<b>Hermeneutics as analysis method of reports from OGX Petróleo e Gás Participações S.A.

Abstract

An hermeneutic analysis of the contents of a set of information involving news published by the OGX Petróleo e Gás Participações S.A. company and other financial information are provided to explain the transition from the biggest primary offering of shares registered on the Brazilian market to the bankruptcy petition after just six years of activities. Foregrounded on the concepts of critical hermeneutics with regard to the implementation of the hermeneutic circle, historicity of understanding and the hermeneutic horizon, understanding dialogue and the fusion of horizons, interpretation and authorial intent, different patterns of action among the company´s investors were detected. The relationship between periods of accumulation of positive news and the growth of the market value was evident. Financial data supported growth up to the trend break. However, immediately after the first liabilities, financial information presented a constant fall, but the impact in terms of devaluation was different among investors owing to different modes of comprehension.