Environmental responsibility and earning management in companies of corporate governance in BM&f bovespa

Abstract

The goal of this study is to examine whether companies that have the characteristic of being socially and environmentally responsible tend to manage more their earning than those without this characteristic. Based on Heltzer’s (2011) research, a descriptive research with quantitative approach was carried out, through documentary analysis, in companies of corporate governance levels in BM & F Bovespa, differentiating them by the existence of environmental activities or not. Four models were used to calculate the index of earnings management, being one the original Jones model and the other three modified models from the first. The results showed that companies that are environmentally responsible have an index greater negative earnings management than companies without this characteristic. It was concluded that environmental responsibility activities have significantly influenced the outcome of the socially and environmentally responsible companies surveyed, which indicates earnings management through operational decisions, even if not consciously, by management.

Keywords

• Responsabilidade ambiental. Gerenciamento de resultados. Decisões operacionais dos gestores. Empresas de governança corporativa. Socioambientalmente responsáveis