Determinantes do grau de cumprimento das recomendações da CMVM: Evidência nas empresas cotadas Portuguesas
Determinantes do grau de cumprimento das recomendações da CMVM: Evidência nas empresas cotadas Portuguesas
Índice
1. Introdução
2. Revisão da literatura e levantamento de hipóteses
3. Metodologia
4. Análise de Resultados
5. Conclusões, Limitações e Pistas para Pesquisas futuras
O presente trabalho pretende analisar eventuais determinantes do grau de cumprimento das recomendações da CMVM sobre o governo das sociedades, pelas empresas com valores cotados na bolsa de valores – Euronext Lisbon, no período compreendido entre os anos de 2007 a 2011. Foram testadas onze hipóteses de associação entre o índice de cumprimento das recomendações de governo societário (ICRGS) e as onze variáveis explicativas através do uso de estatísticas descritivas, normalidade, diferenças no cumprimento das recomendações de Governo das Sociedades ao longo do tempo, correlação e regressão.
Os resultados do modelo de regressão utilizado evidenciam que as variáveis independentes ou explicativas, percentagem de administradores independentes, dimensão da empresa, existência de um plano de stock options e a existência de uma comissão de auditoria apresentam uma influência positiva estatisticamente significativa sobre o ICRGS. Por outro lado, os resultados mostram ainda que, as variáveis dualidade do Presidente do Conselho de Administração e endividamento revelam uma influência negativa estatisticamente significativa sobre o ICRGS.
Jonas Oliveira has received a PhD in Accounting at the School of Economics and Management from the University of Minho. He has an Assistant Professor at ISCTE Business School (ISCTE-IUL). He is a author of several books and articles published in international and national scientific journals. He is a member of the Editorial board of the international journal Accounting and Finance Research and a member of the Scientific Board of the international journal Academic Journal of Economic Studies. His research interests are relate to risk reporting, risk communication, and impression management strategies.
Jonas Oliveira é doutorado em Contabilidade pela Escola de Economia e Gestão da Universidade do Minho. É Professor Auxiliar no ISCTE Business School (ISCTE-IUL). É autor de diversos livros e artigos publicados em revistas científicas internacionais e nacionais. É membro do Conselho editorial do jornal internacional Contabilidade e Finanças Research e membro do Conselho Científico da revista internacional Academic Journal of Economic Studies. Os seus interesses de investigação são relato sobre risco, comunicação de risco e estratégias de impression management.
Graça Azevedo has received a PhD from the ISCTE Business School – Portugal, Lisbon in 2006. She has a Coordinator Professor at the Institute of Higher Learning in Accounting and Administration of the University of Aveiro (ISCA-UA), and permanent member of the Research Centre on Accounting and Taxation (CICF). Her research interests are related to financial reporting, impression management strategies and international accounting standards.
Graça Azevedo é doutorada pelo ISCTE Business School – Portugal, Lisboa desde 2006. É Professora Coordenadora no Instituto Superior de Contabilidade e Administração da Universidade de Aveiro (ISCA-UA) e membro permanente do Centro de Investigação em Contabilidade e Fiscalidade (CICF). Os seus interesses de investigação estão relacionados com a área do relato financeiro, estratégias de Impression Management e Normas Internacionais de Contabilidade.
Carla Vaz Pereira has received a Master’s degree in accounting at the School Institute of Higher Learning in Accounting and Administration of the University of Aveiro (ISCA-UA).
Carla Vaz Pereira é Mestre em Contabilidade pelo Instituto Superior de Contabilidade e Administração da Universidade de Aveiro (ISCA-UA).
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Governo das Sociedades, Recomendações da CMVM,
Determinantes, Nível de conformidade.