Value relevance das perdas por impairment para o mercado de capitais brasileiro

Abstract

The objective of the research was to identify whether the disclosed information on impairment losses is relevant to the Brazilian capital market. For the period from 2010 to 2017, the sample consisted of all the companies listed in Brasil, Bolsa, Balcão (B3), except those that presented incomplete data, totaling a sample with 1184 observations. Data were collected from the Thomson Reuters Eikon® database. Multiple regression was used, with balanced panel data. The model applied was based on the model proposed by Ohlson (1995). The results showed that the impairment shows a negative relation with the stock price of the companies, however, it did not present statistical significance. Thus, it was verified that the information regarding the impairment is not taken to the Brazilian capital market as relevant information, this result may be due to the low frequency in which impairment losses are recorded and consequently, this information ends up not being perceived investors.