Disclosure contábil voluntário e desempenho de ações de empresas do setor de agropecuária e fertilizantes no Brasil

Abstract

The Voluntary Accounting Information disclosure can influence the result and management of enterprises with open capital. Therefore, this study aimed to Find an existing relationship between the level of voluntary disclosure and the value of companies in a group of active enterprises in the Brazilian market. The study was developed with descriptive and qualitative approach, with basis of statements published by five companies Listed in BM & FBOVESPA of the Sector of agriculture and fertilizers. Determining the level of disclosure was based on the methodology adopted by Murcia (2009) while the prices of shares were collected at the site of BM & FBOVESPA. The used analysis period was five years, including the period 2010 to 2014. Among results ascertained, it was not possible to establish direct relationship between the level of disclosure and the shares, possibly due to economic Influences in the analyzed period, However, it was confirmed relationship between the port ratio of the Companies and the level of Voluntary Accounting disclosure, As Well As identified himself that out as surveyed volunteer information, there's Largest Data Dissemination Incidence who have relations with economic and financial information, however, in general the level of volunteer disclosure may be considered very low.