臺灣博碩士論文加值系統

租稅成本是企業的重要成本之一，租稅負擔的大小可能影響著公司與股東的現金流量，故企業如何管理稅賦成本及降低稅務風險，已成為企業經營決策的重要考量之一，因此形成企業透過稅務策略以減少該項成本的動機。近年來有許多文獻探討可能影響公司稅務策略的因素，如家族企業、私募股權、機構投資人持股比率、經理人的酬勞計畫等等。

本研究旨在探討臺灣上市櫃公司採行激進稅務策略的決定因素，例如公司所有權結構、機構投資人持股比例、經理人的酬勞計畫等等，其中激進稅務報導之代理變數，以財稅差異(BTD)及財稅差異之永久性差異(PERDIFF)來衡量。本研究之實證結果發現家族企業，或公司私募股權，其經理人較可能會採行激進稅務策略。此外，機構投資人之持股比率越高，則會降低經理人進行激進稅務策略的意願。

The taxes burden may affect the cash flows of firms and shareholders. How to manage tax costs and reduce tax risk has become important considerations for firms’ business decisions. So firms would reduce the costs through the tax strategies.

Recent literatures indicate family-owned company, private equity and management compensation plan would affect firms’ tax strategies. This study investigates the determinants of tax aggressiveness strategies for listed firms in Taiwan. I use book-tax difference (BTD) and the permanent difference of book-tax difference (PERDIFF) as the proxy for tax reporting. Empirical results show that family-owned company, and private equity company, then their managers are likely to employ aggressive tax strategies to reduce taxes burden. Furthermore, the institutional ownership is higher, then their managers are less likely to employ aggressive tax strategies to reduce taxes burden.

中文摘要 i
英文摘要 ii
謝辭 iii
目錄 iv
表目錄 v
圖目錄 vi
第一章、前言 01
第一節 研究背景與動機 01
第二節 研究目的 03
第三節 研究架構 04
第二章、文獻回顧 06
第一節 財務會計所得與課稅所得差異 06
第二節 產生財稅差異之原因 07
第三節 探討企業稅務策略之相關文獻 11
第四節 探討財稅應否一致之文獻 19
第五節 課稅所得推估之相關文獻 20
第三章、研究設計 22
第一節 研究假說 22
第二節 實證模型與變數衡量 24
第四章、實證結果與分析 31
第一節 樣本選取 31
第二節 敘述性統計與相關係數分析 32
第三節 實證結果 37
第五章、結論與建議 43
第一節 研究結果 43
第二節 研究限制與建議 44
參考文獻 45

英文部分
Ali, A., & Hwang, L. S. 2000. Country-specific factors related to financial reporting and the relevance of accounting data. Journal of Accounting Research, 38(1): 1-21.
Ayers, B. C., Jiang, J. X., & Laplante, S. K. 2009. Taxable income as a performance measure: The effects of tax planning and earnings quality. Contemporary Accounting Research, 26 (1): 15-54.
Badertscher, B., Katz, S. P., & Rego, S. O. 2011. The impact of private equity ownership on portfolio firms’ corporate tax avoidance. Working paper, University of Notre Dame.
Ball, R., Kothari, S. P., & Robin, A. 2000. The effect of institutional factors on properties of accounting earnings. Journal of Accounting and Economics, 29(2): 1-51.
Bauman, C. C., Bauman, M. P., & Halsey, R. F. 2001. Do firms use the deferred tax asset valuation allowance to manage earnings?, The Journal of The American Taxation Association, 23(Supplement): 27-48.
Burgstahler, D., & Dichev, I. 1997. Earnings management to avoid earnings decreases and losses. Journal of Accounting and Economics, 24(1): 99-126.
Bushee, B. 1998. The influence of institutional investors on myopic R&D investment behavior. The Accounting Review, 73(3): 305-333.
Chen, S., Chen, X., Cheng, Q., & Shevlin, T. 2010. Are family firms more tax aggressive than non-family firms? Journal of Financial and Economics, 95(1): 41-61.
Cloyed, B. 1995. The effects of financial accounting conformity on recommendations of tax preparers. The Journal of the American Taxation Association, 17(2): 50-70.
Comprix, J., Graham, R., & More, J. 2010. Empirical evidence on the impact of book-tax differences on information asymmetry. Working paper, Syracuse University.
Dechow, P. M. 1994. Accounting earnings and cash flows as measures of firm performance: The role of accounting accruals. Journal of Accounting and Economics, 18(1): 3-42.
Degeorge, F., Patel, J. & Zeckhauser, R. 1999. Earnings management to exceed thresholds. Journal of Business, 72(1): 1-33.
Del Guercio, D. 1996. The distorting effect of the prudent-man laws on institutional equity investment. Journal of Financial Economics, 40(1): 31-62.
Desai, M. A. 2002. The corporate profit base, tax sheltering activity, and the changing nature of employee compensation. Working paper, NBER.
Desai, M. A. 2005. The degradation of reported corporate profits. Journal of Economic Perspectives, 19(4): 171-192.
Desai, M. A., & Dharmapala, D. 2006. Corporate tax avoidance and high powered incentives. Journal of Financial Economics, 79(1): 145-179.
Desai, M. A., & Dharmapala, D. 2008. Taxation and corporate governance: An economic approach. Tax and Corporate Governance, 3(1): 13-30.
Dhaliwal, D. S, Gleason, C. A., & Mills, L. F. 2004. Last-chance earnings management : using the tax expense to meet analysts’ forecasts. Contemporary Accounting Research, 21(2): 431-459.
Dhaliwal, D. S., Huang, S. X., Moser, W. J., & Pereira, R. 2011. Corporate tax avoidance and the level and valuation of firm cash holdings. 2011 American Accounting Association Annual Meeting.
Dyreng, S. D., Hanlon, M., & Maydew, E. L. 2010. The effects of executives on corporate tax avoidance. The Accounting Review, 85(4): 1163-1189.
Frank, M. M., & Rego, S. O. 2006. Do managers use the valuation allowance account to manage earnings around certain earnings targets? Journal of the American Taxation Association, 28(1): 43-65.
Frank, M. M., Lynch, L. J., & Rego, S. O. 2006. Does aggressive financial reporting accompany aggressive tax reporting (and vice versa)? Working paper, University of Virginia.
Frank, M. M., Lynch, L. J, & Rego, S. O. 2009. Tax reporting aggressiveness and its relation to aggressive financial reporting. The Accounting Review, 84(2): 467-496.
Gaertner, F. B. 2011. CEO after-tax compensation incentives and corporate tax avoidance. Working paper, Nanyang Technological University.
Graham, J. R., & Tucker, A. L. 2006. Tax shelters and corporate debt policy. Journal of Financial Economics, 81(3): 563-594.
Guenther, D. A., Maydew, E. L., & Nutter, S. E. 1997. Financial reporting, tax costs, and book-tax conformity. Journal of Accounting and Economics, 23(3): 225-248.
Guenther, D., & Young, D. 2000. The association between financial accounting measures and real economic activity: A multinational study. Journal of Accounting and Economics, 29(1): 53-72.
Gupta, S., & Newberry, K. 1997. Determinants of the variability in corporate effective tax rates: Evidence from longitudinal data. Journal of Accounting and Public Policy, 16(1): 1-34.
Hanlon, M. 2005. The persistence and pricing of earnings, accruals, and cash flows when firms have large book-tax differences. The Accounting Review, 80(1): 137-166.
Hanlon, M. & Krishnan, G. V. 2005. Do auditors use the information reflected in book-tax differences? Working paper, Ross school of Business.
Hanlon, M., Laplante, S. K., & Shevlin, T. 2005. Evidence for the possible information loss of conforming book income and taxable income. Journal of Law and Economics, 48(2): 407-442.
Hanlon, M., Maydew, E., & Shevlin, T. 2006. Book-tax conformity and the information content of earnings. Working paper, Ross School of Business.
Hanlon, M., Mills, L., & Slemrod, J. 2007. An empirical examination of corporate tax noncompliance. In Taxing Corporate Income in the 21st Century, edited by A. Auerbach, J. R. Hines, Jr., and J. Slemrod. Cambridge, U.K.: Cambridge University Press.
Heltzer, W. 2009. Conservatism and book-tax differences. Journal of Accounting, Auditing and Finance, 24(3): 469-504.
Joos, P., Pratt, J., & Young, D. 2000. Book-tax differences and the value relevance of earnings. Working paper, Massachusetts Institute of Technology.
Joos, P., Pratt, J., & Young, D. 2002. Using deferred taxes to infer the quality of accruals. Working paper, Massachusetts Institute of Technology, Cambridge, MA.
Joos, P., Pratt, J., & Young, D. 2003. Using deferred taxes to detect earnings management: Further evidence. Working paper, Massachusetts Institute of Technology.
Lee, T. S. & Yeh, Y. H. 2004. Corporate governance and financial distress: Evidence from Taiwan. Corporate Governance: An International Review, 12(3): 378-388.
Lev, B., & Nissim, D. 2004. Tax income, future earnings and equity values. The Accounting Review, 79(4): 1039-1074.
Lisowski, P., 2010. Seeking shelter. Empirically modeling tax shelters using financial statement information. The Accounting Review, 85: 1693-1720.
Manzon, G. B., & Robert, S. W. 1994. The effect of the economic recovery tax act of 1981 and the tax reform act of 1986 on the distribution of effective tax rates. Journal of Accounting and Public Policy, 13(4): 349-362.
Manzon, G. B., & Plesko, G. A. 2002. The relation between financial and tax reporting measures of income. Tax Law Review, 55(2): 175-214.
Miller, G. S., & Skinner, D. J. 1998. Determinants of the valuation allowance for deferred tax assets under SFAS No. 109. The Accounting Review, 73(2): 213-233.
Mills, L. F. 1998. Book-tax differences and internal revenue service adjustments. Journal of Accounting Research, 36(2): 343-356.
Mills, L. F., & Newberry, K. J. 2001. The influence of tax and nontax costs on book-tax reporting differences: Public and private firms. The Journal of the American Taxation Association, 23(1): 1-19.
Mills, L. F., Newberry, K. J., & Trautman, W. 2002. Trends in book-tax income and balance sheet differences. Tax Notes, 96(8): 1109-1124.
Nelson, M. W., Elliott, J. A., & Tarpley, R. L. 2003. How are earnings managed? Examples from auditors. Accounting Horizons, 17(Supplement): 17-35.
Phillips, J. 2003. Corporate tax-planning effectiveness: The role of compensation - based incentives. The Accounting Review, 78(3): 847-874.
Phillips, J., Pincus, M., & Rego, S. O. 2003. Earnings management: new evidence based on deferred tax expense, The Accounting Review, 78(2): 491-521.
Phillips, J., Pincus, M., & Rego, S. O. 2004. Decomposing changes in deferred tax assets and liabilities to isolate earnings management activities. The Journal of the American Taxation Association, 26: 43-66.
Plesko, G. A. 2000. Book-tax differences and the measurement of corporate income. In Proceedings of the Ninety-Second Annual Conference on Taxation,1999. Washington DC: National Tax Association: 171-176.
Plesko, G. A. 2002. Reconciling corporation book and tax net income, Tax years 1996-1998. SOI Bulletin, Washington DC: Internal Revenue Service: 111-132.
Plesko, G. A. 2007.Estimates of the magnitude of financial and tax reporting conflicts. Working paper, NBER.
Rego, S. O. 2003. Tax-avoidance activities of U.S. multinational corporations. Contemporary Accounting Research, 20(4): 805-833.
Rego, S. O., & Wilson, R. 2012. Equity risk incentives and corporate tax aggressiveness. Journal of Accounting Research, 50(3): 775-809.
Revsine, L., Collins, D. W., & Johson, W. B., 2005. Financial reporting and analysis. Third edition. Upper Saddle River, NJ : Pearson/Prentice Hall.
Scholes, M. S., Wolfson, M. A., Erickson, M. M., Maydew, E. L., & Shevlin, T. J. 2008. Taxes and business strategy: A planning approach (4 edition). Publisher: Prentice Hall.
Seidman, J. 2010. Interpreting the book-tax income gap as earnings management or tax sheltering. Working paper, The University of Texas at Austin.
Shevlin, T. 1990. Estimating corporate marginal tax rates with asymmetric tax treatment of gains and losses. Journal of the American Taxation Association, 11(1): 51-67.
Shevlin, T. & Porter, S. 1992. The corporate tax comeback in 1987: Some further evidence. Journal of the American Taxation Association, 14(1): 58-79.
Slemrod, J. 2004. The economics of corporate tax selfishness. National Tax Journal, 57(4): 877-899.
Stickney, C. P., & McGee, V. E. 1982. Effective corporate tax rates - The effect of size, capital intensity, leverage and other factors. Journal of Accounting and Public Policy, 1(2): 125-152.
Tang, T., & Firth, M. 2011. Can book-tax differences capture earnings management and tax management? Empirical evidence from China. The International Journal of Accounting, 46(2): 175-204.
Visvanathan, G. 1998. Deferred tax valuation allowances and earnings management. Journal of Financial Statement Analysis, 3(4): 6-15.
Watt, R. L. 2003. Conservatism in accounting Part I: Explanations and implications. Accounting Horizons, 17(3): 207-221.
Watt, R. L. 2003. Conservatism in accounting Part II: Evidence and research opportunities. Accounting Horizons, 17(4): 287-301.
Weisman, S. R. 2002. The great tax wars: Lincoln to Wilson- the fierce battles over money and power that transformed the nation. Publisher: Simon and Schuster.
Wilson, R. J. 2009. An examination of corporate tax shelter participants. The Accounting Review, 84(3): 969-999.
Yin, G. K. 2001. Getting serious about corporate tax shelters: Taking a lesson from history. Working paper, Government of the United States of America – House of Representatives.

 
中文部分
余智蓉，2004，遞延所得稅費用與盈餘管理關係之研究，國立台灣大學會計學研究所碩士論文。
吳清在及林松宏，2003，遞延所得稅資產備抵評價之決定因素及價值攸關性:台灣上市公司之實證研究，中華會計學刊，第3卷第2期: 201-236。
呂忠穎，2006，淨遞延所得稅負債與盈餘管理之關聯性研究，私立銘傳大學會計學系碩士班碩士論文。
李淑雯，2005，遞延所得稅費用與盈餘管理之關聯性研究，私立銘傳大學會計學系碩士班碩士論文。
林嬌能，2007，帳面-課稅所得差異與盈餘管理之相關性，國立成功大學會計學系碩博士班博士論文。
林嬌能及王萬成，2007，所得稅費用盈餘管理之市場反應，中山管理評論，第十5卷第3期: 547-578。
柯承恩，2000，我國公司監理體系之問題與改進建議（上），會計研究月刊，第173期: 75-81。
徐瑩杰，2006，財稅差異與管理階層獎酬之探討，國立政治大學會計研究所碩士論文。
財政部，2006，「所得稅基本條例疑義解答」。
財團法人中華民國會計研究發展基金會，2005，財務會計準則公報第二十二號:所得稅之會計處理準則，最新修訂版。
張婉煜，2008，租稅對財務報表穩健影響之研究:理論與實務，國立成功大學會計學研究所碩博士班碩士論文。
張敏蕾及黃德芬，2007，遞延所得稅費用策略性調控與公司盈餘管理行為，當代會計，第8卷第2期: 181-207。
張敏蕾、廖四郎及林修平，2009，財稅差異與盈餘管理之關連性研究，管理學報，第26卷第4期: 394-415。
陳依依，1999，遞延所得稅資產評價之實證研究，國立中正大學會計學研究所碩士論文。
陳明進，2009，財務報表資料推估課稅所得之研究，管理學報，第26卷第6期: 625-636。
陳明進及蔡麗雯，2006，財稅所得差異決定因素及課稅所得推估之研究，管理學報，第23卷第6期: 739-763。
陳明進、林世銘及張天勳，2001，證券及土地交易所得免稅對我國公司有效稅率之影響，中華會計學刊，第二卷: 33-56。
黃美祝，2010，財稅差異金額大小對國稅局選案查核之影響，會計評論，第50期: 23-25。
黃美祝及楊佩璇，2011，集團企業與非集團企業避稅程度之比較，會計學報，第4卷第1期: 1-22。
楊秉芳，2006，我國上市(櫃)公司財稅差異與企業評價之研究，國立政治大學會計研究所碩士論文。
劉啟群、林世銘及黃德芬，2001，台灣上市公司有效稅率決定因素之研究，中華會計學刊，第二卷: 57-84。
蔡素幸，1993，臺灣上市公司規模與有效稅率關係之實証研究－實徵會計理論政治成本假設之探討，國立中山大學企業管理研究所碩士論文。
羅文振，2006，財稅差異重大公司盈餘及其組成因子持續性與評價意涵之研究，國立成功大學會計學系碩博士班碩士論文。