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Advisor(s)
Abstract(s)
As stock options são instrumentos representativos da opção de compra ou venda de um ativo subjacente, como ações de uma empresa a um preço estipulado durante um período pré-determinado, independentemente da sua variação de mercado. São cada vez mais instrumentos com implicação na globalização e integração dos mercados de capitais da União Europeia e a nível mundial.
Definiram-se dois grandes objetivos para esta dissertação. Por um lado, aprofundar o conhecimento sobre a harmonização e normalização contabilística no contexto do IASB e por outro, contribuir para a melhoria do conhecimento do tratamento contabilístico sobre as stock options.
Para a consecução da meta definida procedeu-se à recolha de relatórios e contas referentes aos períodos 2009 e 2010, de uma população de 51 empresas portuguesas cotadas na bolsa de valores da Euronext Lisboa. Formularam-se questões de investigação, aplicaram-se três modelos de regressão linear e definiram-se as hipóteses de investigação.
Os resultados parecem sugerir que, por um lado, o IASB alcançou, em parte, o seu objetivo de disponibilizar informação útil à tomada de decisão. Por outro lado, a IFRS 2, pelo menos indiretamente, parece disponibilizar informação relevante para a tomada de decisão dos investidores sobre os seus investimentos e a atribuição de stock options parece estar a ser considerada pelos gestores, quando está em causa a contrapartida de incentivos ao nível da sua remuneração.
The stock options are instruments representing the option to purchase or sell an underlying asset, such as a company's stock at a set price during a predetermined period, regardless of market fluctuation. They are regarded as financial instruments and have involvement in globalization and integration of capital markets of the European Union and globally. In this sense, it is clear the need for harmonization and standardization accounting of stock options, ensuring the convergence of accounting treatment and its impact on business performance. At the international level has been developed convergence, establishing accounting standards joint applicable worldwide. Noteworthy is the IASB as a reference body in the creation of IFRS and IAS. In this context, we seek to deepen knowledge on harmonization and standardization accounting and understand the impact of stock options and IFRS 2 in the financial statements of Portuguese companies listed on the Euronext stock exchange. The research reveals that IFRS 2 application is value relevant to investors. It appears that the IASB has had at least some success in achieving its objective of providing information that is relevant because it has the capacity to make a difference in investors’ decisions.
The stock options are instruments representing the option to purchase or sell an underlying asset, such as a company's stock at a set price during a predetermined period, regardless of market fluctuation. They are regarded as financial instruments and have involvement in globalization and integration of capital markets of the European Union and globally. In this sense, it is clear the need for harmonization and standardization accounting of stock options, ensuring the convergence of accounting treatment and its impact on business performance. At the international level has been developed convergence, establishing accounting standards joint applicable worldwide. Noteworthy is the IASB as a reference body in the creation of IFRS and IAS. In this context, we seek to deepen knowledge on harmonization and standardization accounting and understand the impact of stock options and IFRS 2 in the financial statements of Portuguese companies listed on the Euronext stock exchange. The research reveals that IFRS 2 application is value relevant to investors. It appears that the IASB has had at least some success in achieving its objective of providing information that is relevant because it has the capacity to make a difference in investors’ decisions.
Description
Mestrado em Contabilidade
Keywords
Stock options Harmonização contabilística Valor relevante IFRS 2 Accounting Harmonization Value Relevance