Disclosure of Accounting Information on the Current Capital Markets in Brazil

Abstract

Companies can establish relationships of trust with their stakeholders, in addition to creating value, by adopting the practice of disclosing information, for example, corporate market risks. Trust placed in a company comes from the information it makes public to its stakeholders. This study is exploratory in nature and seeks to explain the relevance of information asymmetry and voluntary or mandatory disclosure of accounting information in the current context of the capital market. In the descriptive stage of this documentary and electronic research, it is highlighted that the disclosure of information continues as a control mechanism that minimizes informational asymmetry and mitigates agency problems. The investigation was carried out via document analysis and it is inferred that, due to the complexity of the subject, it is necessary to deepen research on information asymmetry and informational disparity, since information is a determining factor for the efficient allocation of resources and economic growth. As of 2016, the Securities and Exchange Commission regulates the mandatory aspect of the presentation of accounting disclosure of Brazilian companies. Information disparity affects capital owners and to minimize this problem, the practice of “disseminating information” is adopted through sharing channels between the company and its market. It is understood that it is essential to reduce these asymmetries based on voluntary and mandatory disclosure of accounting information in the capital market. Future research should emphasize the reality and importance of this issue in a capital market in continuous expansion such as Brazil's.