In order to achieve the proposed objective, we used econometric models of: information relevance, adapted from the model by Ohlson (1995); book earnings informativeness, adapted from the model by Easton and Harris (1991); disclosure, according to Lanzana (2004), Alencar (2005), and Murcia and Santos (2009) for determining the variables of the model concerned; information asymmetry, according to Dadalt et al. (2002). The PSM method was also used to investigate the impact of HA, in the causal relation, on disclosure and information asymmetry.