Editorial

ID: 33961

Authors: Marcelo Alvaro da Silva Macedo.

Source: Sociedade, Contabilidade e Gestão, v. 5, n. 3, p. 1-3, December, 2010. 3 page(s).

Document type: Editorial (Portuguese)

A relação entre o perfil profissional dos alunos e as áreas temáticas de suas dissertações: uma pesquisa no Mestrado em Ciências Contábeis da FACC-UFRJ

ID: 33962

Authors: Rodrigo Barreiros Leal, Carlos Roberto Kerber, Ronaldo Francisco dos Santos, Anderson Chaves da Silva, Ruthberg dos Santos.

Source: Sociedade, Contabilidade e Gestão, v. 5, n. 3, p. 7-23, December, 2010. 17 page(s).

Keyword: Dissertation , Professional Profile , Thematic Area

Document type: Article (Portuguese) Show Abstract

The study aims to investigate the relationship between the professional profile of the studentsand the thematic area chosen in the dissertations of the graduate stricto sensu program inaccounting of the School of Business and Accounting of the Federal University of Rio deJaneiro – FACC/UFRJ. The research question is the finding of a possible influence of theprofessional profile of the author under the theme of his dissertation. The theoretical platformcomprises a historical and contextualization of that master's program, as well as researchstudies of accounting. Seventy one dissertations were considered, between the years 2000 and2009 (first semester) and three profiles defined as: public, private and student. In this context,we used 14 thematic areas, inspired by the classification used by The American AccountingAssociation - (AAA), The European Accounting Association - (EAA) and by majoruniversities in the U.S. and Europe, adapted to the FACC-UFRJ. The Research is classified asexploratory, bibliographic and documentary, with quantitative evaluation. The necessary datawere collected, tabulated and then analyzed using the statistical technique calledcorrespondence analysis (ANACOR). As result, there was a tendency for authors withprofessional profiles "public" choose themes related to management control, accountinginformation systems and public accounting. Added to this, the observation of other trends forthe other professionals profiles surveyed, the private sector professionals and the students,regarding the choice of the thematic area of their works. Stick to highlight the limitation of theresearch in relation to the scope of the findings, given that the study is restricted to themaster's program in a particular university. Therefore, it is suggested that further research inother educational institutions, as well as verification of other factors influence the choice oftheme, for example, the academic faculty.

Imagem de um conselho profissional: estudo empírico sobre um caso brasileiro

ID: 33963

Authors: Julio Cesar de Melo Cidade, Frederico Antonio Azevedo de Carvalho, Paulo Roberto da Costa Vieira.

Source: Sociedade, Contabilidade e Gestão, v. 5, n. 3, p. 24-39, December, 2010. 16 page(s).

Keyword: Accounting Professional Council – Brazil , Image , Institutional Marketing , Professional Council , Structural Equation Modeling

Document type: Article (Portuguese) Show Abstract

The analysis and measurement of corporate image can be useful in supporting decisionmakers in all organizations, especially nonprofits, such as professional council, for whichtypically lack reliable indicators to support decision. Because of the absence of a valid andreliable instrument to provide this measurement, this paper presents a new image scalingsupport with structural equation (SEM). The proposed scale is based on a previous modelwith two factors studied by Folland, Peacock and Pelfrey (1991), Peres (2004) and Carvalho(2009). The empirical evidence comes from a research with the 263 graduate students inaccounting in the state of Rio de Janeiro, Brazil. In the confirmation step the MEE approachratified the existence of two factors - Service and Institutional - which then define the imageto the investigated council. This result can be considered unique, since it could not beidentified in the reviewed literature, no previous study, Brazilian or otherwise, that seeks todefine a specific image scale for professional councils. At the same time, the article can beconceived as the first empirical test of the qualitative model proposed by Folland-PeacockPelfreyand this news probably also occurs in international terms. In summary, the resultsshow that the scale is valid and reliable, so that the approach developed here can be applied toother samples and other professional councils.

Qualidade da auditoria no Brasil: um estudo sobre a atuação das auditorias independentes denominadas Big Four

ID: 33964

Authors: José Emerson Firmino, Luzivalda Guedes Damascena, Edilson Paulo.

Source: Sociedade, Contabilidade e Gestão, v. 5, n. 3, p. 40-50, December, 2010. 11 page(s).

Keyword: Audit Quality , Impairment , International Standards of Accounting

Document type: Article (Portuguese) Show Abstract

The independent audit, as informational intermediary in contractual relations between agentand principal, has a fundamental role in the process of convergence to the internationalstandards of accounting. The efforts to IFRS adoption became a great magnitude issue to theEnterprises, and it is advisable, at this time, researching the quality of audit services byanalyzing the technical capacity of professionals based on their judgments of these standardsapplication. Given this context we have the following research question: The Big Fouraccounting firms have uniform quality, based on technical criteria of its trial at the appropriateadoption of CPC 01 by listed companies? The main objective of this research is to analyze theexistence of a uniform quality of the services performed by independent auditing companiesnamed Big Four. The study was conducted by examining the statements, explanatory notesand the trial demonstrated in the advice of independent audits issued by the Big Four on thefinancial statements of Brazilian companies in the telecommunications industry, based on theadoption of the standard issued by the Committee on Accounting Pronouncements (CPC),which discusses the Impairment of Assets (CPC 01). The study results show that there is nouniformity in the quality of audits conducted by the Big Four, and open up opportunities forfurther research to develop and to improve the auditors’ techniques, an important professionin the country's economic context.

A influência dos gastos do FUNDEB sobre o índice de pessoal e encargos sociais determinado pela lei de responsabilidade fiscal: um estudo de caso no município de Barra de Santa Rosa/PB

ID: 33965

Authors: Dimas Barrêto de Queiroz, Renata Paes de Barros Camara, Luzivalda Guedes Damascena, Milton Jarbas Rodrigues Chagas, Karla Roberta Castro Pinheiro Alves.

Source: Sociedade, Contabilidade e Gestão, v. 5, n. 3, p. 51-66, December, 2010. 16 page(s).

Keyword: Fiscal Responsibility Law , FUNDEB , Personnel and Social Charges Expenses

Document type: Article (Portuguese) Show Abstract

This paper proposes a discussion of conflicts between political partners and Brazilian taxpolicies. On one hand, there FUNDEB, whose goal is to expand the service to the public basiceducation, determining that at least 60% of those Fund resources should be spent forcompensation of professional teachers. Moreover, there is the Fiscal Responsibility Law,which restricts spending on personnel and social charges expenses to 54% of net currentrevenue collects annually by municipalities. The aim of this paper is to assess the influence ofspending on professional teachers of FUNDEB on personnel expenditure of the municipalityof Barra de Santa Rosa/PB. This city was chosen on the basis of extrapolation of thepersonnel expenditure index by the LRF in the years of the FUNDEB, ie in the years 2007,2008 and 2009. This is a case study, evaluated from the quantitative perspective andcharacterized as descriptive as to the objectives. The technique consists of a regressionanalysis to ascertain the degree of correlation between the variables, measuring the level ofsignificance of regression coefficients using the t-student test. The data were processed by thestatistical package E-Views 5.0. The study revealed a high correlation between variables, asregression analysis revealed that 91.75% of total personnel expenditures is explained by themunicipality spent with professional teachers of FUNDEB. Only the personnel expenses ofFUNDEB equivalent on average to 29.32% of the index allowed by the LRF for the city.

Controles internos em pequenas omunidades católicas de Florianópolis

ID: 33966

Authors: Laura Letsch Soares, Ernesto Fernando Rodrigues Vicente, Rogério João Lunkes.

Source: Sociedade, Contabilidade e Gestão, v. 5, n. 3, p. 67-83, December, 2010. 17 page(s).

Keyword: Accounting in Nonprofits Organizations , Ecclesiastical Accounting , Internal Controls on Churches

Document type: Article (Portuguese) Show Abstract

Brazil is a country with largest number of Catholics in the world. In contrast, we observe theemergence and growth of new religions. The people search services offered by religiousorganizations and is willing to contribute financially to the maintenance of their temples.Brazil is a country that grants freedom of belief, it ensures the free exercise of religiousworship and ensures protection of places of worship and their liturgies. However, being asecular country cannot support any religion specifically, being forbidden, constitutionally,maintenance of dependency relations or alliances. The cost of the promotion of religiousorganizations rests with their followers. The recent corruption scandals linked to religiousorganizations of various faiths, referring to not declared resources and misuse of fundsdonated by believers, motivated this work with the small Catholic communities to verify theexistence of internal control procedures to ensure the safeguarding of assets entrusted to theseorganizations and see if they offer true transparency on the use of funds received as donations.The study was conducted in communities linked to a parish in the municipality ofFlorianópolis, by applying a questionnaire to collect data. The results were the profileidentification of the staff responsible for managing financial resources, the identification ofaccounting and internal control adopted and the identification of weaknesses, concluding thatdespite the existence of failures, the communities adopt adequate internal control procedures.

O impacto dos fatos relevantes no mercado de capitais: um estudo dos fatos publicados pelas empresas participantes do novo mercado do segmento Bovespa

ID: 33967

Authors: Vagner Antônio Marques, Cynthia Oliveira Lara, Laís Coelho Ayala, Wagner Moura Lamounier.

Source: Sociedade, Contabilidade e Gestão, v. 5, n. 3, p. 84-100, December, 2010. 17 page(s).

Keyword: Information Approach , Relevant Facts , Study Events

Document type: Article (Portuguese) Show Abstract

This study aims to determine if the publication of relevant facts significantly impacts stockprices of companies participating in the Novo Mercado segment of Bovespa. Studies on theimpact of accounting information in capital markets have intensified since the works of Balland Brown (1968) and Beaver (1968). In this paper, we applied the technique to study eventsfrom the daily time series of the last 12 months preceding the publication of the relevant factsof 20 companies participating in the Novo Mercado. The events studied were the publicationsof the relevant facts, which totaled 92 events published during the year of 2009. The studyresults showed that in only 15 events, the publication of the relevant facts influenced the stockprices, particularly in companies Brookfield (1), Dasa (1) Estacio (1), Gafisa (2), JBS (1),MMX (3), Petrobras (2), Tegma (1), Totvs (3). In the other (78), publication of relevant factsdid not significantly influence the behavior of returns, which confronts the results of somestudies on the EMH in its semi-strong form. When analyzing the cumulative returns together,the test (t) showed that in periods t-₁ to t+₅ there is no differentiated abnormal returns thatwould enable state on the change in prices due to the publication of the relevant facts.

Uma análise das aquisições de laboratórios no mercado farmacêutico brasileiro

ID: 33968

Authors: Ricardo Toshio Yugue, Leandro José Morilhas, Adalberto Américo Fischmann, Marcello Vinicius Dória Calvosa.

Source: Sociedade, Contabilidade e Gestão, v. 5, n. 3, p. 101-117, December, 2010. 17 page(s).

Keyword: Acquisitions , Growth Strategies , Pharmaceutical Market

Document type: Article (Portuguese) Show Abstract

The Brazilian market for generic drugs is growing rapidly, which has attracted the attention ofcompanies already operating in the sector and causing changes in its structure through growth strategies based in mergers and acquisitions. This paper presents and discusses some of theenvironmental factors that is driving these changes through documental analysis and a casestudy. For this, the main question is how to identify the characteristics of the Brazilianpharmaceutical industry after the introduction of generic drugs, as well as key strategiesadopted by companies in the industry. The conclusion is that there are a number of historicaland situational aspects that has been helping the growing market for generic drugs in Brazil.Moreover, the mergers and acquisitions of laboratories that already have local market share ofgenerics drugs appears to be an attractive way for major global competitors as a growthstrategy and, often, to maintain competitiveness in the long term. Anyway, the current rates ofgrowth in generic drug market are attractive and bring many opportunities and also threats tothe pharmaceutical laboratories. The strategic possibilities identified range from theaggressive growth driven by the performance in specific niches.

A dinâmica do mercado farmacêutico brasileiro segundo o modelo das estratégias genéricas de Porter

ID: 33969

Authors: Marco Antonio Ferreira de Souza, Rogério Pinto Torres.

Source: Sociedade, Contabilidade e Gestão, v. 5, n. 3, p. 118-132, December, 2010. 15 page(s).

Keyword: Competitiveness , Pharmaceutical , Strategic Positioning , Strategy

Document type: Article (Portuguese) Show Abstract

The pharmaceutical industry stands out as one of the most innovative and profitable amongthe productive sectors. The defense of this position is aggressively through the creation ormaintenance of barriers to entry. A large number of mergers and acquisitions has taken placeamong market leaders companies, which is a significant influence factor to the increasingrivalry in the pharmaceutical industry. Large pharmaceutical companies have followed this strategy as a way of being able to bearthe high costs and risks involved in the research and development. The Brazilianpharmaceutical market presents itself as one of the largest and most attractive of the world,but is dominated by large transnational companies. In recent years, important changesoccurs, such as the Patent Law and the introduction of generic drugs, in order to give acharacter even more competitive for this industry, by requiring each competitor to establishwell-defined competitive strategies to maintain and/or increase their market share. TheBrazilian pharmaceutical industry has, in its dynamics, strong market orientation, since thestrategies developed extensively analyze competitors and the knowledge of customer needs.This paper aims to show, from the theoretical construct of Strategic Positioning, with stronginfluences of the Michael Porter contributions, that, in the same industry, are the differentcompetitive strategies, which vary depending on the niche of expertise, whether the brandedsegment, generic or Over-the-counter drugs (OTC). It also seeks to highlight the factors thatguide the strategic planning of pharmaceutical companies, directing their actions to themarket.

Análise do efeito dia da semana e das modelagens ARCH/GARCH em séries de medidas de liquidez e retorno do índice Bovespa

ID: 33970

Authors: Elisa Elaine Moreira Teixeira, Francisco Vidal Barbosa, Francis Angelo Marques de Almeida.

Source: Sociedade, Contabilidade e Gestão, v. 5, n. 3, p. 133-148, December, 2010. 16 page(s).

Keyword: ARCH/GARCH Models , Day of the week Effect , Ibovespa

Document type: Article (Portuguese) Show Abstract

This study aimed to model series with characteristics of high volatility and structural breakand to verify the existence of seasonal patterns depending on the day of the week in theBrazilian stock market. According to the efficient market hypothesis, the asset price reflectsthe consensus of investors regarding the expected return of this asset. Thus, it would not bepossible to obtain abnormal returns trading any asset building on information from past series,considering that these data would be available to all market players. However, empiricalstudies have found that, at some moment, markets are not efficient and, therefore, there aredistortions in asset prices, causing anomalies. One of these is the day of the week effect, thatconcerns the fact of the daily returns of risky assets are different throughout the day of theweek. To verify this effect, were used in this article series on the Bovespa Index (IBOV), suchas amount of business, amount of securities and trading volume (liquidity measures) andreturn series (daily closing IBOV). Looked at the period between January 2007 and April2010. Regarding the modeling, we used the models of the ARCH/GARCH (Autoregressiveconditional heteroskedasticity). It was observed that the use, as suggested by the literature,proves quite efficient in the aspect of capturing the volatility over time and monitoring ofasymmetric shocks in the data. The found models met the parsimonious conditions to thepossible extent, and elimination of residual autocorrelation in all moments of time tested.Regarding the weekly seasonality, it was observed that there is a cycle that repeats itselfalmost similar in all series examined.