Ciências Contábeis |
| Source Sets | IBICT Brazilian ETDs |
| Language | Portuguese |
| Detected Language | English |
| Type | info:eu-repo/semantics/publishedVersion, info:eu-repo/semantics/masterThesis |
| Format | text |
| Source | reponame:Repositório Institucional da UFES, instname:Universidade Federal do Espírito Santo, instacron:UFES |
| Rights | info:eu-repo/semantics/openAccess |
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