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Relation between the Market Risk and the Quality of Accounting Information for the Brazilian Financial Institutions

2017; UNIVERSIDADE FUMEC; Volume: 16; Issue: 4 Linguagem: Inglês

10.21714/1984-6975faces2017v16n4art4201

1984-6975

Fernando Maciel Ramos, Renan Caramori,

Business and Management Studies

The study aimed to analyze the relationship between the market risk and the quality of accounting information of Brazilian financial institutions. The variables used in the study were: (i) volatility of the stock; (ii) quality of information accounting index through disclosure; (iii) size, profitability and debt. The survey sample consists of 55 organizations belonging to the financial segment of the BM&FBovespa. The results of multiple linear regression analysis demonstrated a significant compared to the proposed model with a power of explanation of 52.10%. The results converged to explain the study's assumption, resulting in a significant negative correlation between volatility and quality of accounting information, as well as volatility and size, and profitability. Starting from the main point, it is concluded that companies with a higher level of disclosure have lower volatility of stock returns, effecting thus cited and presumed importance attached by the market to the accounting information.