Persistência dos lucros em clubes de futebol brasileiros
Palavras-chave:
Clubes de Futebol Brasileiros, Persistência dos Lucros, Previsibilidade dos Lucros, Qualidade das Informações ContábeisResumo
Este artigo examina a qualidade dos lucros dos clubes de futebol brasileiros, com foco na persistência dos lucros, sua relação com o tamanho do clube e a persistência dos accruals e fluxo de caixa. Com base no ranking de 2020 da Confederação Brasileira de Futebol, a amostra é composta por 23 times que divulgaram suas demonstrações financeiras de 2011 a 2021. Os resultados indicam que clubes menores apresentam maior persistência e previsibilidade dos lucros em comparação com clubes maiores. Especificamente, o componente de fluxo de caixa dos lucros demonstra maior persistência na previsão de lucros futuros do que os accruals entre os clubes menores. Além disso, os achados sugerem uma maior previsibilidade e persistência dos lucros após a implementação de regulamentações como o PROFUT, que restringe despesas e dívidas. Este estudo destaca a persistência dos lucros como um indicador crítico da qualidade dos lucros, especialmente relevante no atual cenário regulatório onde os clubes brasileiros podem optar pela incorporação sob a Lei das Sociedades Anônimas do Futebol (2021).
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