Abstract
ABSTRACT This paper deals with Brazilian empirical research published in journals between 2000 and mid-2015 that used, as a source of data, the Management Reports (MRs) released by publicly-traded companies together with their financial statements. MRs differ from each other, both in form as well as in substance, and due to this as well as to their other characteristics, they prove attractive for academic studies interested in official company discourse, more so because they involve documents that are public and retrievable over time, covering a substantial range of typically larger companies from different economic sectors. Driven by these characteristics, the goal of this study was to understand the way the academic world understands and uses the MR. The paper favored an interpretivist viewpoint, but used the triangulation allowed by the use of qualitative (content analysis) and quantitative (statistical, sociometric, and bibliometric analyses) methods. It was concluded that, for the core group of experts who dealt with the document, the MR is biased, incomplete, questionable, unclear, laborious, uncertain, but also useful - in the absence of another -, comprehensive, available, and retrievable over time. And it lends itself to the interest of company directors by increasing their value and at the same time legitimizing their companies, incorporating into discourse the use of contemporary management practices, consistent with the expectations of stakeholders. Finally, it suggests the possibility, unexplored in the articles analyzed, of employing the MR to study the dynamics of the institutionalization of administrative practices among companies in the country.
Highlights
The Management Report (MR) is an obligatory document for publicly-traded companies, which must be released at the close of the financial year together with Standardized Financial Statements (SFS) and Explanatory Notes (EN)
If the concept is accepted of institution being that more or less stable element of social life that affects the behavior and beliefs of individuals and collective actors, providing them with templates for action, cognition and emotion which, when implemented, reduce the risks associated with some type of cost (Lawrence, Suddabu, & Leca, 2011), it would be reasonable to accept the Synthetic and Generalist Description (SGD) referred to in section 4.1 as an institutional display; follow the model, consolidated at least fifteen years ago, and there will be less chance of having your paper, the fruit of hours of work, being rejected by the scientific field – ignore it and you will suffer from sanctions
This standard did not arise decontextualized in time and space; there is little risk in affirming that it arises from a diligent, deliberate effort or is the fruit of more fortuitous reproduction of accounting professors associated with FURB at the time of production
Summary
The Management Report (MR) is an obligatory document for publicly-traded companies, which must be released at the close of the financial year together with Standardized Financial Statements (SFS) and Explanatory Notes (EN). It complements these and contemplates the main administrative facts, including, optionally and among other things, a description of the businesses and products, an analysis of relevant exogenous factors regarding company performance, the state of research and development projects, questions relating to protecting the environment, and the application of administrative streamlining programs (Brasil, 1976; Brazilian Securities and Exchange Commission [Comissão de Valores Mobiliários - CVM], 1987). In theory, the papers may opt to discuss the relative efficiency of the MR compared with alternative means and channels of communication (Social Report, Environmental Report, company websites)
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