Suchergebnisse

Law n. 11,638/2007 legitimized the International Financial Reporting Standards (IFRS) adoption process in Brazil and introduced an accounting system detached from tax purposes in the country. This law aims to reduce the influence of tax law on accounting standards and improve the quality of financial reporting, as IFRS are considered to be higher quality standards. International literature shows a reduction in earnings quality in environments where accounting and tax rules are strongly linked. Moreover, the influence of tax legislation on financial accounting is seen to encourage unconditional conservatism, a bias with no advantages for financial market efficiency. Thus, tax neutrality is expected to provide a more favorable institutional environment for quality financial reporting by detaching corporate accounting from tax accounting. In light of the above, this study aims to verify whether the advent of tax neutrality influences unconditional conservatism in Brazilian public companies. The methodology used involves panel data regressions. The sample consists of non-financial publicly-traded companies with information published in Economática® covering 2002 to 2014. The results show differences in the relationship between taxation and financial reporting between firms that are subject to different levels of monitoring in the Brazilian stock market. Evidence of unconditional conservatism is only found in companies that are subject to greater market monitoring. In this group, it is observed that taxation does not induce unconditional conservatism in reported earnings, which is expected in a tax neutrality context. ; A Lei nº 11.638/2007 (Brasil, 2007) legitimou o processo de adoção das International Financial Reporting Standards (IFRS) no Brasil e introduziu um regime contábil desvinculado da finalidade tributária no país. Dentre os objetivos da referida lei estão a redução da influência da legislação fiscal nas normas contábeis e a melhora na qualidade do reporte financeiro, uma vez que as IFRS são consideradas normas de qualidade superior. A literatura internacional apresenta evidências de redução no poder informativo dos lucros em ambientes nos quais normas contábeis e tributárias estão fortemente vinculadas. Ademais, a influência da legislação fiscal sobre a contabilidade financeira é apontada como incentivo ao conservadorismo incondicional, viés que não apresenta vantagens à eficiência dos mercados financeiros. Assim, infere-se que a neutralidade tributária pode proporcionar um ambiente institucional mais favorável ao reporte financeiro de qualidade ao desvincular a contabilidade societária da contabilidade fiscal. Diante do exposto, o presente artigo tem o objetivo de verificar se o advento da neutralidade tributária influencia o conservadorismo incondicional nas companhias abertas brasileiras. A metodologia utilizada envolve regressões para dados em painel. A amostra é composta por companhias não financeiras de capital aberto com informações divulgadas na Economatica® no período de 2002 a 2014. Os resultados evidenciam diferenças na relação entre tributação e reporte financeiro entre firmas sujeitas a diferentes graus de monitoramento no mercado acionário brasileiro. São encontrados indícios de conservadorismo incondicional em empresas sujeitas a maior monitoramento de mercado, apenas. Neste grupo, observa-se que a tributação não induz o conservadorismo incondicional nos lucros divulgados, o que é esperado em um contexto de neutralidade tributária.

In the U.S., network neutrality policy has been on a trajectory of escalating political instability since the early 2000's. As explained in Cherry (2020), this trajectory can be understood as a microcosm of the more general trajectory of political dysfunction under U.S. governance that coincides with the era of deregulatory policymaking. Under U.S. governance, adversarial legalism - that is, lawyer-dominated litigation - has evolved as a means of policymaking in the U.S., the role of which has intensified with the rise of divided government and party polarization. The federal Telecommunications Act of 1996 was enacted during the waning period of bipartisan negotiation of the 1990's, and its implementation has been left to a heightened period of adversarial legalism under hyperpartisanship between the Republican and Democratic political parties. As a result, the instability of U.S. network neutrality policy is reflective of the current phase of hyperpartisanship within a process of adversarial legalism. [.] This paper expands upon my prior research regarding U.S. deregulatory telecommunications policies (Cherry, 1999, 2003, 2006, 2010, 2015, 2020) to discuss the importance of the I-VOIP litigation, in both the U.S. and the international community. Under U.S. law, its importance arises from legal flaws in the 8th Circuit Court ruling in Charter Advanced Services v. MPUC and the resultant legal confusion as to the scope of federal preemption of state law. It is also the manifestation of yet another step in the trajectory of political instability and flawed legal analyses in U.S. telecommunications policy, distorting the economic and technical evolution of U.S. telecommunications markets. The consequences, however, will not be confined to the U.S. but will likely diffuse to international markets as well. Moreover, understanding these developments in the U.S. can serve as a case study for identifying how political instability in other nations may be distorting telecommunications regulation, markets and technology. International regimes, in turn, may require further evolution in recognition of nations' political instability on global telecommunications.