Gerenciamento de resultados em instituições financeiras brasileiras : análises sob a perspectiva da teoria da escolha pública e da teoria dos ciclos políticos
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Data
2025-04-16
Autores
Nascimento, Schleiden Pinheiro
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Universidade Federal do Espírito Santo
Resumo
This thesis, composed of three studies, aims to analyze the existence of earnings management practices in Brazilian public financial institutions from the perspective of Public Choice Theory and Political Cycles Theory. The theoretical contribution of this research lies in linking the fields of accounting and political science. To delimit the scope of the study, financial institutions operating in Brazil between 2002 and 2023 were considered, provided they had at least ten years of data within this period. The methodology, with a quantitative approach using panel data with fixed effects and robust regression, was based on the application of two-stage econometric models. The positive relationship between the discretionary portion of the Loan Loss Provisions (LLP) and accounting earnings (excluding LLP) indicates the presence of earnings management among Brazilian financial institutions in general, through the practice of income smoothing via LLP. On the other hand, in public financial institutions, this relationship is negative, suggesting the adoption of Take a Bath or Big Bath Accounting practices. No evidence was found of earnings management in relation to political cycles. However, regarding earnings management from the perspective of political ideology, the findings suggest that right wing governments adopt earnings management practices like those of financial institutions in general, while left-wing governments follow practices more aligned with public financial institutions. All three studies converge in recognizing the centrality of discretionary LLP as a key instrument of earnings management in the banking sector. Both in the general context and in the specific analysis of public financial institutions, the discretion associated with this provision emerges as a relevant accounting practice influenced by institutional, economic, and political factors. This convergence reinforces the methodological robustness of the studies and their contribution to academic literature on the topic. Considering the limitations of this research, a qualitative approach is recommended for future studies to capture aspects not observed in the quantitative analyses
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Gerenciamento de resultados , Ciclos políticos , Ideologias partidárias , Teoria da escolha pública , Bancos , Earnings management , Political cycles , Party ideology , Public choice theory , Banks , Contabilidade bancária , Ativos (Contabilidade) , Lucros bancários , Bancos estatais , Empréstimos bancários