O Efeito da Diversificação Corporativa sobre a Agressividade Tributária nas Empresas  Brasileiras

Antonio Lopo Martinez; Aline Maioli Rodrigues

doi:10.51341/1984-3925_2020v23n1a3

Authors

Antonio Lopo Martinez Universidade de Coimbra http://orcid.org/0000-0001-9624-7646
Aline Maioli Rodrigues Fucape Business School http://orcid.org/0000-0003-1646-7468

DOI:

https://doi.org/10.51341/1984-3925_2020v23n1a3

Keywords:

Tax aggressiveness, Corporate diversification, Single-segment

Abstract

Objective: To verify whether firms that operate in several different business sectors are more tax aggressive in comparison to firms that operate in a single or a few segments.

Method: The study analyzes a sample of firms listed in the Brazilian stock exchange B3 in the period from 2010 to 2017. To verify the existence of a relationship between diversification and tax aggressiveness, a data panel regression model with fixed effect of company and year was used and additionally the logit model. To measure tax aggressiveness, it was used ETR (effective rate of taxation) and ETR long (long-run effective tax rates).

Originality/relevance: This type of research is unprecedented in Brazil, being a point not yet explored in the literature, in view of its peculiarities of a developing country. Relevant to define the effect of diversification on tax aggressiveness.

Results: It was observed that the more companies are diversified, the lower the probability of having low tax aggressiveness, or that more diversified companies are more likely to be more aggressive, compared to companies with only one segment. Therefore, the results indicate that among companies with segments, the more segments, the more aggressive the company.

Theoretical/Methodological contributions: A better understanding of the phenomenon of tax aggressiveness, causes and determinants, having implications for financial statement users, in particular tax regulators.

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