O efeito da percepção de fraude sobre os agentes na decisão de investimento: estudo de caso envolvendo uma empresa petrolífera brasileira

Abstract

There are several sources of information for organizations and accounting stands out for being considered the science responsible for the registration process and measurement of facts involving the organization. Decisions taken by the organizations are what determines the value of their shares for the financial market. The possible occurrence of fraud can impact the value of the shares of an organization and consequently its own value, as well as institutional image. Fraud occurs when someone detects an opportunity that provides bribes. This study aims to identify the impact that a fraud process has on the market value of an organization of the Brazilian oil sector, as well as the effect of this perception on the decision of professionals linked to the investment market. The methodology used is qualitative research. For data collection questionnaires were applied during the second half of 2015, along with financial market professionals. We conducted a parallel case in question with the Enron case - accounting and financial fraud identified in 2001, which had the potential to give rise to new laws and regulations on the stock market, publicly traded companies and their own regulatory bodies capital in the us, with global repercussions, as well as a comparison of the company's results studied, over which hangs the perception of fraud, with that of another company of the same oil industry, operating without problems related to fraud or confidence fall in same period. The results indicate that the perception of fraud directly impacted the stock price of a Brazilian oil company; the information disclosed by the company are not sufficient for its users being necessary to establish new governance measures to restore the confidence of investors and society in general - confidence, this, base of the entire investment market