Information disclosures and the effect on the return of stocks of the largest education company listed on B3 (Brasil, Bolsa, Balcão)
The market is efficient if new relevant information causes change in stocks returns. Stocks can be affected by events and this can cause oscillations. The paper analyzes the reaction of the market to the disclosure of information about the largest education institution listed in B3. It was used the...
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Universidade Federal de Santa Catarina
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doaj-ab2a32c9b0be4421b445414a5f9425742020-11-24T21:40:42ZporUniversidade Federal de Santa CatarinaRevista Contemporânea de Contabilidade1807-18212175-80692018-12-0115369711810.5007/2175-8069.2018v15n36p9730144Information disclosures and the effect on the return of stocks of the largest education company listed on B3 (Brasil, Bolsa, Balcão)Liliane Vicentina Gomes0José Odálio dos Santos1Cristiane Lana2Maurício de Souza3Pontifícia Universidade Católica de São Paulo (PUC-SP)Pontifícia Universidade Católica de São Paulo (PUC-SP)Pontifícia Universidade Católica de São Paulo (PUC-SP)Pontifícia Universidade Católica de São Paulo (PUC-SP)The market is efficient if new relevant information causes change in stocks returns. Stocks can be affected by events and this can cause oscillations. The paper analyzes the reaction of the market to the disclosure of information about the largest education institution listed in B3. It was used the event study to confront the behavior of the return of stocks in the period from September 30, 2015 to September 30, 2017. The research starts from efficient market theory. The selected information was distributed in groups, being: A - Disclosure of quarterly results; B - Share purchase and sale transactions; C - Changes related to Student Funding. The results showed that the reaction that characterized the efficient market factor was identified in Group C, partly corroborated by the stock price behavior.https://periodicos.ufsc.br/index.php/contabilidade/article/view/55021Eficiência de MercadoEstudo de EventosInstituição de Ensino |
collection |
DOAJ |
language |
Portuguese |
format |
Article |
sources |
DOAJ |
author |
Liliane Vicentina Gomes José Odálio dos Santos Cristiane Lana Maurício de Souza |
spellingShingle |
Liliane Vicentina Gomes José Odálio dos Santos Cristiane Lana Maurício de Souza Information disclosures and the effect on the return of stocks of the largest education company listed on B3 (Brasil, Bolsa, Balcão) Revista Contemporânea de Contabilidade Eficiência de Mercado Estudo de Eventos Instituição de Ensino |
author_facet |
Liliane Vicentina Gomes José Odálio dos Santos Cristiane Lana Maurício de Souza |
author_sort |
Liliane Vicentina Gomes |
title |
Information disclosures and the effect on the return of stocks of the largest education company listed on B3 (Brasil, Bolsa, Balcão) |
title_short |
Information disclosures and the effect on the return of stocks of the largest education company listed on B3 (Brasil, Bolsa, Balcão) |
title_full |
Information disclosures and the effect on the return of stocks of the largest education company listed on B3 (Brasil, Bolsa, Balcão) |
title_fullStr |
Information disclosures and the effect on the return of stocks of the largest education company listed on B3 (Brasil, Bolsa, Balcão) |
title_full_unstemmed |
Information disclosures and the effect on the return of stocks of the largest education company listed on B3 (Brasil, Bolsa, Balcão) |
title_sort |
information disclosures and the effect on the return of stocks of the largest education company listed on b3 (brasil, bolsa, balcão) |
publisher |
Universidade Federal de Santa Catarina |
series |
Revista Contemporânea de Contabilidade |
issn |
1807-1821 2175-8069 |
publishDate |
2018-12-01 |
description |
The market is efficient if new relevant information causes change in stocks returns. Stocks can be affected by events and this can cause oscillations. The paper analyzes the reaction of the market to the disclosure of information about the largest education institution listed in B3. It was used the event study to confront the behavior of the return of stocks in the period from September 30, 2015 to September 30, 2017. The research starts from efficient market theory. The selected information was distributed in groups, being: A - Disclosure of quarterly results; B - Share purchase and sale transactions; C - Changes related to Student Funding. The results showed that the reaction that characterized the efficient market factor was identified in Group C, partly corroborated by the stock price behavior. |
topic |
Eficiência de Mercado Estudo de Eventos Instituição de Ensino |
url |
https://periodicos.ufsc.br/index.php/contabilidade/article/view/55021 |
work_keys_str_mv |
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