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Abstract(s)
Existe uma extensa literatura que estuda as causas e consequências da “Gestão de Resultados”, ou seja, da manipulação intencional de resultados financeiros com o intuito de obter ganhos presentes ou futuros. Foram também estudados vários métodos de medição da qualidade da informação divulgada pelas empresas. A presente tese baseia-se no estudo dos accruals para medir a qualidade da informação financeira divulgada por 271.101 empresas portuguesas e analisa quais as razões principais para a manipulação de resultados. Os resultados empíricos demonstram que o endividamento influencia a qualidade da informação de forma distinta, consoante seja presente ou futura. Verifica-se também um impacto positivo do montante de impostos pagos e da taxa de crescimento real do PIB na qualidade da informação.
There is an extensive literature on the causes and consequences of “Earnings Management”, which represents the intentional manipulation of financial results with the purpose to achieve present or future gains. Many estimation methods were also studied to measure the quality of the information provided by companies. The present thesis is based on the study of accruals to measure the quality of the financial information reported by 271.101 Portuguese companies and analyses which are the main reasons behind results manipulation. The empirical results show that debt influences the quality of the information in a different manner, whether it is present or future. There is also a positive impact of the amount of taxes paid and of the real GDP growth rate on the quality of information.
There is an extensive literature on the causes and consequences of “Earnings Management”, which represents the intentional manipulation of financial results with the purpose to achieve present or future gains. Many estimation methods were also studied to measure the quality of the information provided by companies. The present thesis is based on the study of accruals to measure the quality of the financial information reported by 271.101 Portuguese companies and analyses which are the main reasons behind results manipulation. The empirical results show that debt influences the quality of the information in a different manner, whether it is present or future. There is also a positive impact of the amount of taxes paid and of the real GDP growth rate on the quality of information.
Description
Keywords
Gestão de resultados Manipulação de resultados Accruals Earnings management