Voluntary disclosure in the context of convergence with International Accounting Standards in Brazil

Silvia Consoni, Romualdo Douglas Colauto


Purpose – The purpose of this paper is to verify the influence of the
convergence process to International Financial Reporting Standards
on the voluntary disclosure of listed Brazilian companies.

Design/methodology/approach – A voluntary disclosure metric
was designed and collected from a random sample of 66 companies
registered as active in BM&FBovespa during the 2005-2012 period.
For the hypothesis test it was used panel data regressions with random

Findings – The convergence process to International Financial
Reporting Standards is presented as an exogenous factor that affected
positively and significantly voluntary disclosure in the analyzed period.
It leads to the complementary rationale between mandatory disclosure
and the voluntary disclosure.

Originality/value – The study presents a new metric for measuring the
voluntary disclosure level, with the potential to understand the nature
of the relationship between this and the mandatory disclosure. In the
Brazilian capital market context, governed by the stakeholder model,
convergence to International Financial Reporting Standards induced
an increase on voluntary disclosure quality.


Voluntary disclosure. Mandatory disclosure. International Financial Reporting Standards.

DOI: https://doi.org/10.7819/rbgn.v18i62.2242

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