Mestrado em Ciências Contábeis (FACE)
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Navegando Mestrado em Ciências Contábeis (FACE) por Por Orientador "Rech, Ilírio José"
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Item A influência das subvenções e assistências governamentais no desempenho econômico das empresas do agronegócio brasileiro(Universidade Federal de Goiás, 2021-07-27) Maia, Gilson Ribeiro; Rech, Ilírio José; http://lattes.cnpq.br/5540005217517516; Rech, Ilírio José; Machado, Lúcio De Souza; Pereira, Ivone VieiraThe granting of Government Grants and Assistance is part of the government's fiscal policy and its purpose, among many others, is to help companies to develop activities that are important for economic development, in addition to providing mechanisms that improve the social actions demanded by society. In this context, this research examines whether Government Grants and Assistance influence the economic performance of Brazilian agribusiness companies listed on B3 S.A (Brasil, Bolsa, Balcão). To reach the goal, 59 companies were analyzed in the period from 2014 to 2019, using the Return on Assets (ROA) and the Return on Equity (ROE) as performance variables. The independent variables that formed the Government Grants and Assistance were collected from the notes, from the tax incentive reserves and from subsidized loans obtained from the Banco Nacional de Desenvolvimento Econômico e Social (BNDES). As control variables, the size of assets (TAM), tax aggressiveness measured by the Book Tax Difference (BTD) and the Effective Tax Rate (ETR), net revenues (REC), region of location of subsidized companies (REG) were used and the classification of companies into groups upstream and downstream of the agricultural activity in relation to the agribusiness production chain (MAJ). The information was taken from Economatica® and from the BNDES website. The statistical technique adopted to analyze the data was through multiple regression analysis with panel data. The results indicate that subsidized loans impact the performance measured by ROA, which is not verified with other isolated grants; as for the variables that measure tax aggressiveness, the Book Tax Difference (BTD) showed positive statistical significance (1%) for the same performance indicator. Through the econometric models, it was noticed that the return on equity (ROE) indicator, in principle, is not effective to measure a possible influence relationship by Government Grants and Assistance. The variables net revenue (REC) and MAJ also showed statistical significance in part of the models, but the variables size (TAM) and region (REG) were not able to contribute, ceteris paribus, in explaining the influence of Government Grants and Assistance on performance of the companies studied. It is concluded that there is no evidence that Government Subsidies and Assistance, alone, influence the performance of companies, however, subsidized loans obtained from the BNDES demonstrate statistical significance for subsidized agribusiness companies.Item A influência das características dos gestores no reconhecimento do valor do Goodwill em empresas da B3(Universidade Federal de Goiás, 2023-05-14) Miranda Filho, Silvio Silva; Machado, Michele Rílany Rodrigues; http://lattes.cnpq.br/8001352972115912; Carmo, Carlos Henrique Silva do; http://lattes.cnpq.br/1859940699823861; Rech, Ilírio José; http://lattes.cnpq.br/5540005217517516; Rech, Ilírio José; Lemes, Sirlei; Carmo, Carlos Henrique Silva doThe measurement of transaction values in merger and acquisition processes, as well as the recognition of the value paid for future profitability expectations - goodwill, affect the financial position and public perception of the company (Detzen et al, 2012). Studying the factors that affect the formation of goodwill is relevant due to the possible impact of recognizing its value on the company's balance sheet structure. In this sense, the objective of this research is to investigate the influence of manager characteristics on the recognized value of goodwill in publicly traded companies on the B3 exchange, which have undergone M&A processes. To achieve the proposed objective, publicly traded companies with shares traded on the Brazilian stock exchange, called B3 (Brasil Bolsa Balcão), were selected. To compose the database with the analyzed variables, information from the balance sheet reports of all companies on the B3 exchange between the periods of 2010 and 2021 was collected to verify and catalog companies that recognized values as goodwill. After defining which statements have these records, the explanatory notes in financial reports were analyzed to collect transaction values in M&A operations. Additionally, other relevant information was validated and manually collected. Managerial information was obtained from non-financial reports and/or through manual search on various websites. The final sample of the research comprises 281 companies. Multivariate regression was used to estimate the impact of financial incentive and personal characteristics of managers on the recognized value of goodwill. The results confirmed the positive association of the variable of received bonuses and the negative association of the variable of age with the recognized value of goodwill. The findings of the research contribute to the discussion of the subject from the perspective of cognitive, empirical, and personal values, as it relates to the dynamics of decision-making based on managerial characteristics.Item Características dos fundos de pensão e de suas patrocinadoras que influenciam o funding: evidências do mercado brasileiro(Universidade Federal de Goiás, 2021-04-15) Moraes Filho, Osmar Pereira de; Rech, Ilírio José; http://lattes.cnpq.br/5540005217517516; Rech, Ilírio José; Pereira, Antonio Gualberto; Botinha, Reiner AlvesThe objective of this dissertation is to verify which characteristics of pension funds and their sponsors influence the level of funding of BD plans. The research is based on the financial corporate perspective, which presupposes that pension funds are managed for the benefit of the shareholders of the sponsoring companies. Two databases were used: the first with data from the sponsors, in the period from 2010 to 2019; and the second, with data from pension funds, in the period from 2010 to 2018, with the 2019 cut due to lack of data. For the investigation of the influences, we used univariate nonparametric (descriptive and Wilcoxon- Mann-Whitney test), bivariate (Spearman correlation coefficient), and multivariate (quantile regression) statistical techniques. Regarding the characteristics of the sponsors that influence funding: the level of insolvency and corporate governance, showed negative influence, while the market risk and the total remuneration of executives showed positive influence. Within pension funds: the risk (after control of other variables in the multivariate analysis) and the return on investments showed positive influence over funding, while the remuneration of the directors and the percentage of members of the deliberative board elected by the participants negatively influence funding. Regarding the actuarial premises, there was a difference in the premises reported by the sponsors and their pension funds, mainly in the premises: interest rates, retirement and family composition. The research contributes mainly to the following stakeholders: to investors, assisting them in understanding funding policies, therefore improving the pricing of pension components; to creditors, assisting the understanding of funding policies, therefore, improving the assessment of the impact of supplementary pension on the debtors' ability to pay; for regulators, pointing out possible improvements of the standards, in order to approximate the rules of the CPC and PREVIC; finally, for employees, as inappropriate fundings may compromise employee benefit payments.Item Fatores determinantes de book-tax differences nas empresas da cadeia produtiva do agronegócio(Universidade Federal de Goiás, 2022-08-11) Papacosta, Bárbara Tonaco; Rech, Ilírio José; http://lattes.cnpq.br/5540005217517516; Rech, Ilírio José; Zanolla, Ercílio; Lima, Nilton CesarThe objective of the present study is to verify the determining factors of book-tax differences (BTD) in companies in the agribusiness chain. In this way, the influence of internal characteristics of companies, of the agribusiness production chain (structural factor) and of tax expenditures (factor at country level) on BTD total, temporary (BTDT) and permanent (BTDP) was verified. As dependent variables, BTD, BTDP and BTDT were used. As independent variables, the links in the chain (upstream, core and downstream), profitability, change in fixed assets, sales variation, presence of biological assets, R&D investiment and liquidity were used as proxies for determinants. Data were extracted from the Thomson Reuters Eikon database and analyzed using panel data regression and hierarchical linear model (HLM). With the help of the NAICS classification, companies with shares on the stock exchange of eight countries in the period 2012 to 2020 were selected. The determining factors were analyzed considering the total and segmented sample according to the activity developed in the production chain. In companies with upstream activity, profitability, the pandemic period and tax expenditures can be considered as determining factors of BTD and BTDP. In the core, the change in fixed assets, sales growth, profitability, liquidity and tax expenditures were identified as determining factors for BTD and BTDP, while in companies with downstream activity, profitability, liquidity, debt and interaction between debt and biological assets were confirmed. As for BTDT, only the change in fixed assets and liquidity were considered determining factors in companies with upstream activities, while, in the core and downstream activities, only profitability. Considering the total sample, it was found that profitability, liquidity, debt, pandemic period, size, tax expenditures, presence of biological assets and the interaction between profitability and R&D are determining factors of BTD and BTDP in agribusiness. As for BTDT, sales growth, profitability, liquidity, debt, tax expenditures, investments in R&D and its interaction with profitability were revealed as determining factors. The multilevel analysis did not confirm the structural factors as determinants of BTD, BTDT and BTDP. The study contributes to the decision making of investors and makers of government policies focused on agribusiness.Item Contribuição do popular financial reporting para a compreensibilidade da informação contábil em universidades públicas brasileiras(Universidade Federal de Goiás, 2023-03-07) Santos Filho, Manoel Francelino dos; Rech, Ilírio José; http://lattes.cnpq.br/5540005217517516; Rech, Ilírio José; Machado, Michele Rílany Rodrigues; Zuccolotto, RobsonImproving the comprehensibility of accounting and financial information in the public sector can stimulate citizen interest in checking government actions more closely, democratically bringing them closer to active participation in the public sector. In this context, the main objective of this study was to investigate the contribution of popular financial reporting - PFR in improving the understanding of accounting information by users of accounting at Brazilian public universities. The research was based on aspects of the Theory of Communication, and covered subjects that dealt with transparency in Public Administration, disclosure of accounting information in the public sector, and the PFR. The target audience consists of employees and students from the Federal University of Goias – UFG and the Federal University of South and Southeast Para – Unifesspa. Data were collected via Google's electronic questionnaire, in person, and via email, from August 27 to October 23, 2022. Methodologically, an approach was used with qualitative analysis, interpretation of information and descriptive texts from the perception of the survey respondents, and quantitative analysis, through statistical techniques that included descriptive statistics and inferential statistics. The results showed that the information reported through popular financial reporting was more comprehensible than that presented in traditional accounting reports, suggesting that the PFR has a better understanding capacity than the current reports. Also, regarding the PFR, better user satisfaction rates were observed regarding aspects related to clarity, format, form, appearance, and usefulness when compared to traditional accounting reports. In addition, it was possible to present two basic characteristics for the elaboration and presentation of the PFR: formal characteristics and content characteristics. It contributes to the discussion about the elaboration and use of the PFR, in addition to demonstrating that this type of report can help to improve comprehensibility and transparency within the scope of Brazilian public universities.