摘要：There was an increase in the number of Brazilian companies, in the period 1998-2007, that have issued securities in other markets, especially in the USA. Because of that, this study aimed to examine that the option of Brazilian companies listed on the BM&FBOVESPA by dual listing in the US market has created incentives to increase the degree of conservatism of these companies. To accomplish this, three hypotheses were tested in the type of list: 1 - Adhere the dual listing encourages conservatism enterprises; 2 - Adhere the levels II and III encourages conservatism of the companies. 3 - Adhere the listing levels III and 144A encourages the degree of conservatism of the companies. To measure the degree of conservatism the models were used Basu (1997) and Ball and Shivakumar (2005), estimated at panel for the period 1998 to 2007. The results of the tests showed no change in the level of conservatism none of the types of dual listing of companies in the North American market. This allows us to infer that the dual listing has not encouraged a more conservative behavior on the part of those companies. Regarding the sample of all companies, only the model of Ball and Shivakumar (2005) indicated the presence of conservatism.
关键词：Conservadorismo;Dupla Listagem;ADR (Recibo Americano de Depósito).
