| Journal: | BAR - Brazilian Administration Review |
| Database: | CLASE |
| System number: | 000337217 |
| ISSN: | 1807-7692 |
| Authors: | Medeiros, Otavio R. de1 Quinteiro, Luis Gustavo do Lago2 |
| Institutions: | 1Universidade de Brasilia, Brasilia, Distrito Federal. Brasil 2Tribunal Superior Eleitoral, Brasilia, Distrito Federal. Brasil |
| Year: | 2008 |
| Season: | Abr-Jun |
| Volumen: | 5 |
| Number: | 2 |
| Pages: | 160-176 |
| Country: | Brasil |
| Language: | Inglés |
| Document type: | Artículo |
| Approach: | Analítico |
| English abstract | The extant literature provides evidence on the impact of financial disclosure environments on international capital mobility. However, to our knowledge, there are no such studies including Latin-American countries. We aimed to fill this void by assessing the influence of accounting information on international capital mobility in a twenty-two-country sample, including the three largest Latin-American countries: Argentina, Brazil and Mexico. The countries included in the sample represent around 80% of the world’s GDP from 1995 to 2001. Our empirical results show with a 99% confidence level that the degree of disclosure of value-relevant accounting information has positively influenced international capital mobility. We also show, with a 95% confidence level, that countries where financial accounting is less aligned with tax accounting present higher international capital mobility. The three Latin-American countries studied present relatively low levels of disclosure among the sampled countries. However, whereas Argentina and Brazil show low levels of capital mobility, Mexico stands out with a high capital mobility, which we reckon could be accounted for by the country’s trade and investment connections with the US and by its participation in the NAFTA |
| Disciplines: | Administración y contaduría, Economía |
| Keyword: | Contaduría, Inversiones, Movilidad de capital, Contabilidad financiera, Inversión extranjera directa, CAPM, América Latina |
| Full text: | Texto completo (Ver PDF) |
