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Authors
Abstract(s)
O objectivo deste trabalho é estudar a qualidade da informação nas pequenas e médias empresas em Portugal, a qual se apresenta directamente relacionada com o nível de manipulação de resultados. Foi necessário perceber o conceito de manipulação de resultados, encontrar as formas de manipulação mais usuais e, por fim, encontrar modelos de detecção para aplicar nas empresas alvo (micro, pequenas e médias).
Deste modo, são utilizados dois modelos na detecção de manipulação de resultados: o modelo dos accruals de Dechow e Dichev (2002) e o modelo de distribuições de Burgsthaler e Dichev (1999). Ambos são implementados utilizando uma base de dados de cerca de 150 000 empresas portuguesas que se enquadram na definição de PME. No primeiro modelo recorremos a uma análise cross-section de modo a fazer face à falta de dados existentes em anos passados, especialmente anos anteriores a 2006.
Os resultados encontrados estão em conformidade com os esperados, estando a dimensão da empresa negativamente correlacionada com o nível de manipulação de resultados. Concluímos então que existe uma relação contrária entre a dimensão das empresas e a sua qualidade de informação, sendo que, as médias empresas são as que apresentam o melhor nível e as micro o pior.
The main objective of this work is to study the information quality in small and medium enterprises (SME’s) of Portugal, which is directly related to the level of earnings management. Heuce, it was necessary to understand the definition of earnings management, ways used for earnings management and which models are accurate to find earnings management evidence in the type of companies we are studying (micro, small and medium size). I have used two models to elect earnings management: the accruals model of Dechow and Dichev (2002) and the model of distributions of Burgstahler and Dichev (1999). Both are implemented along the way of this project supported in a data base of around 150 000 Portuguese companies that fit in the definition of SME. In the first model I have used the cross-section analysis since there were a lot of data missing from past years, especially prior to 2006. The results found are in line with the expected ones which results in a negative relation between company size and earnings management level. The conclusion is that there is an opposite relation between information quality level and the company size, where the medium size companies are the ones with the best quality level while micro companies show the lowest information quality.
The main objective of this work is to study the information quality in small and medium enterprises (SME’s) of Portugal, which is directly related to the level of earnings management. Heuce, it was necessary to understand the definition of earnings management, ways used for earnings management and which models are accurate to find earnings management evidence in the type of companies we are studying (micro, small and medium size). I have used two models to elect earnings management: the accruals model of Dechow and Dichev (2002) and the model of distributions of Burgstahler and Dichev (1999). Both are implemented along the way of this project supported in a data base of around 150 000 Portuguese companies that fit in the definition of SME. In the first model I have used the cross-section analysis since there were a lot of data missing from past years, especially prior to 2006. The results found are in line with the expected ones which results in a negative relation between company size and earnings management level. The conclusion is that there is an opposite relation between information quality level and the company size, where the medium size companies are the ones with the best quality level while micro companies show the lowest information quality.