Determinantes da Evidenciação da Mensuração a valor justo de instrumentos financeiros no contexto das instituições financeiras bancárias

Abstract

Accounting should be a source of useful information about the economic-patrimonial situation of the entities, to aid the decision-making of their users. The generation of accounting information requires economic phenomena to be recognized, measured and, finally, disclosure. Therefore, financial statements provide information about the performance of entities, and therefore, may reduce the uncertainty of investors and other users of accounting information. The fair value is defined as the amount received to sell an asset or paid to transfer a liability, under normal market conditions, between informed and conscious participants. The aim of this study is to identify the determinants of the disclosure of the fair value measurement of financial instruments by the banking financial institutions. These entities typically have significant amounts of financial instruments that must be reported at fair value, to which the disclosure requirements set forth in accounting standards apply. For this purpose, a sample composed of 132 observations of 20 Brazilian open capital banks was used, from 2010 to 2017. Using a checklist based on the recommendations of CPC 46 on disclosure of fair value measurement; we obtained the individual disclosure index of the banks, which reflects the degree of compliance with the items prescribed in the regulations. This index was used as a dependent variable in a regression model for fixed effects panel data, estimated by feasible generalized least squares. From the evidences obtained, the hierarchy levels of financial assets and liabilities, CPC 46, profitability, size, Basel Index, uptime and level of corporate governance were considered statistically significant, at the level of 5%, to explain the trend of individual disclosure. Although the results indicate that there was an increase in the disclosure of fair value measurement of financial instruments as of the effective date of CPC 46 in 2013, it is observed that no bank financial institution fully demonstrated the requirements regarding the measurement of fair value, normative accounting.