O papel das questões ambientais, sociais e de governança (ESG) no conservadorismo contábil: Evidências do Brasil
DOI:
https://doi.org/10.1590/1808-057x20242049.enPalavras-chave:
conservadorismo contábil, desempenho ESG, RSC, qualidade dos lucros, assimetria de informaçõesResumo
O objetivo deste estudo é investigar a associação entre o desempenho ambiental, social e de governança corporativa (ESG) e a demanda por conservadorismo contábil em empresas listadas na bolsa de valores brasileira. Considerando que as práticas contábeis conservadoras geralmente decorrem das preocupações dos stakeholders com o gerenciamento de resultados e a assimetria de informações – condições que tendem a se diferenciar em empresas socialmente responsáveis – este estudo explora a relação entre o desempenho ESG e o conservadorismo contábil. O conservadorismo contábil é analisado como um princípio de qualidade da informação, particularmente no contexto de mecanismos, como o desempenho ESG, que contribuem para mitigar a assimetria de informações. Apesar das limitações, no Brasil, quanto ao perfil de fiscalização e à disponibilidade geral de crédito e da alta concentração de propriedade, o país é reconhecido mundialmente pela adoção dos padrões de reporte do Sustainability Accounting Standards Board (SASB). Essas condições reforçam as suposições e destacam a importância do presente estudo. Há escassez de pesquisas que investiguem a correlação entre o desempenho ESG e o conservadorismo contábil no Brasil, sobretudo considerando as especificidades regulatórias e econômicas do país. Esta pesquisa busca preencher essa lacuna ao oferecer uma perspectiva crítica sobre a interação entre as práticas ESG e o conservadorismo contábil. As conclusões da pesquisa têm implicações práticas, sociais e ambientais relevantes. A divulgação eficaz das práticas de ESG melhora a qualidade das informações relatadas e aumenta a credibilidade entre os stakeholders, permitindo que os investidores e outros stakeholders tomem decisões mais informadas e assertivas. A mensuração do conservadorismo foi realizada com base no modelo proposto por Ball e Shivakumar (2005), sendo utilizadas, nas análises principais, regressões por mínimos quadrados ordinários (MQO) e regressões quantílicas com erros-padrão robustos e efeitos fixos por setor e ano. Os resultados da pesquisa indicam que um maior desempenho ESG está associado a um aumento do conservadorismo contábil condicional no ano subsequente. Esse achado sugere que a divulgação robusta de informação ESG aprimora a qualidade das informações disponíveis para a tomada de decisão, reduzindo a assimetria de informações entre a empresa e seus stakeholders, ao mesmo tempo em que fortalecem a sua reputação.
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