Voluntary disclosure in the context of convergence with International Accounting Standards in Brazil

• Main Author: Consoni, Silvia
• Publication Date: 2016
• Other Authors: Colauto, Romualdo Douglas
• Format: Article
• Language: eng; por
• Source: Revista Brasileira de Gestão de Negócios (Online)
• Download full: https://rbgn.fecap.br/RBGN/article/view/2242
• topic: Voluntary disclosure. Mandatory disclosure. International Financial Reporting Standards.; Divulgação voluntária. Divulgação obrigatória. Normas Internacionais de Contabilidade.

Purpose – The purpose of this paper is to verify the influence of theconvergence process to International Financial Reporting Standardson the voluntary disclosure of listed Brazilian companies.Design/methodology/approach – A voluntary disclosure metricwas designed and collected from a random sample of 66 companiesregistered as active in BM&FBovespa during the 2005-2012 period.For the hypothesis test it was used panel data regressions with randomeffects.Findings – The convergence process to International FinancialReporting Standards is presented as an exogenous factor that affectedpositively and significantly voluntary disclosure in the analyzed period.It leads to the complementary rationale between mandatory disclosureand the voluntary disclosure.Originality/value – The study presents a new metric for measuring thevoluntary disclosure level, with the potential to understand the natureof the relationship between this and the mandatory disclosure. In theBrazilian capital market context, governed by the stakeholder model,convergence to International Financial Reporting Standards inducedan increase on voluntary disclosure quality.