Book-tax differences anormal e a não conformidade na divulgação do EBITDA

Abstract

This study aims to investigate the association between abnormal book-tax differences (ABTDs) and non-compliance in disclosing EBITDA figures. It employs a multilevel logistic model to examine data for this indicator from 340 openly traded non-financial Brazilian firms for the period from 2012 to 2021. The results indicate that ABTDs increase the probability of non-compliance in EBITDA disclosure, with variations in behavior among companies in distinct subsectors, suggesting its relevance in evaluating non-compliance with CVM Instruction 527/2012 (CVM is the Brazilian equivalent of the Securities and Exchange Commission). These findings contribute to the accounting literature, highlighting that asymmetry of information, conflicts of interest, the pursuit of various rewards, and assumptions related to ABTDs may result in informational biases. This is reflected in managed figures used in the EBITDA calculation and lower-quality information than what is required by the CVM norm for this indicator.