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Given the uncertainty in the financial market, it requires from the decision makers to have a greater care in their estimates
The expansion of the Brazilian capital market has generated the need for an understanding of the factors that determine the formation of the pricing of shares.
This study aims to determine the share prices of companies listed on the BM&FBovespa that keep some relations with some financial indicators, including earnings per share, the book value per share and total assets used as a proxy for the company size
Ohlson (1995) says it is possible that the financial statements help in understanding the stock price, being a deciding factor for the investor. In this approach, the expectation of future earnings taken in present values and the information itself obtained in the present, on the immediately preceding period, are relevant factors in the analysis
The panel data methodology during the period 2009 to 2013
The results show that such information is relevant in determining stock prices.
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