INCENTIVOS CONTRATUAIS PARA A REALIZAÇÃO DE ESCOLHAS DE PRÁTICAS CONTÁBEIS: ESTUDO DE CASOS DE EMPRESAS LISTADAS NO NOVO MERCADO CONTRACTUAL INCENTIVES AND CHOICES OF ACCOUNTING PRACTICES: CASE STUDY OF PUBLIC COMPANIES LISTED IN NEW MARKET

The purpose of this paper is to analyze the types of metrics (accounting and non accounting) and their characteristics, included in bonus plan used to evaluate the performance (and calculating the value of the bonus plan) of the top management of public companies. The evidence identified in the reports of companies selected on the characteristics of managers' compensation to the conclusion that researchers should avoid using general proxies such as the existence of profit sharing (dummy) and the aggregate value of the remuneration of administrators, as variables in the specification of the incentives that managers have to effect the accounting choices. The evidence presented has a significant importance in pointing out aspects that must be taken into consideration in the construction of variables representing the bonus plan hypothesis. Another important aspect is the need for regulators, especially the Securities and Exchange Commission (CVM), companies require an adequate presentation of accounting and non accounting metrics used to calculate the bonus plan of top management of companies.