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Purpose: The present study sought to investigate whether tax management influences the cost of equity of Brazilian companies listed in Brazil, Methodology: The study included the analysis of the Proxie Book-Tax Differences (BTD) as a tool for identifying tax management, as suggested in the work of Moreira e Silva (2019), as well as the control variables, which are the return on equity (ROE), market value (QTOBIN), company size (LNAT) and company financial leverage (ALV). For data collection, the Bloomberg® database and the Reference Form available on the B3 website were used. For that, it was used the Multiple Linear Regression of the data type in balanced panel, resulting in a final sample formed by 630 observations. Results: Through the BTD proxie, referring to the difference between accounting profit and tax profit, and used to capture tax management in this research, it was not possible to identify any relationship with the cost of equity. Thus, for the purposes of this research, the theoretical adequacy and the statistical models used did not show that good tax management practices have a positive or negative effect on the cost of equity. Contributions of the Study: It is observed that Brazilian studies did not analyze the effect of tax management on the cost of equity in Brazilian companies using the Book-Tax Differences (BTD) indicator as a tool for identifying tax management and its influence on the cost of capital. So, this research followed the recommendation suggested by Moreira e Silva (2019), to analyze this cost with another indicator, in this case, Book-Tax Differences (BTD). According to the results, it was not possible to identify any relationship with the cost of equity, thus contributing to the consolidation of the findings by Goh et al. (2016) and Moreira e Silva (2019) who present CashETR as the best metric for tax management, given that the results presented using the variables ETR and BTD, demonstrated that the cost of capital required by investors was unrelated to the fiscal aggressiveness of companies. Bolsa e Balcão (B3) in the period from 2014 to 2018. [ABSTRACT FROM AUTHOR]

Copyright of RAIMED: Revista de Administração IMED is the property of RAIMED: Revista de Administracao IMED and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

Copyright of Brazilian Business Law Journal / Administração de Empresas em Revista is the property of Administracao de Empresas em Revista and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

Copyright of RACE- Revista de Administraçâo, Contabilidade e Economia is the property of Revista de Administracao, Contabeis e Economia-RACE and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

Copyright of Brazilian Business Law Journal / Administração de Empresas em Revista is the property of Administracao de Empresas em Revista and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

Neste artigo, a teoria de cópulas é utilizada para analisar os co-movimentos entre os mercados de capitais do Brasil e dos EUA. Na finalidade de implementação de uma estratégia de alocação de ativos é importante entender os eventos extremos - tanto os positivos (boom) como os negativos (crashes) - e seus efeitos sobre os mercados. Os índices de mercado usados são o IBOVESPA e o S&P 500 cobrindo o período de 03/2001 a 04/2007. A aderência aos log-retornos das principais cópulas encontradas na literatura financeira é avaliada. Os seguintes critérios foram escolhidos: o Log-likelihod, o critério de informação de Akaike e o critério de informação bayesiano. Os resultados mostram que a cópula de Joe-Clayton simetrizada é a mais adequada para modelar a estrutura de dependência entre os log-retornos do IBOVESPA e os do S&P500. Este trabalho difere de alguns estudos já realizados [e.g. Mendes e Moretti(2005) e Canela e Collazo(2005)], pois leva em consideração a modelagem de cópulas dinâmicas introduzida por Patton (2006). Finalmente, através dos índices de dependência caudal ao longo do tempo, pode-se concluir que a ocorrência de eventos extremos negativos (crashes) no mercado norte-americano tende a afetar mais o mercado brasileiro quando da comparação da ocorrência dos eventos extremos positivos (booms). [ABSTRACT FROM AUTHOR]