Características da diversidade de gênero do conselho de administração e o gerenciamento de resultados: evidências nas companhias brasileiras

Abstract

This thesis aimed to analyze the relationship between the characteristics of gender diversity on the board of directors and earnings management in Brazilian companies. The method applied in the thesis was quantitative, analyzing information from the boards of 129 Brazilian companies participating in B3. For the analysis, information was obtained from the members of the board of directors of the 129 companies analyzed, as well as information on gender, education, and experience (at postgraduate level) of each of the members of the board of directors, including full and alternate members. The period studied was from 2014 to 2023. The Modified Jones method and quantile regression were used to analyze earnings management. The main results of this thesis are two. The first result was the characterization of the gender diversity of the board of directors of the companies in the selected sample, analyzing aspects such as the number and gender of directors, as well as the professionalization of women on the board of directors and the evolution of women's participation on the board of directors. Regarding the second result, for the sample studied, four hypotheses were tested. The first three hypotheses were confirmed, namely: (H1) the presence of female directors restricts earnings management practices, (H2) a larger board of directors is negatively associated with high levels of earnings management, and (H3) the education of women on the board of directors is negatively associated with earnings management. The fourth hypothesis was rejected, namely (H4) the experience of women on the board of directors is negatively associated with earnings management.