Timeliness of Accounting Information in Family Controlled and Managed Companies in Brazil |
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| Authors: | Cristian Baú Dal Magro Salete Turra Roberto Carlos Klann Sirlei Lemes |
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| Affiliation: | 1. Department of Accounting, Federal University of Blumenau—FURB, Blumenau, Brazil;2. School of Accounting, Federal University of Uberlandia—UFU, Uberlandia, Brazil |
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| Abstract: | The aim of this study was to assess the influence of family control and management in the quality of accounting information in Brazilian companies, with a focus on timeliness. The sample consisted of 72 Brazilian companies and 1,656 observations from 2008 to 2013. The results show that family-controlled companies are quicker to recognize good news related to the price of the respective stock. On the other hand, family managed companies showed low accounting timeliness in relation to recognition of good news. The findings contribute to the agency theory and the literature on family firms and confirm that such companies experience fewer agency problems arising from conflicts between majority and minority shareholders. In addition, the agency conflicts between the management and minority shareholders can be compounded by the recognition of good news not being in family managed firms. |
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| Keywords: | Accounting information quality accounting timeliness family control and family management property structure |
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