O efeito do relato integrado no fluxo de caixa futuro de empresas listadas na B3

Abstract

Around the world, companies have shown increasing interest in disclosing non- financial reports in association with financial reports, to increase the quality of information. Therefore, in order to voluntarily disclose information that fully demonstrates the organization, companies have adopted Integrated Reporting (IR). The literature points out that IR brings a more quality approach to corporate reports, comprising information (financial, managerial and sustainability) associated with economic benefits with increased operational cash flow. On the other hand, there is the Cash Flow (CF), a mandatory financial report, which helps the manager to understand the changes in the cash accounts and cash equivalents of an entity, in each period, classifying such cash flows into operational (FCO), investment (FCI) and financing (FCF) activities. In this context, this work aimed to investigate whether there is any relationship between companies' operating cash flow and integrated reporting. As a methodological procedure, regression models were used for panel data, with a temporal range varying between the years 2014 and 2022. The main results indicated that the effects of Integrated Reporting on the companies' Future Operating Cash Flow are negative. This can be attributed to the lack of mandatory and auditing of data published in IR in Brazil, which reduces the reliability of the information and affects the perception and appreciation of IR by investors.