The impact of financial constraints on conservatism
Name: GLADYSON BROMMONSCHENKEL DEMONIER
Publication date: 05/09/2013
Advisor:
Name |
Role |
|---|---|
| JOSE ELIAS FERES DE ALMEIDA | Advisor * |
Examining board:
| Name |
Role |
|---|---|
| GABRIEL MOREIRA CAMPOS | Internal Examiner * |
| JOSE ELIAS FERES DE ALMEIDA | Advisor * |
| PATRÍCIA MARIA BORTOLON | Internal Examiner * |
Summary: This research investigated the practice of accounting conservatism in Brazilian companies with financial constraints. For this, we used a sample of 1086 observations of Brazilian companies listed on BM&FBovespa in the period from 2000 to 2012, in which 106 observations were classified in a situation of financial constraint, as criteria developed using for the distribution of dividends, cash and cash equivalents and investments. To investigate the accounting conservatism were used models Basu (1997) and Ball and Shivakumar (2005) adapted. The findings of this study confirmed the hypothes is that firms with financial constraints do not adopt the attribute conditional conservatism in their accounting numbers.
Keywords: Financial Constraint, Conservatism, Cash and Cash Equivalents, Dividends and External Resources.
