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Purpose: To analyze the effect of prior period adjustments (PPA) on Equity and on Return on Equity (ROE). Methodology: The Statements of Changes in Equity and the Explanatory Notes of the companies listed on the B3's New Market, from 2010 to 2019, were researched. To analyze the effects of PPA on equity and ROE, the Wilcoxon test was applied. Results: The majority of the identified PPA pertain to changes in accounting policies, notably related to the application of IFRS 9/CPC 48 and IFRS 15/CPC 47 in 2018. This means that companies chose to recognize the effects of adopting these standards retrospectively, with a cumulative effect on equity, without presenting comparative information (accounting choice). There was a statistically significant difference between the average variations in adjusted and unadjusted equity and return on equity (ROE). In other words, it is observed that changes in accounting policies and/or error corrections influence the analysis of these indicators. It is important to note that PPA should not affect the net income for the current period, suggesting that the effects resulting from changes in accounting policies and errors tend to protect present and/or future results at the expense of past results. Contributions of the Study: The main contribution of the study lies in evaluating changes in the equity that do not necessarily result from operating performance or financing strategies, but arising from changes in accounting criteria or errors, which may affect other equity components. [ABSTRACT FROM AUTHOR]

Purpose: This study aimed to analyze the relationship between executive remuneration and the economic-financial and socio-environmental performance of publicly traded Brazilian companies. Methodology: The study sample comprises companies in the Brazil Index 50 (IBrX-50), portfolio from May to August 2020. After exclusions, the final survey sample is composed of 34 companies, with a total of 68 observations and the period of analysis was the years 2018 and 2019. Data were collected manually in the Reference Form, item 13 and on the website of each company. For data analysis, statistical techniques were used, such as descriptive, correlations and multiple linear regressions. Results: For model 1, the Return on Equity (ROE) and Business Sustainability Index (ISE) variables showed significant and negative relationships with the RTM, indicating that the higher the ROE of the companies, the lower the Average Total Compensation (RTM). Also, the variable ENVID showed a significant and positive relationship, where the higher the company's Total Debt (ENDIV), the higher the RTM. For model 2 of Fixed Compensation (RF), the ROE also presented a significant and negative relationship. The Earnings per Share (LPA) and ENDIV variables showed a significant and positive relationship, indicating that higher values in these variables will increase the RF given to executives. Contributions of the Study: This study contributes to the literature on compensation and performance by adding social and environmental variables to the theoretical and practical framework through the interconnection of executive compensation. Thus, it was possible to understand new relationships between traditional economic-financial and socio-environmental factors, while good communication and good governance practices with stakeholders present positive results for the organization. [ABSTRACT FROM AUTHOR]

Purpose: The research intends to verify the relationship between meeting the requirements for joining and staying at PROFUT and the economic and financial situation of Brazilian football clubs listed in the National Club Ranking (RNC). Methodology: The study was operationalized by the deductive method, taking an empirical approach, using the analysis of individuals, facts and consequences researched. As for the procedures adopted, the research is classified as a bibliographic and documentary review and a quantitative approach. The matter was addressed through the application of an investigation of the points of the legislation, through a checklist, and the presentation of economic and financial indicators: indebtedness, current liquidity, tangibility, size and return on equity. Results: Given the investigation carried out, it was noticed that, even with the current requirements of the legislation and criteria of enforceability for participation in PROFUT, adherence to the program does not guarantee a better economic and financial situation, mainly related to the factors inherent to the capital structure. Contributions of the Study: The work contributes in a theoretical way in the production of a contextualized analysis of the main existing researches and shows new explanations of the studied fact based on different perspectives. With regard to the practical contribution, based on the main findings found, and seeking to relate the level of commitment of the analyzed clubs, which adhered to PROFUT, with the management of their capital structure, it was noticed the absence of a direct relationship between adherence to this type of financing and the management of the sources of capital obtained. [ABSTRACT FROM AUTHOR]

Purpose: The present study sought to investigate whether tax management influences the cost of equity of Brazilian companies listed in Brazil, Methodology: The study included the analysis of the Proxie Book-Tax Differences (BTD) as a tool for identifying tax management, as suggested in the work of Moreira e Silva (2019), as well as the control variables, which are the return on equity (ROE), market value (QTOBIN), company size (LNAT) and company financial leverage (ALV). For data collection, the Bloomberg® database and the Reference Form available on the B3 website were used. For that, it was used the Multiple Linear Regression of the data type in balanced panel, resulting in a final sample formed by 630 observations. Results: Through the BTD proxie, referring to the difference between accounting profit and tax profit, and used to capture tax management in this research, it was not possible to identify any relationship with the cost of equity. Thus, for the purposes of this research, the theoretical adequacy and the statistical models used did not show that good tax management practices have a positive or negative effect on the cost of equity. Contributions of the Study: It is observed that Brazilian studies did not analyze the effect of tax management on the cost of equity in Brazilian companies using the Book-Tax Differences (BTD) indicator as a tool for identifying tax management and its influence on the cost of capital. So, this research followed the recommendation suggested by Moreira e Silva (2019), to analyze this cost with another indicator, in this case, Book-Tax Differences (BTD). According to the results, it was not possible to identify any relationship with the cost of equity, thus contributing to the consolidation of the findings by Goh et al. (2016) and Moreira e Silva (2019) who present CashETR as the best metric for tax management, given that the results presented using the variables ETR and BTD, demonstrated that the cost of capital required by investors was unrelated to the fiscal aggressiveness of companies. Bolsa e Balcão (B3) in the period from 2014 to 2018. [ABSTRACT FROM AUTHOR]

Purpose: verify which determinants influence the recognition of the Impairment Test (IT) loss recognition in Brazilian companies listed in B3. Methodology: The research was performed with 169 non-financial companies listed in B3, which may or may not have presented information of IT loss, in the analysis period from 2009 up to 2017. To test the hypotheses of this research, the logit model was applied. In order to avoid the outliers problem, which may affect the estimated coefficients, all variables were winsorized in 1% in each side of their distribution. The results, however, with and without winsorization were mantained in order to attest to the consistency of the findings. The standard errors were clusterized, so as to avoid autocorrelation problems in the model's residual data. Results: It was noticed that the Return on Equity, the Book-to-Market index, Management Change, Big Bath and Property Control were considered influential determinants on IT loss recognition in the companies listed in B3. Contributions of the Study: The study brings forth practical justifications for IT appliability, offering importante accounting information for managers, investors, accounting professional, policy and rule makers. From a theoretical point of view it contibutes to the literature on determinant factors for IT loss of actives. [ABSTRACT FROM AUTHOR]