Journal of Education and Research in Accounting (REPeC)
This scientific journal is maintained by the Academia Brasileira de Ciências Contábeis (ABRACICON), with the mission of disseminating the production of knowledge in the accounting area. The REPeC has electronic and continuos publication (after 2025) and is available free of charge in two languages: Portuguese and English. Qualis CAPES B1 (2013-2016)
Academia Brasileira de Ciências Contábeis
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Vital Industry: Supplier Selection, Monitoring, and Reporting Based on Sustainability Standards
Objective: This case aims to develop students’ ability to reflect on and propose mechanisms for selecting, monitoring, and reporting on suppliers, considering sustainability standards. Method: The case study is designed to be applied in undergraduate and graduate programs in Accounting and Business Administration, particularly in courses that address ESG topics, such as Environmental Accounting, Contemporary Topics, ESG Reporting, and Sustainability, among others. This case is structured into three 90-minute classes and can be implemented using different teaching methodologies, such as mood boards, videos, Padlet, and written reports. Results: Students are expected to discuss the importance of organizations maintaining a good reputation through their Environmental, Social, and Governance (ESG) performance. The case also addresses the disclosure of information and the adoption of IFRS S1/ CBPS 01, IFRS S2/CBPS 02, and GRI standards, and is aligned with the Sustainable Development Goals (SDGs). These disclosures are important because they add value to the business, and the discussions place students in a context where suppliers must adhere to stringent requirements regarding the services and products they provide. Contributions: The case offers a practical perspective and encourages students’ critical reflection on the complexity and relevance of decisions involving environmental and social aspects in the product supply chain, as well as on how such information must be reported.
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Influence of countries’ tax enforcement on the relationship between tax expenditure surprise and the accuracy of financial analysts' earnings forecasts
Objective: To examine the influence of countries’ tax enforcement on the relationship between tax expense surprise and the accuracy of financial analysts’ earnings forecasts. Method: Data from a sample of 4,775 companies across 35 countries from 2001 to 2019 were analyzed using descriptive statistics, correlation analysis, and Ordinary Least Squares (OLS) regression tests. Results: Financial analysts systematically issue optimistic earnings forecasts, and tax expense surprise is incrementally relevant to earnings surprise in explaining analysts’ future errors. These information intermediaries do not efficiently incorporate tax information when issuing their earnings expectations. The findings indicate that analysts use tax information more effectively and improve the accuracy of earnings forecasts in environments with high levels of tax enforcement. However, the results were insignificant when U.S. companies were excluded from the sample. Contribution: These findings underscore the importance of tax enforcement and tax information in shaping financial analysts’ expectations about future performance, contributing to greater efficiency in the capital market.
Influence of countries’ tax enforcement on the relationship between tax expenditure surprise and the accuracy of financial analysts’ earnings forecasts
Para além de ensinar: multipapéis desempenhados pelos docentes universitários e a percepção de justiça organizacional
Objetivo: Analisar a relação entre os múltiplos papéis da carreira docente e a percepção de justiça organizacional dos professores da área de negócios das universidades brasileiras. Método: Aplicou-se um questionário on-line aos docentes dos cursos de Administração de Empresas, Administração Pública e Ciências Contábeis de 79 universidades do Brasil (49 públicas, 23 privadas e 7 mistas). As hipóteses de relação foram testadas por meio da correlação de Sperman e diferença de grupos. Resultados e Contribuições: Identificou-se que a atuação simultânea nos papéis é uma realidade e que exercer o papel de “educador” tende a diminuir as percepções de justiça sobre a distribuição de recompensas. Por outro lado, ao atuar no papel de “pesquisador” os docentes aumentam as percepções de justiça dos procedimentos utilizados para a tomada de decisão. Nos papéis de extensionista e de gestor a tendência de aumento também acontecem, mas para a justiça na distribuição de tarefas. Ainda, verificou-se diferenças significativas nos docentes que atuam em mais de um papel do que aqueles que atuam em apenas um papel. Assim, o estudo promove discussões essenciais sobre a configuração do docente universitário no Brasil e a percepção de justiça desses profissionais.
CRISLAINE DE FÁTIMA GONÇALVES DE MIRANDA
Beyond Teaching: Multiple Roles Played by University Professors and the Perception of Organizational Justice
Objective: To analyze the relationship between the multiple roles of university professors and the perception of organizational justice among professors in the business field at Brazilian universities. Method: An online questionnaire was administered to faculty members from Business Administration, Public Administration, and Accounting Sciences programs at 79 Brazilian universities (49 public, 23 private, and 7 mixed). The hypotheses were tested using Spearman’s correlation and group differences analysis. Results and Contributions: Simultaneous role performance is common in universities. Professors in the “educator” role tend to have lower perceptions of justice regarding the distribution of rewards. In contrast, professors in the “researcher” role exhibit higher perceptions of justice regarding decision-making procedures. Additionally, perceptions of justice increase among those in the “extensionist” and “manager” roles, but only with respect to task distributive justice. Significant differences were found between those performing multiple roles simultaneously and those performing a single role. This study’s results highlight the importance of discussing the configuration of university professors in Brazil and their perceptions of justice.
Financial Restatements and Dividend Policy: Compensation and Signaling Strategies in the Brazilian Capital Market
Results and contributions: Our results showed that companies that restated their financial statements seek to compensate their shareholders with higher dividends when compared to those that did not. In addition, in the following year, these dividends tend to be higher, reinforcing the hypothesis of using dividends as a signaling mechanism, reducing asymmetry, and compensating shareholders. These findings can contribute to researchers interested in the subject, managers, accountants, auditors, regulators, and other stakeholders interested in understanding the implications of the representations on the dividend policy of listed companies. Objective: This study aimed to verify whether the companies that restated the financial statements compensated their shareholders with higher dividends in the years following this event. Gap: Previous literature has suggested that companies with lower-quality financial information tend to pay lower dividends. However, an alternative explanation is that companies that disclose lower-quality financial information seek to signal greater solidity to the market by compensating shareholders with higher dividends. The present study aims to fill this gap by presenting evidence in the context of the Brazilian capital market. Relevance: The study is relevant because it demonstrates that companies with lower earnings tend to compensate their investors in subsequent periods with higher dividends. Impact: Unlike previous studies, it was observed that companies with lower earnings quality may use dividend policies as a strategy to please investors. The study contributes to the risk assessment of auditors, investors, governance committee members, auditing, and regulators. Methods: Data from 275 companies listed on the Brazil, Bolsa, and Balcão (B3) exchange from 2010 to 2020 were analyzed using descriptive statistics, tests of differences between means, and panel data regression analysis.
Um olhar sobre o Traço Narcisista, a Consciência sobre a Segurança Cibernética e Custos de Violação: um estudo com estudantes e profissionais da área contábil
Objetivo: analisar a influência do traço de personalidade narcisista e a consciência sobre segurança cibernética e os custos de violação, à luz da teoria dos Altos Escalões. Método: pesquisa descritiva, de abordagem quantitativa, com duas coletas de dados por meio de um survey: uma com 262 alunos de Ciências Contábeis, outra com 166 profissionais de contabilidade. Houve aplicação de estatística descritiva, correlação e regressão logística. Resultados: estudantes e profissionais têm dificuldade de classificar os custos de violação e informá-los nas demonstrações contábeis. A consciência sobre segurança cibernética os habilita a terem maior conhecimento para informar os impactos desses custos nas demonstrações contábeis e convicção sobre sua classificação. O excesso de confiança dos estudantes, com traços mais marcantes do narcisismo, propiciou relatos de maior consciência cibernética, contudo negaram-se a reconhecer a dificuldade em classificar e informar os impactos desses custos nas demonstrações contábeis. Os profissionais apresentaram maior pontuação narcisista e confirmaram maior conhecimento para informar as violações dos custos nas demonstrações contábeis. A probabilidade de estudantes e profissionais, com consciência cibernética, relatarem maior convicção quanto aos acertos de classificação e de reconhecimento dos impactos dos custos nas demonstrações contábeis, se confirmou. Contribuições: Os achados contribuem com a literatura – as evidências empíricas sobre o tema são limitadas – e com o contexto profissional. Estimulam a reflexão nas empresas e instituições de ensino contábil para elaborar cursos e conteúdos específicos sobre segurança cibernética, a fim de habilitar os contadores ou aspirantes a contador a reconhecerem os impactos financeiros gerados pelos ataques cibernéticos.
A look at narcissist traits, cybersecurity awareness, and breach costs: a study addressing students and professionals from the accounting field
Objective: To analyze the influence of cybersecurity awareness and narcissistic personality traits on breach cost awareness. Method: Descriptive research with a quantitative approach. Data were collected through a survey of two samples: 262 accounting students and 166 accounting professionals. Descriptive statistics and logistic regression were applied. Results: Both students and professionals struggled with classifying breach costs and reporting them in financial statements. Cybersecurity awareness enabled professionals to understand the impacts of these costs better and feel more confident in their classification. Among students with stronger narcissistic traits, overconfidence led to reports of greater cybersecurity awareness; however, they failed to acknowledge their difficulties in classifying and reporting these costs. Professionals exhibited higher narcissistic scores and demonstrated greater knowledge in reporting breach costs in financial statements. Contributions: The findings contribute to the literature, as empirical evidence on this topic remains limited, and offer practical implications for the professional field. They encourage reflection among companies and accounting education institutions on the need to develop specialized courses and content on cybersecurity, equipping accountants and aspiring accountants to recognize the financial impacts of cyberattacks.
Adoption of emerging technologies in a regulated environment
Objective: Analyze the moderation of the environmental context in the relationship between technological and organizational contexts and the adoption of emerging technologies by auditing companies in a regulated environment. Method A descriptive study was carried out, through survey research, of a quantitative nature, with the population being audit companies registered with the Securities and Exchange Commission, with a sample of 114 valid responses, through Structural Equation Modeling (PLS -SEM) and moderation using the “product indicator” method. Results The findings confirm the basic theory of this investigation, the Technology, Organization and Environment (TOE) structure, demonstrating that the technological, organizational and environmental context of a company influence decisions about the adoption of emerging technologies in auditing firms. Regarding the moderation of the environmental context, the results indicate that coercive and mimetic pressures do not moderate and normative pressure positively moderates the relationship between technological and organizational context and the adoption of new technologies. Contribution We highlight the empirical validation of the predictive power of the TOE structure in the adoption of emerging technologies in auditing companies and, in the theoretical field, the advancement and deepening of the discussion of the factors that influence the adoption of new technologies by auditing firms in the Brazilian environment.
A Saúde Mental dos Futuros Contadores no Processo de Formação:
Objetivo: Nesta pesquisa objetivou-se analisar a relação dos sintomas de ansiedade estado e traço na motivação para aprender dos futuros contadores. Metodologia: A metodologia é classificada como quantitativa, descritiva e de levantamento. A amostra foi composta por 181 alunos de graduação. Os dados foram obtidos por meio de questionário e a análise adotou Modelagem de Equações Estruturais com Mínimos Quadrados Parciais. Resultados: Os resultados evidenciaram que a ansiedade traço, por ser uma característica persistente e relacionada à personalidade do indivíduo, é uma determinante negativa para a motivação para aprender. Estudantes com altos níveis de ansiedade traço enfrentam dificuldades em se manter motivados e focados nos estudos, o que pode impactar negativamente sua formação e desempenho acadêmico. Diferentemente da ansiedade traço, a ansiedade estado, que é uma reação temporária a situações específicas, não teve um impacto significativo na motivação dos alunos. Contribuições: O estudo promove avanços à literatura correlatada e facilita a compreensão acerca do comportamento dos discentes de Ciências Contábeis, assegurando a necessidade de atentar-se à saúde mental dos alunos no processo de aprendizagem. Socialmente a academia tem a responsabilidade de tomar medidas e fornecer recursos para ajudar alunos que sofrem de ansiedade, nossa pesquisa reforça isso.
Mental health of students in the educational process:
Objective: Mental health has become a growing concern in the university environment, mainly due to the impact of anxiety on the educational process. This study aimed to analyze the relationship between state and trait anxiety symptoms and the motivation to learn among undergraduate students in Accounting Sciences. Method: This quantitative and descriptive study adopted a survey design. The sample comprised 181 undergraduate students. Data were collected through a questionnaire and analyzed using Structural Equation Modeling. Results: Trait anxiety, a persistent characteristic related to an individual's personality, was identified as a negative determinant of motivation to learn. Students with high levels of trait anxiety experience difficulties maintaining motivation and focus in their studies, which negatively affects academic performance. In contrast, state anxiety, a temporary reaction to specific situations, did not significantly influence student motivation. Contributions: This study contributes to Accounting Sciences by emphasizing the need for institutional interventions aimed at enhancing students' mental health and fostering an academic environment that supports learning and the development of more assertive, more resilient professionals. It also underscores the importance of mental health as a key factor in the quality of training and future accounting practice.
Objetivo: Identificar os fatores que representam as competências docentes de professores percebidos como referência nos cursos de pós-graduação stricto sensu em Ciências Contábeis. Método: Trata-se de um estudo descritivo com abordagem quantitativa. Realizou-se um levantamento junto aos discentes dos cursos de mestrado e doutorado acadêmico em Contabilidade no Brasil. A amostra foi composta por 177 alunos. Utilizou-se a análise descritiva e a análise fatorial exploratória para o tratamento dos dados. Resultados: Foram identificados três fatores: Fator 1 – Competências pessoais, institucionais, de trabalho em equipe, avaliação, planejamento e preparação de conteúdo, comunicação, tutoria e elaboração das metodologias de ensino; Fator 2 – Competência investigativa e debate; Fator 3 – Competência tecnológica. Verificou-se que, embora as competências docentes consideradas inerentes ao processo de ensino sejam reconhecidas, aspectos pessoais e humanos são bastante valorizados pelos discentes em relação ao professor-referência. Contribuições: O estudo contribui para o aprimoramento das práticas pedagógicas e da gestão dos cursos de pós-graduação em Ciências Contábeis, à medida que destaca a valorização das competências técnicas e humanas dos docentes, o que consequentemente irá refletir em sua atuação e na qualidade do processo de ensino pelo qual são responsáveis.
Português The Role Model Educator: Perspectives of Graduate Students in Accountancy
Abstract Objective: To identify the factors representing the teaching competencies of role model educators in Master’s and Doctoral programs in Accountancy from the perspectives of graduate students. Method: This descriptive, quantitative study focused on Master’s and Doctoral students enrolled in Accounting programs in Brazil. The sample consisted of 177 students. Descriptive statistics and Exploratory Factor Analysis were used to analyze the data. Results: Three factors were identified: Factor 1 – (Inter)personal, Institutional, and Didactic-Pedagogical Competencies; Factor 2 – Investigative and Debate Competencies; and Factor 3 – Technological Competencies. While respondents acknowledged the teaching competencies inherent to the educational process, they placed significant value on a role model educator’s personal and human qualities. Contributions: This study contributes to improving pedagogical and managerial practices in graduate Accounting programs by highlighting the importance of both technical and human competencies in educators, which ultimately influence their performance and the quality of teaching.
Relationship between Compliance with Benford's Law and Timeliness of Financial Statements: An Empirical Analysis
Objective: To analyze the relationship between the compliance of accounting numbers with Benford's Law (BL) and the time for publishing Standardized Financial Statements (SFSs). Method: A regression model with panel data was used, in a sample of 205 publicly traded Brazilian companies, between 2010 and 2019. Results: It was found that companies that are in compliance and that are undergoing audit changes disclose their financial statements more quickly. The results suggest that the Big Four pay greater attention and care to ensure that their financial statements are in compliance, resulting in a slower timeliness of the financial statements. This finding was corroborated by the finding that the non-compliance of accounting figures in past periods, due to audit rotation, when the company is audited by the Big Four, results in a slower timeliness of the financial statements. Contributions: The study points out the relationship between BL and the delivery time of DFPs for future research. It highlights the importance of Big Four audits in the quality of accounting information, and points out to stakeholders that companies accounting information, especially those that take longer to disclose and are not audited by Big Four, may be non-compliant with the BL.
Impression Management and economic cycles: a study on Brazilian companies in financial distress
Objective: This study aims to analyze the effects of economic cycles on the relationship between financial distress and impression management in Brazilian companies. Method: The analysis used data from companies listed on the Brazilian stock exchange between 2010 and 2022, applying content analysis, descriptive statistics, correlation tests between variables, and panel data regression with the support of Python and R. The Schumpeter (1939) model was used to determine the economic cycle, classifying the phases based on variations in Gross Domestic Product (GDP) during the period. The Z-Score model of Altman et al. (1979) was applied to assess financial distress, adapted to the companies in the sample as a means of predicting bankruptcy. For the analysis of impression management, the narrative tone metric developed by Henry (2008) was applied to 2,640 management reports. Results: The findings showed that companies in financial distress presented management reports with a more negative tone. During the recession and contraction phases of the economic cycle, statistical significance was found in the association between the variables of interest. These results support the assumptions of Signaling Theory, as companies seek to disclose information in a timely manner, anticipate negative outcomes to mitigate investor uncertainty, and use disclosure as a means to reduce information asymmetry. Contributions: The results assist information users—such as investors, creditors, and regulatory agencies—in identifying impression management practices and serve as indicators of accounting information quality, contributing to more assertive decision-making.
A opinião de um influenciador digital afeta a opinião dos usuários sobre escolhas contábeis das empresas?
Objetivo: O estudo investiga a capacidade de influenciadores digitais de interferirem na opinião dos usuários das informações contábeis sobre as escolhas contábeis feitas pelas empresas ao reconhecer ganhos e perdas. Método: A pesquisa é um experimento, com a participação de 598 estudantes, divididos em dois grupos – aqueles que acessaram apenas um trecho das notas explicativas de uma empresa e os que também assistiram a um vídeo com a opinião de uma influenciadora digital sobre o evento. Ambos os grupos avaliaram os critérios adotados para reconhecer os ganhos e as perdas. Resultados: Os dados foram analisados e os resultados evidenciam que os participantes que assistiram ao vídeo, em ambos os casos, foram mais propensos a discordar do reconhecimento contábil e seguir a opinião da influenciadora. Contribuições: O presente estudo demonstra o poder de persuasão dos influenciadores, em um ambiente que envolve o reconhecimento de eventos que exigem o uso de julgamento contábil. O influenciador digital pode atuar como alguém que reinterpreta a mensagem e, assim, sobrepor sua opinião a um conteúdo contábil específico. O estudo oferece uma contribuição relevante para reguladores, profissionais da contabilidade e usuários em geral, alertando para a necessidade de monitoramento da atuação dos influenciadores, além de destacar o papel das mídias sociais como intermediárias na comunicação de informações complexas.
Can digital influencers shape users’ opinions on companies’ accounting choices?
Objective: This study investigates the ability of digital influencers to shape the opinions of users of accounting information regarding companies’ accounting choices in the recognition of gains and losses. Method: An experiment was conducted with 598 students, divided into two groups: one accessed only an excerpt from a company’s explanatory notes, while the other also watched a video presenting a digital influencer’s opinion. Both groups evaluated the criteria adopted by the companies to recognize gains and losses. Results: The data analysis revealed that participants who watched the video were more likely to disagree with the accounting recognition in both cases and to align with the influencer’s opinion. Contributions: This study demonstrates the persuasive power of digital influencers in contexts involving accounting judgments. The influencer can reinterpret technical messages and, in doing so, override the intended meaning of accounting content. The study offers relevant insights for regulators, accounting professionals, and information users, emphasizing the need to monitor the influence of digital figures and recognizing the role of social media as an intermediary in the communication of complex financial information.
Student profiles and the development of employability skills in innovation environments
Objective: This study aimed to identify the skills required of accountants to work in innovation environments and to compare their predisposition to develop such skills in a multidisciplinary sample of undergraduate students. Method: Data on desirable skills were collected from job advertisements and through interviews with managers. A questionnaire was applied to collect data on student profiles, yielding 465 responses. The content of the advertisements and the results of the interviews were analyzed using a multiple linear regression model to understand the relationships between students' characteristics and their predisposition to develop the required skills. Results: The results showed that technology and technology-based companies value a set of skills that can be divided into two main categories: (i) intrapersonal skills, which include dynamism, autonomy, attention to detail, proactivity, resilience, adaptability, and hands-on skills; and (ii) interpersonal skills, which include oral and written communication, empathy, and teamwork. The profiles of the students in the sample showed that genders were similarly distributed, the participants were on average 25 years old, and most were white, single, enrolled in evening programs, and had attended less than two years of coursework. The analysis of the relationship between student profiles and predisposition to develop skills revealed that characteristics such as program shift, marital status, gender, extroversion, and sensation function influence this predisposition. Contributions: This study presents significant contributions, as it fosters debate on teaching with an emphasis on employability skills. Furthermore, by revealing the importance of these skills and providing information to support curriculum development, it aids in training more qualified professionals. For employers, educators, and program coordinators, it can support planning and highlight the need for teaching methods that serve all students in diverse ways.
Gamification in accounting education using artificial intelligence algorithms
Objective: To analyze the applicability of a game incorporating AI-based models, developed for the Business Budgeting course at a Brazilian public university. Method: Data were collected from secondary sources related to the game. Descriptive statistics and the Mann-Whitney test were used for analysis. Results: The findings describe the game's operation, the strategies used to develop AI-based models, and a comparison between student performance and that of the models. The analysis demonstrated the effectiveness of the strategies and highlighted student engagement in decision- making. The game’s design enables the development of skills such as leadership, initiative, persistence, adaptability, collaboration, and critical thinking. Moreover, the detailed game description offers educators a foundation for replicating it and adopting an innovative active learning methodology. Contributions: The study underscores the relevance of gamification in Accounting education and the integration of AI, which enhances the complexity and realism of decision-making activities. It proposes a novel approach to accounting education that combines gamification and AI to foster more innovative and effective classroom learning.
Tax aggressiveness: the role of political-economic uncertainty and the moderating effect of the credit market in Brazilian companies listed on B³
Objective: This study analyzes the tax aggressiveness of Brazilian non-financial public companies in conditions of political-economic uncertainty and under the influence of the credit market. Method: This study uses quantitative approach. The sample consists of 4,749 observations over 2011-2022. As metrics of political-economic uncertainty, two indices were used at the Brazilian level: the EPU and the IIE-Br. For tax aggressiveness, the variables used were ETR, BTD and CTRIB-DVA, Permanent BTD and Differential ETR. As for the credit market, the metric used was the “Quarterly Survey of Credit Conditions in Brazil” indicator. Results: The regression results indicate that companies are more tax aggressive when there is an increase in political-economic uncertainty and that the supply of credit moderates this relationship. Contributions: The evidence helps investors, tax administrations and government agents to understand the behavior regarding the tax aggressiveness of companies in the face of increased political-economic uncertainty and its implications in the credit market and thus better define the public policy.
Symbolic Compliance or Effective Governance? Board Characteristics and Integrated Reporting in Brazil
Objective: To analyze the influence of Board of Directors' characteristics on the quality of integrated reports disclosed by publicly traded Brazilian companies, from the perspective of Institutional Theory, considering the mechanisms of coercive, normative, and mimetic isomorphism. Method: A content analysis was conducted on the integrated reports of 35 companies listed on B3 between 2016 and 2023, with a quality index constructed based on the dimensions of content, history, assurance, and form. As suggested by the Hausman and Chow tests, fixed-effects multiple regression models were applied to test the hypotheses. Results: The results revealed that gender diversity and board activity obtained negative and statistically significant effects on IR quality, while board independence and firm size showed no significant association. This evidence suggests a process of institutional compliance that is more symbolic than substantive, strongly influenced by regulatory (coercive isomorphism) and normative pressures. Contributions: This study reinforces the applicability of Institutional Theory in the analysis of corporate governance, demonstrating that formal attributes of the Board of Directors do not always result in higher information quality. In practical terms, the findings highlight the need for public policies and corporate initiatives that strengthen board members' effective engagement with the disclosure process, going beyond a mere response to institutional pressures.
RELATIONSHIP BETWEEN EXECUTIVE VARIABLE COMPENSATION AND TAX AVOIDANCE: THE MODERATING ROLE OF NATIONAL CULTURE
Objective: To assess the moderating role of national culture in the relationship between executive variable compensation and tax avoidance. Method: The study population comprised non-financial firms listed on stock exchanges in G-20 countries. The sample consisted of 29,148 firms and 80,891 observations covering the period from 2013 to 2021. Abnormal Book-Tax Differences (ABTD) were used as a proxy for tax avoidance. Data were collected from the Refinitiv Eikon® database, and the analysis was conducted using multiple linear regression, with coefficients estimated through the Ordinary Least Squares (OLS) method. Results: Executive variable compensation is positively associated with tax avoidance. Regarding the moderating effect of national culture dimensions, the findings suggest that the positive relationship between executive variable compensation and tax avoidance is stronger in countries with high levels of individualism, masculinity, and indulgence, and weaker in countries with high power distance, uncertainty avoidance, and long-term orientation. Contributions: The study provides insights for society, executives, and shareholders, offering empirical evidence that may assist in designing more effective compensation schemes to align managerial actions with shareholder interests in corporate taxation strategies.
Effects of the life cycle stage on errors in earnings forecasts and their value relevance
Objective: This study analyzed the effects of the company's life cycle stages on analyst forecast error and on value relevance. Method: A sample of companies listed on the Brazilian capital market was analyzed from 2011 to 2022 with data collected from Refinitiv Eikon® and analyzed using regression models estimated using the System Generalized Method of Moments (System GMM). Results: The results suggest a lower error in earnings per share forecasts in the maturity phase and that investors respond negatively to earnings forecast errors with an optimistic bias, with different intensities depending on the firm's life cycle stage. Therefore, the characteristics of the operating environment and more persistent results of mature companies are associated with lower forecast errors. In addition, the relevance of analysts' earnings forecasts is significantly associated with share prices. Contributions: The findings provide useful evidence for different market agents, including investors, financial analysts, and corporate managers. Studies that investigate the value relevance assigned by investors to different types of information - such as analysts' forecast errors - are essential for better understanding of how the market reacts to signals about the quality of information provided by financial intermediaries, such as financial analysts.
Behind the Scenes of Brazil’s Fiscal Responsibility Law: discussions, stakeholders’ interests, key debates, and foundational documents
Objective: This article aims to investigate the behind-the-scenes aspects of the deliberative process that resulted in the approval of the Fiscal Responsibility Law (FRL), analyzing national and international influences, the pronouncements of the actors involved, and the divergences that marked its formulation. Method: This study adopts a qualitative and exploratory approach, based on content analysis and bibliometric analysis of 967 articles on the FRL. Additionally, 27 meeting minutes from the Special Committee, 28 technical works and studies, and 19 national and international newspaper clippings were examined, with the support of NVivo software for categorizing and processing data. Results: Evidence indicates that the FRL was influenced by international experiences, especially New Zealand’s Fiscal Responsibility Act and IMF recommendations. The discussions focused on personnel expenses, credit operations, and outstanding payables, revealing tensions between the rigidity advocated by oversight bodies and the flexibility requested by states and municipalities. Contributions: This study shows that the FRL results from political negotiations, diverse interests, and international pressures, consolidating principles of planning, transparency, and accountability. The analysis reinforces its understanding as a landmark of public governance in Brazil and supports future reforms and research on fiscal responsibility.
Risk Management in Brazilian Federal Universities: Evaluating the Achievement of Strategic Objectives
Objective: To analyze how risk management is configured to support performance in achieving strategic objectives in Brazilian federal universities. Method: Data from 35 federal universities were analyzed using fuzzy-set Qualitative Comparative Analysis (fsQCA), which enables a configurational understanding of organizations. Using fsQCA, the study sought to analyze connections between the performance of federal universities and the following conditions: risk management maturity; alignment of the internal control system; extent of use of management control systems; implementation time of the risk management policy; adoption of an implementation plan and/or methodology to guide risk management; and organizational size. The performance dimensions captured the main areas related to the universities’ objectives: teaching, research, human resources, and financial resources. Results: The identified configurations were adapted to contingent factors, such as size, and revealed key factors associated with high performance in achieving strategic objectives. The following factors stood out: the establishment of a formal structure – through the adoption of an implementation plan and/or risk management methodology –, the maturity of risk management, the alignment of internal control systems (adequacy to risk management), and the use of management control systems to monitor performance and risks, as well as in disseminating a risk culture. Evidence suggests that risk management is integrated into the organizational activities of some of the institutions investigated, interacts with existing control systems, and acts as a governance mechanism aimed at achieving strategic objectives. Contributions: The study offers relevant insights by employing a configurational approach to explore the relationship between risk management and performance in achieving strategic objectives, supporting practical recommendations by highlighting the complexity and non-linearity of implementation processes, as well as their dependence on dynamic interactions with institutional control systems. Furthermore, this study advances the theory by empirically demonstrating equifinality in the risk management arrangements adopted in universities and by offering a model to analyze the complementarity between different control systems.
Risk Management in Brazilian Federal Universities: An Evaluation Focused on Achieving Strategic Objectives
Purpose: To analyze how risk management can be structured to support performance in achieving strategic objectives in Brazilian federal universities. Method: Data from 35 federal universities were analyzed using Fuzzy-set Qualitative Comparative Analysis (fsQCA). Results: The identified configurations revealed key factors associated with high performance in achieving strategic objectives, particularly in larger federal universities. These include the establishment of a formal structure—through the adoption of an implementation plan and/or risk management methodology—, risk management maturity, alignment of internal control systems, and the use of managerial control systems to support risk management. The findings suggest that, in some of the institutions investigated, risk management is integrated into organizational activities, interacts with existing control systems, and operates as a governance mechanism oriented toward the achievement of strategic goals. Contributions: The study offers relevant insights by employing a configurational approach to explore the relationship between risk management and performance, providing practical recommendations while highlighting the complexity and non-linearity of implementation processes and their reliance on dynamic interactions with institutional control systems.
Determinantes individuais e organizacionais da competência digital de profissionais de contabilidade gerencial
Objetivo: Propor um instrumento para mensurar a competência digital de profissionais de contabilidade gerencial e identificar os fatores individuais e organizacionais mais relevantes associados a essa competência. Método: Realizou-se um levantamento com 109 profissionais de contabilidade gerencial para desenvolver e validar uma escala de competência digital composta por 10 itens, seguindo as etapas metodológicas de desenvolvimento de escalas (elaboração de itens, construção da escala e avaliação da dimensionalidade, confiabilidade e validade), bem como análises fatoriais exploratória e confirmatória. Também foram examinadas variáveis individuais (cargo, experiência, idade, gênero, escolaridade) e organizacionais (departamento de análise de dados, afinidade tecnológica, porte da empresa, transformação digital). Resultados: Os resultados indicam que fatores individuais estão significativamente associados à competência digital dos profissionais de contabilidade gerencial. Especificamente, a competência digital declina com a idade, mas é mais elevada entre os profissionais que ocupam cargos de controladoria e aqueles com maior interesse em tecnologia. Além disso, a competência digital está negativamente associada à presença de um departamento de análise de dados independente na organização. Contribuições: Este estudo apresenta várias contribuições. Primeiramente, representa um avanço na literatura sobre digitalização na contabilidade gerencial, evidenciando que características individuais desempenham um papel central no aprimoramento da competência digital na área contábil e financeira. Em segundo lugar, traz uma contribuição metodológica, ao introduzir uma nova escala para mensurar a competência digital de contadores de contabilidade gerencial. Por fim, oferece implicações práticas, ao sugerir que departamentos de análise de dados independentes podem, inadvertidamente, dificultar o desenvolvimento da competência digital desses profissionais.
Individual- and Firm-level Determinants of Management Accountants´' Digital Competence
Objective: Propose an instrument to capture digital competence in Mas and identify the most relevant individual- and firm-level factors associated with the digital competence of MAs. Method: We survey 109 MAs to develop and validate a 10-item digital competence scale, following the methodological steps of scale development (items generation, scale construction, dimensionality assessment, reliability, and validity) and data analysis (exploratory and confirmatory factor analysis). We also examine individual (position, experience, generation, gender, education) and firm-level (data analytics department, tech affinity, size, digital transformation) variables. Results: Our results show that individual factors are significantly associated with MAs’ digital competence. Specifically, digital competence declines with age but is higher among MAs who hold a controller position and those with greater interest in technology. Also, we find that MAs’ digital competence is negatively associated with the presence of an independent data analytics department within the organization. Contributions: This article offers several contributions. First, it advances management accounting literature on digitalization by showing that individual characteristics play a key role in enhancing digital competence within the accounting and finance function. Second, it provides a methodological contribution by introducing a novel scale to measure management accountants’ digital competence. Finally, it offers practical insights, suggesting that independent data analytics departments may actually hinder MAs’ development of digital competence.
Potencialidades da Modelagem de Equações Estruturais em Mínimos Quadrados Parciais (PLS-SEM), com abordagem formativa, na pesquisa contábil
Accounting research faces methodological challenges when investigating complex phenomena, often modeled by interrelated latent variables. From this perspective, Structural Equation Modeling based on Partial Least Squares (PLS-SEM) has stood out as a robust alternative to multiple regression, especially for modeling formative constructs. Unlike traditional methods, PLS-SEM allows the simultaneous estimation of direct, indirect (mediated) and moderated relationships, being particularly useful in the analysis of documentary and secondary data, widely used in financial accounting. In view of the above, this editorial explores the potential of the PLS-SEM formative approach in accounting research, highlighting applications in corporate governance, audit quality, organizational sustainability and operational efficiency. Modeling second-order constructs is discussed as a solution to capturing the complexity of these phenomena. Furthermore, the relevance of PLS-SEM is emphasized in the analysis of mediating and moderating effects, which can hardly be tested by traditional regressions. It is concluded that PLS-SEM enables more comprehensive and detailed analyzes in accounting research, providing statistically robust models and greater precision in the interpretation of results. The article contributes to the literature by highlighting the applicability of this technique and encouraging its adoption in accounting investigations.
João Carlos Hipólito Bernardes do Nascimento
The Potential of Partial Least Squares Structural Equation Modeling (PLS-SEM) with a Formative Approach in Accounting Research
Accounting research faces methodological challenges when investigating complex phenomena, often modeled by interrelated latent variables. In this context, Partial Least Squares Structural Equation Modeling (PLS-SEM) emerges as a robust alternative to multiple regression, particularly for modeling formative constructs. Unlike traditional methods, PLS-SEM allows for the simultaneous estimation of direct, indirect (mediated), and moderated relationships, making it especially useful for analyzing documentary and secondary data, which are commonly used in financial accounting. Therefore, this editorial explores the potential of the PLS-SEM formative approach in accounting research, highlighting applications in corporate governance, audit quality, organizational sustainability, and operational efficiency. The use of second-order constructs is discussed as a solution for capturing the complexity of these phenomena. Additionally, the relevance of PLS-SEM is underscored in the analysis of mediating and moderating effects, which are challenging to assess through traditional regression methods. By enabling more comprehensive and detailed analyses, PLS-SEM provides statistically robust models and greater precision in interpreting results. This article contributes to the literature by demonstrating the technique’s applicability and encouraging its adoption in accounting research.
Configuration of Management Control Systems as a Package: A Systemic Approach
Objective: This study aimed to discuss a theoretical framework that contributes to the establishment of analytical controls for management control systems (MCSs). Method: The research method employed two procedures: first, a literature review, and second, a case study of an MCS model structured around the concept of subsystems. Results: The first result demonstrates the relevance and contribution of a systems approach to configuring the analytical controls of MCSs. The second presents and discusses a concrete and conceptually robust proposal for MCSs designed from a systems perspective. The third result involves a critical evaluation of Malmi and Brown’s (2008) model in light of the systemic approach. Contributions: This study offers meaningful contributions to the academic field by adding new knowledge to MCSs research. It also contributes to business practice by presenting conceptual and practical guidelines that support professionals involved in implementing MCSs in organizations.
Reflections on Current Brazilian Accounting Research
This text argues that Brazilian accounting research has shifted from the extreme normativism of the past to the extreme positivism that characterizes the present. Propositional studies have virtually disappeared, and research now focuses almost exclusively on testing what already exists, with little or no creation directed toward the standardization of corporate accounting. This raises a fundamental question: Who, exactly, is creating? What we observe is that regulatory bodies—not academia—have become the main agents of accounting innovation. Even more concerning is the growing volume of positivist studies and publications that add little value to accounting theory and practice. In this context, it is essential to bring both approaches together, establishing a virtuous circle: create to discuss, test (normativism), practice, test again, refine (positivism), debate, and create again—completing the cycle. Finally, the text also calls for great caution regarding the specialization driven by taxonomy, which often leads us to lose sight of the broader picture.