O comportamento das ações da Petrobras diante da divulgação dos comunicados de mercado e fatos relevantes feitos pela empresa

Abstract

The present study sought to analyze the behavior of Petrobras' shares in relation to the disclosure of market reports. Therefore, the overall objective was to evaluate the behavior of the PETR3 and PETR4 shares of the company before and after the disclosure of the market announcements and relevant facts in 2017 and also had specific objectives to verify the influence of information on the formation of price and determine if it is possible to identify the form of market efficiency by analyzing the quotations of the company's shares. This research can be classified as: descriptive, quantitative, bibliographical, documentary and case study. Through statistical techniques of simple average and standard deviation, the change in stock prices of the company in question was calculated one day before and one day after the disclosure of market announcements and relevant facts made by the company. The results indicated that the company's shares had the highest prices on the dates with disclosure of announcements referring to the classification of risks and investments, while the lowest prices were related to legal aspects and other classifications. In addition, the results also suggested that the disclosure of market reports influenced the company's stock price and that it was not possible to ascertain and identify the market efficiency hypothesis based on the results of this research.