Mecanismos externos de controle da gestão e tax avoidance: evidências de empresas no Brasil
Palavras-chave:
Mecanismos externos de controle; Tax avoidance; Agressividade fiscal.
Resumo
Objetivo: Este estudo tem o objetivo de investigar a relação entre os mecanismos externos de controle da gestão e o nível de atividades de tax avoidance nas empresas brasileiras.
Método: A amostra foi composta por 70 empresas listadas na B3, no período de 2015-2019. O nível de tax avoidance foi mensurado pelos modelos propostos por Tang (2014) e Atwood et al. (2012). Os mecanismos externos de controle da gestão foram mensurados pela qualidade da governança, tamanho e independência do comitê de auditoria, qualidade da auditoria e o monitoramento de analistas financeiros. Fez-se uso de estatística descritiva e multivariada.
Originalidade/Relevância: Dada a complexidade do sistema tributário e as fragilidades institucionais do Brasil, gestores podem identificar este ambiente como propício para adotar práticas de tax avoidance. Portanto, mostra-se relevante analisar como os mecanismos externos de controle podem afetar o nível de agressividade fiscal das empresas, de modo a inibir o oportunismo dos gestores decorrentes de práticas de redução de tributos.
Resultados: Os resultados demonstraram níveis elevados de tax avoidance praticado pelas empresas brasileiras. Ademais, sinalizam que a presença do comitê de auditoria promove a adoção de estratégias de tax avoidance, e que quanto maior e mais independente for o comitê de auditoria, menor será a probabilidade dessas estratégias serem agressivas. Observou-se, ainda, que quanto mais as empresas se engajam em atividades de tax avoidance, maiores são os erros de previsão do lucro.
Contribuições Teóricas/Metodológicas/Práticas: O estudo contribui para enriquecer a literatura sobre tributos, pois sinaliza como alguns mecanismos externos de controle podem restringir práticas de tax avoidance, refletindo-se, assim, nos custos de agência decorrentes do monitoramento das ações de gestores quanto às questões tributárias. Os resultados podem ainda auxiliar órgãos governamentais na elaboração de políticas públicas para evitar perdas de receitas fiscais.
Downloads
Não há dados estatísticos.
Referências
Aguilera, R. V., Desender, K., Bednar, M. K., & Lee, J. H. (2015). Connecting the dots: bringing external corporate governance into the corporate governance puzzle. The Academy of Management Annals, 9(1), 483-573.
Ajili, H., & Khlif, H. (2020). Political connections, joint audit and tax avoidance: evidence from Islamic banking industry. Journal of Financial Crime, 27(1), 155-171.
Allen, A., Francis, B. B., Wu, Q., & Zhao, Y. (2016). Analyst coverage and corporate tax aggressiveness. Journal of Banking & Finance, 73, 84-98.
Araújo, C. E. B., Cabral, A. C. A., Santos, S. M., Pessoa, M. N. M., & Roldan, V. P. S. (2013). Grau de adesão de empresas familiares às boas práticas de governança corporativa: proposição e teste de um instrumento-diagnóstico. Revista Alcance – Eletrônica, 20(1), 117-138.
Atwood, T. J., Drake, M. S., Myers, J. N., & Myers, L. A. (2012). Home country tax system characteristics and corporate tax avoidance: international evidence. The Accounting Review, 87(6), 1831-1860.
Austin, C. R., & Wilson, R. J. (2017). An examination of reputational costs and tax avoidance: evidence from firms with valuable consumer brands. The Journal of the American Taxation Association, 39(1), 67-93.
Ayers, B. C., Call, A. C., & Schwab, C. M. (2018). Do analysts’ cash flow forecasts encourage managers to improve the firm’s cash flows? Evidence from tax planning. Contemporary Accounting Research, 35(2), 767-793.
Balakrishnan, K., Blouin, J., & Guay, W. (2018). Tax aggressiveness and corporate transparency. The Accounting Review, 94(1), 45-69.
Bauer, A. M. (2016). Tax avoidance and the implications of weak internal controls. Contemporary Accounting Research, 33, 449-486.
Bayar, O., Huseynov, F., & Sardarli, S. (2018). Corporate governance, tax avoidance, and financial constraints. Financial Management, 47(3), 651-677.
Braga, R. N. (2017). Efeitos da adoção das IFRS sobre o tax avoidance. Revista Contabilidade & Finanças – USP, 28(75), 407-424.
Bratten, B., Gleason, C. A., Larocque, S. A., Mills, L. F. (2017). Forecasting Taxes: New Evidence from Analysts. The Accounting Review, 92(3), 1-29.
Bulutoding, L. (2016). Analysis of aggressive tax in terms of good corporate governance company listed on the Indonesia stock exchange (IDX). Man in India, 96(11), 4455-4466.
Cao, Y., Hu, X., Lu, Y., & Su, J. (2019). Customer concentration, tax collection intensity, and corporate tax avoidance. Emerging Markets Finance & Trade, 56(11), 2563-2593.
Chen, N. X., Chiu, P. C., & Shevlin, T. (2018). Do analysts matter for corporate tax planning? Evidence from a natural experiment. Contemporary Accounting Research, 35(2), 794-829.
Chen, S., Chen, X., Cheng, Q., & Shevlin, T. (2010). Are family firms more tax aggressive than non-family firms? Journal of Financial Economics, 95(1), 41-61.
Chen, X., Hu, N., Wang, X., & Tang, X. (2014). Tax avoidance and firm value: evidence from China. Nankai Business Review International, 5(1), 25-42.
Coffee, J. C. (2006). Gatekeepers: the professions and corporate governance. Oxford: Oxford University Press.
Conyon, M. J., & He, L. (2017). Firm performance and boardroom gender diversity: a quantile regression approach. Journal of Business Research, 79, 198-211.
Desai, M. A., & Dharmapala, D. (2006). Corporate tax avoidance and high-powered incentives. Journal of Financial Economics, 79(1), 145-179.
Desai, M. A., & Dharmapala, D. (2009). Corporate tax avoidance and firm value. The Review of Economics and Statistics, 91(3), 537-546.
Desai, M. A., Dyck, A., & Zingales, L. (2007). Theft and taxes. Journal of Financial Economics, 84(3), 591-623.
Deslandes, M., Fortin, A., & Landry, S. (2019). Audit committee characteristics and tax aggressiveness. Managerial Auditing Journal, 35(2), 272-293.
Druda Filho, S., & Pimentel, R. C. (2022). Incertezas macroeconômicas e viés dos analistas sell-side no mercado brasileiro. Enfoque Reflexão Contábil, 41(1), 39-57.
Eisenhardt, K. M. (1989). Agency theory: an assessment and review. Academy of Management Review, 14(1), 57-74.
Ernst & Young. (2019). Worldwide corporate tax guide. Retrieved June 20, 2020, from https://www.ey.com/en_gl/tax-guides/worldwide-corporate-tax-guide-2019
Fernandes, V. L., Martinez, A. L., & Nossa, V. (2013). The influence of the best corporate governance practices on the allocation of value added to taxes. A Brazilian case. Contabilidade, Gestão e Governança, 16(3), 58-69.
Firmansyah, D. S. A. (2020). The role of corporate governance on earnings quality from positive accounting theory framework. International Journal of Scientific & Technology Research, 9(1), 808-820.
Furuta, F., & Santos, A. D. (2010). Comitê de auditoria versus conselho fiscal adaptado: a visão dos analistas de mercado e dos executivos das empresas que possuem ADRs. Revista Contabilidade & Finanças – USP, 21(53), 1-23.
Gaaya, S., Lakhal, N., & Lakhal, F. (2017). Does family ownership reduce corporate tax avoidance? The moderating effect of audit quality. Managerial Auditing Journal, 32(7), 731-744.
Goh, B. W., Lee, J., Lim, C. Y., & Shevlin, T. (2016). The effect of corporate tax avoidance on the cost of equity. The Accounting Review, 91(6), 1647-1670.
Gomes, A. P. M. (2016). Características da governança corporativa como estímulo à gestão fiscal. Revista Contabilidade & Finanças – USP, 27(71), 149-168.
Guizani, M., & Abdalkrim, G. (2021). Ownership structure and audit quality: the mediating effect of board independence. Corporate Governance, 21(5), 754-774.
Hanlon, M., & Heitzman, S. (2010). A review of tax research. Journal of Accounting and Economics, 50(2-3), 127-178.
Hanlon, M., & Slemrod, J. (2009). What does tax aggressiveness signal? Evidence from stock price reactions to news about tax shelter involvement. Journal of Public Economics, 93(1–2), 126-141.
He, G., Ren, H. M., & Taffler, R. (2020). The impact of corporate tax avoidance on analyst coverage and forecasts. Review of Quantitative Finance and Accounting, 54(2), 447-477.
Hoseini, M., Gerayli, M. S., & Valiyan, H. (2019). Demographic characteristics of the board of directors’ structure and tax avoidance. International Journal of Social Economics, 46(2), 199-212.
Hsu, P. H., Moore, J. A., & Neubaum, D. O. (2018). Tax avoidance, financial experts on the audit committee, and business strategy. Journal of Business Finance & Accounting, 45(9/10), 1293-1321.
Instituto Brasileiro de Governança Corporativa. (2015). Código das melhores práticas de governança corporativa. São Paulo, SP: IBGC.
Jensen, M. C., & Meckling, W. H. (1976). Theory of the firm: managerial behavior, agency costs and ownership structure. Journal of Financial Economics, 3(4), 305-360.
Kanagaretnam, K., Lee, J., Lim, C. Y., & Lobo, G. J. (2016). Relation between auditor quality and tax aggressiveness: implications of cross-country institutional differences. Auditing, 35(4), 105-135.
Katz, S., Khan, U., & Schmidt, A. (2013). Tax avoidance and future profitability. Columbia Business School Research Paper Nº 13-10.
Kiswanto, A. P., Suryarini, T., Apriliyana, N., & Kadir, A. (2020). Tax avoidance in Indonesia: context of good corporate governance and corporate social responsibility. Humanities & Social Sciences Reviews, 8(2), 270-279.
Kleinert, V. C., Lana, J., & Floriani, D. (2019). Governança corporativa ilimitada para empresas limitadas. Revista de Administração Contemporânea, 23(6), 807-811.
Kovermann, J., & Velte, P. (2019). The impact of corporate governance on corporate tax avoidance – a literature review. Journal of International Accounting, Auditing and Taxation, 36(1), 1-29.
Lee, N. (2018). Tax avoidance, near-future earnings, and resource availability. International Review of Finance, 20, 1-12.
Lee, Y. J. (2021). The effects of analysts’ tax expense forecast accuracy on corporate tax avoidance: An international analysis. Journal of Contemporary Accounting & Economics, 17(2). https://doi.org/10.1016/j.jcae.2021.100243.
Lima, G. A. S. F., & Luca, M. M. M. (2016). A relação entre o monitoramento dos analistas de mercado e as características de valuation das companhias brasileiras. Revista Universo Contábil, 12(4), 129-151.
Luca, M. M. M., Martins, L. C., Maia, A. B. G. R., & Coelho, A. C. D. (2010). Os mecanismos de auditoria evidenciados pelas empresas listadas nos níveis diferenciados de governança corporativa e no Novo Mercado da Bovespa. Revista Contabilidade Vista & Revista, 21(1), 101-130.
Martinez, A. L., Ribeiro, A. C., & Funchal, B. (2019). Sarbanes Oxley Act and taxation: a study of the effects on the tax aggressiveness of Brazilian firms. Contabilidade Vista & Revista, 30(1), 27-42.
Medeiros, J. T., Paulo, E., Melo, C. L. L., & Mota, R. H. G. (2019). Previsão de analistas e as estratégias de gerenciamento de resultados utilizadas para evitar surpresa nos lucros. Revista Universo Contábil, 15(1), 49-64.
Mendonça, F., Martins, H. C., & Terra, P. (2019). Estrutura de capital e mecanismos de governança externos à firma: uma análise multipaís. Revista de Administração Contemporânea, 23(6), 765-785.
Novaes, P. V. G., Borges Júnior, P., Almeida, J. E. F., & Bortolon, P. M. (2018). Accruals discricionários e previsões otimistas dos analistas: incentivos e consequências. Revista Contabilidade Vista & Revista, 29(1), 28-47.
Ocak, M., & Can, G. (2019). Do government-experienced auditors reduce audit quality? Managerial Auditing Journal, 34(6), 722-748.
Ouyang, C., Xiong, J., & Huang, K. (2019). Do multiple large shareholders affect tax avoidance? Evidence from China. Internacional Review of Economics and Finance, 67, 207-224.
Potin, S., Silva, V. C., Reina, D., & Sarlo Neto, A. (2016). Análise da relação de dependência entre proxies de governança corporativa, planejamento tributário e retorno sobre ativos das empresas da BM&FBovespa. Revista Organizações em Contexto, 12(23), 455-478.
Putra, W. E., Yuliusman, & Wisra, R. F. (2020). The relations among firm characteristic, capital intensity, institutional ownership, and tax avoidance: some evidence from Indonesia. Humanities & Social Sciences Reviews, 8(1), 315-322.
Qu, W., Kang, S., & Wang, L. (2020). Saving or tunnelling: value effects of tax avoidance in Chinese listed local government‐controlled firms. Accounting & Finance, 1-45.
Rego, S. O., & R. Wilson. (2012). Equity risk incentives and corporate tax aggressiveness. Journal of Accounting Research, 50(3), 775-810.
Rhee, C. S., Woo, S., & Kim, D. H. (2020). The effect of female employment on corporate sustainability in terms of tax avoidance. Sustainability, 12(140), 1-15.
Richardson, G., Taylor, G., & Lanis, R. (2013). The impact of board of director oversight characteristics on corporate tax aggressiveness: an empirical analysis. Journal of Accounting and Public Policy, 32(3), 68-88.
Riguen, R., Salhi, B., & Jarboui, A. (2020). Do women in board represent less corporate tax avoidance? A moderation analysis. International Journal of Sociology and Social Policy, 40(1/2), 114-132.
Rogers, P., & Ribeiro, K. C. S. (2006). Mecanismos de governança corporativa no Brasil: evidências do controle pelo mercado de capitais. Contextus – Revista Contemporânea de Economia e Gestão, 4(2), 17-28.
Rossetti, J. P., & Andrade, A. (2014). Governança corporativa: fundamentos, desenvolvimento e tendências. São Paulo: Atlas. São Paulo.
Ryandono, M. N. H., Ernayani, R., Atmojo, P., Susilowati, D., & Indriastuty, N. (2020). Factors influencing tax avoidance in Indonesia. Humanities & Social Sciences Reviews, 8(1), 366-372.
Santa, S. L. L., & Rezende, A. J. (2016). Corporate tax avoidance and firm value: from Brazil. Revista Contemporânea de Contabilidade, 13(30), 114-133.
Santos, L. M. S., Santos, M. I. C., & Leite Filho, P. A. M. (2022). A Influência da diversidade de gênero, no comitê de auditoria, na evidenciação de informações ambientais das empresas listadas na B3. Enfoque Reflexão Contábil, 41(1), 77-93.
Shi, W., Connelly, B. L., & Hoskisson, R. E. (2017). External corporate governance and financial fraud: cognitive evaluation theory insights on agency theory prescriptions. Strategic Management Journal, 38(6), 1268-1286.
Shin, I., & Park, S. (2019). The relation between product market competition and corporate tax avoidance: evidence from Korea. Investment Management and Financial Innovations, 16(2), 313-325.
Tang, T. Y. H. (2014). Does book-tax conformity deter opportunistic book and tax reporting? An international analysis. European Accounting Review, 24(3), 441-469.
Tang, T. Y. H., Mo, P. L. L., & Chan, K. H. (2017). Tax collector or tax avoider? An investigation of intergovernmental agency conflicts, The Accounting Review, 92(2), 247-270.
Vahdani, M., Najafabadi, A. T., Kermani, N. K., & Farhadi, Z. (2019). The role of corporate diversification in tax avoidance in companies listed in the tehran stock exchange. Humanities & Social Sciences Reviews, 7(1), 291-299.
Velte, P. (2017). The link between audit committees, corporate governance quality and firm performance: a literature review. Corporate Ownership & Control, 14(4), 15-31.
Wahab, E. A. A., Ariff, A. M., Markuzi, M. M., & Sanusi, Z. M. (2017). Political connections, corporate governance, and tax aggressiveness in Malaysia. Asian Review of Accounting, 25(3), 424-451.
Walsh, J. P., & Seward, J. K. (1990). On the efficiency of internal and external corporate control mechanisms. Academy of Management Review, 15(3), 421-458.
Yuniarwati, Y., Ardana, I. C., Dewi, S. P., & Lin, C. (2017). Factors that influence tax avoidance in Indonesia Stock Exchange. Chinese Business Review, 16(10), 510-517.
Zeng, T. (2019). Country-level governance, accounting standards, and tax avoidance: a cross-country study. Asian Review of Accounting, 27(3), 401-424.
Ajili, H., & Khlif, H. (2020). Political connections, joint audit and tax avoidance: evidence from Islamic banking industry. Journal of Financial Crime, 27(1), 155-171.
Allen, A., Francis, B. B., Wu, Q., & Zhao, Y. (2016). Analyst coverage and corporate tax aggressiveness. Journal of Banking & Finance, 73, 84-98.
Araújo, C. E. B., Cabral, A. C. A., Santos, S. M., Pessoa, M. N. M., & Roldan, V. P. S. (2013). Grau de adesão de empresas familiares às boas práticas de governança corporativa: proposição e teste de um instrumento-diagnóstico. Revista Alcance – Eletrônica, 20(1), 117-138.
Atwood, T. J., Drake, M. S., Myers, J. N., & Myers, L. A. (2012). Home country tax system characteristics and corporate tax avoidance: international evidence. The Accounting Review, 87(6), 1831-1860.
Austin, C. R., & Wilson, R. J. (2017). An examination of reputational costs and tax avoidance: evidence from firms with valuable consumer brands. The Journal of the American Taxation Association, 39(1), 67-93.
Ayers, B. C., Call, A. C., & Schwab, C. M. (2018). Do analysts’ cash flow forecasts encourage managers to improve the firm’s cash flows? Evidence from tax planning. Contemporary Accounting Research, 35(2), 767-793.
Balakrishnan, K., Blouin, J., & Guay, W. (2018). Tax aggressiveness and corporate transparency. The Accounting Review, 94(1), 45-69.
Bauer, A. M. (2016). Tax avoidance and the implications of weak internal controls. Contemporary Accounting Research, 33, 449-486.
Bayar, O., Huseynov, F., & Sardarli, S. (2018). Corporate governance, tax avoidance, and financial constraints. Financial Management, 47(3), 651-677.
Braga, R. N. (2017). Efeitos da adoção das IFRS sobre o tax avoidance. Revista Contabilidade & Finanças – USP, 28(75), 407-424.
Bratten, B., Gleason, C. A., Larocque, S. A., Mills, L. F. (2017). Forecasting Taxes: New Evidence from Analysts. The Accounting Review, 92(3), 1-29.
Bulutoding, L. (2016). Analysis of aggressive tax in terms of good corporate governance company listed on the Indonesia stock exchange (IDX). Man in India, 96(11), 4455-4466.
Cao, Y., Hu, X., Lu, Y., & Su, J. (2019). Customer concentration, tax collection intensity, and corporate tax avoidance. Emerging Markets Finance & Trade, 56(11), 2563-2593.
Chen, N. X., Chiu, P. C., & Shevlin, T. (2018). Do analysts matter for corporate tax planning? Evidence from a natural experiment. Contemporary Accounting Research, 35(2), 794-829.
Chen, S., Chen, X., Cheng, Q., & Shevlin, T. (2010). Are family firms more tax aggressive than non-family firms? Journal of Financial Economics, 95(1), 41-61.
Chen, X., Hu, N., Wang, X., & Tang, X. (2014). Tax avoidance and firm value: evidence from China. Nankai Business Review International, 5(1), 25-42.
Coffee, J. C. (2006). Gatekeepers: the professions and corporate governance. Oxford: Oxford University Press.
Conyon, M. J., & He, L. (2017). Firm performance and boardroom gender diversity: a quantile regression approach. Journal of Business Research, 79, 198-211.
Desai, M. A., & Dharmapala, D. (2006). Corporate tax avoidance and high-powered incentives. Journal of Financial Economics, 79(1), 145-179.
Desai, M. A., & Dharmapala, D. (2009). Corporate tax avoidance and firm value. The Review of Economics and Statistics, 91(3), 537-546.
Desai, M. A., Dyck, A., & Zingales, L. (2007). Theft and taxes. Journal of Financial Economics, 84(3), 591-623.
Deslandes, M., Fortin, A., & Landry, S. (2019). Audit committee characteristics and tax aggressiveness. Managerial Auditing Journal, 35(2), 272-293.
Druda Filho, S., & Pimentel, R. C. (2022). Incertezas macroeconômicas e viés dos analistas sell-side no mercado brasileiro. Enfoque Reflexão Contábil, 41(1), 39-57.
Eisenhardt, K. M. (1989). Agency theory: an assessment and review. Academy of Management Review, 14(1), 57-74.
Ernst & Young. (2019). Worldwide corporate tax guide. Retrieved June 20, 2020, from https://www.ey.com/en_gl/tax-guides/worldwide-corporate-tax-guide-2019
Fernandes, V. L., Martinez, A. L., & Nossa, V. (2013). The influence of the best corporate governance practices on the allocation of value added to taxes. A Brazilian case. Contabilidade, Gestão e Governança, 16(3), 58-69.
Firmansyah, D. S. A. (2020). The role of corporate governance on earnings quality from positive accounting theory framework. International Journal of Scientific & Technology Research, 9(1), 808-820.
Furuta, F., & Santos, A. D. (2010). Comitê de auditoria versus conselho fiscal adaptado: a visão dos analistas de mercado e dos executivos das empresas que possuem ADRs. Revista Contabilidade & Finanças – USP, 21(53), 1-23.
Gaaya, S., Lakhal, N., & Lakhal, F. (2017). Does family ownership reduce corporate tax avoidance? The moderating effect of audit quality. Managerial Auditing Journal, 32(7), 731-744.
Goh, B. W., Lee, J., Lim, C. Y., & Shevlin, T. (2016). The effect of corporate tax avoidance on the cost of equity. The Accounting Review, 91(6), 1647-1670.
Gomes, A. P. M. (2016). Características da governança corporativa como estímulo à gestão fiscal. Revista Contabilidade & Finanças – USP, 27(71), 149-168.
Guizani, M., & Abdalkrim, G. (2021). Ownership structure and audit quality: the mediating effect of board independence. Corporate Governance, 21(5), 754-774.
Hanlon, M., & Heitzman, S. (2010). A review of tax research. Journal of Accounting and Economics, 50(2-3), 127-178.
Hanlon, M., & Slemrod, J. (2009). What does tax aggressiveness signal? Evidence from stock price reactions to news about tax shelter involvement. Journal of Public Economics, 93(1–2), 126-141.
He, G., Ren, H. M., & Taffler, R. (2020). The impact of corporate tax avoidance on analyst coverage and forecasts. Review of Quantitative Finance and Accounting, 54(2), 447-477.
Hoseini, M., Gerayli, M. S., & Valiyan, H. (2019). Demographic characteristics of the board of directors’ structure and tax avoidance. International Journal of Social Economics, 46(2), 199-212.
Hsu, P. H., Moore, J. A., & Neubaum, D. O. (2018). Tax avoidance, financial experts on the audit committee, and business strategy. Journal of Business Finance & Accounting, 45(9/10), 1293-1321.
Instituto Brasileiro de Governança Corporativa. (2015). Código das melhores práticas de governança corporativa. São Paulo, SP: IBGC.
Jensen, M. C., & Meckling, W. H. (1976). Theory of the firm: managerial behavior, agency costs and ownership structure. Journal of Financial Economics, 3(4), 305-360.
Kanagaretnam, K., Lee, J., Lim, C. Y., & Lobo, G. J. (2016). Relation between auditor quality and tax aggressiveness: implications of cross-country institutional differences. Auditing, 35(4), 105-135.
Katz, S., Khan, U., & Schmidt, A. (2013). Tax avoidance and future profitability. Columbia Business School Research Paper Nº 13-10.
Kiswanto, A. P., Suryarini, T., Apriliyana, N., & Kadir, A. (2020). Tax avoidance in Indonesia: context of good corporate governance and corporate social responsibility. Humanities & Social Sciences Reviews, 8(2), 270-279.
Kleinert, V. C., Lana, J., & Floriani, D. (2019). Governança corporativa ilimitada para empresas limitadas. Revista de Administração Contemporânea, 23(6), 807-811.
Kovermann, J., & Velte, P. (2019). The impact of corporate governance on corporate tax avoidance – a literature review. Journal of International Accounting, Auditing and Taxation, 36(1), 1-29.
Lee, N. (2018). Tax avoidance, near-future earnings, and resource availability. International Review of Finance, 20, 1-12.
Lee, Y. J. (2021). The effects of analysts’ tax expense forecast accuracy on corporate tax avoidance: An international analysis. Journal of Contemporary Accounting & Economics, 17(2). https://doi.org/10.1016/j.jcae.2021.100243.
Lima, G. A. S. F., & Luca, M. M. M. (2016). A relação entre o monitoramento dos analistas de mercado e as características de valuation das companhias brasileiras. Revista Universo Contábil, 12(4), 129-151.
Luca, M. M. M., Martins, L. C., Maia, A. B. G. R., & Coelho, A. C. D. (2010). Os mecanismos de auditoria evidenciados pelas empresas listadas nos níveis diferenciados de governança corporativa e no Novo Mercado da Bovespa. Revista Contabilidade Vista & Revista, 21(1), 101-130.
Martinez, A. L., Ribeiro, A. C., & Funchal, B. (2019). Sarbanes Oxley Act and taxation: a study of the effects on the tax aggressiveness of Brazilian firms. Contabilidade Vista & Revista, 30(1), 27-42.
Medeiros, J. T., Paulo, E., Melo, C. L. L., & Mota, R. H. G. (2019). Previsão de analistas e as estratégias de gerenciamento de resultados utilizadas para evitar surpresa nos lucros. Revista Universo Contábil, 15(1), 49-64.
Mendonça, F., Martins, H. C., & Terra, P. (2019). Estrutura de capital e mecanismos de governança externos à firma: uma análise multipaís. Revista de Administração Contemporânea, 23(6), 765-785.
Novaes, P. V. G., Borges Júnior, P., Almeida, J. E. F., & Bortolon, P. M. (2018). Accruals discricionários e previsões otimistas dos analistas: incentivos e consequências. Revista Contabilidade Vista & Revista, 29(1), 28-47.
Ocak, M., & Can, G. (2019). Do government-experienced auditors reduce audit quality? Managerial Auditing Journal, 34(6), 722-748.
Ouyang, C., Xiong, J., & Huang, K. (2019). Do multiple large shareholders affect tax avoidance? Evidence from China. Internacional Review of Economics and Finance, 67, 207-224.
Potin, S., Silva, V. C., Reina, D., & Sarlo Neto, A. (2016). Análise da relação de dependência entre proxies de governança corporativa, planejamento tributário e retorno sobre ativos das empresas da BM&FBovespa. Revista Organizações em Contexto, 12(23), 455-478.
Putra, W. E., Yuliusman, & Wisra, R. F. (2020). The relations among firm characteristic, capital intensity, institutional ownership, and tax avoidance: some evidence from Indonesia. Humanities & Social Sciences Reviews, 8(1), 315-322.
Qu, W., Kang, S., & Wang, L. (2020). Saving or tunnelling: value effects of tax avoidance in Chinese listed local government‐controlled firms. Accounting & Finance, 1-45.
Rego, S. O., & R. Wilson. (2012). Equity risk incentives and corporate tax aggressiveness. Journal of Accounting Research, 50(3), 775-810.
Rhee, C. S., Woo, S., & Kim, D. H. (2020). The effect of female employment on corporate sustainability in terms of tax avoidance. Sustainability, 12(140), 1-15.
Richardson, G., Taylor, G., & Lanis, R. (2013). The impact of board of director oversight characteristics on corporate tax aggressiveness: an empirical analysis. Journal of Accounting and Public Policy, 32(3), 68-88.
Riguen, R., Salhi, B., & Jarboui, A. (2020). Do women in board represent less corporate tax avoidance? A moderation analysis. International Journal of Sociology and Social Policy, 40(1/2), 114-132.
Rogers, P., & Ribeiro, K. C. S. (2006). Mecanismos de governança corporativa no Brasil: evidências do controle pelo mercado de capitais. Contextus – Revista Contemporânea de Economia e Gestão, 4(2), 17-28.
Rossetti, J. P., & Andrade, A. (2014). Governança corporativa: fundamentos, desenvolvimento e tendências. São Paulo: Atlas. São Paulo.
Ryandono, M. N. H., Ernayani, R., Atmojo, P., Susilowati, D., & Indriastuty, N. (2020). Factors influencing tax avoidance in Indonesia. Humanities & Social Sciences Reviews, 8(1), 366-372.
Santa, S. L. L., & Rezende, A. J. (2016). Corporate tax avoidance and firm value: from Brazil. Revista Contemporânea de Contabilidade, 13(30), 114-133.
Santos, L. M. S., Santos, M. I. C., & Leite Filho, P. A. M. (2022). A Influência da diversidade de gênero, no comitê de auditoria, na evidenciação de informações ambientais das empresas listadas na B3. Enfoque Reflexão Contábil, 41(1), 77-93.
Shi, W., Connelly, B. L., & Hoskisson, R. E. (2017). External corporate governance and financial fraud: cognitive evaluation theory insights on agency theory prescriptions. Strategic Management Journal, 38(6), 1268-1286.
Shin, I., & Park, S. (2019). The relation between product market competition and corporate tax avoidance: evidence from Korea. Investment Management and Financial Innovations, 16(2), 313-325.
Tang, T. Y. H. (2014). Does book-tax conformity deter opportunistic book and tax reporting? An international analysis. European Accounting Review, 24(3), 441-469.
Tang, T. Y. H., Mo, P. L. L., & Chan, K. H. (2017). Tax collector or tax avoider? An investigation of intergovernmental agency conflicts, The Accounting Review, 92(2), 247-270.
Vahdani, M., Najafabadi, A. T., Kermani, N. K., & Farhadi, Z. (2019). The role of corporate diversification in tax avoidance in companies listed in the tehran stock exchange. Humanities & Social Sciences Reviews, 7(1), 291-299.
Velte, P. (2017). The link between audit committees, corporate governance quality and firm performance: a literature review. Corporate Ownership & Control, 14(4), 15-31.
Wahab, E. A. A., Ariff, A. M., Markuzi, M. M., & Sanusi, Z. M. (2017). Political connections, corporate governance, and tax aggressiveness in Malaysia. Asian Review of Accounting, 25(3), 424-451.
Walsh, J. P., & Seward, J. K. (1990). On the efficiency of internal and external corporate control mechanisms. Academy of Management Review, 15(3), 421-458.
Yuniarwati, Y., Ardana, I. C., Dewi, S. P., & Lin, C. (2017). Factors that influence tax avoidance in Indonesia Stock Exchange. Chinese Business Review, 16(10), 510-517.
Zeng, T. (2019). Country-level governance, accounting standards, and tax avoidance: a cross-country study. Asian Review of Accounting, 27(3), 401-424.
Publicado
2025-01-15
Como Citar
Teodósio, I. R. M., Sobreira, K. R., Medeiros, J. T., & De Luca, M. M. M. (2025). Mecanismos externos de controle da gestão e tax avoidance: evidências de empresas no Brasil. Enfoque: Reflexão Contábil, 44(1), 20-38. https://doi.org/10.4025/enfoque.v44i1.65388
Seção
Artigos Originais
DECLARAÇÃO DE ORIGINALIDADE E DIREITOS AUTORAIS
Declaro que o presente artigo é original, não tendo sido submetido à publicação em qualquer outro periódico nacional ou internacional, quer seja em parte ou em sua totalidade.
Os direitos autorais pertencem exclusivamente aos autores. Os direitos de licenciamento utilizados pelo periódico é a licença Creative Commons Attribution 3.0 (CC BY 3.0): são permitidos o acompartilhamento (cópia e distribuição do material em qualqer meio ou formato) e adaptação (remix, transformação e criação de material a partir do conteúdo assim licenciado para quaisquer fins, inclusive comerciais.
Recomenda-se a leitura desse link para maiores informações sobre o tema: fornecimento de créditos e referências de forma correta, entre outros detalhes cruciais para uso adequado do material licenciado.
