TAVARES, F. B. R.; http://lattes.cnpq.br/6659416517812913; TAVARES, Fernanda Beatryz Rolim.
Resumen:
Understandability of the financial statements of the companies is of utmost importance to users, as these need to be updated on the financial position, and the decisions that management takes to ensure their security. The relevant facts are narrative texts disclosed to the market with information that may influence the decision of shareholders, investors, and other users. These facts may be disclosed to any time and do not suffer from monitoring or audit, allowing some freedom for companies about their disclosure. So, this study want to analyze the impact that these texts can cause your readers and if can be considered as one criterion of influence on stock prices. The research presents a typology of exploratory character with a qualitative and quantitative approach. For the analysis we selected companies the Financial Sector - Banks that had data listed on the Bovespa and were collected as a sample 383 Material Facts. There was a greater tendency of companies to use up the disclosures as positive factors where the price does not always followed this trend. Finally one can see that most of the relevant facts classified as beneficial the company has brought an increase in the value of stock , as well as information that caused injury, whether financial or corporate image, resulted in a drop in the price of their stock. It was noted then that the relevant facts by bringing a real everyday situation of the company, can be considered a factor of influence on the stock price.
