Banca de DEFESA: ANNANDY RAQUEL PEREIRA DA SILVA

Uma banca de DEFESA de MESTRADO foi cadastrada pelo programa.
STUDENT : ANNANDY RAQUEL PEREIRA DA SILVA
DATE: 11/11/2022
TIME: 09:00
LOCAL: Videoconferência
TITLE:

CHARACTERISTICS OF BRAZILIAN CEOS AND RESULTS MANAGEMENT

KEY WORDS:

Top Theory. Agency Theory. Theory of Accounting Choices.

PAGES: 63
BIG AREA: Ciências Sociais Aplicadas
AREA: Administração
SUBÁREA: Ciências Contábeis
SUMMARY:

This research, supported by Agency Theory, Senior Theory and Accounting Choices Theory, aimed to investigate the relationship between the specific characteristics and skills of Brazilian CEOs (Chief Executive Officer) and Earnings Management (GR). For this, the time lapse from 2016 to 2019 was used, comprising the non-financial companies listed in Brasil, Bolsa, Balcão (B3). The characteristics studied were: Remuneration, Duality, Age, Gender, Education, Term of Office, Participation in Board of Directors (CA) Meetings and CEO Familiarity. The information regarding the data of the CEOs was collected in the Reference Form (FR) available on the B3 website, and the others in the Economática® database. The EM was measured by discretionary accruals, using the model of Pae (2005), thus, a sample of 198 companies was used and a regression was performed using the Pooled model. Regarding the descriptive statistics, it was found that the average remuneration of the Brazilian CEO is R$3,833,894.00, they have an average of 53 years and a term of office of around two years. Brazilian companies had an average size of 14.57, average ROIC (Return on Invested Capital) of 4.31, average leverage of 0.89 and average age of 47 years. For the dummy variables, it was found that 45.92% of Brazilian CEOs hold the role of director and chairman of the board, 97.89% are male, only 29.34% of CEOs participate in Board meetings and 26.44 % have family ties with the company. For the BigFour and Corporate Governance (GC) variables, 73.42% of Brazilian companies are audited by BigFour and 58.55% are included in one of the different GC levels. Regarding the training area of CEOs, the business area (Administration, Accounting Sciences or Economics) represented only 33.28% of the training of CEOs. As for the results of the econometric model, it was found that significant results were found for three variables: Duality (DUAL), Term Time (MAND) and Familiarity (FAM), confirming the hypotheses H2, H6 and H8, however, the variables Remuneration ( REM), Age (IDA), Gender (GEN), Training Area (FORM) and Participation in Board meetings (REU) were not statistically significant, leading to the non-acceptance of hypotheses H1, H3, H4, H5 and H7. In this way, it is concluded that the only variables that impact EM in the Brazilian companies studied is the CEO having dual positions, being in the early years of the mandate and being familiar, going against what the High-Echelon Theory defends, that all other specific traits and abilities influence the GR.

COMMITTEE MEMBERS:
Interno - 1561014 - ADILSON DE LIMA TAVARES
Presidente - 2241320 - ATELMO FERREIRA DE OLIVEIRA
Externa à Instituição - Kallyse Priscila Soares de Oliveira - UFERSA