Analysis of the guidance report in companies investigated by the Federal Police: examination from the perspective of impression management
DOI:
https://doi.org/10.11606/issn.1982-6486.rco.2019.148176Keywords:
Guidance, Impression Management, Federal PoliceAbstract
We analyzed whether the fraud investigations by the Brazilian Federal Police on the Carne Fraca, Lava Jato and Zelotes operations generated any effects on the reporting of by the implicated firms. The Carne Fraca, Lava Jato and Zelotes operations may alter the impressions management on prospective information disclosed by those firms. Our analysis covered the content of guidance reports from implicated firms between 2010 and 2017 on financial, operational and investment information. The period of analysis coincides with the beginning of the annual guidance reporting from 2010 by the companies listed in Brasil Bolsa Balcão stock market. The results show the reporting pattern (positive or negative tone) varies according the implicated firm, from an immediate positive tone recovering up to the reporting interruption.
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