Banca de DEFESA: Kleber Vasconcellos de Oliveira

Uma banca de DEFESA de DOUTORADO foi cadastrada pelo programa.
STUDENT : Kleber Vasconcellos de Oliveira
DATE: 12/08/2022
TIME: 14:30
LOCAL: UnB/FACE/PPGCont (online)
TITLE:

The nature of accounting goodwill: an interdisciplinary theoretical–empirical approach

KEY WORDS:

Goodwill; Agential Realism; Quantum Physics; Psychology; Entanglement Effect

PAGES: 238
BIG AREA: Ciências Sociais Aplicadas
AREA: Administração
SUBÁREA: Ciências Contábeis
SUMMARY:

This dissertation focuses on the nature of accounting goodwill. Through a tetralogy of studies, I propose an alternative approach to the nature of goodwill, which considers an ontoepistemological inseparability between goodwill (intangible capital) and a firm’s physical capital. I call this the “entanglement effect”. It takes place through the “intra-action” between intangible capital and physical capital. My proposal is derived from concepts used in quantum physics, economics and psychology. I dialogue with these fields of knowledge to propose the nature of goodwill as being a set of forces (value drivers) acting in entanglement with other assets to create value for organisations. This set of forces does not exist either physically or economically separate from physical capital. In the first study, I rely on psychology-based factors to address the issue of failures in business combinations. In addition, I provide empirical evidence that suggests that only 15% of the goodwill reported by firms represents economic substance (core goodwill). The second essay is a theorybuilding exercise in which I provide a theoretical underpinning to the nature of goodwill. I dialogue with quantum physics and economics to explain the formation of economic residuals giving rise to goodwill (badwill). I hold that such residuals are generated by each managerial decision that occurs in the company’s daily life. In particular, I explore concepts from the theory of agential realism such as entanglement, intra-action and diffraction, and interrelate them with accounting goodwill. In the third manuscript, I empirically test the entanglement effect. Using an unbalanced panel with 161,966 firm-year observations from 1980 to 2020, covering 67 countries and encompassing ten sectors of the economy, I find that the entanglement effect has a statistically significant association with firms’ value creation. As the sample in the third essay has no available data for financial institutions, I then build the fourth article by testing the entanglement effect in the banking industry. The sample comprises 28,161 bank-year observations from 2002 to 2020, covering 122 countries. I also x find that the entanglement effect has a statistically significant relationship with banks’ value creation. I conclude that the entanglement effect represents the very nature of goodwill and that it is a real force in organisations, regardless of industry.

BANKING MEMBERS:
Externa à Instituição - CARLA MANUELA TEIXEIRA DE CARVALHO - UA
Externo à Instituição - ELISEU MARTINS - USP
Interno - 2122897 - JORGE KATSUMI NIYAMA
Interno - 1999345 - JOSE ALVES DANTAS
Presidente - 1363469 - PAULO ROBERTO BARBOSA LUSTOSA