Factores explicativos da divulgação de informação sobre instrumentos derivados:...

• Autor(es): Lemos, Kátia ; Rodríguez Ariza, Lázaro ; Rodrigues, Lúcia
• Data: 2014
• Identificador Persistente: http://hdl.handle.net/11110/606
• Origem: CiencIPCA
• Assunto(s): Instrumentos derivados; Índice de divulgação; Empresas cotadas
• Tipo de Documento: Documento de conferência
• Idioma: Inglês

Descrição

This study analyses the determinants of the derivative instruments disclosure level by Portuguese listed companies. It is built a disclosure index to measure the disclosure level using the Consolidated Annual Reports for 2008. The hypotheses have been tested through a linear regression model using the disclosure index as the dependent variable and companies’ characteristics as independent variables. Multivariate results suggest that firm size, quality of the external auditor, belonging to PSI 20, the market to book value ratio and the percentage of capital hold by the board of directors are associated with the disclosure level.