Identification of relevant aspects concerning financial instruments disclosure of classified companies within different levels of corporate governance of Bovespa / Identificação dos aspectos relevantes na evidenciação dos instrumentos financeiros das empresas classificadas nos níveis diferenciados de governança corporativa da BOVESPA

AUTOR(ES)
DATA DE PUBLICAÇÃO

2008

RESUMO

This study has aimed to identify the existence of differences in the disclosure of financial instruments regarding recognition criteria, measurement and disclosure among companies of different levels of governance of Bovespa. In addition, it also presents some factors that influence this disclosure. The study contributes to both Theory and International Accounting Research groups of PPGCC/FURB. The research methodology is descriptive as to its objectives, a documentary with a longitudinal cut as to its procedures, and the approach is both qualitative and quantitative. The research has been done on the explanatory notes within the financial instrument section of the listed companies in Levels 1 and 2, and the New Bovespa Market between the years 2000 and 2007. Results show that hypotheses tested in this study have been confirmed. It has been proven that the size of the companies measured by the total of assets and sales have a positive correlation with the adjusted disclosure rate. The financing companies have shown more information disclosure than companies of other segments. The biggest auditing companies (BIG 5) have relation and correlation with adjusted disclosure rate. Whenever companies with foreign equity control started entering the different levels of governance of Bovespa, they started having a greater disclosure level than the ones with a national equity control. Results also show that the level of financial instrument disclosure has nothing to do with third-party capital sharing. Thus, even though the averages, the adjusted disclosure rate both simple and multiple regression tests, considered dependent variable, have reached the expectative, the chosen variables as independent have shown they, if analyzed individually, cannot explain the level of disclosure of the financial instruments in a significant way

ASSUNTO(S)

disclosure bovespa evidenciação instrumentos financeiros financial instruments corporative governance administracao financeira bovespa governança corporativa instrumentos financeiros; administração financeira; governança corporativa

ACESSO AO ARTIGO

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