Impactos da pandemia do Covid-19 no preço das ações nas empresas do agronegócio listadas na B3

Abstract

This article aims to analyze and ascertain whether the Covid-19 pandemic significantly affected the share prices of Brazilian companies listed on B3, which maintained stocks of biological assets during the investigated period encompassing previous years, both during and after the peak of disease contamination. For this analysis, quantitative research was conducted on a sample of 296 companies (after exclusions) listed on B3 between 2017 and 2022, using the Economática platform and analyzed using Stata software, estimated by the Ordinary Least Squares (OLS) method. The findings suggest that the Covid-19 pandemic did not significantly impact the share prices of the analyzed companies, but did affect their future cash flow. On the other hand, biological assets showed a positive variation during the period, indicating an increase in the share prices of companies with a considerable book value of biological assets. This research provides insights for potential investors and other stakeholders interested in companies holding biological assets, by highlighting their behavior in the face of a major adversity such as the public calamity and economic instability caused by Covid-19, as well as providing a foundation for further research on the impacts of the generated economic crisis.