Fatores determinantes do nível de disclosure das empresas de energia elétrica brasileiras : um estudo com dados em painel

AUTOR(ES)

Regis Cesar Cunha

FONTE

IBICT - Instituto Brasileiro de Informação em Ciência e Tecnologia

DATA DE PUBLICAÇÃO

24/05/2010

RESUMO

This study has aimed to evaluate the reasons that have lead to the disclosure of information by Brazilian electric power companies. For this purpose, we have used the studies of Verrecchia (2001), Dye (2001), Healy and Papely (2001), and Core (2001) to form the basis of the theoretical framework. Thus, we developed seven hypotheses related to the level of disclosure and business characteristics of such companies and four control variables, as follows: (i) hypotheses: profitability, debt, size, stock control, securities issued, size of the audit company and opportunity growth and (ii) control variables: the identity of the controlling shareholder, corporate governance, ADR, and shares on BOVESPA. This research can be classified as descriptive-explanatory, since it is a description of the evolution of the level of disclosure of companies and seeks to find explanations for the motives of these levels of disclosure. The sample used was 25 publicly traded companies in the electricity sector in the period from 2003 to 2007. Regression was used with panel data for the empirical test. The result was that level of disclosure of companies surveyed suffer little evolution over the years studied in connection with the reasons that explain the level of disclosure, only variables related to size and shares listed on BOVESPA proved positive relationship.

ASSUNTO(S)

ciencias contabeis empresas - energia elétrica - contabilidade - brasil divulgação de informações contábeis business enterprises electric power accounting disclosure in accounting

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