Disclosure of Relevant Acts or Facts: A Study of Brazilian Companies Issuing American Deposit Receipts – Adrs at American Stock Exchanges
Journal Title: Archives of Business Research - Year 2017, Vol 5, Issue 1
Abstract
The aim of this article identifies, evaluates and describes relevant facts and acts' occurrences disclosed by Brazilian companies issuing ADRs - American Depositary Receipts. The analysis was made based on 1,125 information extracted from the Comissão de Valores Imobiliários – CVM’s website, the regulatory commission organization empowered to regulate, standardize and supervise the activities of trade agents of public securities in Brazil. The research used information that was carried out from January 2006 to April 2012. It was evidenced that companies whose trade their depositary receipts in markets with high standards of corporate governance practices do not disclose a larger amount of information than the lower one governance practices. This research expands the knowledge about the content, frequency and timing of disclosure of relevant information by Brazilian organizations in international equity markets.
Authors and Affiliations
Ludmila Lavorato Loures, Carlos Alberto Gonçalves, Daniel Jardin Pardini
Keywords
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- EP ID EP312194
- DOI 10.14738/abr.51.2319.
- Views 77
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