Business Strategy and Tax Aggressiveness in Brazil

29 Pages Posted: 10 Apr 2019

See all articles by Antonio Lopo Martinez

Antonio Lopo Martinez

University of Coimbra; University of Salamanca

Bruno Afonso Ferreira

Fucape Business School

Date Written: March 17, 2019


This study is designed to verify the strategic types and the relationship between prospector and defender companies and tax aggressiveness for Brazilian companies listed on the B3. To identify the type, following concepts from Miles and Snow (1978, 2003), we use five years of data. Excluding financial companies, prospectors and defenders were identified, which were used later to verify the relation with tax aggressiveness. Most Brazilian companies are analyzers, with prospector companies being a minority, and defenders representing a little over 21%. Defender companies have a higher tendency to practice aggressive tax planning when compare to Analyzer and Prospector.

Keywords: Strategy, Prospector, Defender, Analyzer, Tax Aggressiveness

JEL Classification: M10, M40

Suggested Citation

Martinez, Antonio Lopo and Martinez, Antonio Lopo and Ferreira, Bruno Afonso, Business Strategy and Tax Aggressiveness in Brazil (March 17, 2019). Available at SSRN: or

Antonio Lopo Martinez (Contact Author)

University of Coimbra ( email )

University of Salamanca ( email )

Campus Miguel de Unamuno
Salamanca, Salamanca 23007

Bruno Afonso Ferreira

Fucape Business School ( email )


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