CUSTOS DE REPUTAÇÃO DA EVASÃO FISCAL DE INSTITUIÇÕES FINANCEIRAS

Autores

  • Rogiene Batista dos Santos Fundação Getulio Vargas
  • Amaury José Rezende Universidade de São Paulo
  • Fernando Pigeard de Almeida Prado Universidade de São Paulo

Palavras-chave:

Evasão Fiscal, Instituições Financeiras, Custo Reputacional, Período de Protesto

Resumo

Este artigo empiricamente investiga se as instituições financeiras enfrentam custos de reputação pela prática de evasão fiscal, especialmente durante o período de protesto.  Por esta razão, utilizou-se uma amostra de 20.129 observações de empresa/anos de firmas financeiras públicas dos E.U.A. obtidas de Compustat, Capital IQ, CRSP e I/B/E/S. Utilizou-se duas medidas de evasão fiscal: GAAP ETR e CASH ETR. Como indicadores para custos de reputação, utilizou-se retorno anormal acumulado das ações, recomendações de analistas, e classificação de crédito.  Os resultados confirmam ambas as hipóteses afirmando que as instituições financeiras possuem custos de reputação ao praticarem evasão fiscal, e durante os períodos de protesto, estes custos são mais altos. Os resultados mostram que as instituições financeiras que praticam evasão fiscal sofrem um impacto negativo de 11,18% em seu retorno anormal acumulado das ações. Também descobriu-se que a evasão fiscal afeta negativamente as recomendações dos analistas em 2,5%, e durante o período de protesto, este efeito é de 5,9%.  Além disso, os resultados do teste de sensibilidade com regressão quantílica indica que um nível mais alto de evasão fiscal está associado com custos de reputação mais altos.   Esta pesquisa contribui tanto com a literatura de evasão fiscal quanto para a literatura sobre instituições financeiras, especialmente no que diz respeito aos custos de reputação de evasão fiscal para instituições financeiras.  Este é um dos primeiros estudos a empiricamente investigar os custos de reputação de instituições financeiras ao praticar evasão fiscal.

Biografia do Autor

Rogiene Batista dos Santos, Fundação Getulio Vargas

Professora na Fundação Getúlio Vargas, Av. 9 de julho, 2029, Bela Vista, São Paulo, SP – Brasil, : telefone: +55(11)3799-7758, e-mail: rogiene.santos@fgv.br. ORCID: https://orcid.org/0000-0003-3694-4727

Amaury José Rezende, Universidade de São Paulo

Professor na Universidade de São Paulo, Avenida Bandeirantes, 3900, Monte Alegre, Ribeirão Preto, SP – Brasil, telefone: +55 (16) 3315-0503, e-mail: amauryj@usp.br. ORCID: https://orcid.org/0000-0003-3057-6097

Fernando Pigeard de Almeida Prado, Universidade de São Paulo

Professor na Universidade de São Paulo, Avenida Bandeirantes, 3900, Monte Alegre, Ribeirão Preto, SP – Brasil, telefone: +55 (16) 3315-4663, e-mail: pigeard@ffclrp.usp.br

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Publicado

2023-12-24

Como Citar

BATISTA DOS SANTOS, R.; REZENDE, A. J.; PRADO, F. P. de A. CUSTOS DE REPUTAÇÃO DA EVASÃO FISCAL DE INSTITUIÇÕES FINANCEIRAS. Contabilidade Vista & Revista, [S. l.], v. 34, n. 3, p. 189–213, 2023. Disponível em: https://revistas.face.ufmg.br/index.php/contabilidadevistaerevista/article/view/7651. Acesso em: 2 mar. 2024.