Governança corporativa e divulgação de relatórios financeiros anuais

Corporate governance and release of annual financial statements

Hudson Amaral, Robert Iquiapaza, Wesley Tomaz and Luiz Bertucci

MPRA Paper from University Library of Munich, Germany

Abstract: This research seeks to discover if there is any relationship between the delay in the publication of the annual financial statements of companies, and their level of corporate governance, assuming that the delay on its liberation would indicate a smaller transparency of the company. For that, proxy variables for corporate governance were defined, as well as for other dimensions of the company that can, potentially, explain that discrepancy. Ordinary Least Square and Tobit models were used. The results indicate, among other things, that the excess of control by controller shareholders tends to cause a larger delay in the liberation of the statements, but the presence of the company in BOVESPA's differentiated corporate governance levels, as well as the Index for Corporate Governance Quality do not have relationship with the delay.

Keywords: Transparency; Financial Statements; Corporate Governance (search for similar items in EconPapers)
JEL-codes: G14 M0 M41 (search for similar items in EconPapers)
Date: 2008-01-02
New Economics Papers: this item is included in nep-acc
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Published in Contabilidade Vista & Revista 1.19(2008): pp. 61-82

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Persistent link: https://EconPapers.repec.org/RePEc:pra:mprapa:9068

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