Factors related to the level of disclosure of intangible assets after the adoption of IFRS for companies from IGC of BM&FBOVESPA

Abstract

The objective of this study is to identify factors that influence the level of disclosure of information about intangible assets in companies listed at the BM&FBovespa IGC in the period after the adoption of IFRS. For this research, descriptive document and quantitative were outlined. The sample is comprised of 125 nonfinancial companies that make up the Corporate Governance Index (IGC) of BM&FBovespa. The first analysis was based on the Explaining Notes in the Management Reports of Directors which were disclosed in 2011 in order to classify the information highlighted on intangible assets, through a check list developed from the information contained in the CPC 04 R1 (2010). For the observations of the items to be disclosed given in the check list an adapted score from Boff, Beuren and Hein (2009) was applied. For the data analysis, a Multiple Linear Regression was made, relating the size factor, age, classification of business segments, corporate governance, capital concentration, ADR issuance and leverage with the disclosure of information about intangible assets, in order to achieve the research objective. The results indicate that from the factors analyzed, only the variables related to the level of corporate governance, the percentage of common shares and sectoral classification of companies have a significant relationship with the level of disclosure of intangible assets of companies listed at IGC.