MARKET VALUE AND VOLUNTARY DISCLOSURE: AN EMPIRICAL STUDY IN COMPANIES LISTED ON BM&FBOVESPA

被引：0
作者：
de Sousa, Claudineia Boaventura [1 ]
da Silva, Aldy Fernandes [1 ]
Ribeiro, Maisa de Souza [1 ]
Jreige Weffort, Elionor Farah [1 ]
机构：
[1] Fdn Escola Comercio Alvares Penteado, Ciencias Contabeis, Av Liberdade 532, Sao Paulo, SP, Brazil
来源：
REVISTA AMBIENTE CONTABIL | 2014年 / 6卷 / 02期
关键词：
Market value; Voluntary disclosure; Corporate Social Responsibility;
D O I：
暂无
中图分类号：
F8 [财政、金融];
学科分类号：
0202 ;
摘要：
This study investigates empirically the relationship between the market value (measured by Tobin's q coefficient) and voluntary disclosure of economic, social and environmental information by companies listed on the BM&FBovespa from 2007 to 2011. The results indicate a significant positive relationship between economic voluntary disclosure and the market value of firms, as well as, a significant negative relationship between the market value and environmental voluntary disclosure, suggesting a tradeoff between the view of the investor and manager. Concerning social voluntary disclosure, the results did not indicate significant relationship.
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页码：94 / 115
页数：22
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