PRESENT STAGE OF DISCLOSURE AND FACTORS THAT INFLUENCES THE SEGMENT REPORT DISCLOSURE BY BRAZILIAN COMPANIES

The present paper aims to verify the actual stage of operating segments disclosure by Brazilian companies listed in BM&FBovespa, considering the requirements of Pronouncement CPC 22, and also to verify which factors have influence in the information disclosure. It's considered that this disclosure allow investors to make decision with more detailed information about how the business are managed, since CPC 22 adopt the management approach. The sample is formed by companies that compound Ibovespa Index. There was analyzed the explanatory notes of 47 enterprises presented in 2011's financial statements. The data was analyzed by descriptive statistics. The average of disclosure is of 63% (considering the 16 disclosure items). Any company has disclosure all the items, but two of them have disclosed 14 items. The results show a great difference the level of disclosure between the activity sectors: cyclic and non cyclic consumption sectors and construction and transport had the lowest punctuation; the two financial sector's companies had the greatest punctuation. It was also proposed a multiple regression model for testing which explanatory variables could impact in the level of disclosure. The unique statistically significant variable was the Total Asset, concluding that the size influence a major comprehensiveness disclosure. The other variables (profitable position and sector) were not statistically significant.