The timeliness of accounting information in Brazilian family businesses

ABSTRACT The aim of this study was to analyze the timeliness of accounting information in Brazilian family businesses, and we chose a descriptive, documentary and quantitative research method for this purpose. The sample consisted of 124 companies, covering a period from 2010 to 2013. The results showed that earnings per share, overall company size and sales growth were significant variables in explaining returns on share price. In terms of timeliness, it was noted that accounting information was less timely in the case of family businesses when considering a long-term view of the return on share price (15 months). When a short-term view was considered (3 and 6 months), the accounting variables were not found to be significant, and it was not possible to confirm if family businesses had more or less timely information. The originality of this study lies in the fact that it investigates the effect of family management/control over the timeliness of financial reporting. This theme has not previously been investigated within the Brazilian scenario, and it addresses the quality of the accounting information of family businesses from a different perspective to that of other studies, which have opted to use accounting conservatism and earnings management.

摘要 本研究旨在分析巴西家族企业会计信息的及时性，为此采用描述性、文献性与定量研究方法。研究样本涵盖124家企业，研究时段为2010年至2013年。研究结果显示，每股收益、企业总体规模与销售增长率均为解释股价收益的显著变量。就及时性而言，若以股价收益的长期视角（15个月）考量，家族企业的会计信息及时性相对更低。若采用短期视角（3个月与6个月），则未发现会计变量存在显著影响，亦无法证实家族企业的会计信息及时性更高或更低。本研究的创新之处在于，其探讨了家族式管理/控制对财务报告及时性的影响。该主题此前尚未在巴西场景中得到研究，且本研究从不同于以往研究的视角探讨家族企业会计信息质量——过往研究多采用会计稳健性与盈余管理作为分析维度。