Dificuldades financeiras e o gerenciamento de resultados: evidências para empresas brasileiras

Abstract

In view of the existing market plurality in Brazil and the challenges imposed on managers and entrepreneurs in terms of the managerial sphere and institutional factors, it is necessary to understand that companies may face financial difficulties and consequently insolvency. Companies that are experiencing financial difficulties and insolvency may resort to judicial recovery mechanisms, if they fit the due prerequisites required by Law No. the LREF). In the search for mechanisms that mitigate financial difficulties, Real Earnings Management (REM) can be used with the aim of purposefully modifying the company's financial statements, in order to direct them to its own benefits. The theme concerning Real Earnings Management (REM) stands out in the financial accounting literature, due to managerial actions that influence operational factors in financial matters and income statements. In order to find a possible relationship between Financial Distress and Real Earnings Management (REM), and a possible relationship between financial distress measured by judicial recovery and insolvency at the Real Earnings Management (REM) level, models were created. unbalanced panel regression. To create the models described above, data were collected from 723 non-financial publicly traded Brazilian companies in the period 2016-2020. The present work, advances in its obtained results and corroborates with the results previously obtained in the literature concerning the subject. With the results obtained by the research, it is possible to generate insights for managers and entrepreneurs to make better decisions in their companies. As a technological product, the work provided the development of a short course, with the theme of “Financial Difficulties and Earnings Management: Evidences for Brazilian companies”.