THE RELEVANCE OF FINANCIAL INFORMATION ON B3 LISTED COMPANIES ACTING WITH BIOLOGICAL ASSETS AFTER ADOPTION OF CPC 29

This paper analyzes the effects on the relevance of financial information after the adoption of CPC 29, proposing to verify whether there were significant changes, especially regarding the stock price, information content, predictive capacity of future cash generation of companies. Brazilian companies listed in B3. We analyzed information from 2005 to 2017 from companies participating in B3 that maintained biological asset inventories. The Value Relevance model was applied to the data treatment. The results suggest that the implementation of IFRS standards led to changes in share pricing at t + 4 months after the closing of the financial statements and confirmed the existence of a positive relationship between biological assets and share price. The results also show the presence of gains to the informational content indicated by the change of investor perception. However, the data analyzed did not show informational gains on operating cash flow generation within three months of the closing of the financial statements. As contributions, it highlights greater clarity after the application of the norm, besides subsidizing the professional and academic class with its results.