PT
O objetivo deste estudo é verificar a influência da norma "International Financial
Reporting Standards" (IFRS) para as pequenas e médias empresas (PMEs) no custo da dívida. As
PMEs representam mais de 95% das empresas no mundo. Para harmonizar a contabilidade das
PMEs foi emitido em 2009 a IFRS para PMEs. Analiso PMEs dos países Bósnia e Herzegovina
(BiH), Irlanda, Kosovo, Macedónia, Reino Unido (RU), Sérvia e Ucrânia dos períodos de 2009 a
2016.
O cálculo da taxa do custo da dívida é mesmo método do Kim, Tsui e Yi (2010) e
Karjalainen (2011). Os resultados obtidos deste estudo verificam que as normas preparadas pelo
"International Accounting Standards Board" (IASB) aumenta a qualidade do relato financeiro
(Barth, Landsman & Lang, 2008), consequentemente, a diminuição na taxa do custo da dívida
face aos períodos anteriores nas empresas da Europa que adotaram IFRS para PMEs.
Por um lado, o estudo complementa a literatura existente quanto ao efeito das normas
contabilística para o custo da dívida com amostras das PMEs da Europa. Por outro lado, o estudo
comprova a importância e demonstrar a qualidade das normas emitidas pelo IASB, dado que o
resultado do presente estudo verifica que existe uma relação positiva entre IFRS para PMEs e o
financiamento da dívida.
EN
The present study intends to investigate the influence of International Financial Reporting
Standards (IFRS) for small and medium enterprises (SMEs) on the cost of debt. SMEs represent
more than 95% of the companies in the world. In order to harmonize SME accounting, IFRS for
SMEs was issued in 2009. In this study, SMEs are analyzed in the following countries: BiH,
Ireland, Kosovo, Macedonia, the United Kingdom, Serbia and Ukraine, during the period from
2009 to 2016.
The calculation of the debt cost rate adopts the same method as the one used by Kim,
Tsui and Yi (2010) and Karjalainen (2011). The results obtained from this study show that the
standards prepared by the IASB increase the quality of financial reporting (Barth et al., 2008),
consequently the decrease in the cost of debt compared to previous periods in companies in
Europe that adopted IFRS for SMEs.
On the one hand, the study complements the existing literature on the effect of
accounting standards for the cost of debt with samples of SMEs in Europe. On the other hand,
the study demonstrates the importance and high quality of the standards issued by IASB, as the
result of the present study indicates that there is a positive relationship between IFRS for SMEs
and debt financing.
