Editorial V. 20, N. 1, 2017

ID: 44928

Authors: Rafael Barreiros Porto.

Source: Contabilidade, Gestão e Governança, v. 20, n. 1, p. 1-1, January-April, 2017. 1 page(s).

Document type: Editorial (Portuguese)

Value Relevance of Investment Properties: Evidence from the Brazilian Capital Market

ID: 44929

Authors: Ketlyn Alves Gonçalves, Lorena Conegliam, Carlos Henrique Silva do Carmo.

Source: Contabilidade, Gestão e Governança, v. 20, n. 1, p. 2-19, January-April, 2017. 18 page(s).

Keyword: Capital markets , Investment property , Value relevance

Document type: Article (Portuguese) Show Abstract

This study investigates the relevance to the capital market of the assets recognized as investment properties of companies listed on the BM&F BOVESPA, in the period from 2011 to 2014. The research conducted was based on the Ohlson model (1995) and panel analysis was carried out using linear regression with POLS and Fixed and Random Effects estimators. Two hypothesis were made: (i) that Earning and Equity generate accounting information relevant to investors; and (2) that Earning, Equity and Investment Property generate accounting information relevant to investors, assuming that investment properties have incremental effect on the relevance of this information relative only to earning and to equity. Both hypotheses were rejected, so it is concluded that Investment Property assets are not of value relevance in the determination of share price and do not influence the decision making of users of accounting information. The study adds to the limited literature on the value relevance of Investment Property, permitting a better understanding of the impact of accounting disclosures used by companies on their market value.

Uncertainty Expressions in Accounting Standards: Is There Any Effect of Time in the Differences of Perception?

ID: 44930

Authors: Rodrigo Fernandes Malaquias, Thalyson Renan Bitencourt Machado, Fernanda Franco de Sá.

Source: Contabilidade, Gestão e Governança, v. 20, n. 1, p. 20-37, January-April, 2017. 18 page(s).

Keyword: Financial Instruments , IASB , Uncertainty Expressions

Document type: Article () Show Abstract

This paper examines whether differences in the perception of uncertainty expressions persist over time. The empirical analysis of this question involved two approaches: quantitative (with tests to compare means, medians, regression analysis with ordinary least squares and quantile regression), and qualitative, with interviews. Principal findings are that the differences in the perceptions of participants with respect to uncertainty expressions were not statistically significant, which differs from the findings reported in previous studies. This may be indicative of a tendency toward elimination of potential differences in the interpretation of accounting standards over time.

Level of CPC 29 Biological Assets: Analysis of Determining Factors in Brazilian companies

ID: 44931

Authors: Daniel Ramos Nogueira, Paulo Alexandre da Silva Pires.

Source: Contabilidade, Gestão e Governança, v. 20, n. 1, p. 38-54, January-April, 2017. 17 page(s).

Keyword: Accounting , Agriculture , Biological Assets , Conformity , Disclosure

Document type: Article (Portuguese) Show Abstract

The research question guiding this research is "What are the Determining Factors of CPC 29 Disclosure in Brazilian Companies?". In this aspect, the research objective was to evaluate the main factors that affect the disclosure of information related to biological assets. For this, 5 variables highlighted in the literature were selected as evidence influencers. The sample was composed of Brazilian companies with biological assets in the Balance Sheet. From this list, financial statements, explanatory notes, corporate management level and independent auditing company for the 6 years (2010 to 2015) were collected. With the collected information, the dependent variable (Disclosure level of CPC 29) and the independent variables of each year were verified. At the end (after exclusions), 100 observations were analyzed. The results indicated that the variables Size, Representativeness of Biological Assets and Effectiveness of OCPC 07 positively impacted the level of Disclosure. The first two confirmed the predicted hypothesis and OCPC 07 presented a relation that was different from what was expected, showing an increase and not a reduction in the number of disclosures in the years 2014 and 2015.

Does Tangibility Influence Capital Structure Adjustment Speed?

ID: 44932

Authors: José Milton Almeida da Silva, Wilson Toshiro Nakamura, Elaine Vieira Nakamura.

Source: Contabilidade, Gestão e Governança, v. 20, n. 1, p. 55-71, January-April, 2017. 17 page(s).

Keyword: Adjustment speed , Capital structure , Tangibility , Trade off theory

Document type: Article (Portuguese) Show Abstract

This study investigates the influence of the degree of tangibility on the velocity of adjustment towards the target debt, based on dynamic trade off theory. In view of the lack of consensus among researchers, with previous studies showing a diverse range of findings, the topic is a relevant one. We apply the partial adjustment model with Arellano-Bond and Blundell-Bond estimators to dynamic panel data in order to determine the rate of adjustment of the indebtedness of non-financial companies of the United Kingdom in the 10-year period from 2005 through 2014. Three samples are used. The first is composed of 1,045 companies, the second of the 309 companies with the highest degree of tangibility, and the third of the 309 companies with the lowest degree of tangibility. The empirical results present statistically significant evidence of the influence of the degree of tangibility on the speed of adjustment of the level of indebtedness. The speed of adjustment for the group of companies with greater tangibility is less than that of the group of companies with lesser tangibility, when the BlundellBond model - whose estimators are more efficient and less biased - is used. These results can contribute to the better management by companies of their capital structure.

The Influence of Performance Expectancy and Effort Expectancy on the Use of a Purchasing Application in Brazil

ID: 44933

Authors: Cássio Miroma Reis Gomes, Josivania Silva Farias.

Source: Contabilidade, Gestão e Governança, v. 20, n. 1, p. 72-90, January-April, 2017. 19 page(s).

Keyword: Effort expectancy , IT Adoption , Performance expectancy , User attitude , UTAUT

Document type: Article (Portuguese) Show Abstract

Based on the Unified Theory of Acceptance and Use of Technology (UTAUT), this work investigated the influence of performance expectancy (PE), effort expectancy (EE), and sociodemographic user profile on the use of a mobile software application for retail purchases in the Brazilian context. We are living in a "mobile" world, so it might be expected that user experience with such technologies would be positive. With 171 valid questionnaires, linear regression, factor analysis, means and standard deviations, and nonparametric statistical techniques were used in the data analysis. Findings revealed that frequent users of the software application have considerable levels of performance expectancy (PE) and effort expectancy (EE). Gender was found to influence attitudes with respect to EE but not those with respect to PE. Experience reported with the application had no significant correlation with cell phone use for either PE or EE, although it was significantly correlated with the frequency of use of mobile technologies in general. Inferential tests with linear regression showed that age and PE had a positive influence on the use of the application but that EE had a negative influences on use. This study supports the importance of UTAUT for research on technology adoption in geographical contexts different from those usually studied by the proponents of this theory.

Strategic Decision-Making: Research Mapping from Exploratory Factor Analysis and Multidimensional Scaling

ID: 44934

Authors: Ivano Ribeiro, Fernando Antônio Ribeiro Serra, Márcio Luiz Marietto, Bernardo Paraiso de Campos Serra.

Source: Contabilidade, Gestão e Governança, v. 20, n. 1, p. 91-112, January-April, 2017. 22 page(s).

Keyword: Decision-making , Strategy , Upper Echelons

Document type: Article (English) Show Abstract

To understand the connection between authors, concepts and theories that address strategic decision-making, in this article the citations and co-citations of works published up to 2014 were analyzed. The sample consists of 489 articles published in international periodicals included in the Web of Science-ISI Web of Knowledge database. The search was conducted using key words that enabled the identification of the highest possible number of articles on the subject in question. Through Multidimensional Scaling (MDS) and Exploratory Factor Analysis (EFA), the conceptual and theoretical relationships involved in these studies were identified. The results show that from 1980 to 2014 three different factors are highlighted: the first has to do with studies on conflict; the second factor is the Top Management Team (TMT) and decision-making; and the third is related to processes. More recently (2013-2014), studies on strategic decisionmaking are converging towards analysis of conflict and process, composition and control, with Upper Echelon Theory being maintained as the central theory in these studies. This finding is the main contribution of this article.

Comparability of Accounting Choices in Investment Properties of BM&FBOVESPA and NYSE Listed Companies

ID: 44935

Authors: Reiner Alves Botinha, Sirlei Lemes.

Source: Contabilidade, Gestão e Governança, v. 20, n. 1, p. 113-132, January-April, 2017. 20 page(s).

Keyword: Accounting Choices , Comparability , Investment Properties , T Index

Document type: Article (Portuguese) Show Abstract

This research aimed to identify the consequence of the accounting choices made by public companies managers listed on the NYSE and the BM&FBOVESPA, in relation to the subsequent measurement of investment properties, through identifying the comparability degree of financial reports from the year 2013. The degree of comparability was calculated using the T index Taplin. In this paper, it was observed that, in a more conservative way, to both stock exchanges, there was increased use of the cost method for the sample companies. Even with the existence of accounting choices, it is considered that there is comparability between accounting practices in the recognition of investment property from the companies listed on the BM&FBOVESPA and NYSE. However, the degree of comparability was presented low for the international comparability and in the medium, near the lower limit for comparability per stock exchange. A curious fact is the presentation of a greater degree of comparability for the companies listed on the BM&FBOVESPA in relation to listed on the NYSE, which is a more developed capital market. In the analysis of the comparability by sector, it was observed a medium degree close to the upper limit. It has also been inferred the low comparability degrees identified may be related to the different choices made by the companies regarding the measurement methods.

Relationship Between Strategy Shaping and Management Control Systems

ID: 44936

Authors: Marcia Athayde Moreira, Danilo Lacerda Borges, Ana Margarida Santiago.

Source: Contabilidade, Gestão e Governança, v. 20, n. 1, p. 133-152, January-April, 2017. 20 page(s).

Keyword: Business strategy , Construction , Control levers , Management control systems , Strategy shaping

Document type: Article (Portuguese) Show Abstract

This research analyzed the interactions between strategy shaping and management control systems, having as parameter of analysis the system of levers of control recommended by Simons (1995). A multiple case study was carried out of two companies in the construction sector in Brazil. It was found that these companies use generic niche strategies to sell the properties they have built. One of these companies uses long-term planning while the other is guided by short-term perspectives and perceptions. Both companies employ various formal control tools. It was noted, however, that some of these tools exist for the purpose of meeting the requirements of standards and audits established by certifying bodies and are not being used as tools for decision making. It was thus concluded that the relationship between managerial controls and the shaping of strategy in these organizations occurs in a passive way, with the management control systems serving as guarantors of the accomplishment of organizational strategies and goals, but not being used effectively to identify opportunities or as a source for shaping new strategies.

Knowledge, Skills and Attitudes Developed by Accounting Students Through Project Based Learning

ID: 44937

Authors: Yuri Gomes Paiva Azevedo, Aneide Oliveira de Araújo, Vanessa Câmara de Medeiros.

Source: Contabilidade, Gestão e Governança, v. 20, n. 1, p. 153-174, January-April, 2017. 22 page(s).

Keyword: Accounting Research and Education , Business Budget , Project Based Learning

Document type: Article (Portuguese) Show Abstract

This study aims to identify the knowledge, skills and attitudes developed by accounting students through Project Based Learning (PBL) in the Business Budget course. The data was collected from semi-structured questionnaires applied to 54 students in that course and, after tabulation for descriptive analysis, a table crossing was made in order to identify, through Chi-square test, if there is a statistically significant relation between the individual’s professional activity in the accounting and their perception regarding the importance of taking that course utilizing the PBL method. Among the main results, it can be noted that most important knowledge acquired by the students with the use of PBL took place in the accounting and management areas. The skills which showed the greatest development were teamwork, planning and systematic overview, whereas the greatest developed attitudes were commitment, proactivity, and respect for another person’s opinion. The conclusion, therefore, is that the use of PBL can be considered positive, although no statistically significant relation was found between the professional activity in the accounting area and the perception of the importance of taking the course utilizing the PBL method.