Skip navigation
Please use this identifier to cite or link to this item:
Files in This Item:
File Description SizeFormat 
ARTIGO_InformationalContentRevaluation.pdf67,24 kBAdobe PDFView/Open
Title: The informational content of revaluation reserves in the Brazilian capital market
Authors: Rodrigues, Jomar Miranda
Niyama, Jorge Katsumi
Paulo, Edilson
Assunto:: Informação contábil
Ativos (Contabilidade)
Mercado de capitais - Brasil
Issue Date: Jan-2012
Publisher: Universidade Federal de Minas Gerais
Citation: RODRIGUES, Jomar Miranda; NIYAMA, Jorge Katsumi; PAULO, Edilson. The informational content of revaluation reserves in the Brazilian capital market. Revista contabilidade vista & revista, Belo Horizonte, v.23, n.1, p.75-95, jan./mar. 2012. Disponível em: <>. Acesso em: 08 nov. 2013.
Abstract: The use of accounting numbers for evaluation of firms has deserved local and international researches, mostly in the capital market. Multiple studies try to analyze the relevance of revaluation reserves (SHARPE; WALKER, 1975; STANDISH; UNG, 1982; BARTH; CLINCH, 1998; ABOODY; BARTH; KASZNIK, 1999; LOPES, 2006; PAIK, 2009). However, owing to Law no. 11.638/07, forbidding to revaluate assets in Brazil, the significance of assets revaluation is being questioned. Hence, the following research issue: Does the assets revaluation exhibit anyrelevanceinformation when evaluating capital market firms? The purpose of this work is to verify whether the assets revaluation really brings in a significant informational content for the capital market in Brazil. In order to accomplish that purpose, we employed an approach originating from the Ohlsonmodel (1995), aiming at testing the importance of the revaluation reserves and the market value of Brazilian companies listed by the São Paulo Stock Exchange - BOVESPA, by using quarterly panel data for period 1995-2007. The results showed that nearly 33% of the companies selected in the sampling presented significant information regarding assets revaluation for the capital market. Durable Goods, Construction and Transports, Cyclic and Non-cyclic Consumption industries were among the most reserve-based representative economy sectors. It is, therefore, suggested that the assets revaluation does have the informational power and is effectively meaningful for the Brazilian capital market.
Licença:: Contabilidade vista & revista - Os artigos publicados são de responsabilidade dos autores não traduzindo, necessariamente, a opinião da revista. A reprodução dos artigos, total ou parcial, pode ser feita desde que citada a fonte. Fonte: Acesso em: 08 nov. 2013.
Appears in Collections:CCA - Artigos publicados em periódicos

Show full item record Recommend this item " class="statisticsLink btn btn-primary" href="/handle/10482/14551/statistics">

Items in DSpace are protected by copyright, with all rights reserved, unless otherwise indicated.