Sanções do PCAOB sobre as firmas de auditoria brasileiras e reação do mercado financeiro brasileiro : um estudo de evento

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Imagem de Miniatura
Tipo
Dissertação
Data de publicação
2018-08-08
Periódico
Citações (Scopus)
Autores
Vasconcelos, Camila de Souza
Orientador
Geron, Cecilia Moraes Santostaso
Título da Revista
ISSN da Revista
Título de Volume
Membros da banca
Segura, Liliane Cristina
Murcia, Fernando Dal-Ri
Programa
Controladoria e Finanças Empresariais
Resumo
The objective of this work is to measure the financial effect reflected in the behavior of certain companies’ shares listed in the Brazilian capital market and audited by Big Four audit firms after public sanctions issued by PCAOB in the period from 2002 to 2017. To achieve this goal, the research methodology applied was the event study, with a quantitative approach, based on historical closing prices of shares extracted by the Economática software. The practical implications of this study are related to the evidence provided of how the Brazilian capital market performs the reading of facts that involve the integrity and reputation of an independent audit firm. This research differs from the others already published within the scope of the PCAOB, since it relates the reaction of the Brazilian financial market in the pricing of shares after events that put in doubt the quality of the independent service carried out by a Big Four audit firm. The results presented by this study corroborate the semi-efficient hypothesis of the Brazilian market, since it was possible to observe that the company mentioned in the sanction issued by PCAOB and the companies listed in the IBOVESPA index and that are audited by BigFour audit firms, suffered abnormal returns following the publication of PCAOB censures in at least one of the periods analyzed for the events under study.
Descrição
Palavras-chave
auditoria independente , estudo de evento , mercado de capitais , PCAOB
Assuntos Scopus
Citação
VASCONCELOS, Camila de Souza. Sanções do PCAOB sobre as firmas de auditoria brasileiras e reação do mercado financeiro brasileiro : um estudo de evento. 2018. 84 f. Dissertação (Mestrado Profissional em Controladoria e Finanças Empresariais) - Universidade Presbiteriana Mackenzie, São Paulo.