Impact of the Differences between Brazilian and American Accounting Standards in Performance Indicators of Brazilian Companies with ADRs

Roberto Carlos Klann, Ilse Maria Beuren and Nelson Hein
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Roberto Carlos Klann: Regional University of Blumenau – FURB
Ilse Maria Beuren: Regional University of Blumenau – FURB
Nelson Hein: Regional University of Blumenau – FURB

Brazilian Business Review, 2009, vol. 6, issue 2, 147-164

Abstract: The objective of the article is to analyze the impact of the differences between Brazilian and American accounting standards in performance indicators of Brazilian companies that participate in corporate governance. The research is characterized as descriptive, with a quantitative approach using regression and correlation analysis. The sample compose of those 17 companies of Corporate Governance of Bovespa that were presented in the January 2007 negotiation of American Depositary Receipts (ADR’s) on the NYSE. Documental research consisted of accounting statements from the year 2005 sent to Bovespa and to the NYSE. The results of the research show divergences on the performance indicators calculated based on the Brazilian and American accounting standards. However, it was evidenced significant correlation between the differences in performance indicators calculated, based on the accounting statements sent to Bovespa and to the NYSE. Therefore, it can be concluded that performance indicators are not affected in any significant way by the divergences in accounting standards between the two countries, not occurring any asymmetry of information in the sample countries between what is divulged on Bovespa and on the NYSE.

Keywords: performance indicators; brazilian accounting standards; american accounting standards; corporate governance; brazilian companies. (search for similar items in EconPapers)
Date: 2009
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