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Esta dissertação de mestrado tem como objetivo o estudo da identificação da manipulação de resultados a partir das contas de accruals reportadas pelas empresas. Para tal foi utilizado o modelo Dechow & Dichev (2002), com o intuito de avaliar a sua capacidade de identificação de casos reais de manipulação. Esta avaliação seguiu um procedimento com duas etapas. Na primeira etapa, estimou-se com base nas contas reportadas por 12 294 empresas americanas para o período 1987-2014, uma medida dos accruals discricionários efetuados por cada empresa, em cada ano, de acordo com o modelo de Dechow & Dichev (2002). Na segunda etapa, como exemplo, comparou-se a estimativa de accruals discricionários relativos ao ano 2013, com a identificação das empresas listadas pela Securities and Exchange Commission (SEC) como tendo manipulado contas nesse ano. Os resultados sugerem que 76% das empresas identificadas pelo SEC apresentam estimativas de accruals discricionários superiores à média (e mediana) dos accruals discricionários da totalidade das empresas nesse ano. Neste sentido, o modelo Dechow & Dichev (2002) pode ser considerado um bom modelo de identificação de manipulação de resultados.
This essay was made with the purpose to identify earning management taken from the accruals accounts reported by the companies. For that effect, the Dechow & Dichev model (2002) has been used, with the main objective of evaluate its ability of identifying real cases. This evaluation was carried out through a two-stage procedure. On the first stage, results were estimated based on accounts reported by 12 294 american companies during 1987-2014 time frame, a measure of discretionary accruals made by each company, year upon year, according to Dechow & Dichev model (2002). On the second stage, as an example, one compared the estimation of discretionary accruals related to year 2013 with the identification of the companies listed by the Securities and Exchange Commission (SEC) as if they had manipulated accounts that same year. The results sugest that 76% of the companies identified by SEC present discretionary accruals estimations above average (and median) of all entreprises’ discretionary accruals that entire year. That said, Dechow & Dichev model (2002) may be considered a good model for identifying earning management.
This essay was made with the purpose to identify earning management taken from the accruals accounts reported by the companies. For that effect, the Dechow & Dichev model (2002) has been used, with the main objective of evaluate its ability of identifying real cases. This evaluation was carried out through a two-stage procedure. On the first stage, results were estimated based on accounts reported by 12 294 american companies during 1987-2014 time frame, a measure of discretionary accruals made by each company, year upon year, according to Dechow & Dichev model (2002). On the second stage, as an example, one compared the estimation of discretionary accruals related to year 2013 with the identification of the companies listed by the Securities and Exchange Commission (SEC) as if they had manipulated accounts that same year. The results sugest that 76% of the companies identified by SEC present discretionary accruals estimations above average (and median) of all entreprises’ discretionary accruals that entire year. That said, Dechow & Dichev model (2002) may be considered a good model for identifying earning management.
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Keywords
Manipulação de resultados Accruals Identificação Modelo de Dechow & Dichev (2002) SEC Earning management Identification Dechow & Dichev model (2002)