Banca de QUALIFICAÇÃO: JOÃO CARLOS GONÇALVES

An econometric analysis of Financial Institutions regarding investment in Intangible Assets and its impact on bank share prices?

Intangible assets; Financial institutions; Value relevance; Stock price; Accounting

This study aimed to analyze the impact of investment in intangible assets on the stock prices of Brazilian financial institutions listed on B3. Based on the information asymmetry theory and disclosure theory, it investigated how these assets, often underestimated by current accounting standards, influence stock pricing in the capital market. Using econometric techniques through panel regression models, taking into account the time lag , the study sought to verify the relationship between investments in intangibles (such as brands, software, intellectual capital, and digital technologies) and the behavior of bank stock prices. The research highlights that, although intangible assets are not fully recognized in the balance sheets, the financial market considers these investments essential for future value generation. The thesis in construction also discusses the accounting challenges involved in measuring and recognizing intangible assets, emphasizing the need for evolving accounting standards to better reflect the economic reality of companies in the new knowledge-based economy. The conclusions reinforce the importance of greater informational transparency for investors and analysts, contributing to reducing information asymmetry and enhancing the relevance of accounting in investment decisions.