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- Title
Análise da Relevância da Informação Contábil: A Observação do LL e EBITDA nos Subsetores de Químicos, Siderurgia e Metalurgia no Período de 2008 a 2012.
- Authors
Vicente dos Prazeres, Rodrigo; Gonçalves de Araújo, Juliana; de Nascimento de Castro, Maxlei; Teixeira Lagioia, Umbelina Cravo
- Abstract
This study aims to determine which measure between Net Income (LL) and EBITDA, best explains the stock price of the subsectors of Chemicals and Steel of BM&FBovespa from 2008 to 2012. The analysis was divided into two blocks, in the firs were performed simple linear regressions relating the LL and then the EBITDA to the stock price, and the second block, which comprised multiple regression analysis, where PLPA variable was introduced as a control variable. As results it was observed that when the LL and EBITDA are related to the stock price through simple linear regressions, both variables show significant positivive relationsto the stock price, morever was found that EBITDA is more value relevant by presenting a highest Adjusted R². However, when the PLPA is fed as a control variable thought multiple regressions, only the LL shown significant positive relation, while EBITDA did not show a significant relation. Moreover, the Adjusted R² of the multiple regressions where higher for LL and PLPA when both variables are related together, while EBITDA and PLPA shown to be less relevant as was observed a lower Adjusted R².
- Publication
Veredas FAVIP: Revista Eletrônica de Ciências e Cultura, 2015, Vol 8, Issue 1, p79
- ISSN
1679-1746
- Publication type
Article