Fatores Determinantes do Nível de Divulgação de Informações sobre Combinações de Negócios com a Entrada em Vigor do Pronunciamento Técnico CPC 15

Este trabalho teve por objetivo investigar a divulgação de informações sobre operações de combinação de negócios ocorridas no Brasil em 2010, quando entrou em vigor o Pronunciamento Técnico CPC 15, e avaliar quais foram os fatores determinantes para o nível de divulgação das informações relacionadas com ele. Para avaliar o nível de divulgação, foi elaborado um índice de divulgação da combinação de negócios (INDCOMB), com base no disclosure index desenvolvido por Shalev (2009). Avaliou-se, à luz da literatura sobre divulgação e combinação de negócios, se os seguintes fatores influenciavam o nível de divulgação: o porte da empresa adquirente, o percentual reconhecido do ágio por expectativa de rentabilidade futura em relação ao valor da transação, a dispersão do capital da empresa adquirente, o porte da empresa de auditoria e a participação da adquirente em programas de American Depositary Receipts (ADRs). As variáveis de controle utilizadas foram a listagem da adquirente nos segmentos diferenciados da BM&FBOVESPA, o setor de atuação, a origem (estatal, privada de capital nacional ou privada de capital estrangeiro) e o porte relativo da empresa adquirida em relação à empresa adquirente. Foram analisadas operações de combinação de negócios realizadas em 2010, reportadas por 40 companhias abertas envolvidas em 76 operações. Conclui-se que o porte da empresa de auditoria e o porte relativo da empresa adquirida foram fatores que influenciaram o nível de divulgação de informações sobre combinação de negócios em 2010. Os demais fatores não apresentaram resultados conclusivos.This paper aimed to investigate information disclosure on business combination transactions that took place in Brazil in 2010, when the Accounting Standard CPC 15 entered into force, and evaluate which were the determining factors of the level of disclosure of information related to it. To evaluate the disclosure level, a disclosure index of business combinations (INDCOMB) was prepared, having the disclosure index developed by Shalev (2009) as a basis. We evaluated, in the light of the literature on disclosure and business combinations, whether the following factors influenced on the disclosure level: acquiring company size, recognized percentage of overprice for expected future profitability in relation to the transaction value, dispersion of capital of the acquiring company, audit firm size, and participation of the acquiring company in American Depositary Receipts (ADRs) programs. The control variables used were listing of the acquiring company in the various segments of BM&FBOVESPA, operation sector, origin (state, private company with national capital or private company with foreign capital), and relative acquired company size in relation to the acquiring company. We analyzed business combination transactions that took place in 2010, reported by 40 open capital companies involved in 76 transactions. We conclude that the audit firm size and the relative acquired company size were factors that influenced on the level of disclosure of information regarding business combinations in 2010. The other factors showed no conclusive results

The role of the grandmother : child-rearing assistance from grandmothers supporting the process of becoming a mother

Purpose: Despite the increasing nuclearization of the family in Japan, a great deal of support for child-rearing is provided by the mother’s mother and mother-in-law. Therefore, the present study analyzed the current state of support for childrearing by grandmothers in order to provide basic data for midwives to enable them to provide continuous family support from the perinatal period to child-rearing and from menopause through to old age. This study aimed to clarify the situation of mothers raising children with help from grandmothers as well as the support needs of mothers during child-rearing and those of grandmothers supporting mothers. Methods: Data were collected using semi-structured interviews conducted on 13 mothers raising children with support from a three-generation family or a grandmother living nearby and four grandmothers who were supporting mothers. Results & Discussion: Mothers raising children with support from grandmothers perceived a difference in child-rearing knowledge between themselves and the grandmothers and felt confusion and difficulty regarding coping with these differences. Mothers who were able to cope and overcame the confusion and difficulties tended to have a positive approach to child-rearing. Both mothers and grandmothers had needs regarding childrearing support. However, the resolution of differences between mother and grandmother regarding child-rearing requires the facilitation of child-rearing support by grandmothers and fulfillment of the support needs of both mothers and grandmothers. Conclusions: The present findings indicate the necessity of continuous involvement of midwives in child-rearing support for both mothers raising children and grandmothers supporting mothers