Banca de DEFESA: JISLENE TRINDADE MEDEIROS

Uma banca de DEFESA de MESTRADO foi cadastrada pelo programa.
DISCENTE : JISLENE TRINDADE MEDEIROS
DATA : 31/03/2017
HORA: 14:00
LOCAL: Auditório 01 do NEPSA II do CCSA/UFRN
TÍTULO:

ANALYSIS FORECAST AND RESULTS MANAGEMENT STRATEGIES USED TO AVOID NEGATIVE SURPRISES IN PROFITS

PALAVRAS-CHAVES:

Accounting information, forecasting analysts, earnings management.

PÁGINAS: 52
GRANDE ÁREA: Ciências Sociais Aplicadas
ÁREA: Administração
SUBÁREA: Ciências Contábeis
RESUMO:

Previous studies provide evidence that managers have incentives to achieve analysts' predicted profit and indicate that firms that meet analysts' earnings expectations may be managing their bottom line. Thus, the purpose of this study was to identify whether Brazilian companies listed on BM & FBovespa in the period from 2010 to 2015 that reached the results targets established in the consensus forecasts of financial analysts managed their results through real activities and / or through Discretionary accruals. For that, the levels of results management were estimated through discretionary operational and accrual decisions; while the surprise in the analysts' prediction was identified by the forecast error. In order to reach the objective of this research, we used the ordinary least squares (OLS) method with dummies for the year and sector. The results showed, first of all, that more than 50% of the companies listed on the BM & FBovespa, from 2010 to 2015, generally adopted practices of results management through real activity to increase the accounting result of the current period. Regarding the management of results through discretionary accruals, the results pointed out that managers have incentives to manage their results to achieve the profit predicted by financial analysts. As to the use of results management strategies to avoid spreading negative surprises in profits in relation to the consensus forecast of financial analysts, the results pointed out a negative relationship between the discretionary accruals and the forecast error, suggesting that the greater The level of accruals of the companies in the sample, the smaller is the error of the forecast, that is, that the managers possibly manage the results by accounting choices opportunistically, in order to reach or exceed the consensus of the analysts' prediction. However, the same has not been observed in relation to the management of results through real activities. Thus, no evidence has been found that managers jointly manage results management through real activities and through discretionary accruals to achieve the profit targets predicted by analysts.

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Presidente - 119.581.188-85 - EDILSON PAULO - UFPB
Interno - 1673813 - CLAYTON LEVY LIMA DE MELO
Externo à Instituição - LUIZ FELIPE DE ARAUJO PONTES GIRAO - UFPB