(3.80.6.131) 您好!臺灣時間:2021/05/14 03:02
字體大小: 字級放大   字級縮小   預設字形  
回查詢結果

詳目顯示:::

我願授權國圖
: 
twitterline
研究生:蔣文化
研究生(外文):Wen-HuaChiang
論文名稱:營利事業所得稅稅率調降之租稅效果
論文名稱(外文):The Tax Effect of Profit-Seeking Enterprise Income Tax Rate Reducing
指導教授:林松宏林松宏引用關係郭啟賢郭啟賢引用關係
指導教授(外文):Song-Horng LinSong-Horng Lin
學位類別:碩士
校院名稱:國立成功大學
系所名稱:財務金融研究所在職專班
學門:商業及管理學門
學類:財務金融學類
論文種類:學術論文
論文出版年:2013
畢業學年度:101
語文別:中文
論文頁數:88
中文關鍵詞:營利事業所得稅稅率調降公司價值盈餘管理
外文關鍵詞:Profit-Seeking Enterprise Income tax rate reductionFirm valueEarnings management
相關次數:
  • 被引用被引用:5
  • 點閱點閱:337
  • 評分評分:系統版面圖檔系統版面圖檔系統版面圖檔系統版面圖檔系統版面圖檔
  • 下載下載:0
  • 收藏至我的研究室書目清單書目收藏:1
長久以來,我國在不同的經濟發展階段,為期達到以租稅刺激經濟之目的,採行多樣租稅減免。這種長期性的稅基侵蝕情況,不但造成政府財政的失衡日愈嚴重,更引起租稅不公與所得分配惡化的情況。為改善此一現象,藉由調降稅率及促進產業升級條例的落日,營造健全合理及公平之稅制,進而促進產業發展。本研究主要係利用公司股價來探討稅率調降是否對不同條件下之公司價值產生不同影響,並分析稅率調降是否提供公司盈餘管理的誘因。
本研究實證結果如下:
一、稅率調降對獲利公司之價值而言,產生不利影響,惟如排除電子業樣本,則對獲利公司之價值有正面影響。
二、稅率調降對具有虧損扣抵或可減除暫時性差異之公司,因抵稅效果或可迴轉金額減少,造成公司價值的減少。
三、稅率調降造成前後年度租稅負擔不一致,進而產生公司盈餘管理的誘因,公司於稅率調降前年度以減少收入或增加費用的方式降低盈餘,而於稅率調降實施第一年以增加收入或減少費用的方式增加盈餘,以減輕整體租稅負擔。

To achieve the purpose of stimulating economic growth, Taiwanese government adopted various tax deduction and tax credit measure policies during different economic developing stages for a long period of time. However, these long-term tax exemptions have severely damaged tax revenues severely and deteriorated the fiscal balance. These tax policies has not only caused injustice among the tax payers but also exacerbated the income distribution among the people. To correct the worsened situation, Taiwanese government has adopted the Profit-Seeking Enterprise Income tax rate reducing policy and pushed the termination of Act for Upgrading Industries. It is expected that a more reasonable and more just tax system could be established as well as promoting industrial development through those supplemental acts.
In this study, stock prices were used to examine the impacts on company value under different conditions after the Profit-Seeking Enterprise Income tax rate reduction was adopted. The study further analyzed whether the tax rate reducing was an attractive motivator for company to do earnings management.
The above empirical results are summarized as follows,
1.Profit-Seeking Enterprise Income tax rate reduction has a significant negative impact on stock prices of the profiting company; if excluding the electronics industry, the impact on stock prices of the profiting company is significantly positive.
2.The Profit-Seeking Enterprise Income tax rate reduction has a significant negative impact on the stock prices of the companies with loss carry-forwards or with deductible temporary differences, for either the tax deductible effect or the rotatable amount is less.
3.The tax rate reduction has made the annual tax burdens to be inconsistent in two tax year. Therefore, it motived tax-induced earnings management within companies. Firms with incentives to shift recognition of revenues and expenses across years will reduce the overall tax burden by tax rate reduction.

第一章 緒論……………………………………………………………1
第一節 研究背景與動機 ……………………………………………1
第二節 研究貢獻………………………………………………………4
第三節 研究流程與論文架構…………………………………………5
第二章 文獻回顧 ……………………………………………………7
第一節 美國及我國稅制改革的介紹…………………………………7
第二節 遞延所得稅資產與公司價值之關聯性 ……………………14
第三節 租稅負擔與盈餘管理之關聯 ………………………………18
第三章 研究方法 ……………………………………………………21
第一節 研究假說 ……………………………………………………21
第二節 迴歸模型與變數定義 ………………………………………26
第三節 資料來源與樣本選取 ………………………………………38
第四章 實證結果與分析 ……………………………………………46
第一節 敘述性統計 …………………………………………………46
第二節 各變數的相關性分析 ………………………………………58
第三節 迴歸結果分析 ………………………………………………64
第四節 增額測試 ……………………………………………………74
第五章 結論與建議 …………………………………………………78
第一節 研究結論 ……………………………………………………78
第二節 研究限制 ……………………………………………………80
第三節 研究建議 ……………………………………………………81
參考文獻 ………………………………………………………………83
一、中文文獻
1.吳清在、林松宏,遞延所得稅資產備抵評價之決定因素及價值攸關性:臺灣上市公司之實證研究,中華會計學刊,第三卷第二期,第201-236頁,2003。
2.吳清在、林松宏,遞延所得稅資產備抵評價組成因子之研究,中華會計學刊,第六卷第一期,第29-58頁,2005。
3.汪瑞芝、陳明進,最低稅負制對股市反應之實證研究,臺大管理論叢,第215-247頁,2009年9月。
4.吳瑞源、林松宏、賴秀卿,最低稅負制隱稅效果之研究,當代會計,第十二卷第二期,第149-168頁,2011年11月。
5.林松宏,遞延所得稅評價之研究,國立成功大學會計學研究所博士論文,2004。
6.林娟慧,遞延所得稅資產備抵評價之資訊內涵及股價資訊性:台灣上市公司之實證研究,國立成功大學會計學研究所碩士論文,2004。
7.林全,做出一個經濟發展的大餅,載於江世芳主編稅制改革的公與義,臺北:財團法人時報文教基金會,第64頁,2006。
8.林松宏、呂政哲,遞延所得稅資產備抵評價是否具有損益平穩化與資訊傳遞效果,會計與公司治理,第四卷第二期,第45-79頁,2007。
9.林松宏、林坤霖,遞延所得稅組成因子價值攸關性之研究:盈餘管理控制觀點,證券市場發展,第二十卷第一期,第1-46頁,2008。
10.林松宏、吳瑞源,我國虧損扣抵遞轉價值攸關性之研究,會計評論,第四十八卷第一期,第115-157頁,2009。
11.孫克難,賦稅改革方案之整體評估,行政院賦稅改革委員會研究報告,2009。
12.高希均,雷根的經濟成績單,遠見雜誌,12月號,第20-21頁,1986。
13.陳明進、汪瑞芝,兩稅合一實施與營利事業盈餘管理之實證研究,財稅研究第三十七卷第六期,第1-18頁,2005年11月。
14.黃琬瑜,台灣高科技產業有效稅率之主要影響因素兩稅合一實施前後的比較,國立中央大學財務管理研究所碩士論文,2000。
15.黃瑞靜、徐守德、廖四郎,兩稅合一對公司價值、股利政策與資本結構之影響-動態資本結構模型之應用與臺灣產業的實證研究,管理評論,第二十卷第二期,第55-86頁,2001年4月。
16.趙揚清,美國『公平、簡化與經濟成長租稅改革』方案,財政部稅制委會,1995。
17曾巨威,促產條例租稅減免之整體影響評估,行政院賦稅改革委員會研究報告,2009。
二、英文文獻
1. Amir, E., Kirschenheiter, M. and Willard, K.,“The valuation of deferred taxes, Contemporary Accounting Research, 14 (4), (Winter), pp.597-622 ,1997.
2. Bauman, C. C. and Bauman, M. P,“The deferred tax asset valuation allowances as a strategic accounting choice, Working paper, Uinversity of Wisconsin-Milwaukee, University of Illinois at Chicago, 2000.
3. Bauman, C. C., Bauman, M. P. and Halsey, R. F,“Do firms use the deferred tax asset valuation allowance to manage earnings ? The Journal of the American Taxation Association, 23, pp.27-48, 2001.
4. Brown, S. and Lippitt, J,“Are deferred taxes discountables? Journal of Business Finance and Accounting , 14, (Spring), pp.121-130, 1987.
5. Byington, J. R.,“FAS109:Less complex computation but more complex judgment required for accounting for income taxes, The Journal of Corporate Accounting and Finance, (Summer), 1992.
6. Chandra, U. and Ro, B. T.,“The association between deferred taxes and common stock risk, Journal of Accounting and Public Policy, 16, pp.311-333,1997.
7. Chaney, P. and Jeter, D., “The effect of deferred taxes on security price, Journal of Accounting, Auditing and Finance, 12, pp.91-116, 1994.
8. Comiskey, E. A. and Mulford, C. W.,“Evaluating deferred-tax assets:Some guidance for lenders, Commercial Lending Review, 9, pp.12-25, 1994.
9. David A. Guenther, “Earnings Management in Response to Corporate Tax rate Changes: Evidence from the 1986 Tax Reform Act, The Accounting Review, vol. 69. No 1, pp230-243, 1994.
10. Edward, L. Maydew, “Tax-Induced Earnings Management by Firms with Net Operating Losses, Journal of Accounting Research, vol 35 No.1 Spring, pp83-96, 1997.
11. Findlay, M. C. and Williams, E.E.,“Discounting deferred tax liabilities:A reply, Journal of Business Finance and Accounting, 8, (Winter), pp.593-597, 1981.
12. Frank, M. M. and Rego, S. O.,“Do managers use the valuation allowance account to manage earnings around certain earnings targets? Working paper, University of Iowa, 2006.
13. Givoly, D. and Hayn, C.,“The valuation of the deferred tax liability:Evidence from the stock market, The Accounting Review,65, pp.394-410, 1992.
14. Healy, P. and Wahlen, J. M.,“A review of the earnings management literature and its implications for standard setting, Accounting Horizons, (December), pp.365-383, 1999.
15. Holley, C. L. and Ziegenfuss, D.,“The discounting dilemma, CPA Journal ,57, (October), pp.100-101, 1987.
16. Kreuze, J. G.,“Comprehensive income tax allocation: A study investigating the extent to which the form and content of disclosure impact upon investment analysis, Unpublished Ph D.Dissertation, University of Missouri-Columbia, 1983.
17. Landry, S.,“Evidence on the value-relevance of deferred tax assets and deferred tax liabilities, Unpublished Ph. D. Dissertion , University of Florida, 1998.
18. Miller, G. and Skinner, D.,“Determinants of the valuation allowance for deferred tax assets under SFAS No.109, The Accounting Review, 73(2), (April), pp.213-233, 1998.
19. Miller, H. E.,“How much tax allocation, Journal of Accountancy , (August), pp. 46-51, 1962.
20. Myron S. Scholes , G. Peter Wilson and Mark A. Wolfson, , “ Firms’ Responses to Anticipated Reductions in Tax Rates: The Tax Reform Act of 1986, Journal of Accounting Research, vol 30, pp161-186, 1992.
21. Nurnberg, H.,“Discounting deferred tax liabilities, The Accounting Review, (October), pp. 655-665, 1972.
22. Peavey, D. E. and Nurnberg, H.,“FASB 109:Auditing considerations of deferred tax assets, Journal of Accountancy,(March), pp.77-81, 1993.
23. Petree, T. R., Gregory, G. J. and Vitray, R. J.,“Evaluating deferred tax assets, Journal of Accountancy, (March), pp.71-77, 1995.
24. Phillips, J. D., Pincus, M. and Rego, S. O.,“Earining management:New evidence based on deferred tax expense, The Accounting Review, 78, (April), pp.491-521, 2003.
25. Phillips, J. D., Pincus, M., Rego, S. O. and Wan, H.,“Decomposing changes in deferred assets and liabilities to isolate earnings management activities, Working paper,University of Connecticut, 2003.
26. Poterba, J., Rao, N. and Seidman, J.,“The significance and composition of deferred tax assets and liabilities, Working paper No.12923, National Bureau of Economic Research, 2007.
27. Robbins, B. P. and Swyers, S. O.,“Accounting for income taxes: Predicting timing difference reversals, Journal of Accountancy, (September), pp.108-118, 1984.
28. Schrand, C. and Wong, M. H. F.,“Earnings management using the valuation allowance for deferred tax assets under SFAS 109, Contemporary Accounting Research,( Fall), pp.579-611, 2003.
29. Smith, D. A. and Freeman, G. R.,“Accounting for income taxes---SFAS 109, The CPA Journal, (April), 1992.
30. Stepp, J. O. and Petzing, L. N.,“Accounting for income taxes---one more time, Financial Executive, (September/October), 1991.
31. Tse, S. and Holtzman, M.,“The cross-sectional valuation of deferred income taxes:Effects of industry-specific tax policies, Working paper,University of Texas at Austin,TX, 1995.
32. Visvanathan, G.,“Deferred tax valuation allowances and earning management, Journal of Financial Statement Analysis ,3(4) pp.6-15, 1998.
33. Wolk, H. I., Sabuert, L. K. and Tierman, F. M.,“A further note on discounting deferred taxes, Journal of Business Finance and Accounting ,11, (Summer), pp. 253-255, 1984.
34. Wolk, H. I. and Tearney, M. G. ,“Discounting deferred tax liabilities:Review and analysis, Journal of Business Finance and Accounting, 7, (Spring), pp.119-133, 1980.

連結至畢業學校之論文網頁點我開啟連結
註: 此連結為研究生畢業學校所提供,不一定有電子全文可供下載,若連結有誤,請點選上方之〝勘誤回報〞功能,我們會盡快修正,謝謝!
QRCODE
 
 
 
 
 
                                                                                                                                                                                                                                                                                                                                                                                                               
第一頁 上一頁 下一頁 最後一頁 top
系統版面圖檔 系統版面圖檔