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Previous issue date: 2015-12-18 / This study tested if there is a relationship between financial indicators and stock returns in Brazilian market. This study also sought to identify what are the financial indicators that have a greater statistical significance in relation to the return of the stocks in Brazilian market. As objectives, the research methodology of this study is explanatory. For the procedures, it is an experimental research. The study applied the quantitative approach to information, using correlation analysis, multiple linear regression, pooled cross section and data analysis. The population consisted of all companies listed on the BM&FBOVESPA and the sample was selected based on criteria of liquidity and daily trading of shares. The dependent variable is the quarterly stock returns and the independent variables are the selected financial indicators. The period chosen for the study began in January 1, 2010, ending December 31, 2014. The results of the statistical tests employed indicated that there is some relationship between financial indicators and the quarterly return of the stocks. The research identified the average collection period and working capital on net sales as the most significant financial indicators statisticaly at 1% compared to the quarterly return of the shares. / O presente trabalho testou se existe rela????o entre os indicadores cont??beis e o retorno das a????es no mercado brasileiro. Este estudo tamb??m buscou identificar quais s??o os indicadores cont??beis que possuem maior signific??ncia estat??stica em rela????o ao retorno das a????es no mercado brasileiro. Quanto aos objetivos, a metodologia de pesquisa deste trabalho ?? explicativa. Quanto aos procedimentos, ?? uma pesquisa experimental. O estudo aplicou a abordagem quantitativa das informa????es, com a utiliza????o de an??lise de correla????o, regress??o linear m??ltipla, corte transversal agrupado e an??lise de dados em painel. A popula????o foi constitu??da por todas as empresas listadas na BM&FBOVESPA e a amostra foi selecionada com base no crit??rio de liquidez e negocia????o di??ria das a????es. A vari??vel dependente ?? o retorno trimestral das a????es e as vari??veis independentes s??o os indicadores cont??beis selecionados. O per??odo escolhido para o estudo inicia-se em 01 de janeiro de 2010, finalizando em 31 de dezembro de 2014. Os resultados dos testes estat??sticos empregados indicaram que existe rela????o entre alguns indicadores cont??beis e o retorno trimestral das a????es. A pesquisa identificou o per??odo m??dio de cobran??a e o capital circulante l??quido sobre as vendas l??quidas como os indicadores cont??beis mais significantes estatisticamente ao n??vel de 1%, em rela????o ao retorno trimestral das a????es.
| Identifer | oai:union.ndltd.org:IBICT/oai:132.0.0.61:jspui/707 |
| Date | 18 December 2015 |
| Creators | COSTA, Alexandre Dias |
| Contributors | PETERS, Marcos Reinaldo Severino, ARARIPE, Carlos Alberto, ODA, Andr?? Luiz |
| Publisher | FECAP, Mestrado em Administra????o, FECAP, Brasil, Funda????o Escola de Com??rcio ??lvares Penteado |
| Source Sets | IBICT Brazilian ETDs |
| Language | Portuguese |
| Detected Language | English |
| Type | info:eu-repo/semantics/publishedVersion, info:eu-repo/semantics/masterThesis |
| Format | application/pdf |
| Source | reponame:Biblioteca Digital de Teses e Dissertações do FECAP, instname:Fundação Aramando Álvares Penteado, instacron:FAAP |
| Rights | http://creativecommons.org/licenses/by-nc-nd/4.0/, info:eu-repo/semantics/openAccess |
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