Determinants of the loss to the term of financial disclosure reports by Brazilian publicly traded companies

Abstract

This article aims to verify which factors determine the loss of financial disclosure reports by publicly traded companies in Brazil. An amount of 152 companies were used in the research, which 76 lost the disclosure term of their financial reports in at least one financial year in the period from 2010 to 2016 and another 76 that did not lose the term in the same period. The size, type of auditor, indebtedness and impairment in the year were tested in the determinants of the loss term, through the application of logistic regression, attributed to 1 to companies that missed the deadline and otherwise in each year. The results show that, in relation to the probability of losing the term of disclosure of financial reports, companies audited by Big Four are less likely; indebted companies are more likely; and companies with losses in the year are more likely. The variable had no significant statistical result.

Keywords

• Tempestividade
• Divulgação corporativa
• Perda do prazo de divulgação