Tributação e sua relação com os resultados financeiros das empresas

Abstract

This work studies the relationship between corporate taxation and its financial results. Taxation is present in the financial management of companies and with that , it is necessary to understand the role of taxes in relation to other financial indicators, since companies try to maximize the capital allocation structure. The correlation between taxes and the other financial indicators presented is established, from a linear regression using the Ordinary Least Squares model, analyzing the annual data of net revenue, costs, gross profit, net profit, EBIT, taxes and gross debt, among the years 2009 to 2020, being selected forty-seven publicly traded companies present in the Bovespa index in the year 2021. The association between taxes and net income resulted in a high relationship between the variables, indicating that this high relationship can generate a result negative impact on GDP per capita growth and on economic growth. It was also analyzed that the taxes had a high participation in the relation with the other variables, evidencing the importance of the taxation in front of the financial results of the companies. The work contributes to the literature that relates the taxation of firms to economic growth, and also to the literature that involves the theory of trade off. In addition, it contributes to the analysis of a probable tendency of relationship between the payment of taxes and the decision in the allocation of capital (level of indebtedness) of the companies.