Desvendando Estratégias de Comunicação Empresarial: Legibilidade, Gerenciamento de Resultados e Impressão

Patrícia Pain; Maria Ivanice Vendruscolo; Márcia Bianchi; Briscia Oliveira Prates Rigoni; Michele Monteiro Lirio Maria

doi:10.51341/cgg.v27i1.3139

Authors

Patrícia Pain Universidade Federal do Espírito Santo (UFES) https://orcid.org/0000-0002-0660-226X
Maria Ivanice Vendruscolo Universidade Federal do Rio Grande do Sul https://orcid.org/0000-0002-2132-5029
Márcia Bianchi Universidade Federal do Rio Grande do Sul https://orcid.org/0000-0002-7716-2767
Briscia Oliveira Prates Rigoni Universidade Federal do Espírito Santo (UFES) https://orcid.org/0000-0003-0986-078X
Michele Monteiro Lirio Maria Universidade Federal do Espírito Santo (UFES) https://orcid.org/0000-0003-4522-5812

DOI:

https://doi.org/10.51341/cgg.v27i1.3139

Keywords:

Earnings management, print management, readability, Reference Form, 20-F Form

Abstract

Objective: This work aims to analyze the relationship between Print Management, Results Management and the readability of Reference Forms and Forms 20-F disclosed by Brazilian companies with American Depositary Receipts (ADR) in the period from 2015 to 2019.

Method: The study uses an empirical approach, applying quantitative scientific methods of descriptive statistics, correlation and regression to examine data collected from business documents.

Originality/Relevance: This study fills a theoretical gap by exploring the intersection between Print Management, Output Management and enterprise document readability. The academic relevance lies in the deeper understanding of strategic communication practices adopted by companies.

Results: The main results indicate that Tone Management have an impact on the readability of Reference Forms. Readability manipulation strategies, such as changing syntactic complexity, are employed to influence readers' perceptions.

Theoretical/Methodological contributions: Theoretical implications of this study include improved understanding of readability manipulation strategies and their impact on readers' perceptions. The study highlights the importance of simultaneously considering Impression Management and Results Management when analyzing the Readability of corporate reports.

Downloads

Download data is not yet available.

References

Baker, E., & Kare, D. D. (1992). Relationship between annual report readability and corporate financial performance. Management Research News, 15(1), 1-4. https://doi.org/10.1108/eb028188

Beattie, V., & Jones, M. J. (2000). Impression management: the case of inter-country financial graphs. Journal of International Accounting, Auditing & Taxation, 9(2), 159-183. https://doi.org/10.1016/S1061-9518(00)00030-6

Beyer, A., Cohen, D. A., Lys, T. Z., & Walther, B. R. (2010). The financial reporting environment: Review of the recent literature. Journal of Accounting and Economics, 50, 296-343. https://doi.org/10.1016/j.jacceco.2010.10.003

Bloomfield, R. (2005). The Incomplete revelation hypothesis and financial reporting. Accounting Horizons. 16(3), 233-243. https://doi.org/10.2308/acch.2002.16.3.233

Bocmaru, G. (2015). Impression and earnings management: a collaborative tool to mislead analysts. Amsterdam: Faculty of Economics and Business, University of Amsterdam.

Borges, G. F. (2020). Análise da legibilidade dos BR_GAAP versus legibilidade das notas explicativas de empresas brasileiras abertas. [Tese de Doutorado em Ciências Contábeis, Universidade Federal de Uberlândia].

Brennan, N., Guillamon-Saorin, E., & Pierce, A. (2009). Impression management: developing and illustrating a scheme of analysis for narrative disclosures – a methodological note. Accounting, Auditing & Accountability Journal. 22(5), 789-832. https://doi.org/10.1080/0969160X.2013.820425

Carlsson, S., & Lamti, R. (2015). Tone management and earnings management: a UK evidence of abnormal tone in CEO letters and abnormal accruals. [Tese de Mestrado em Contabilidade, School of Business, Economics and Law, University of Gothenburg].

Cavalheiro, M. de O., Victor, F. G., Lerner, A. F., & Grando, R. M. (2021). Gerenciamento de impressão nas companhias abertas listadas na brasil, bolsa, balcão [b]³: o uso do tom anormal nos relatórios de administração. Revista Gestão E Desenvolvimento, 18(3), 184–211. https://doi.org/10.25112/rgd.v18i3.2453

Clatworthy, M., & Jones, M. J. (2001). The effect of thematic structure on the variability of annual report readability. Accounting, Auditing & Accountability Journal. 11(3), 311-326. https://doi.org/10.1108/09513570110399890

Collins, D. W., Pungaliya, R. S., & Vijh, A. M. (2017). The effects of firm growth and model specification choices on tests of earnings management in quarterly settings. The Accounting Review, 92(2), 69–100. https://doi.org/10.2308/accr-51551

Collins, D., & Kothari, S. P. (1989). An Analysis of the Cross-Sectional and Intertemporal Determinants of Earnings Response Coefficients. Journal of Accounting and Economics, 11(2–3), 143–81. https://doi.org/10.1016/0165-4101(89)90004-9

Courtis, J. K. (2004) Corporate report obfuscation: artefact or phenomenon? British Accounting Review. 36 (3), 291-312. https://doi.org/10.1016/j.bar.2004.03.005

Culvenor, J., Godfrey, J. M., & Byrne, G. (1999). Modeling total accruals in an international environment: the impact of alternative measures of PPE. Journal of International Accounting, Auditing and Taxation, 8(2), 289–313. https://doi.org/10.1016/S1061-9518(99)00017-8

Cunha, C. M. P. da, & Barros, P. P. F. B. (2021). O efeito sobre o BTD da adoção das IFRS e do fim do regime tributário de transição (RTT) no Brasil. Revista Contabilidade & Finanças, 33, 96–111. https://doi.org/10.1590/1808-057x202113980

Dechow, P. M., & Skinner, D. (2000). Earnings management: reconciling the views of accounting academics, practioners and regulators. Accounting Horizons, 14(2), 235-250. https://doi.org/10.2308/acch.2000.14.2.235

Dechow, P., Sloan, R., & Sweeney, A. (1995). Detecting earnings management. The Accounting Review, 70, 193–226. https://www.jstor.org/stable/248303

Fávero, L. P., & Belfiore, P. (2017). Manual de análise de dados: estatística e modelagem multivariada com Excel, SPSS e Stata. (1. ed.) Rio de Janeiro: Elsevier.

Flesch, R. (1948). A new readability yardstick. Journal of Applied Psychology, 32(3), 221–233. https://doi.org/10.1037/h0057532

Holtz, L., & Santos, O. M. (2020). Legibilidade das notas explicativas das empresas brasileiras de capital aberto. Enfoque: Reflexão Contábil, 39(1), 57-73. https://doi.org/10.4025/enfoque.v39i1.45275

Kirch, G., Lima, J. B. N., & Terra, P. R. S. (2012). Determinantes da defasagem na divulgação das demonstrações contábeis das companhias abertas brasileiras. Revista Contabilidade & Finanças. 23(60), 173-186. https://doi.org/10.1590/S1519-70772012000300003

Kothari, S. P., Leone, A. J., & Wasley, C. E. (2005). Performance matched discretionary accrual measures. Journal of Accounting and Economics, 39(1), 163–197. https://doi.org/10.1016/j.jacceco.2004.11.002

Kothari, S. P., Ramanna, K., & Skinner, D. J. (2010). Implications for GAAP from an analysis of positive research in accounting. Journal of Accounting and Economics, 50(2-3), 246-286. https://doi.org/10.1016/j.jacceco.2010.09.003

Lahmar, O., & Piras, L. (2023). Making sense and transparency in finance literature: Evidence from trends in readability. Research in International Business and Finance, 64, 101900. https://doi.org/10.1016/j.ribaf.2023.101900

Lazzem, S., & Jilani, F. (2018). The impact of leverage on accrual-based earnings management: The case of listed French firms. Research in International Business and Finance, 44, 350–358. https://doi.org/10.1016/j.ribaf.2017.07.103

Llewellyn, S. (1998). Narratives in accounting and management research. Journal of Accounting, Auditing and Accountability. 12(2), 220-236. https://doi.org/10.1108/09513579910270129

Lopes, C. C. V. M., Gonçalves, R. S., & Callado, A. L. C. (2016). Controle Interno de Empresas Brasileiras Listadas na NYSE: Uma Comparação Entre as Informações Enviadas a SEC e a CVM. In Anais do Congresso UFPE de Ciências Contábeis (Vol. 1)

Martins, T. B. F., Ghiraldelo, C. M., Nunes, M. das G. V., & Oliveira Junior, O. N. de. (1996). Readability formulas applied to textbooks in brazilian portuguese. Sao Carlos: Icmsc-Usp. Recuperado de https://repositorio.usp.br/directbitstream/73fba911-601e-4040-bda6-f17c07aad52b/906089.pdf.

Merkl-Davies, D. M., & Brennan, N. (2007). Discretionary disclosure strategies in corporate narratives: incremental information or impression management? Journal of Accounting Literature, 26, 116-196. http://hdl.handle.net/10197/2907

Miranda, I. A., Reina, D., & Lemes, S. (2018). Grau de legibilidade dos relatórios financeiros em empresas do novo mercado. In Anais do USP International Conference in Accounting, 18.

Moreno, A., & Casasola, A. (2016). A readability evolution of narratives in annual reports: A longitudinal study of two Spanish companies. Journal of Business and Technical Communication. 30(2). 202-235. https://doi.org/10.1177/1050651915620233

Nicola, M., Alsafi, Z., Sohra bi, C., Kerwan, A., Al-Jabir, A., Iosifidis, C., Agha, M., & Agha, R. (2020). The socio-economic implications of the coronavirus pandemic (COVID-19): A review. International Journal of Surgery, Londres, 78, 185. https://doi.org/10.1016/j.ijsu.2020.04.018

Novaes, P. V. G., Borges Junior, P., Almeida, J. E. F., & Bortolon, P. M. (2018). Accruals discricionários e previsões otimistas dos analistas: incentivos e consequências. Contabilidade Vista & Revista. 29(1), 28-47. https://doi.org/10.22561/cvrv29i1.3627

Rutherford, D. (2003). Raiding the Land of the Foreigners. Princeton University Press.

Santos, E. S., Ponte, V. M., & Mapurunga, P. V. (2014). Adoção obrigatória do IFRS no Brasil (2010): índice de conformidade das empresas com a divulgação requerida e alguns fatores explicativos. Revista Contabilidade & Finanças, 25(65), 161-176. https://doi.org/10.1590/S1519-70772014000200006

Saorin, E. G., & Osma, B. G. (2010). Self-serving financial reporting communication: A study of the association between earnings management and impression management. Recuperado de http://citeseerx.ist.psu.edu/viewdoc/download?doi=10.1.1.463.3003 &rep=rep1&type=pdf.

Schlenker, B. R. (1980). Impression management: the self-concept, social identity, and interpersonal relations. Monterrey: Brooks/Cole.

Silva, V. M. (2020). Gerenciamento de impressão e qualidade das informações contábeis: análise das empresas listadas na B3. [Dissertação de Mestrado, Universidade Federal da Paraíba].

Souza, L. de M. (2011). Legibilidade dos Formulários de Referência das Empresas Participantes dos Níveis de Governança Corporativa no Brasil. In Anais do Congresso USP de Iniciação científica, 8.

Twedt, B., & Ress, L. (2012). Reading between the lines: An empirical examination of qualitative attributes of financial analysts’ reports. Journal of Accounting and Public Policy, 31(1), 1-21. https://doi.org/10.1016/j.jaccpubpol.2011.10.010

Vidya, C. T., Ravichandran, R., & Deorukhkar, A. (2023). Exploring the effect of Covid-19 on herding in Asian financial markets. MethodsX, 10, 101961. https://doi.org/10.1016/j.mex.2022.101961

Xie, H. (2001). The Mispricing of Abnormal Accruals. The Accounting Review, 76(3), 357–373. https://doi.org/10.2308/accr.2001.76.3.357

Yamamoto, M. M., & Salotti, B. M. (2006). Informação Contábil: Estudo sobre a sua Divulgação no Mercado de Capitais. São Paulo: Atlas.

Yang, F., David, J. M., & Chang, C.-C. (2023). Detecting Financial Statement Fraud through Multidimensional Analysis of Text Readability. Journal of Forensic Accounting Research, 1–23. https://doi.org/10.2308/JFAR-2021-019