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Publication
Passivos contingentes nas empresas cotadas na Euronext Lisbon: divulgação e relevância para o mercado de valores
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| 1.09 MB | Adobe PDF |
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Abstract(s)
O objetivo principal da normalização contabilística nacional e internacional é o desenvolvimento de normas de elevada qualidade, no sentido de aumentar a transparência e a confiança da informação financeira por parte dos stakeholders. Neste sentido, a divulgação da informação contabilística sobre passivos contingentes é um fator essencial para a análise da situação patrimonial das entidades e do seu perfil de risco, face a futuros compromissos.
O presente estudo tem como objetivo avaliar os fatores que influenciam a divulgação e quantificação dos passivos contingentes, por parte das sociedades com valores admitidos à negociação na Euronext Lisbon, entre o período de 2017-2021. Pretende também avaliar se os valores de passivos contingentes são materialmente significativos por forma, quando integrados nos indicadores de análise das empresas, possam conduzir a diferenças que podem afetar a perceção dos analistas sobre a situação económica e financeira das empresas. Além disso, pretende ainda avaliar se o preço das ações é sensível à presença de passivos contingentes quantificados.
Os resultados obtidos com base nos dados recolhidos das demonstrações financeiras das empresas da amostra, demonstram que fatores como a dimensão e o setor de atividade estão associados positivamente à divulgação de passivos contingentes, enquanto os resultados estão associados negativamente.
Confirma-se que os indicadores de rendibilidade e financeiros quando incluem o efeito dos passivos contingentes apresentavam valores com diferenças estatisticamente significativas e uma reação negativa do preço das ações aos passivos contingentes, que se associa ao grau destas possíveis obrigações.
The primary purpose of national and international accounting standardization is to develop high-quality standards with the aim of enhancing transparency and instilling confidence in financial information among stakeholders. Therefore, the disclosure of accounting information regarding contingent liabilities is of utmost importance for analysing the equity situation of the entities and their risk profile considering future commitments. This study pretends to evaluate the factors that influence the disclosure and quantification of contingent liabilities by companies with securities admitted to trading on Euronext Lisbon, between the period 2017-2021. This study also aims to assess whether the values of contingent liabilities are materially significant when integrated into the company's analytical indicators, potentially leading to differences that may influence analysts' perceptions of the economic and financial condition of the companies, as well as whether the share price is sensitive to the presence of quantified contingent liabilities. The results obtained from data collected from the financial statements of the companies in the sample, demonstrate that factors such as size and industry sector are positively associated with the disclosure of contingent liabilities, while the results are negatively associated. It is confirmed that profitability and financial indicators, when incorporating the impact of contingent liabilities, exhibited values with statistically significant differences and a negative response of the share price to contingent liabilities, which is associated to the extent of these potential obligations."
The primary purpose of national and international accounting standardization is to develop high-quality standards with the aim of enhancing transparency and instilling confidence in financial information among stakeholders. Therefore, the disclosure of accounting information regarding contingent liabilities is of utmost importance for analysing the equity situation of the entities and their risk profile considering future commitments. This study pretends to evaluate the factors that influence the disclosure and quantification of contingent liabilities by companies with securities admitted to trading on Euronext Lisbon, between the period 2017-2021. This study also aims to assess whether the values of contingent liabilities are materially significant when integrated into the company's analytical indicators, potentially leading to differences that may influence analysts' perceptions of the economic and financial condition of the companies, as well as whether the share price is sensitive to the presence of quantified contingent liabilities. The results obtained from data collected from the financial statements of the companies in the sample, demonstrate that factors such as size and industry sector are positively associated with the disclosure of contingent liabilities, while the results are negatively associated. It is confirmed that profitability and financial indicators, when incorporating the impact of contingent liabilities, exhibited values with statistically significant differences and a negative response of the share price to contingent liabilities, which is associated to the extent of these potential obligations."
Description
Keywords
Divulgação Provisões Passivos contingentes Ias 37