Résumé

This study analyses the impact of asset-light fee-oriented business models on the amount of tax fees paid to external auditors by hospitality firms. Using OLS and Tobit models on a sample composed of 293 firm-year observations over 2005-2018, results indicate a positive association between asset-light strategies and tax fees. This finding holds specifically for firms with high international presence and/or substantial growth. Additional analyses document that the positive association between asset-light strategies and tax fees is conditional on an improving financial performance measured with cash flows and earnings per share. A change analysis supports the main findings. Our results are relevant for managers and board members as they enhance our understanding of the consequences of asset-light strategies and international expansion in terms of business complexity and tax planning.

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