MANAGERS PROFILE DIVERSITY AS A STRATEGIC LEVER FOR VALUE CREATION: A FOCUS ON ACCOUNTING CONSERVATISM IN BRAZILIAN AND FRENCH COMPANIES

Degenhart, Larissa; Barbosa, Edmery Tavares; Silva, Marcia Zanievicz da

doi:10.5902/1983465934050

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Articles • Rev. Adm. UFSM 14 (3) • Jul-Sep 2021 • https://doi.org/10.5902/1983465934050 linkcopy

MANAGERS PROFILE DIVERSITY AS A STRATEGIC LEVER FOR VALUE CREATION: A FOCUS ON ACCOUNTING CONSERVATISM IN BRAZILIAN AND FRENCH COMPANIES

DIVERSIDADE DO PERFIL DOS GESTORES COMO UMA ALAVANCA ESTRATÉGICA PARA CRIAÇÃO DE VALOR: UM ENFOQUE NO CONSERVADORISMO CONTÁBIL DE EMPRESAS BRASILEIRAS E FRANCESAS

Authorship SCIMAGO INSTITUTIONS RANKINGS

Purpose The research aimed to analyze the relationship between the diversity of the managers’ profile as a lever for value creation and the accounting conservatism of Brazilian and French companies.

Design/methodology/approach The sample consisted of 71 Brazilian companies and 67 French companies, listed in the B3 Index IBrX-100 and the SBF 120 Index of Euronext Paris, respectively. Multiple Regression was used to analyze the data (2011 to 2015).

Findings The results revealed that the characteristics of the diversity of the profile of Brazilian managers that are related to accounting conservatism are: age, place of formation and position occupied in the directive body. In France, the characteristics are: degree of schooling, link with the company and function performed.

Research limitations/implications The limitation of the impossibility of generalizing the results is highlighted. As theoretical contributions, this research analyzes an element that can be considered for analysis in the face of accounting conservatism: the profile of managers.

Practical implications The diversity of the managers’ profile should be considered in companies, since it has repercussions on accounting conservatism, that is, on how managers conduct accounting to maximize company value.

Social implications The findings have social implications for professionals who aim to enter the Brazilian and French labor market.

Originality/value The study advances in the accounting area, as it analyzes the governing body of organizations, an important differential in the analysis of the demographic, professional and performance characteristics of managers and their relationship with accounting conservatism.

Keywords:
Manager Profile Diversity; Strategic Levers; Accounting Conservatism; Brazil; France

Charac.	Variables	Measurement	Author (year)
Demographic	Age	Under 50, 0 was assigned.	Bamber et al. (2010); Shen et al. (2010); Hafsi and Turgut (2013).
	Age	Above 51 years old, 1 was assigned.
	Genre	Female, 0 was assigned.	Hafsi and Turgut (2013); Francis et al. (2014); Ho et al. (2015); Haynes (2016).
	Genre	Male, 1 was assigned.
	Nationality	Native, 0 was assigned, otherwise 1.	Frijns et al. (2016).
Professional Profile	Formation	Business area was assigned 0.	Benschop and Meihuizen (2002); Shen et al. (2010); Bamber et al. (2010); Haynes (2016); Frijns et al. (2016).
		Engineering has been assigned 1.
		Legal, 2 were assigned.
		Technology, it was assigned 3.
		Health was assigned 4.
		Other areas were assigned 5.
	Place of Formation	Within the country, 0 was assigned.	Jackson et al. (1995).
		Outside the country, 1.
		Mixed, 2 are assigned.
	Education level	Graduation, 0 was assigned.	Bertrand and Schoar (2002); Smith et al. (2005); Shen et al. (2010);
		Specialization, 1 was assigned.
		Master, 2.
		Doctorate, 3.
	Professional experience in the market	Under 30, 0 was assigned.	Bamber et al. (2010); Hafsi and Turgut (2013); Yunos et al. (2014); Perryman et al. (2016).
	Professional experience in the market	Above 31 years old, 1 was assigned.
Office	Link with the company (time)	Up to 30 years, 0 was assigned.	Shen et al. (2010); Hafsi and Turgut (2013).
	Link with the company (time)	Above 30, 1 was assigned.	Shen et al. (2010); Hafsi and Turgut (2013).
	Position (Governing Body)	CEO, assigned 0	Gallego-Álvarez et al. (2010); Ho et al. (2015).
		President, 1 was assigned.
		Vice-president assigned 2.
		Director, it was assigned 3.
		Independent member, 4 were assigned.
		Other positions were assigned 5.
	Function (Area)	Controllership, 0 was assigned.	Ho et al. (2015).
		Administrative, 1
		Financial, 2 was assigned.
		Legal, 3 were assigned.
		Marketing, it was attributed 4.
		Information Technology, 5.
		Other areas were assigned 6.

Variables	Cons.	Age	Genre	Nacio.	Form.	PF	EL	PE	LC	Position	Function
Conservatism	1	-0.14*	-0.11	-0.11	0.06	0.07	0.00	-0.12	-0.10	-0.21	0.15
Age		1	0.20	0.04	0.05	-0.06	0.00	0.64**	0.21	0.13	-0.22
Genre			1	-0.11	0.05	0.22	0.17	-0.06	-0.08	-0.28*	-0.16
Nationality				1	0.03	0.27*	-0.06	-0.00	-0.28*	0.07	-0.04
Formation					1	-0.06	0.29*	0.10	-0.18	0.01	0.05
Place of formation						1	0.46	-0.10	-0.14	-0.11	-0.07
Education level							1	-0.02	-0.14	-0.09	-0.16
Prof. experience								1	0.17	0.06	-0.24*
Link company									1	0.07	-0.11
Position										1	-0.03
Function											1

Variables	Cons.	Age	Genre	Natio.	Form.	PF	EL	PE	LC	Position	Function
Conservatism	1	-0.04	0.15	-0.13	0.04	-0.08	0.08*	-0.09	0.00	-0.00	0.03
Age		1	0.14	0.10	0.06	0.16	0.17	0.39**	-0.06	0.07	0.18
Genre			1	-0.34**	0.09	0.05	0.05	-0.15	0.08	-0.28*	0.08
Nationality				1	0.03	0.49**	0.29*	0.16	-0.14	0.05	-0.07
Formation					1	0.32**	0.34**	-0.22	0.08	0.08	0.18
Place of formation						1	0.63**	-0.15	-0.09	-0.09	0.02
Education level							1	-0.08	-0.16	-0.08	0.21
Prof. experience								1	-0.12	0.26*	0.01
Link company									1	-0.00	0.21
Position										1	0.08
Function											1

Characteristics	Variables	Brazil		France
		Accounting Conservatism		Accounting Conservatism
		Coefficient	Significance	Coefficient	Significance
Demographic	Age	28.474	0.057*	-1.741	0.715
	Genre	-28.019	0.366	3.098	0.505
	Nationality	9.242	0.610	1.199	0.766
Professional Profile	Formation	-11.441	0.346	-1.020	0.496
	Place of formation	27.980	0.074*	0.483	0.899
	Education level	-0.542	0.982	6.592	0.003*
	Professional experience	5.602	0.624	2.292	0.515
Office	Link with the company	13.520	0.393	-14.868	0.041*
	Position	87.338	0.043**	0.983	0.448
	Function	40.130	0.334	3.038	0.099**
R ² square		0.170		0.321
R ² square adjusted		0.032		0.200
*Durbin-Watson*		1.797		2.019
ANOVA		0.029		0.010

Hypotheses	Results
Hypotheses	Brazil	France
H₁: There is a causal relationship between the demographic characteristics of managers (age, gender and nationality) and the accounting conservatism of Brazilian and French companies.	Confirmed	Rejected
H₂: There is a causal relationship between the characteristics of the professional profile of managers (formation, place of formation, level of education and professional experience in the market) and the accounting conservatism of Brazilian and French companies.	Confirmed	Confirmed
H₃: There is a causal relationship between the characteristics consistent with the position of managers (link to the company, the position held and function/area of activity) and the accounting conservatism of Brazilian and French companies.	Confirmed	Confirmed

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[TFN1] Charac: Characteristics.

[TFN2] Source: Prepared by the authors.