Search results

This paper aims to explain the extent of social responsibility disclosure by Brazilian philanthropic higher education institutions (PHEIs). This paper assumes that there is information asymmetry between these organizations and their stakeholders.

The presence of indicators on the organizations’ webpage generated a disclosure index for each PHEI of the sample. Afterwards, this paper performed regression tests, which identified the determinants of PHEIs social responsibility disclosure extent.

The results support the legitimacy theory as a theoretical basis for social responsibility disclosure extent. The evidenced indicators and the non-rejected hypotheses, related to complexity, diversification, regional factor, specific event and quality, confirm the concern with transparency and accountability of commitments assumed by the social contract.

This research is limited to social responsibility disclosure related to the legitimacy theory and the interests of some stakeholders and to Brazilian PHEIs and their webpages. These limitations mean opportunities for future research studies addressing different information disclosure, foundations of other theories, interests of each specific stakeholder or other stakeholders in other communication channels and other countries, which enable comparisons of results.

The disclosure of extent determinants serve as the basis for the establishment of disclosure and accountability policies for PHEIs.

The originality of this research consists of analyzing the determinants of disclosure from the information of the stakeholders’ interest. They are able to legitimize organizations, allowing them to remain in the community where they operate.

This systematic literature review aims to identify how literature approaches motivations for committing fraud in financial statements and presents a framework on these motivations in the light of organismic integration theory (OIT).

Therefore, initially, 251 articles were analyzed. Through a systematic review of the literature, 25 were submitted to content analysis.

The findings suggest that the OIT explains motivational processes neglected by traditional theories, such as the fraud triangle and agency theory. Both theories consider that all human beings are utilitarian by nature. The authors expect that the better we understand the motivational factors that contribute to the large-scale endorsement of immoral behavior, it would be easier to prevent accounting fraud incidents.

This work went to the limit of the proposition of premises; however, other authors can be to advance to the empirical tests.

So, different people have different motivations for committing fraud. For this reason, it is important that organizations, auditors, regulatory and professional bodies that are engaged in combating such dysfunctional behaviors seek to know more deeply whether people are more externally or internally motivated.

This recognition will make it possible to design adequate rules and controls, rather than assuming that everyone is equal, and will be discouraged from committing fraud only when there is a severe punishment associated with it.

This study adds to the stream of scholars who analyze fraud from a broader perspective than the assumption that all beings are rational and seek to maximize their well-being. However, to the best of the authors’ knowledge, this is the first study to analyze the phenomenon of fraud from the perspective of the OIT.

The interest paid on own capital can benefit companies in the Brazilian capital market as it can be considered a business expense and is, therefore, deductible as a corporate tax. The purpose of this paper is to assess the impact of interest on equity (IOE) on capital structure decisions.

The initial sample consisted of 524 publicly traded companies from different industries in the Brazilian capital market that were listed on Bovespa. Companies in the finance, insurance and funds industries were excluded from the sample due to the unique features of these financial intermediaries. Some companies in the initial sample were excluded due to a lack of published data, inactivity during the sample period, etc. Thus, the paper excluded those companies that did not have valid observations or failed to publish them. The final sample included 370 companies and covered the nine-year period from 1998 through 2006.

To this end, the authors identified the main determinants of capital structure and analyzed, through panel data, the relationship of IOE in addition to other determinants of capital structure, such as size, profitability, investment opportunities, risk, sales growth, real interest rate and real exchange rate, in corporate debt. The novel contribution of this study is the inclusion and analysis of the IOE in studies on the determination of capital structure of Brazilian companies. A new capital structure scenario was created when Law No. 9.249/95 required changes in legislation, ceasing the restatement of balance sheets and allowing companies to compensate their stockholders through IOE. Before this change, companies could only benefit from the tax benefits of debt, using debt capital. Now, they can also benefit from the use of equity because, by requiting equity through the IOE, deductions of income tax and social contributions on net income are allowed by tax law because the IOE may be considered a financial expense.

: The authors were not able to find any other publication of a similar study in a review of the extant empirical literature.