A finalidade da avaliação de empresas, no Brasil, apresenta viés? Evidências empíricas sob o ponto de vista do desempenho econômico-financeiro
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Data
2012-09
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Resumo
The objective of the survey is to investigate and evaluate whether the projections of
economic-financial performance done by Brazilian companies in assessment reports,
are, on average, cohesive throughout time. A collection of 10 variables was established,
which makes the economic-financial performance. From this, the projections of these
variables were collected from the company evaluation reports with the objective of a
Public Offer of Acquisition of Shares (POAS) in the period between 2002 and 2008,
then compared to those realized. For the realization tests of measures, in paired samples
were performed with the application of the t-Student parametric test or the non-parametric
Wilcoxon. The results show that the finally, the aim of the voluntary assessment showed
a bias of economic-financial over evaluated performance, while the evaluation reports,
with the aim of canceling the registers, did not show an under evaluation of the
performance.
Descrição
Palavras-chave
Avaliação de empresas, Oferta pública de aquisição de ações, Viés da avaliação, Finalidade da avaliação, Desempenho econômico - financeiro, Valuation of companies, Bias in the valuation, Public offer of acquisition of shares, Economic-financial performance, Finality of the valuation
Citação
CUNHA, Moisés Ferreira da; MARTINS, Eliseu; ASSAF NETO, Alexandre. A finalidade da avaliação de empresas, no Brasil, apresenta viés? Evidências empíricas sob o ponto de vista do desempenho econômico-financeiro. Contabilidade Vista & Revista, Belo Horizonte, v. 23, n. 3, p. 15-47, jul./set. 2012.