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The purpose of the article is to represent a key role of the choice of business strategy combined with the greatest profitability, transparency, social orientation, which ultimately manifests itself in the amount of taxes paid. The taxes paid by enterprises in the formation of the state budget and economic development of the country. These funds are used to finance a variety of government programs and services, such as education, health, infrastructure and social protection. The question is especially significant for Ukraine in terms of financing military expenditures. The amount of taxes paid is a critical factor that businesses considers developing strategies to achieve financial stability and growth. Operating a business akin to Schumpeter's concept of entrepreneurship, characterized by risk-taking, simultaneously contributes to societal benefit by generating higher tax revenues. However, while this thesis holds true for American markets, it doesn't necessarily apply to European markets. The research method of comparative analysis of the US market, which represents the Anglo-Saxon model of corporations, and the Finnish market, which represents the continental model, is used. Companies are recognized as the largest tax payers among analysing corporations. The methodological basis of the study is the application of the Fama-French 5-factor model and an alternative based on Axelrod competition, which is a typical illustration of game theory. A range of Python packages is used. The obtained results confirm the hypothesis regarding the determinability of the chosen business strategy for the agreed tax burden. The specifics of the analyzed markets are noted. It is noted that employing market analysis to understand the fundamentals of market leader behavior represents a viable approach in contemporary economic analysis. The originality of the research lies in the demonstration that the adopted business strategy dictates the level of transparency within a considerable number of cases, thereby exerting a notable influence on taxation levels. The suitability of utilizing the Fama-French model for delineating business strategies has been affirmed. In instances where such a statistical model isn't applicable, employing the Axelrod tournament model is proposed.
Tunytsya et al. (Thu,) studied this question.