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Abstract(s)
Este estudo centra-se na análise da possibilidade de existência de uma relação entre a qualidade da informação financeira e os fluxos de caixa de financiamento. Neste contexto, desenvolvemos uma análise empírica com o intuito de verificar se empresas portuguesas com maiores necessidades de financiamento (fluxos de caixa de financiamento) apresentam informação financeira com maior qualidade. Inicialmente, procedemos a um breve enquadramento relativamente à temática de manipulação de resultados e consequentemente à qualidade de informação para melhor a compreensão do estudo. A relação sob análise deve-se ao facto da economia portuguesa maioritariamente composta por pequenas e médias empresas com elevado nível de financiamento, assim encontraram-se dependentes do sistema bancário. Para testar a existência desta relação, utilizamos uma metodologia baseada em accruals, como medida de qualidade da informação no modelo empírico desenvolvido. Os resultados apurados indiciam a existência de uma relação entre a qualidade da informação financeira e os fluxos de caixa de financiamento.
This study analyses the possibility of a relationship between the quality of financial information and the financing cash flows. In this context, we have developed an empirical analysis in order to verify if Portuguese companies with higher financing needs (financing cash flows) present financial information with higher quality. In this context, we developed an empirical analysis in order to verify the companies with the greatest financing needs. Initially, we proceeded to a brief framework regarding earnings management and consequently the quality of information for better understanding of the study. The relationship under analysis is due to the fact that Portuguese economy is mainly composed of small and medium-sized companies with a high level of financing, thus they have been dependent on the banking system. To test the existence of this relationship, we use a methodology based on accruals, as a measure of information quality in the empirical model developed. The results show that there is a relationship between the quality of the financial information and the financing cash flows.
This study analyses the possibility of a relationship between the quality of financial information and the financing cash flows. In this context, we have developed an empirical analysis in order to verify if Portuguese companies with higher financing needs (financing cash flows) present financial information with higher quality. In this context, we developed an empirical analysis in order to verify the companies with the greatest financing needs. Initially, we proceeded to a brief framework regarding earnings management and consequently the quality of information for better understanding of the study. The relationship under analysis is due to the fact that Portuguese economy is mainly composed of small and medium-sized companies with a high level of financing, thus they have been dependent on the banking system. To test the existence of this relationship, we use a methodology based on accruals, as a measure of information quality in the empirical model developed. The results show that there is a relationship between the quality of the financial information and the financing cash flows.
Description
Keywords
Qualidade de informação financeira Manipulação de resultados Qualidade dos accruals Fluxos de caixa de financiamento Financial earning quality Earnings management Accruals quality Financing cash flows