Valor de mercado, agressividade tributária e ciclo de vida: uma análise das empresas de capital aberto inseridas na B3

Abstract

This monography studies the relation between the market value, tax aggressiveness and the organizational life cycle stages, aiming to contribute with the debates about the scope at tax accounting, starting from the argument that the market value of the company is affected by the level of tax aggressiveness when analyzed through the optic of the organizational life cycle stages. It is an explanatory research, with a quantitative nature. The sample was composed by 189 Brazilian firms listed on the official stock exchange of Brazil (B3) during the period from 2011 to 2020, with collected data from the Economatica database. The chosen econometric strategy was the quantile regression, in which were estimated the regression models with panel data. The main results suggest an influence from the tax aggressiveness on the market value, when intermediated by the organizational life cycle stages in the open capital Brazilian companies. With this, contributes to the debates about the behavior of ETR in the empirical literature of the field of studies.