Quality of accounting information disclosure on technological R&D: comparative analysis of reports filed in Brazil and the United States by Brazilian companies with ADR
DOI:
https://doi.org/10.21680/2176-9036.2025v17n2ID37098Keywords:
Intangible assets, Research and Development, accounting disclosure, american depositary receiptsAbstract
Purpose: To analyze and compare the accounting information disclosure level on technological Research & Development (R&D) expenditures in accounting reports filed in Brazil and the United States by publicly traded Brazilian companies from different industrial sectors and listed as American Depositary Receipts (ADR) on the New York Stock Exchange.
Methodology: Qualitative comparative analisys, based on a multiple case study, with an emphasis on documentary analysis of the 2022 accounting reports filed with the Comissão de Valores Mobiliários (CVM) and the U. S. Securities and Exchange (SEC).
Results: The evidence found shows that there are differences in quality, such as organization, clarity and detailing, in the disclosure of initiatives and expenditures in technological R&D activities presented by the companies studied. In the Form 20-F reports, filed with the SEC, the information is more detailed and organized than the information disclosed in the Standardized Financial Statements (Demonstrações Financeiras Padronizadas - DFP), filed with the CVM, characterizing dependence on the target market and non-compliance with CVM guidelines. The deficiencies identified in the disclosure of information on R&D expenditures highlight the existence of opportunities to reduce information asymmetry between reports.
Contributions of the Study: The study contributes by highlighting the importance of the actions of capital market regulators in complying with current regulations, improving monitoring mechanisms and improving the quality level of information disclosure on R&D expenses in Brazil.
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