<?xml version="1.0" encoding="ISO-8859-1"?><article xmlns:mml="http://www.w3.org/1998/Math/MathML" xmlns:xlink="http://www.w3.org/1999/xlink" xmlns:xsi="http://www.w3.org/2001/XMLSchema-instance">
<front>
<journal-meta>
<journal-id>0123-1472</journal-id>
<journal-title><![CDATA[Cuadernos de Contabilidad]]></journal-title>
<abbrev-journal-title><![CDATA[Cuad. Contab.]]></abbrev-journal-title>
<issn>0123-1472</issn>
<publisher>
<publisher-name><![CDATA[Pontificia Universidad Javeriana]]></publisher-name>
</publisher>
</journal-meta>
<article-meta>
<article-id>S0123-14722017000100022</article-id>
<article-id pub-id-type="doi">10.11144/javeriana.cc18-45.pems</article-id>
<title-group>
<article-title xml:lang="es"><![CDATA[Prácticas de earning management en el sector retail de Chile. El caso La Polar]]></article-title>
<article-title xml:lang="en"><![CDATA[Earning Management Practices in the Chilean Retail Sector. The La Polar Case]]></article-title>
<article-title xml:lang="pt"><![CDATA[Práticas de earning management no setor retail do Chile. O caso La Polar]]></article-title>
</title-group>
<contrib-group>
<contrib contrib-type="author">
<name>
<surname><![CDATA[Cornejo-Saavedra]]></surname>
<given-names><![CDATA[Edinson]]></given-names>
</name>
<xref ref-type="aff" rid="Aff"/>
</contrib>
<contrib contrib-type="author">
<name>
<surname><![CDATA[Arias-Muñoz]]></surname>
<given-names><![CDATA[Paz]]></given-names>
</name>
<xref ref-type="aff" rid="Aff"/>
</contrib>
<contrib contrib-type="author">
<name>
<surname><![CDATA[Améstica-Rivas]]></surname>
<given-names><![CDATA[Luis]]></given-names>
</name>
<xref ref-type="aff" rid="Aff"/>
</contrib>
<contrib contrib-type="author">
<name>
<surname><![CDATA[Guiñez-Cabrera]]></surname>
<given-names><![CDATA[Nataly]]></given-names>
</name>
<xref ref-type="aff" rid="Aff"/>
</contrib>
</contrib-group>
<aff id="Af1">
<institution><![CDATA[,Universidad del Bío-Bío  ]]></institution>
<addr-line><![CDATA[ ]]></addr-line>
<country>Chile</country>
</aff>
<aff id="Af2">
<institution><![CDATA[,Universidad del Bío-Bío  ]]></institution>
<addr-line><![CDATA[ ]]></addr-line>
<country>Chile</country>
</aff>
<aff id="Af3">
<institution><![CDATA[,Universidad del Bío-Bío  ]]></institution>
<addr-line><![CDATA[ ]]></addr-line>
<country>Chile</country>
</aff>
<aff id="Af4">
<institution><![CDATA[,Universidad del Bío-Bío  ]]></institution>
<addr-line><![CDATA[ ]]></addr-line>
<country>Chile</country>
</aff>
<pub-date pub-type="pub">
<day>00</day>
<month>06</month>
<year>2017</year>
</pub-date>
<pub-date pub-type="epub">
<day>00</day>
<month>06</month>
<year>2017</year>
</pub-date>
<volume>18</volume>
<numero>45</numero>
<fpage>22</fpage>
<lpage>39</lpage>
<copyright-statement/>
<copyright-year/>
<self-uri xlink:href="http://www.scielo.org.co/scielo.php?script=sci_arttext&amp;pid=S0123-14722017000100022&amp;lng=en&amp;nrm=iso"></self-uri><self-uri xlink:href="http://www.scielo.org.co/scielo.php?script=sci_abstract&amp;pid=S0123-14722017000100022&amp;lng=en&amp;nrm=iso"></self-uri><self-uri xlink:href="http://www.scielo.org.co/scielo.php?script=sci_pdf&amp;pid=S0123-14722017000100022&amp;lng=en&amp;nrm=iso"></self-uri><abstract abstract-type="short" xml:lang="es"><p><![CDATA[Resumen  Las prácticas de earnings management ocurren cuando una firma usa la discrecionalidad en la elaboración de sus estados financieros y en la estructuración de sus transacciones, para alterar los beneficios reportados e inducir a error a los agentes interesados en el desempeño de la compañía; el fraude contable es la forma extrema de este tipo de prácticas. Este estudio analizó los efectos de una práctica extrema de earnings management &#8212;la repactación unilateral de créditos morosos&#8212; en los estados financieros e indicadores de desempeño de La Polar; y evaluó el efecto de la revelación de tales prácticas en los retornos accionarios de la firma y del sector retail de Chile. Se concluyó que la contabilidad de repactaciones mejoró la apariencia de los estados financieros y los indicadores de la firma; y que, una vez revelada esta situación, el mercado castigó el precio de las acciones de La Polar y también de las otras compañías de retail, ante las sospechas de que estas también realizaran repactaciones no reveladas en sus estados financieros. Códigos JEL: M41, G14, G39]]></p></abstract>
<abstract abstract-type="short" xml:lang="en"><p><![CDATA[Abstract  Earnings management practices occur when a firm uses discretion in the preparation of its financial statements and in the structuring of its transactions as to alter the reported benefits and mislead the stakeholders interested in the performance of the company. Accounting fraud is the extreme form of this type of practice. This study analyzed the effects of an extreme practice of earnings management -the unilateral renegotiation of non-performing loans- in the financial statements and performance indicators of La Polar; and evaluated the effect of the disclosure of such practices on the stock returns of the firm and the Chilean retail sector. It was concluded that renegotiation accounting improved the appearance of the financial statements and indicators of the firm and that, once this situation was revealed, the market punished the price of the shares of La Polar and also of the other retail companies, given the suspicion that these also carried out unrevealed renegotiations in their financial statements.]]></p></abstract>
<abstract abstract-type="short" xml:lang="pt"><p><![CDATA[Resumo  As práticas de earnings management sucedem quando uma firma usa a discrição na preparação das suas demonstrações financeiras e na estruturação das transações, para alterar os benefícios relatados e induzir a erro os agentes interessados no desempenho da companhia; a fraude contábil é a forma extrema desse tipo de práticas. Este estudo analisou os efeitos de uma prática extrema de earnings management &#8212;a repactuação unilateral de créditos inadimplentes&#8212; nas demonstrações financeiras e indicadores de desempenho de La Polar e avaliou o efeito da divulgação de tais práticas nos retornos acionários da firma e do setor retail no Chile. Concluiu-se que a contabilidade de repactuações melhorou a aparência das demonstrações financeiras e os indicadores da firma; e que, uma vez revelada esta situação, o mercado puniu o preço das ações de La Polar e também das outras companhias de retail, ante a suspeita de elas também realizarem repactuações não reveladas nas suas demonstrações financeiras.]]></p></abstract>
<kwd-group>
<kwd lng="es"><![CDATA[Earnings management]]></kwd>
<kwd lng="es"><![CDATA[provisiones por incobrables]]></kwd>
<kwd lng="es"><![CDATA[repactaciones unilaterales]]></kwd>
<kwd lng="es"><![CDATA[fraude]]></kwd>
<kwd lng="es"><![CDATA[retail]]></kwd>
<kwd lng="en"><![CDATA[Earnings management]]></kwd>
<kwd lng="en"><![CDATA[provisions for uncollectible debts]]></kwd>
<kwd lng="en"><![CDATA[unilateral renegotiations]]></kwd>
<kwd lng="en"><![CDATA[fraud]]></kwd>
<kwd lng="en"><![CDATA[retail]]></kwd>
<kwd lng="pt"><![CDATA[Earnings management]]></kwd>
<kwd lng="pt"><![CDATA[provisões por incobráveis]]></kwd>
<kwd lng="pt"><![CDATA[repactuações unilaterais]]></kwd>
<kwd lng="pt"><![CDATA[fraude]]></kwd>
<kwd lng="pt"><![CDATA[retail]]></kwd>
</kwd-group>
</article-meta>
</front><back>
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