Disclosure of intangible assets: a study of the brazilian soccer clubs

Abstract

The federative rights of the athletes are classified as intangible assets and represent the main asset of soccer clubs, so it is necessary a clear disclosure of such asset in the financial statements of these clubs. In this context, the objective of this paper was to verify which variables influence the level of disclosure of intangible assets in the financial statements of the Brazilian soccer clubs after the CPC-04 (Intangible Assets) entered into force. The study population was composed by the 20 biggest clubs of Brazil based on total revenues of 2011. The variables were analyzed using a multiple linear regression model with pooled data using the estimators of ordinary least squares. Data were obtained from the financial statements of 2010 and 2011 of these clubs. The results showed that the variables “performance in the Brazilian championship” and “total revenues” positively influence the level of disclosure of intangible assets in the financial statements of the clubs analyzed, so, the better the performance in the Brazilian championship and the better the total revenues earned by soccer clubs, the greater is the level of disclosure of intangible assets in the financial statements. On the other hand, the variable “representativeness of the intangible” is not statistically significant, so it was not possible to make any inference about the relationship between this variable and the level of disclosure of intangible assets in the financial statements of the clubs analyzed.