O reconhecimento de ativos fiscais diferidos e o gerenciamento de resultados no contexto da adoção das normas internacionais de contabilidade

Abstract

This research deals with the accounting recognition of deferred tax assets (AFD), resulting from temporary differences and tax losses, in the context of the adoption of the International Financial Reporting Standards (IFRS). The objective was to analyze the impact of IFRS adoption on the recognition of deferred tax assets as result management (GR) practice in Brazilian companies in the Ibovespa. Public data extracted from the Economática® database, from the Finance and Risk Laboratory (RiskFinLab) of the University of São Paulo School of Economics, Business and Accounting (FEA USP), and data available on the B3 website were used. The analysis period comprised 2006 to 2017, due to the adoption of international accounting standards in Brazil has taken place since 2008, with the implementation of various accounting standards (Technical Pronouncements issued by the Accounting Pronouncements Committee) from 2010. To analyze the effects of IFRS adoption on the AFD recognition, windows were created which characterize the pre-implementation, intermediate and post-implementation periods of IFRS. As a metric for result management, was used the Modified Jones model, and as an additional robustness procedure the original Jones model, to better capture how well companies manage their results or not. The final sample consisted of 81 companies, resulting in 764 observations. In the analysis regarding the origin and nature of AFD, it was noted that besides the tax losses, 137 distinct designations generated AFD based on temporary differences (AFD DT), showing the lack of uniformity in publications, as well as an increase of 145.1 % in the quantity of assignments (51 items to 125 items) in the post IFRS period, resulting in an increase in the amounts recognized. There was also a considerable increase in the standard deviation of AFDs in the post IFRS period, showing greater dispersion in AFD recognition levels. To verify the impact of GR practices on AFDs recognition, and how such impact was affected by IFRS adoption, models were estimated using the Generalized Estimating Equations (GEE) method including terms of interaction between GR and dummy variables representing the intermediate and post implementation periods of IFRS. The result was statistically significant at 10% in the intermediate and post IFRS periods in the AFD DT in the modified Jones model and at the 5% level in the Jones model, indicating that the sensitivity of the AFD to GR is lower in the intermediate and post IFRS. Also, there was noted a tendency for companies to recognize more AFD, specifically AFD DT, when their current liquidity (LC) is lower. And for the ROE index there is a tendency of companies with more result management to recognize more AFD, more specifically AFD DT. However, in the Post IFRS period this practice decreased. In consequence of the obtained results it can be mentioned that the Institutional Theory supports the studied phenomenon, since there was an institutional change (IFRS), causing the sensitivity of the AFDs to the GR decreased in the post IFRS period. Finally, the contribution of the thesis lies in testing AFD recognition with GR models.