This research seeks to discover if there is any relationship between the delay in the publication of the annual financial statements of companies, and their level of corporate governance, assuming that the delay on its liberation would indicate a smaller transparency of the company. For that, proxy variables for corporate governance were defined, as well as for other dimensions of the company that can, potentially, explain that discrepancy. Ordinary Least Square and Tobit models were used. The results indicate, among other things, that the excess of control by controller shareholders tends to cause a larger delay in the liberation of the statements, but the presence of the company in BOVESPA's differentiated corporate governance levels, as well as the Index for Corporate Governance Quality do not have relationship with the delay.
Download Info
To download:
If you experience problems downloading a file, check if you have the
proper application to
view it first. Information about this may be contained
in the File-Format links below. In case of further problems read
the IDEAS help
file. Note that these files are not on the IDEAS
site. Please be patient as the files may be large.
Publisher Info
Paper provided by University Library of Munich, Germany in its series MPRA Paper with number
9068.
Length: Date of creation: 02 Jan 2008 Date of revision: Publication status: Published in Contabilidade Vista & Revista 1.19(2008): pp. 61-82 Handle: RePEc:pra:mprapa:9068
Find related papers by JEL classification: G14 - Financial Economics - - General Financial Markets - - - Information and Market Efficiency; Event Studies M0 - Business Administration and Business Economics; Marketing; Accounting - - General M41 - Business Administration and Business Economics; Marketing; Accounting - - Accounting - - - Accounting
This paper has been announced in the following NEP Reports: