Fatores determinantes de book-tax differences nas empresas da cadeia produtiva do agronegócio

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Universidade Federal de Goiás


The objective of the present study is to verify the determining factors of book-tax differences (BTD) in companies in the agribusiness chain. In this way, the influence of internal characteristics of companies, of the agribusiness production chain (structural factor) and of tax expenditures (factor at country level) on BTD total, temporary (BTDT) and permanent (BTDP) was verified. As dependent variables, BTD, BTDP and BTDT were used. As independent variables, the links in the chain (upstream, core and downstream), profitability, change in fixed assets, sales variation, presence of biological assets, R&D investiment and liquidity were used as proxies for determinants. Data were extracted from the Thomson Reuters Eikon database and analyzed using panel data regression and hierarchical linear model (HLM). With the help of the NAICS classification, companies with shares on the stock exchange of eight countries in the period 2012 to 2020 were selected. The determining factors were analyzed considering the total and segmented sample according to the activity developed in the production chain. In companies with upstream activity, profitability, the pandemic period and tax expenditures can be considered as determining factors of BTD and BTDP. In the core, the change in fixed assets, sales growth, profitability, liquidity and tax expenditures were identified as determining factors for BTD and BTDP, while in companies with downstream activity, profitability, liquidity, debt and interaction between debt and biological assets were confirmed. As for BTDT, only the change in fixed assets and liquidity were considered determining factors in companies with upstream activities, while, in the core and downstream activities, only profitability. Considering the total sample, it was found that profitability, liquidity, debt, pandemic period, size, tax expenditures, presence of biological assets and the interaction between profitability and R&D are determining factors of BTD and BTDP in agribusiness. As for BTDT, sales growth, profitability, liquidity, debt, tax expenditures, investments in R&D and its interaction with profitability were revealed as determining factors. The multilevel analysis did not confirm the structural factors as determinants of BTD, BTDT and BTDP. The study contributes to the decision making of investors and makers of government policies focused on agribusiness.



PAPACOSTA, B. T. Fatores determinantes de book-tax differences nas empresas da cadeia produtiva do agronegócio. 2022. 120 f. Dissertação (Mestrado em Ciências Contábeis) - Universidade Federal de Goiás, Goiânia, 2022.