Um teste empírico sobre o preço das ações da Bovespa ao redor dos anúncios das demonstrações financeiras trimestrais

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dc.contributor.advisorNakamura, Wilson Toshiropt_BR
dc.contributor.advisor1Latteshttp://lattes.cnpq.br/1327686935533816por
dc.contributor.authorLaurindo, Peterson Nerypt_BR
dc.creator.Latteshttp://lattes.cnpq.br/0606179022701504por
dc.date.accessioned2016-03-15T19:32:58Z
dc.date.accessioned2020-05-28T18:17:43Z
dc.date.available2010-07-14pt_BR
dc.date.available2020-05-28T18:17:43Z
dc.date.issued2010-02-11pt_BR
dc.description.abstractThis research aimed to test empirically the efficiency of the Brazilian stock market represented by the São Paulo Stock Exchange portfolio - São Paulo Stock exchange in a global crisis period, performed the announcements dates of the events that are the ITR's - the quarterly financial statements of the first quarter of 2008 until as the second quarter of 2009, made by event study s methodology representing better the semi-strong efficiency, it verified if had significant alterations in the stock prices, had been measured by the AR abnormal return, caused by the event announcement, where the AR significance was measured by the sign test, and its expected return measured by the CAPM Capital Asset Pricing Model. Therefore, the empirical test lead the conclusion the announcements had caused significant alterations in the stock prices, given the CAR - accumulated average abnormal returns behavior, had reacted as the expected one, then the CAR had reacted in compliance with of the good news classifications where represented 20% of the net profits increase of the company in relation the same period of the previous year, and for the bad news 20% net profits decrease, and for the classification of no news the companies that they had had the net profits nor over and nor below of 20% deviation. Thus the CAR sign test got the statistical of -3,27, out of the critical value of 1,64 to -1,64 of the normal distribution, indicating the Brazilian stock market adjusts the stock prices around the quarterly financial statements in global period of crisis, also indicating the semi-strong form of the efficient market hypothesis.eng
dc.description.sponsorshipFundo Mackenzie de Pesquisapt_BR
dc.formatapplication/pdfpor
dc.identifier.urihttp://dspace.mackenzie.br/handle/10899/26329
dc.languageporpor
dc.publisherUniversidade Presbiteriana Mackenziepor
dc.rightsAcesso Abertopor
dc.subjectretorno anormalpor
dc.subjectdemonstrações financeiras trimestraispor
dc.subjectCAPM (Capital Asset Pricing Model)por
dc.subjectabnormal returneng
dc.subjectquarterly financial statementseng
dc.subjectCAPM (Capital Asset Pricing Model)eng
dc.subject.cnpqCNPQ::CIENCIAS SOCIAIS APLICADAS::ADMINISTRACAO::CIENCIAS CONTABEISpor
dc.thumbnail.urlhttp://tede.mackenzie.br/jspui/retrieve/3282/Peterson%20Nery%20Laurindo.pdf.jpg*
dc.titleUm teste empírico sobre o preço das ações da Bovespa ao redor dos anúncios das demonstrações financeiras trimestraispor
dc.typeDissertaçãopor
local.publisher.countryBRpor
local.publisher.departmentCiências Contábeispor
local.publisher.initialsUPMpor
local.publisher.programControladoria Empresarialpor
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