SECURITIZATION AS EARNINGS MANAGEMENT TOOL IN BRAZILIAN BANKS
DOI:
https://doi.org/10.11606/rco.v7i18.55610Keywords:
Securitizations. Earnings Management. SPE. Accruals. Financial InstitutionsAbstract
This study investigates the practice of earnings management in the Brazilian financial institutions through the use of securitization transactions. In line with the international literature, we find a negative relationship between securitization gains and gains before the securitization transactions of financial institutions. We also identify a negative relationship between securitization gains and the current year change of earnings before securitization. Finally, we find no evidence that the structuring of transactions with Receivables Investment Funds (“FDIC”) influence the result with the transfer.
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