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Divulgações de informações e o efeito no retorno de ações da maior empresa de educação listada na B3 (Brasil, Bolsa, Balcão)
[Information disclosures and the effect on the return of stocks of the largest education company listed on B3 (Brasil, Bolsa, Balcão)]

Author

Listed:
  • Vicentina Gomes, Liliane
  • Odálio dos Santos, José
  • Lana Silva, Cristiane
  • Ferreira de Souza, Maurício

Abstract

O mercado é eficiente se novas informações relevantes causarem variação no retorno das ações. As ações podem ser afetadas por eventos e isso pode causar oscilações. A pesquisa analisa a reação do mercado à divulgação de informações sobre a maior instituição de educação listada na B3. Foi utilizado o estudo de eventos para confrontar o comportamento do retorno das ações no período de 30 de setembro 2015 a 30 de setembro de 2017. A pesquisa parte da teoria de mercado eficiente. As informações selecionadas foram distribuídas em grupos, sendo: A - Divulgação dos resultados trimestrais; B - Operações de compra e venda de participações; C - Mudanças relacionadas ao Financiamento Estudantil. Os resultados evidenciaram que a reação que caracterizou o fator mercado eficiente foi identificada no Grupo C, em parte corroborada pelo comportamento do preço da ação.

Suggested Citation

  • Vicentina Gomes, Liliane & Odálio dos Santos, José & Lana Silva, Cristiane & Ferreira de Souza, Maurício, 2018. "Divulgações de informações e o efeito no retorno de ações da maior empresa de educação listada na B3 (Brasil, Bolsa, Balcão) [Information disclosures and the effect on the return of stocks of the l," MPRA Paper 93123, University Library of Munich, Germany, revised 30 May 2018.
    • Handle: RePEc:pra:mprapa:93123
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    References listed on IDEAS

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    More about this item

    Keywords

    Eficiência de Mercado; Estudo de Eventos; Instituição de Ensino.;
    All these keywords.

    JEL classification:

    • G14 - Financial Economics - - General Financial Markets - - - Information and Market Efficiency; Event Studies; Insider Trading
    • I23 - Health, Education, and Welfare - - Education - - - Higher Education; Research Institutions
    • M10 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Business Administration - - - General
    • M41 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Accounting - - - Accounting

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