O IMPACTO DO RECONHECIMENTO DO CUSTO ATRIBUÍDO E DA DIVULGAÇÃO DE IMPAIRMENT DE ATIVOS TANGÍVEIS E INTANGÍVEIS (IFRS) SOBRE OS PREÇOS E OS RETORNOS DAS AÇÕES DAS COMPANHIAS BRASILEIRAS
Resumo
Palavras-chave: IFRS,Custo atribuído; impairment; intangível; preço da ação; retorno anormal.
Abstract
The aim of this study was to analyze the relationship between price and return the shares of Brazilian companies after the adoption of international accounting standards. It was observed that the initial adoption of deemed cost and disclosure of impairment of tangible and / or intangible, provided by IFRS, impact on shareholder expectations. The notes of 182 companies listed on some level corporate governance BOVESPA during the last quarter of 2010 and two in 2011 were collected and analyzed for relevant information. The results denote that the initial adoption of deemed cost and impairment impact the stock price, but no significant results were found relating the disclosures after the change in price. As for the impact on stock returns results not demonstrated conclusive, both the initial disclosure as to the later. The results point to the lack of perception on the part of Brazilian investors, about the new accounting methodologies mentioned (deemed cost and impairment). This fact demonstrates that despite the effort made towards internationalization of accounting standards by the Brazilian standard-setters, investors have not attempt to the new metrics of valuation of assets.
Keywords: IFR; Deemed Cost; impairment; intangible; stock price; abnormal returns.
Texto Completo: PDF
ISSN da versão on-line (atual): 1984-3291
Periodicidade: Quadrimestral
Classificação CAPES: A3