Editorial V. 11, N. 3, 2021

ID: 69502

Authors: Ricardo José Rocha Amorim, Francisco Marton Gleuson Pinheiro, Márcio Santos Sampaio.

Source: Revista de Gestão, Finanças e Contabilidade, v. 11, n. 3, p. 1-3, September-December, 2021. 3 page(s).

Document type: Editorial (Portuguese)

Mechanisms of corporate governance and key audit matters disclosed by firms listed on B3

ID: 69503

Authors: Francisca Yasmin de Aguiar Guedes, Lorena Costa de Oliveira Araujo, Márcia Martins Mendes De Luca, Denise Maria Moreira Chagas Corrêa.

Source: Revista de Gestão, Finanças e Contabilidade, v. 11, n. 3, p. 4-22, September-December, 2021. 19 page(s).

Keyword: Audit committee , Board of directors , Corporate governance , Key audit matters

Document type: Article (Portuguese) Show Abstract

The attributes of the board of directors and the audit committee, regarded as instruments of management and control, are crucial to the perception of corporate risk and may to some extent determine which key audit matters (KAMs) are disclosed. In this study, we evaluated the relationship between corporate governance mechanisms and KAMs disclosed in audit reports issued by 335 firms traded on B3 in the 3-year period 2016-2018. The collected information was analyzed with descriptive statistics, Pearson correlations and linear regressions on panel data. As a corporate governance control mechanism, the audit committee was found to attenuate corporate risk, influencing the auditor’s perception of corporate disclosure and, consequently, the number of KAMs reported. In addition, our results allowed to infer that CEO duality compromises the monitoring capabilities of the board of directors, increasing risk and affecting the choice and number of KAMs included in corporate reports.

A non-linear programming model for budgeting decision on new firms

ID: 69504

Authors: Lucas Rodrigues, Alex da Silva Alves.

Source: Revista de Gestão, Finanças e Contabilidade, v. 11, n. 3, p. 23-46, September-December, 2021. 24 page(s).

Keyword: Budget , Generalized Reduced Gradient , Non-Linear Programming , Small and Medium Enterprises , Venture Capital

Document type: Article (Portuguese) Show Abstract

Access to market information and difficulties to obtain external financing are traditional barriers to financial planning exercises that reflect the growth opportunities aimed by new high-tech companies from emerging markets. There is also a lack of studies that propose a robust methodological approach to deal with these issues. This article develops two decision support models based on the nonlinear programming algorithm GRG (Generalized Reduced Gradient). The model was applied in the context of capital budgeting in high-tech small and medium enterprises. The models use input information from three basic financial statements, which are the income statement, the cash flow statement and the balance sheet. This study provided insights into the trade-offs of capital-structure and value in high-tech firms operating in developing countries. The discussions and results obtained in the case study carried in this work can be helpful to the community of entrepreneurs, financial analysts, investors, and policy makers involved in the design of new financing mechanisms for startups.

IFRS 16 and its impacts on the financial information of rental companies: a study in the airline and retail sectors

ID: 69505

Authors: Juliane Simão de Andrade Silva, Inajá Allane Santos Garcia, Orleans Silva Martins.

Source: Revista de Gestão, Finanças e Contabilidade, v. 11, n. 3, p. 47-66, September-December, 2021. 20 page(s).

Keyword: Financial Information , IFRS 16

Document type: Article (Portuguese) Show Abstract

This study aimed to analyze the changes brought by the International Financial Reporting Standards 16 (IFRS 16) and its influences on the financial information republished in 2019, referring to the year 2018 in the airline transport (Azul and Gol) and retail sectos (GPA and Raia Drogasil). IFRS 16 changed the accounting for operating leases, which were evidenced only in the explanatory notes, as guided by the former International Accounting Standard 17 (IAS 17), bringing them into the balance sheet of lessees’ assets and liabilities. In this study, by means of documental and bibliographical research, the evolution of the financial statements of the companies was analyzed through vertical and horizontal analysis, after considering the accounting of IAS 17 operating leases within their balance sheets. The results show that the capitalization of operating leases in the accounting resulted in a positive variation in the assets and liabilities of the companies analyzed. The net income of the companies Azul, Gol and Raia Drogasil and the net result of GPA’s continuing operations were also negatively impacted because of the replacement of leasing expenses by depreciation and finance expenses, related to leasing. This replacement led to increases in the companies' operating income, however, due to the increase in financial expenses, the financial results decreased.

The impact of the variable financial situation on the propension to risk

ID: 69506

Authors: José Venâncio Ferreira Neto, Almiro Alexandre dos Santos Filho, Joséilton Silveira da Rocha, José Maria Dias Filho.

Source: Revista de Gestão, Finanças e Contabilidade, v. 11, n. 3, p. 67-84, September-December, 2021. 18 page(s).

Keyword: Certainty Effect , Financial Situation , Prospectus Theory , Reflex Effect , Risk Propensity

Document type: Article (Portuguese) Show Abstract

The objective of this research was to investigate the impact of the variable financial situation on the propensity to risk in the field of gains and in the field of losses. In this case, 87 students and former undergraduate and graduate students from the Accounting and Administration courses at the Federal University of Bahia (UFBA) participated in the study. Respondents gave their opinion about their risk preferences in two scenarios with identical questions, but simulating different financial situations, namely: low financial condition (scenario 1) and high financial condition (scenario 2). The Wilcoxon test was used for analysis. Participants were more prone to risk in scenario 2. The differences between scenarios were statistically significant at 0.00% in the field of gains and 4.7% in the field of losses, indicating that the greater the individual's wealth in relation to the value put at risk, the greater their propensity to risk. The wealth variable also caused anomalies in the certainty effect and in the reflection effect of the prospect theory, as people were more prone to risk in the field of gains than in the field of losses, especially in scenario 2.

The influence of the internal organizational environment on risk management

ID: 69507

Authors: Leander Luiz Klein, Ana Paula Brum Zavarise, Kelmara Mendes Vieira, Maria Manoela Cardoso dos Santos.

Source: Revista de Gestão, Finanças e Contabilidade, v. 11, n. 3, p. 85-107, September-December, 2021. 23 page(s).

Keyword: Administration , Internal Organizational Environment , Organizational Risk Management , Public Organization

Document type: Article (Portuguese) Show Abstract

This work aims to evaluate the influence of the internal organizational environment on the management of organizational risks in a public higher education institution. The method consists of a quantitative survey type research, whose data collection was performed through the use of a questionnaire. A valid sample of 684 respondents from the studied. The main results are the validation of the latent variables that constitute the dimensions of internal organizational environment and risk management. In addition, it was obtained as a basic result the confirmation of the central hypothesis of the research that the internal environment impacts positively on risk management. The study innovates by showing elements internal to the organization that can be taken as a basis for directing actions to reduce organizational risks and optimize results. The assessment and management of different factors of the internal organizational environment are essential, as they impact the performance of less usual activities in public institutions such as risk management.

Construction and evaluation of the results of the Business Model Canvas de application of a junior company in the city of Imperatriz - MA

ID: 69508

Authors: Eduardo dos Reis Silva.

Source: Revista de Gestão, Finanças e Contabilidade, v. 11, n. 3, p. 108-124, September-December, 2021. 17 page(s).

Keyword: Canvas , Contributions , Junior company , Model

Document type: Article (Portuguese) Show Abstract

This article seeks to elaborate the Business Model Canvas, a business model, of a junior company in Empress and evaluate the results of its application in relation to the knowledge of its members. For this research, the case study method was used, through quantitative and qualitative approaches, applying questionnaires to assess the interviewees' knowledge on the subject and build the nine (09) blocks of the Canvas. Therefore, the contributions of a structured, clarifying business model available to all employees and managers of a company were evidenced with regard to the level of knowledge about the services provided, available resources, the target audience, the partners, between others.

Viability analysis for implementing a crop-livestock system in a rural property in west Paraná

ID: 69509

Authors: Jociane dos Santos Costa Borato, Camila dos Santos Sassi, Eliana Cunico, Wanderson Dutra Gresele.

Source: Revista de Gestão, Finanças e Contabilidade, v. 11, n. 3, p. 125-142, September-December, 2021. 18 page(s).

Keyword: Agroforestry , Bovine cultivation method , Crop-Livestock Integration , Rural property

Document type: Article (Portuguese) Show Abstract

The livestock activity plays an important role in the country's economy and is represented by both small producers and large ranchers, both responsible for the competitiveness of Brazilian agribusiness. However, to have a financial return to the creators, efficient accounting management and extensive knowledge of the business are necessary. Thus, the aim of this study is to analyze the economic feasibility of implementing the crop-livestock system, compared to the current traditional system in a rural property, to maximize its results. Interviews, documentaries, and bibliographic research were used as data collection instruments. As for the results, the research is characterized as descriptive. After collection, data were subjected to variable costing and the break-even method. It was found that after the implementation of the crop-livestock system, some fixed costs were mitigated and, even though the variable cost increased, the total unit cost decreased, which allowed maximizing the farm's profits. As a managerial contribution, the article offers a detailed comparative application model for cost control between the conventional system and the crop-livestock system. Theoretically, it contributed to the discussion on characteristics of cost management in animal protein production activities.

Organizational innovation: experience in a higher education organization

ID: 69510

Authors: Platini Gomes Fonseca, José Raimundo Cordeiro Neto, Morjane Armstrong Santos de Miranda, Ernani Marques dos Santos.

Source: Revista de Gestão, Finanças e Contabilidade, v. 11, n. 3, p. 143-158, September-December, 2021. 16 page(s).

Keyword: Decision support system , Innovation in public service , Organizational innovation

Document type: Teaching Case (Portuguese) Show Abstract

The teaching case reports the experience of the Valer University that adopted a methodological innovation in public procurement, seeking, among other objectives: to provide greater linkage of the available budget to the University's final actions and to offer academic collegiate bodies, in a transparent and public way, the possibility of direct management of budget credits to make purchases that allow to meet sectoral demands, according to the priority established by them. For this, it developed a Decision Support System (DSS) in order to assist the organizational changes resulting from the implementation of the methodology in the public procurement of the University. Thus, the objective of the teaching report is to stimulate the debate on innovation in learning environments, emphasizing organizational innovations through the use of technology.