ASSIMETRIA DE CUSTOS NO GERENCIAMENTO DE RESULTADOS
DOI:
https://doi.org/10.14392/ASAA.2020130106Keywords:
Assimetria de custos, Gerenciamento de resultados, Teoria da Agência.Abstract
O objetivo dessa pesquisa foi verificar a relação entre os níveis de assimetria de custos e o gerenciamento de resultados. A amostra é composta por 157 empresas brasileiras de capital aberto no período de 2008 a 2017, somando 1570 observações. Para a análise dos dados, utilizou-se os modelos de regressão múltipla (linear) e o modelo logit (não linear). Quanto aos resultados, inicialmente evidenciou-se que parte das empresas apresentou assimetria nos custos e que o gerenciamento de resultados foi confirmado nas empresas que relatam lucros positivos que estão próximos de zero, isto é, evitam divulgar perdas incorridas no período. Posteriormente, demonstrou-se que o gerenciamento de resultados e a assimetria de custos estão associados negativamente. Porém, esse resultado se mostrou significativo apenas para o gerenciamento de atividades reais. Conclui-se que as empresas que apresentam assimetria de custos têm menor gerenciamento de resultados por atividades reais apenas no setor industrial. As explicações para esse resultado são a elevada estrutura de custos fixos desse setor e os incentivos pessoais dos gestores, conforme a Teoria da Agência, que implicam em maior assimetria de custos. Uma das contribuições da pesquisa é apontar aos usuários da informação contábil que a análise do comportamento dos custos das empresas pode indicar se os gestores estão se utilizando do gerenciamento de resultados para ajustar o lucro.Downloads
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