Earnings management through real activities manipulation and the corporate governance: analysis of the brazilian steel and metals industries
DOI:
https://doi.org/10.11606/rco.v5i13.34804Keywords:
Earnings management, Operational decisions, Corporate governanceAbstract
The aim of this study is identify evidence of earnings management through operational decisions in the listed Brazilian company from the Steel and Metallurgy sector, and consider whether corporate governance in these companies is an incentive or notfor such a practice management. For this purpose we analyzed 14 Brazilian companies of following Steel and Metals listed on BM&Fbovespa. The accounting information for this research was drawn the Financial Statements from Financial Statements for the years in 2005, 2006, 2007, 2008 and 2009. Adopting the econometric models proposed by Anderson et al. (2003) and Roychowdhury (2006) found that the industries considered a priori, manage their accounting results through operational decisions. Additionally, by including the variable corporate governance as suggested by Cardoso and Martinez (2006), research findings indicate that, through the operational decisions relating to selling, general and administrative, corporate governance is seen as a counter incentive for earnings management. However, as regards expenses as related to levels ofproduction, corporate governance is a form of incentive for the man-
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