Bad (good) news and delay (anticipation) of financial statements’ disclosure

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Anderson Brito Vivas
http://orcid.org/0000-0002-7630-5404
Felipe Ramos Ferreira
http://orcid.org/0000-0002-0469-9176
Fábio Moraes da Costa
http://orcid.org/0000-0002-2098-4006

Abstract

Managers have discretion over the timing of accounting information disclosure; existing literature has investigated the potential determinants regarding this choice. Thus, this study aimed to evaluate whether the type of accounting information is a factor that influences the anticipation of its disclosure to external users. The dataset comprises information provided by Brazilian companies listed on the Brasil Bolsa Balcão (B3) between 2010 and 2016. The research employed linear regression and the logistic regression model to evaluate whether type of news is a determinant for the timing of financial disclosures. Empirical evidence indicates that the nature of information (i.e., good or bad news) is related to the time taken (i.e., postponement or anticipation) in disclosing quarterly accounting figures of companies. Overall, our results contribute to the disclosure literature in Brazil and indicate that postponements are associated with the disclosure of negative news.

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How to Cite
VIVAS, A. B.; FERREIRA, F. R.; DA COSTA, F. M. Bad (good) news and delay (anticipation) of financial statements’ disclosure. RAE - Revista de Administracao de Empresas , [S. l.], v. 60, n. 5, p. 352–364, 2020. DOI: 10.1590/S0034-759020200505. Disponível em: https://periodicos.fgv.br/rae/article/view/81787. Acesso em: 24 may. 2024.
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Articles

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