Made available in DSpace on 2016-03-15T19:32:44Z (GMT). No. of bitstreams: 1 Edimundo Dias de Oliveira.pdf: 1381678 bytes, checksum: 2bf3f35a312fcff1c3baf03df7d00e17 (MD5) Previous issue date: 2013-08-15 / Volunteer expenses with the Environment is becoming, every time more, regular action in various companies. Involvement and propagation practices, also policies aimed for corporate sustainability, can be considered common today, counting even with standard reports that provide some descriptive elements about these practices. There is, however, a gap in the scientific literature about the relevance of such participation spending on business structure. Many companies indicate in their reports the existence of social and environmental costs, but the real impact of these actions are unclear, beyond the supposed improvement of the institutional image. This exploratory, qualitative approach, aimed to verify if the level of corporate environmental spending is associated significantly with the tax benefits that they may have. The sample consisted of 35 companies of the Índice de Sustentabilidade Empresarial (ISE) of BM&F Bovespa . The techniques that were applied are the content analysis. The results showed that the average level of environmental expenses are higher than the tax benefits obtained, indicating that these companies used a combination of donations, sponsorships and investments, suggesting the existence of other factors beyond the tax benefits limits involved. / Gastos socioambientais voluntários se tornam, cada vez mais, ações regulares em várias empresas. Envolvimento e divulgação de práticas e políticas voltadas à sustentabilidade corporativa podem ser considerados comuns nos dias de hoje, contando com relatórios que oferecem alguns elementos descritivos sobre essas práticas. Existe, entretanto, uma lacuna na literatura científica sobre a relevância da participação de gastos dessa natureza na estrutura empresarial. Muitas empresas apontam em seus relatórios a existência de gastos socioambientais, porém o real impacto dessas ações ainda não são claras, além da suposta melhoria da imagem institucional. Este estudo exploratório, de abordagem qualitativa, objetivou verificar se o nível de gastos socioambientais das empresas está associado, significativamente, com os benefícios fiscais que as mesmas possam obter. A amostra foi formada por 35 empresas integrantes do índice de Sustentabilidade Empresarial (ISE) da BM&F Bovespa. Aplicaram-se técnicas de análise de conteúdo. Os resultados obtidos apontaram que o nível médio de gastos socioambientais é superior aos benefícios fiscais obtidos, indicando que estas empresas utilizaram uma combinação entre doação, patrocínio e investimento, sugerindo a existência de outros fatores envolvidos além dos limites de benefícios fiscais.

Made available in DSpace on 2016-03-15T19:32:50Z (GMT). No. of bitstreams: 1 Edimundo Dias de Oliveira.pdf: 1414354 bytes, checksum: 879ee9ac8e005082dac151cc4807ceae (MD5) Previous issue date: 2013-08-15 / Volunteer expenses with the Environment is becoming, every time more, regular action in various companies. Involvement and propagation practices, also policies aimed for corporate sustainability, can be considered common today, counting even with standard reports that provide some descriptive elements about these practices. There is, however, a gap in the scientific literature about the relevance of such participation spending on business structure. Many companies indicate in their reports the existence of social and environmental costs, but the real impact of these actions are unclear, beyond the supposed improvement of the institutional image. This exploratory, qualitative approach, aimed to verify if the level of corporate environmental spending is associated significantly with the tax benefits that they may have. The sample consisted of 35 companies of the Índice de Sustentabilidade Empresarial (ISE) of BM&F Bovespa . The techniques that were applied are the content analysis. The results showed that the average level of environmental expenses are higher than the tax benefits obtained, indicating that these companies used a combination of donations, sponsorships and investments, suggesting the existence of other factors beyond the tax benefits limits involved. / Gastos socioambientais voluntários se tornam, cada vez mais, ações regulares em várias empresas. Envolvimento e divulgação de práticas e políticas voltadas à sustentabilidade corporativa podem ser considerados comuns nos dias de hoje, contando com relatórios que oferecem alguns elementos descritivos sobre essas práticas. Existe, entretanto, uma lacuna na literatura científica sobre a relevância da participação de gastos dessa natureza na estrutura empresarial. Muitas empresas apontam em seus relatórios a existência de gastos socioambientais, porém o real impacto dessas ações ainda não são claras, além da suposta melhoria da imagem institucional. Este estudo exploratório, de abordagem qualitativa, objetivou verificar se o nível de gastos socioambientais das empresas está associado, significativamente, com os benefícios fiscais que as mesmas possam obter. A amostra foi formada por 35 empresas integrantes do índice de Sustentabilidade Empresarial (ISE) da BM&F Bovespa. Aplicaram-se técnicas de análise de conteúdo. Os resultados obtidos apontaram que o nível médio de gastos socioambientais é superior aos benefícios fiscais obtidos, indicando que estas empresas utilizaram uma combinação entre doação, patrocínio e investimento, sugerindo a existência de outros fatores envolvidos além dos limites de benefícios fiscais.

Orientadores: Sergio Luiz Monteiro Salles Filho, Carlos Americo Pacheco / Tese (doutorado) - Universidade Estadual de Campinas, Instituto de Geociencias / Made available in DSpace on 2018-08-04T03:23:36Z (GMT). No. of bitstreams: 1 Corder_SolangeMaria_D.pdf: 9001180 bytes, checksum: f1ca1adf3ce1a037f8b993a1f3d673ce (MD5) Previous issue date: 2004 / Resumo: O objetivo desta tese é analisar os limites e as perspectivas dos incentivos e instrumentos de financiamento à ciência, tecnologia e inovação no Brasil, no período recente. Abordar os aspectos financeiros dos investimentos à inovação é fundamental no atual contexto no qual a inovação assume um papel central nas estratégias competitivas de empresas e países. O Brasil conta com uma estrutura bancária de dimensões significativas, mas o crédito privado é um instrumento que pouco tem contribuído para o financiamento dos investimentos produtivos e inovativos por motivos como baixa demanda, cenário macroeconômico desfavorável e postura conservadora deste segmento do mercado para financiar investimentos em que as incertezas e os riscos são maiores que no mercado financeiro. O mercado de capitais brasileiro, por sua vez, tem baixa representatividade no volume de negociações reutilizadas na esfera financeira, também contribuindo pouco para a produção e para a inovação, em parte pelo pequeno número de empresas que participam deste mercado, em parte pelos problemas institucionais e regulatórios por ele apresentados. Inovações importantes vêm ocorrendo nestes mercados no nível internacional, mas elas não têm sido proveitosas, ao menos no Brasil, para ampliar o aporte de recursos em P&D&I. Apesar de crescente, o capital de risco, ainda tem baixa expressividade nos investimentos desta natureza. Por sua vez, o governo criou recentemente, diversos instrumentos de incentivo, mas estes não cobrem com a mesma intensidade todas as etapas envolvidas no processo de inovação. Ao mesmo tempo, o uso dos recursos vem sendo dificultado, ou por problemas de contingenciamento, ou pelas dificuldades de gestão destes recursos. Ampliar o alcance destes instrumentos para que a atividade de inovação e o desenvolvimento da P&D seja uma prática nas empresas dos mais diversos setores é desejável, inclusive para ocupar o espaço não coberto pelo mercado, devido à mencionada atitude conservadora dos investidores para incorporar ativos desta natureza em seus portafólios, mesmo com a emergência dos mercados secundários, da securitização de títulos, dos derivativos, e demais instrumentos que permitem segregar riscos ou ampliar a liquidez dos papéis negociados tornando-os mais aceitáveis nos mercados primários. As principais conclusões deste trabalho apontam para a insuficiência dos incentivos e instrumentos criados pelo governo e para a necessidade de um melhor aproveitamento, por parte das agências de fomento, das oportunidades do mercado, seja por meio do aumento na sua participação direta e indireta em mercados de risco, seja por meio da criação de novos conceitos de financiamento, seja pela intensificação dos mecanismos existentes. É desejável que haja uma maior cooperação entre FINEP e BNDES, pois suas ações são complementares ou até mesmo se sobrepõem. Desse modo seria conformada uma sólida base de finance e funding aos investimentos inovativos até hoje escassa no Brasil. O crescimento sustentado da economia é, porém, condição indispensável para que, também pelo lado da demanda, haja um maior estimulo no tocante às decisões de investir, criando-se assim um círculo virtuoso para o investimento produtivo e inovativo / Abstract: This thesis aims to ana1yze the limits and perspectives of the science, tecbnology and innovation financing mechanisms and incentives in Brazil over recent years. It is fundamental to address the innovation aspects of investments financing in the present context where innovation plays a key role in countries' and enterprises' competitive strategies. Brazil has a significant large banking structure, but private credit has been of little importance on financing productive and innovative investments for reasons such as low demand, unfavorable macro-economic scenery and the conservative posture of the Brazilian banking segmento The Brazilian capital market, in tum, is underdeveloped and brings modest contributions to innovation and production: on one hand because of the smalI number of enterprises participating on that market, on the other hand for the regulatory and institutional problems it presents. Important innovations have been occurring on these markets international wise but, at least on Brazil, they have not been effective as to increase to R&D&I. Althougb it presents a tendency of growth, venture capital still has low participation in this sort of investment. The govemment, in tum, has recently created some incentive mechanisms but they do not cover alI the innovation process phases with the same intensity. Furthermore, these resources are quite hard to tap, either by their decreasing amount due to reduced availability, or by the difficulties managing public resources under current mIes. Widening these mechanisms application is imperative so that R&D&I activities can become common practice of alI business sectors. These new mechanisms would fill the gap left by the resistance conservative markets that investors maintain to these risk assets, even with the emergence of secondary markets, of security bonds, of derivatives, and other mechanisms that enable them to segregate risks and increase the commercial papers liquidity, making them more acceptable on primary markets. The most important conclusions of this work reveal insufficient govemment incentives and the need for a better use of market opportunities by Funding Agencies. This goal may be achieved either by incentives to increase their role on risk markets, by new finance program concepts or by a more intense use of the existing mechanisms. It would be desirable a more cooperative attitude between FINEP and BNDES because they actions are complementary and overlap themselves. This way it would be laid solidfinance andfimding groundwork for innovative investments, stilI deficient in Brazil. Sustained economic growth is an indispensable condition so we have, also in terms of demand, a stimulus to investment decisions, permitting the creation of a "virtuous circle" to productive and innovative investment / Doutorado / Doutor em Política Científica e Tecnológica

Os incentivos fiscais concedidos pelos entes públicos às empresas nacionais suscitam cada vez mais o interesse de estudos aprofundados em relação a seu impacto dentro das organizações. Esta pesquisa tem como objetivo analisar os efeitos dos incentivos fiscais, especificamente, da desoneração da folha de pagamento instituída pelo Plano Brasil Maior do Governo Federal em 2011, no grau de alavancagem operacional de uma empresa start-up brasileira. A pesquisa foi realizada através de um estudo de caso em uma empresa start-up atuante no Brasil no setor de tecnologia desde 2011. As análises do estudo de caso confirmaram que há uma relação direta entre a desoneração da folha de pagamento e o grau de alavancagem operacional de uma empresa. A interpretação dos dados sugere que para uma melhor eficiência dos incentivos fiscais, estes devem alterar o comportamento dos custos e despesas fixas para variáveis, diminuindo assim a exposição ao risco operacional da empresa. / Tax incentives granted by public entities to domestic companies tend to raise more interest of extensive studies in relation to its impact within organizations. This research aims to analyze the effects of tax incentives, specifically, the payroll tax exemption established by the \"Plano Brasil Maior\" of the Brazilian Federal Government in 2011, on the degree of operating leverage of a Brazilian start-up company. The research was conducted through a case study of a start-up company operating in Brazil in the technology sector since 2011. The analysis of the case study confirmed that there is a direct relation between the payroll tax exemptions and the degree of operating leverage of a business. The interpretation of the case suggests that, for a more efficiency of the tax incentives, the incentive must directly modify the fixed and variable costs and therefore reducing the company\'s exposure to operational risk

The problem of low domestic savings is inherent in most Southern African Development Community (SADC) countries. This has motivated most of the SADC countries to institute policies that seek to attract foreign capital to cover the investment deficit that arises from low domestic savings rates. This study gives robust conclusions on the effectiveness of individual tax incentives commonly used by SADC countries in attracting foreign mobile capital. This study has broadened the dimensions research can take in analysing the contribution of tax incentives to Foreign Direct Investment (FDI) inflows into developing countries. In separating individual tax incentives mainly used in the SADC region the study gives a robust analysis on the impact of each tax incentive on FDI inflows into SADC countries. The tax incentives used in this study are: tax holidays, corporate income tax (CIT), reduced CIT in specific sectors and losses carried forward. The study also derives data indices for governance, infrastructure and economic policy variables which gives the study clean and reliable data for efficient regression results. These macroeconomic data derivations assist in giving the FDI attraction analysis more variables and well behaved data in drawing conclusions. Through an analysis and comparison of trends in FDI inflows and stock data in different African regions the study draws important conclusions on the impact of the socio-economic environment in FDI attraction. The study, in consultation with data from the period 2004 to 2013 separates the SADC countries into four panels based on resource richness. Panel 1 includes the resources-rich countries, Panel 2 the resources-poor countries, Panel 3 all SADC countries, except South Africa and Panel 4 all the SADC countries. Each of the estimate models in this study, use individual tax incentives variables to avoid the effects of collinearity between different tax incentives variables and to improve the predictive power of the panel data models. This study derived tax incentives data for individual SADC countries, from Ernst and Young’s worldwide tax data. Regular tax incentives in the SADC are derived from tax holidays, corporate income tax (CIT); losses carried forward and reduced CIT in specific sectors. This study seeks to achieve two major objectives: firstly, to establish the effectiveness of tax incentives in attracting FDI inflows into SADC countries, and, secondly, to establish other variables that influence FDI inflows into SADC countries. The study estimated four panels for SADC countries, separated according to resource richness. This was done because different types of FDI are dependent on the available resources in developing countries and thus factors that influence the FDI inflows differ according to resource richness. Resource-seeking FDI moves to resources-rich economies, market-seeking FDI goes to economies that have access to larger markets and efficiency-seeking and strategic-asset-seeking FDI move to economies that ensure efficient use of their capital resources. Thus, as expected, factors that attract FDI to countries in the separate panels differ in direction of causality and magnitude of impact. The study adopts a system Generalised Method of Moments (SYS GMM) methodology to address the problem of endogeneity associated with dynamic panel data models. The estimated results established that tax holidays positively explain FDI inflows in Panel 2. CIT was found to negatively affect FDI inflows into all SADC countries despite their particular category of resource-richness. Losses carried forward are insignificant in all panels and reduced CIT in specific sectors negatively influences FDI inflows in Panel 1 and surprisingly positively influences FDI inflows in Panel 2. The lagged FDI variable shows a positive relationship with current year FDI inflows. The governance index is significant and positively affects FDI inflows in panels 1, 3 and 4. Panel 2 shows a negative relationship between governance and FDI inflows. Market potential measured by GDP growth rate is insignificantly different from zero in all the four panels in the study and negatively signed, except in models A and C of Panel 2. The stock of infrastructure is significant and negatively signed in all the panels. The log natural resources variable though insignificant in some models, mainly, exhibit a significant and negative effect in most models of the study’s panel estimations. The trade openness variable is positively related to FDI inflows in Panel 1. Panel 2 show negative effects of trade openness to FDI inflows. Financial globalisation significantly impacts positive FDI inflows in all the four panels. The economic policy variable is insignificant in all the four panels of the study, except, in model B of Panel 1 where it is weakly significant at 10% level and negatively signed. The study concludes that tax incentives are important in FDI attraction in the SADC countries; therefore, an effective tax mix that ensures efficient use of tax incentives is important to ensure sustainable FDI inflows into the region. Good governance is important in the region for FDI inflows to increase. Increasing government rents from natural resources reduces FDI inflows in the SADC. Previous year flows of FDI are positively related to current year inflows, thus consistent FDI attraction policies in the SADC are important. Infrastructure in the SADC should be consistently improved to ensure suitability with the dynamic nature of foreign investment. Financial markets should be developed to ensure effective flow of capital and growth in economies through more investment. / Economics / D. Com.. (Economics)

各國政府經常運用諸如租稅獎勵、補助、低利融資等產業政策工具來促進產業發展，然而部分學者認為政府介入市場運作的結果，可能造成資源配置的扭曲，反而不具經濟效益，故呼籲政府應尊重市場運作機制。以台灣長期運用的租稅獎勵政策為例，有人認為台灣經濟奇蹟的背後，租稅獎勵扮演相當重要的角色，但也有人認為，租稅獎勵造成租稅不公平，而且降低產業競爭力。究竟租稅獎勵與產業發展的關係為何，租稅獎勵是否有助產業政策的發展，是一項值得吾人探討的議題。 為了深入瞭解這項議題，本文係以台灣實施經驗為例，分析台灣租稅獎勵的特色與產業發展過程，回顧研究租稅獎勵實施成效的文獻，並比較世界各國如新加坡、日本、韓國等國家運用租稅獎勵工具的情形，最後並對我國的產業租稅政策提出建議。本研究主要的發現為，無論就理論或實證的分析，租稅獎勵是否有助於台灣的產業發展，並無法獲得一致性答案；台灣目前所提供的租稅獎勵項目或優惠程度並不低於新加坡、韓國等貿易競爭國家或日、美等先進國家。就未來台灣整體產業租稅獎勵政策，本文的建議為，多善用其他非租稅獎勵工具，協助產業發展；持續進行租稅改革，合理化稅負環境；適度修正促進產業升級條例，強化租稅獎勵功能。 / In many countries the industrial policy instruments, such as low interest loan, grants and tax incentives are used to assist industrial development. However, some researchers argue that government intervention would always result in recourses distortion and economic inefficiency; and claim for respecting market mechanism. Taiwan’s government for a long period, for example, has provided tax incentives. Some people think that tax incentives play an important role in Taiwan’s economic miracle. But others think that tax incentives result in tax discrimination, and weakness industry’s competitive ability. Therefore, how does tax incentive influence industrial development is a controversial issue. With aims to know how does tax incentives influence industry, this paper takes Taiwan’s experience as an example, introduces the feature of Taiwan’s tax incentives and the process of industrial development. Furthermore, this paper surveys Taiwan’s researches on the effectiveness of tax incentives and compares tax incentives adopted by Singapore, Japan, Korea, and America. This paper also present suggestions to the policies of industries taxation base on the research findings. The main findings are that by theoretic or empirical study, we cannot find consentaneous answer for whether tax incentive is helpful for industrial development；and tax incentives provided by Taiwan government are no less than that by other countries. According to the research findings, we suggest that the government should utilize non-tax instruments more；the government should continue to accelerate tax reforms, and thereby to establish a fair and rational tax environment；and tax incentive is still important for some business activity such as R&D in the knowledge-based economy.

Mainland China has implemented two sets of income taxes systems for many years. One is for the foreign enterprise “1991 Promulgated Foreign Invested Enterprise and the Foreign Enterprise Income Tax Law” and another one to the domestic enterprise, “1993 promulgated Enterprise Income Tax Temporary Regulation”. The coexisted of two taxes not only resulted in unfair taxation but also created fake foreign enterprise phenomenon. It is especially difficult for people to accept this situation after China joined the World Trade Organization. The legislation conditions matured after speedy growth of Chinese economy. The Chinese government considered the current financial situation can withstand the impact on decrease in tax revenue after new tax law implemented and it met one of the current economic development targets of “nurture domestic enterprise”. On March 16, 2007, the “Enterprise Income Tax Law of the People's Republic of China” (here in after referred it as the New Law) was eventually approved after many years of research. It surely will have profound influence on foreign enterprise including the Taiwanese businessmen. The purpose of the study is how the major changes of the New Law impacts the China investment of the Taiwanese businessmen. The structure of the study, other than abstract and conclusion, firstly, the author will discuss of the content of system and policy changes. Next, based on the major changes of the New Law, how they affect designed research method. Analyze and forecast its possible impact and influence on Taiwanese businessmen in the following categories: (1) tax incentive; (2) organization structure organization, and (3) tax risk. Finally, the author will propose the related action taken and suggestions on the impact.

O presente trabalho visa compreender teórica e empiricamente como empreendimentos socioculturais, com sedes e iniciativas no Estado de São Paulo, captam os seus recursos financeiros, sob três aspectos principais: estratégia, estrutura e fontes de captação de recurso. Entende-se como empreendimentos socioculturais, aqui nomeados, as iniciativas que utilizam a cultura e a arte como ferramentas de transformação social, objetivando o acesso à cultura artística, bem como à formação educacional, por via das mesmas, de indivíduos que não poderiam vivenciá-las devido às suas condições sociodemográficas, socioeconômicas e/ou físico-intelectuais. Para isto, foram analisados seis empreendimentos socioculturais, são eles: BuZum Produções Artísticas; ImageMagica Organização Cultural da Sociedade Civil; Doutores da Alegria - arte na promoção da saúde, na formação e no desenvolvimento social; Ibirajá Produções Culturais; Companhia Pia Fraus de Teatro e Cia Vagalum Tum Tum de Teatro Infantil - todos ativos no estado de São Paulo. A pesquisa foi de natureza aplicada, exploratória e qualitativa, utilizando-se a estratégia de estudos de casos múltiplos. Com coleta de dados secundários, através de análise documental e de arquivos somada à coleta de dados primários, através de entrevista estrutura com questionário de perguntas abertas. Os resultados consolidados evidenciaram que não é possível traçar um modelo único para a captação de recursos de empreendimentos socioculturais, mas é possível traçar estratégias e estruturas, que podem ser replicadas, afim de se ter sucesso na obtenção de recursos, nas mais variadas fontes disponíveis. / This work aimed to understand theoretically and empirically as socio-cultural enterprises, with headquarters and initiatives located in the State of São Paulo, are seeking their financial resources. It is understood as socio-cultural enterprises, here named, the initiatives that uses culture and art as a tool of social transformation, objectifying the access to the artistic culture, as well as to the educational formation, aiming to attend individuals would not experience it, due to their socio-demographic, socioeconomic and/or physical-intellectual conditions. In this regard, six socio-cultural projects were analyzed; which are: BuZum Artistic Productions, ImageMagica civil society organization; Doctors of Joy; Ibirajá Cultural Production; Pia Fraus\' Company Theatre and Vagalum Tum Tum Children\'s Theatre Company - all assets in the State of São Paulo. The research was applied, exploratory and qualitative, using the strategy of multiple case studies. With secondary data collection, through documentary and file analysis added to the primary data collection, by structural interview with questionnaire with open questions. The consolidated results showed that it is not possible to trace a single model for the acquisition of resource for socio-cultural enterprises, but it is possible to replay strategies and structures to obtain success in the acquisition of resources.

O consenso entre os organismos internacionais de cooperação para o comércio e para o desenvolvimento econômico está em reconhecer na capacidade de inovar a principal fonte para a promoção da produtividade nas organizações. Parte do esforço brasileiro de construção e desenvolvimento de um sistema nacional de inovação constituiu-se na criação de programas de incentivos fiscais, como forma de fazer avançar os investimentos em Pesquisa, Desenvolvimento & Inovação - P&D&I, provocando o setor privado a participar mais intensamente do processo de financiamento do desenvolvimento tecnológico. Uma década após a implementação do principal programa de incentivo fiscal à inovação no Brasil (Lei nº 11.196/05), é mister verificar se tais incentivos foram capazes de atingir os seus objetivos. A presente tese visa a avaliar: (i) qual a repercussão sobre os dispêndios com P&D&I da opção pela utilização dos incentivos fiscais concedidos pela Lei do Bem e (ii) quanto da renúncia fiscal, ou seja, dos créditos recebidos pelas empresas participantes deste programa, retornou em termos de investimentos em P&D&I ao longo do tempo. A metodologia empregada, propõe a estimação de um modelo empírico para os dispêndios em P&D&I, em que estes são explicados ora pela opção da empresa por utilizar os incentivos fiscais da Lei do Bem ora pela renúncia fiscal decorrente da utilização do mesmo programa, além de um conjunto de variáveis de controle associado às restrições de financiamento. Os testes estatísticos foram conduzidos para o agregado das companhias de capital aberto, registradas na BM&FBOVESPA em 2013, relativamente a seus desempenhos no período de 2008 a 2013. Os resultados, para dados em painel dinâmico, foram obtidos a partir do modelo GMM-System e apontam que a decisão de utilizar os incentivos fiscais da Lei do Bem está associada a um aumento nos dispêndios com P&D&I, ao longo do tempo. Assim sendo, para cada ponto percentual de aumento na propensão das companhias em optar pelo uso da Lei do Bem espera-se de 0,65 a 0,85 pontos percentuais de aumento em seus dispêndios com P&D&I. Por outro lado, o aumento de um ponto percentual na renúncia fiscal gera uma expectativa de aumento nos dispêndios com P&D&I das companhias, que pode variar de 0,26 a 0,40 pontos percentuais, ao longo do tempo / The consensus among international cooperation agencies for trade and economic development lies in recognizing in the ability to innovate the main source for promoting productivity in organizations. The Brazilian effort of construction and development of a national innovation system constituted the creation of tax incentive programs as a way to advance investments in Research, Development & Innovation - R&D&I, causing the private sector to participate more intensely financing process of technological development. A decade after the implementation of major tax incentive program for innovation in Brazil (Law nº. 11.196/05), it is necessary to verify that such incentives were able to achieve their goals. The present thesis aims at evaluating: (i) the impact on R&D&I expenditures of the option to use the tax incentives granted by the \"Lei do Bem\" and (ii) how much of tax waiver, that is to say, of the credits received by companies participating in this program, has returned in terms of R&D&I investments over time. The methodology to be used proposes the estimation of an empirical model for R&D&I expenditure, which are explained either by the company\'s option to use tax incentives of the \"Lei do Bem\" or by tax credits obtained due to the use of tax incentives program, in addition to a set of control variables associated with financing constraints. The statistical tests were conducted to the group of publicly traded companies listed on the BM & FBOVESPA in 2013, for their performances in the period 2008 to 2013. The results for the dynamic panel data were obtained from the GMM-System model and indicate that the decision to use the \"Lei do Bem\" tax incentives is associated with an increase in R&D&I expenditures over time. So that for each percentage point of increase in the propensity of companies to opt for the use of the \"Lei do Bem\", 0.65 to 0.85 percentage points of increase in R&D&I expenditures is expected. On the other hand, the increase of one percentage point in the tax waiver generates an expectation of increase in the R&D&I expenses of the companies, which can vary from 0.26 to 0.40 percentage points, over time

Made available in DSpace on 2015-12-03T18:35:21Z (GMT). No. of bitstreams: 1 Rinaldo_Nery_dos_Santos.pdf: 1231300 bytes, checksum: 7357fd00be049ec703fb538640fe33c7 (MD5) Previous issue date: 2011-11-09 / In Brazil, the financial statements had been influenced by standards published by various government agencies (Central Bank, IBRACON, CFC, CVM, IRS, SUSEP among others) and from the publication of Law 11,638 of 2007, milestone for the process of convergence into the international financial reporting standards, that starts a homogeneous system of data presentation. This convergence process has contributed and has been improving the quality of financial statements, establishing a secure reading for investors, government, corporations and several users of accounting information, which is a major factor in the global business environment in the world nowadays. Given this context, the subject of this is to evaluate the financial statements of public companies that have as part of their strategies, tax management and operational-oriented investment in research and development (R&D) in Technological Innovation, therefore these companies could use the benefit of tax incentives for technological innovation. The study was based on a descriptive exploratory qualitative methodology by analyzing documents. For this, a documentary research was undertook in footnotes to financial statements published by Public Companies, listed on the CVM's website, as well as applying content analysis of tax rules and accounting practices. As a result, it was found the existence or adequacy to the requirements of accounting standards versus tax rules that match the tax incentives as a government grant. Therefore, is expected to contribute with input on the need for accounting standards and models of tax incentives, and create a basis for future studies / No Brasil, as demonstra????es cont??beis vinham sendo influenciadas por normas divulgadas por diversos ??rg??os governamentais (BACEN, IBRACON, CFC, CVM, Receita Federal, SUSEP entre outros) e, a partir da publica????o da Lei n?? 11.638 de 2007, marco hist??rico para o processo de converg??ncia dos padr??es cont??beis para as normas internacionais de contabilidade, iniciou-se um sistema homog??neo de apresenta????o de dados. Esse processo de converg??ncia tem contribu??do para a melhoria da qualidade das demonstra????es cont??beis, estabelecendo uma leitura segura para investidores, governo, corpora????es e diversos usu??rios das informa????es cont??beis, que ?? fator preponderante em um ambiente de neg??cios globalizado no mundo atual. Diante deste contexto, esta pesquisa tem como objetivo avaliar as demonstra????es cont??beis das companhias abertas que t??m como parte de suas estrat??gias a gest??o tribut??ria e operacional voltada para o investimento em Pesquisa e Desenvolvimento (P&D) em Inova????o Tecnol??gica e que por este motivo, puderam utilizar o beneficio dos Incentivos Fiscais de Inova????o Tecnol??gica. O estudo pautou-se na metodologia qualitativa explorat??ria descritiva por meio da an??lise documental. Para isto, foi empreendida uma pesquisa documental nas notas explicativas das demonstra????es cont??beis publicadas por companhias abertas, listadas no site da CVM, bem como an??lise de conte??do das normas tribut??rias e cont??beis vigentes. Como resultado, apurou-se a exist??ncia ou adequa????o aos requerimentos das normas cont??beis versus as normas tribut??rias que equiparam os Incentivos fiscais como uma subven????o Governamental. Assim, espera-se contribuir com subs??dios sobre a necessidade de normas e modelos de contabiliza????o dos incentivos fiscais, bem como criar uma base para estudos futuros