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    <link>https://hdl.handle.net/10419/310449</link>
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    <pubDate>Sat, 09 May 2026 18:49:47 GMT</pubDate>
    <dc:date>2026-05-09T18:49:47Z</dc:date>
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      <title>Do State-Controlled Banks Pay More or Less Taxes? Evidence For Brazil</title>
      <link>https://hdl.handle.net/10419/334382</link>
      <description>Title: Do State-Controlled Banks Pay More or Less Taxes? Evidence For Brazil
Authors: de Carvalho Mauro, Luiz Claudio; Machado, Sergio Jurandyr; Tessmann, Mathias Schneid; Magalhaes, Luiz Augusto Ferreira
Abstract: Research Question- Do Brazilian publicly-controlled banks pay less taxes than privately-controlled banks? Motivation- Common sense in society might assume that there is a principal-agent conflict whereby publicly-controlled banks would pay less taxes than privately-controlled banks. At the same time, some of the people who work in these public banks might assume that there are more aggressive tax strategies being used by private banks that are not used by public banks. Idea- To assess whether Brazilian state-owned banks are less likely to engage in aggressive tax planning compared to their privately-controlled peers. Data- Observations were extracted from the financial statements of banks listed on the Brazilian stock exchange for the period 2012 to 2021 (balanced panel data). Tools- We performed multivariate regressions to identify whether the presence of state control explains the variation in effective tax rates. Three different effective tax rate formulas were used as proxies for tax aggressiveness, two of them based on revenue, the first consisting only of current income taxes and the second consisting of current and deferred income taxes, and a third proxy analyzing taxation on gross revenue. The estimations also included several control variables related to the banking sector.</description>
      <pubDate>Wed, 01 Jan 2025 00:00:00 GMT</pubDate>
      <guid isPermaLink="false">https://hdl.handle.net/10419/334382</guid>
      <dc:date>2025-01-01T00:00:00Z</dc:date>
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    <item>
      <title>Applying Forecasting Methods to Accrual-Based and Cash-Based Ratio Analysis</title>
      <link>https://hdl.handle.net/10419/334386</link>
      <description>Title: Applying Forecasting Methods to Accrual-Based and Cash-Based Ratio Analysis
Authors: Litvinenko, Alexey; Litvinenko, Anna; Saarinen, Samuli
Abstract: Research Questions- Which of the forecasting methods (SMA, ARIMA, ES) is the most informative? Can forecasting methods be used to verify each other's results? How do the manipulations in historical data affect the forecasting of accrual and cash ratios? Motivation- addressing the challenge of analytical precision in financial forecasting, the research proposes and empirically investigates the financial forecasting approach based on integrated cash-based and accrual-based ratio analysis in the dimensions of solvency, liquidity, efficiency and profitability. Idea- The effectiveness of the forecasting methods based on ratio analysis is evaluated by determining the most informative approach while examining how data manipulations influence forecasting outcomes. Data- Historical panel data for seven years (2015-2022) from financial statements of two production companies listed on the Baltic Stock Exchange was taken as a base for equally-weighted ratio calculations: solvency, liquidity, efficiency and profitability. Based on the ratio results, the forecasting for three years was done. Tools- Quantitative forecasting methods included Simple Moving Average method implemented in Excel, and ARIMA and Exponential Smoothing done via R-Script. Findings- Exponential Smoothing is the most informative method of forecasting for three years due to its sensitivity to data fluctuations, particularly in cash-based ratios. The forecasts based on accrual data show smoother trends when a company manipulates its data in accrual-based financial statements but does not manipulate the historical cash data. Volatility or conflicting results within the accrual-based and cash-based ratio pairs reveal the actual situation. Contribution- The research contributes to knowledge and empirical research on financial forecasting by integrating accrual and cash-based ratios for enhanced precision and demonstrating superior capabilities of Exponential Smoothing for detecting anomalies and improving credit risk analysis frameworks.</description>
      <pubDate>Wed, 01 Jan 2025 00:00:00 GMT</pubDate>
      <guid isPermaLink="false">https://hdl.handle.net/10419/334386</guid>
      <dc:date>2025-01-01T00:00:00Z</dc:date>
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    <item>
      <title>Adoption Of Robotic Process Automation in The Accounting Area by A Cooperative Credit System: Metrics and Motivators</title>
      <link>https://hdl.handle.net/10419/334391</link>
      <description>Title: Adoption Of Robotic Process Automation in The Accounting Area by A Cooperative Credit System: Metrics and Motivators
Authors: Rovaris, Tailane Dias; da Silva Momo, Fernanda; Schiavi, Giovana Sordi; Bratkowski, Laura
Abstract: Research Question- What metrics guide the decision to adopt Robotic Process Automation in the accounting area of a Cooperative Credit System from the viewpoint of TOE framework? Motivation- The research seeks to fill the gaps in the literature regarding the criteria and challenges involved in RPA implementation within accounting contexts, particularly in credit cooperatives. Idea- This study aims to develop a framework of metrics and motivators for the adoption of Robotic Process Automation (RPA) in the accounting area of a Credit Cooperative System, based on the Technology-Organization-Environment (TOE) framework. Data- This qualitative and descriptive research was conducted in two stages: (1) a systematic literature review to identify RPA adoption motivators within the TOE context, and (2) a single case study involving 17 cooperatives integrated into a Brazilian Credit Cooperative System. Tools- Data collection included semi-structured interviews, to map practical metrics and motivators, observations, and documentary analysis. The data underwent content analysis using categorization based on the three pillars of the TOE model. Findings- The study identified 61 metrics and motivators for RPA adoption, distributed across technological (24), organizational (20), and environmental (13) contexts. The primary motivators include increased operational efficiency, cost reduction, risk mitigation, ease of technology use (low-code), and external competitive pressure. Additionally, initial employee resistance and the absence of clear guidelines were highlighted as implementation challenges. Contribution- As a theoretical contribution, the study details the motivators and metrics for RPA adoption, enriching the TOE framework. In practical terms, the developed framework serves as a guide for other institutions in decision-making regarding RPA implementation, highlighting critical points such as training, security controls, and internal communication.</description>
      <pubDate>Wed, 01 Jan 2025 00:00:00 GMT</pubDate>
      <guid isPermaLink="false">https://hdl.handle.net/10419/334391</guid>
      <dc:date>2025-01-01T00:00:00Z</dc:date>
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      <title>The Influence of Corporate Governance Mechanisms on Financial Performance. Is Gender Diversity a Relevant Board Characteristic?</title>
      <link>https://hdl.handle.net/10419/334379</link>
      <description>Title: The Influence of Corporate Governance Mechanisms on Financial Performance. Is Gender Diversity a Relevant Board Characteristic?
Authors: Achima, Raluca Andreea; Lungu, Camelia Iuliana
Abstract: Research Questions- To what extent is the financial performance of Romanian listed companies influenced by corporate governance mechanisms? Does a higher proportion of women on boards of directors lead to better financial performance in listed companies? Motivation- As a consequence of the corporate scandals occurred on a global scale, numerous developed countries have implemented initiatives to improve governance mechanisms towards maintaining financial stability. For emerging countries, the companies are still struggling to identify and address management shortcomings in ensuring financial performance. In the light of these developments, research on the impact of board characteristics on financial performance in case of emerging countries are still generating interesting results. Idea- The purpose of this study is to present empirical evidence of the relationship between board characteristics and financial performance for companies listed on an emerging stock exchange. In addition, it discusses whether gender diversity is a relevant corporate governance mechanism that may influence the financial performance. Data- The data were collected from the annual reports of companies listed on the Bucharest Stock Exchange for the period 2020-2023. Tools- Regression analysis was applied to examine four research hypotheses addressing the impact of various board characteristics on corporate financial performance. Robustness tests were applied to validate the results. Findings- The results reveal that CEO duality and board size positively influence both ROA and ROE, while board independence exerts a negative but not significant influence on both performance indicators. Contrary to results of studies conducted on developed countries, this research indicates that the proportion of women on the board of directors has a statistically significant negative impact on the financial performance of Romanian listed companies. Contribution- This paper provides up-to-date evidence for the Romanian companies, on the influence of corporate governance mechanisms on financial performance and the relevance of board gender diversity. It offers researchers, regulators, and investors, valuable insights, that may be used to enhance financial performance and mitigate corporate failures, for an emerging country.</description>
      <pubDate>Wed, 01 Jan 2025 00:00:00 GMT</pubDate>
      <guid isPermaLink="false">https://hdl.handle.net/10419/334379</guid>
      <dc:date>2025-01-01T00:00:00Z</dc:date>
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