Content analysis of the disclosure in the Company Reports of the Financial Reports of participating companies in the governance of Bovespa

This article uses content analysis to examine the disclosure shown in the Company Reports of the Financial Reports of companies participating in the levels of Bovespa's governance, obligatory items to declare by Law no 6,404/76, or items recommended by the CVM through Guideline 15/87 as well as other non-obligatory and non-recommended items. The methodology used in the research is a descriptive survey type, with a qualitative-quantitative approach. The research shows that 58 public Brazilian companies which participate in the first and second level of Bovespa's governance and new market, disclosed more declarative-type sentences in their 2004 company reports, according to BDI no 190/2005.