O impacto da crise das lojas americanas no setor de varejo
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Tipo
TCC
Data de publicação
2023-12-05
Periódico
Citações (Scopus)
Autores
Nakamura, Caio Yukishigue
Capra, José Antônio Ferreira
Vieira, João Victor de Almeida
Cruz, Luan Fliesser
Capra, José Antônio Ferreira
Vieira, João Victor de Almeida
Cruz, Luan Fliesser
Orientador
Jucá, Michele Nascimento
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Título de Volume
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Resumo
O setor de varejo apresenta uma relevância crescente, em nível global, sobretudo com o uso intensivo de ferramentas online, durante a pandemia da Covid-19. No Brasil, as Lojas Americanas estão entre os principais players desse setor. Entretanto, ela está sendo investigada pela Comissão de Valores Mobiliários por problemas de insider trading e inconsistências contábeis em suas demonstrações financeiras. Assim sendo, o objetivo deste estudo é verificar se o anúncio dessas imprecisões nos registros contábeis das Americanas – em 11 de janeiro de 2023 - impacta negativamente o retorno das ações das companhias do setor de varejo no Brasil. Para tanto, aplica-se a metodologia de estudo de eventos numa amostra final composta por 16 companhias varejistas, cujos dados são obtidos entre 4 de janeiro e 8 de fevereiro de 2023. Como resultado, há a confirmação da hipótese principal do estudo. Ele contribui para a academia com a confirmação empírica da hipótese de eficiência do mercado e no nível semiforte de eficiência informacional. Ademais, para o setor de varejo, mercado de capitais e reguladores, esta pesquisa destaca as consequências negativas da implementação de práticas contábeis e de governança corporativa inadequadas.
The retail sector is increasingly relevant globally, especially with the intensive use of online tools during the Covid-19 pandemic. In Brazil, the Lojas Americanas is among the main players in this sector. However, it is being investigated by the Securities and Exchange Commission for insider trading issues and accounting inconsistencies in its financial statements. Therefore, the objective of this study is to verify whether the announcement of these inaccuracies in Americanas' accounting records - on January 11, 2023 - negatively impacts the stock returns of companies in the retail sector in Brazil. To this end, the event study methodology is applied to a final sample made up of 16 retail companies, whose data are obtained between January 4th and February 8th, 2023. As a result, the main hypothesis of the study is confirmed. It contributes to academia with empirical confirmation of the market efficiency hypothesis and the semi-strong level of informational efficiency. Furthermore, for the retail sector, capital markets and regulators, this research highlights the negative consequences of implementing inadequate accounting and corporate governance practices.
The retail sector is increasingly relevant globally, especially with the intensive use of online tools during the Covid-19 pandemic. In Brazil, the Lojas Americanas is among the main players in this sector. However, it is being investigated by the Securities and Exchange Commission for insider trading issues and accounting inconsistencies in its financial statements. Therefore, the objective of this study is to verify whether the announcement of these inaccuracies in Americanas' accounting records - on January 11, 2023 - negatively impacts the stock returns of companies in the retail sector in Brazil. To this end, the event study methodology is applied to a final sample made up of 16 retail companies, whose data are obtained between January 4th and February 8th, 2023. As a result, the main hypothesis of the study is confirmed. It contributes to academia with empirical confirmation of the market efficiency hypothesis and the semi-strong level of informational efficiency. Furthermore, for the retail sector, capital markets and regulators, this research highlights the negative consequences of implementing inadequate accounting and corporate governance practices.
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Palavras-chave
inconsistências contábeis , setor de varejo , lojas americanas , estudo de evento , Brasil , accounting inconsistencies , retail sector , lojas americanas , event study , Brazil