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| Format: | Artículo científico |
| Language: | en |
| Published: |
Universidade Federal de Santa Catarina
2010
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| Online Access: | https://www.redalyc.org/articulo.oa?id=76220594002 |
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Table of Contents:
- Ownership and Control Structures, Corporate Governance and Income Smoothing in Brazil Damiana Torres Adriano Leal Bruni Miguel Angel Rivera-Castro Antonio Lopo Martinez Administración y Contabilidad income smoothing corporate governance Ownership and control structures This article examines the association between the ownership and control structure, level of corporate governance and origin of capital (foreign or domestic) of Brazilian companies on their propensity to smooth income. Using a sample of nonancialrms with shares traded on the São Paulo Stock Exchange (Bovespa) at the end of 2007, we performed covariance analysis based on data from the preceding ten years, where the dependent variable was the index proposed by Eckel, an empirical proxy for smoothing. The results indicate that the more concentrated the shareholding and control structures of Brazilianrms are, both according to overall capital and voting capital, the more intensely they tend to smooth earnings to favor the interests of the majority shareholder. The results also show that this effect is less pronounced forrms with enhanced corporate governance levels and those with foreign capital. 2010 artículo científico 1807-1821 https://www.redalyc.org/articulo.oa?id=76220594002 en http://www.redalyc.org/revista.oa?id=762 Revista Contemporânea de Contabilidade application/pdf Universidade Federal de Santa Catarina Revista Contemporânea de Contabilidade (Brasil) Num.13 Vol.7