Value relevance da contabilidade e das previsões dos analistas: o ambiente de informação do país emergente é importante?

Autores

DOI:

https://doi.org/10.5007/2175-8069.2021.e79630

Resumo

Este estudo analisa o value relevance das informações contábeis e da qualidade das previsões dos analistas em diferentes ambientes de informação dos países emergentes. Analisamos 7.024 empresas não financeiras em 21 países no período de 2000 a 2016. As qualidades das previsões dos analistas (AFQ) e do ambiente de informação dos países (CIEI) são capturadas por meio de índices construídos por Análise de Componentes Principais. A value relevance da AFQ é analisada usando o modelo proposto por Collins, Maydew e Weiss (1997). Nossos resultados sugerem que a AFQ é value relevant em mercados emergentes, ajudando a explicar o preço das ações das empresas. Ainda, as evidências apontam que a AFQ agrega relevância às informações contábeis, com destaque para as informações sobre o patrimônio líquido. Descobrimos que as informações contábeis e a AFQ são value relevant independentemente de o CIEI ser alto ou baixo. Mais do que isso, nos diferenciamos de estudos anteriores por agrupar de forma original alguns indicadores de qualidade das previsões dos analistas e do ambiente de informação, constatando que tanto a informação contábil quanto a AFQ se tornam mais relevantes quando o ambiente de informação do país é melhor.

Biografia do Autor

Emanuelle Priscila de Almeida Peixoto, Universidade Federal da Paraíba (UFPB)

Mestre em Contabilidade (UFPB)

Orleans Silva Martins, Universidade Federal da Paraíba (UFPB)

Doutor em Contabilidade pelo Programa Multiinstitucional (UnB/UFPB/UFRN)

Professor Adjunto do Departamento de Finanças e Contabilidade (UFPB)

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Publicado

2021-12-15

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Peixoto, E. P. de A., & Martins, O. S. (2021). Value relevance da contabilidade e das previsões dos analistas: o ambiente de informação do país emergente é importante?. Revista Contemporânea De Contabilidade, 18(49), 162–177. https://doi.org/10.5007/2175-8069.2021.e79630

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