| dc.description.abstract | This dissertation aimed to describe the effect of NBC TG 48 on the voluntary
adoption of hedge accounting by companies listed on B3. A logistic regression was
used to analyze the relationship between the adoption of HA and NBC TG 48. The
sample was composed of 214 companies that had their shares traded on B3 in 2017
and 2018, a period that covers one year before and one year after the entry into force
of NBC TG 48. The results of the descriptive analysis indicate that, in the period,
there was a growth of only 10% in the number of companies that voluntarily adopted
HA. The results of the logistic regression point to a positive, but not significant,
relationship between NBC TG 48 and the voluntary adoption of HA. In other words,
the decrease in the complexity of the rules for the adoption of HA provided by NBC
TG 48, did not strongly motivate companies to use this special accounting
methodology and to enjoy the benefits provided by it, regardless of the economic
sector to which they belong. However, other factors pointed out in the literature, such
as size, indebtedness, exports, imports and big four, have a positive and significant
relationship with the voluntary adoption of HA. In short, the probability of voluntary
adoption of HA is greater in larger companies; more indebted; who practice export
and/or import operations; and are audited by big four. | en |
