臺灣博碩士論文加值系統

本研究的目的是研究在疫情期間，我國上市上櫃公司的租稅規避行為與其公司治理評鑑排名結果之間是否存在關聯。研究期間為2017年至2022年，研究對象為有參與我國臺灣證券交易所所辦理的公司治理評鑑，第四屆至第九屆公司治理評鑑之上市上櫃公司。本研究使用了分數的方法來衡量公司治理評鑑的排名，該排名是以1至7分的範圍來表示，具體分數是取決於公司在排名中的百分比位置，排名越前面者，分數越高。另外，我們使用了財稅差異、兩年期現金有效稅率作為替代變數來衡量租稅規避行為。
根據實證結果顯示，在非疫情期間，我們觀察到公司治理與租稅規避之間存在著顯著的關聯性，較好的公司治理排名與公司的租稅規避呈現正向關係，即公司的財稅差異擴大、現金有效稅率降低。此外，藉由年度的虛擬變數可以看到，在疫情期間，也造成了公司的財稅差異擴大及現金有效稅率的降低，本研究推測，這可能是因為疫情期間的經濟不確定性和市場變動促使公司採取更積極的稅務策劃措施，以減輕經營壓力並降低稅務負擔。最後，我們觀察到在疫情期間，公司治理的影響力對兩種租稅規避行的結果仍然一致，代表在疫情期間，有較好的公司治理，仍然會有較高的避稅行為。

The purpose of this study is to examine the relationship between the corporate governance ranking results and tax avoidance behavior of listed company in Taiwan during the COVID-19. We aim to investigate the mutual relationship between the corporate governance ranking and tax avoidance behavior during the COVID-19. The study period is 2017 to 2022, and the research focuses on companies that participated in the corporate governance evaluation conducted by the Taiwan Stock Exchange. The study specifically examined companies that participated in the 4th to 9th editions of the corporate governance evaluation by the Taiwan Stock Exchange.The corporate governance ranking is quantitatively measured using a scale of 1 to 7, where the specific score depends on the company's percentage position in the ranking, with higher scores indicating a better ranking. In addition, we use permanent tax differences and two-year cash effective tax rates, as alternative variables to measure tax avoidance behavior.

Based on the empirical results, we observed a significant relationship between corporate governance and tax avoidance during non-pandemic periods. Higher rankings in corporate governance were positively associated with tax avoidance, indicating an increase in the firm's tax-planning strategies and a decrease in the cash effective tax rate, leading to greater financial-tax differentials. Additionally, by introducing annual dummy variables, we found that during the pandemic, there was an expansion of financial-tax differentials and a decrease in the cash effective tax rate for companies. We speculate that this may be attributed to the economic uncertainty and market volatility during the pandemic, prompting companies to adopt more aggressive tax planning measures to alleviate operational pressures and reduce tax burdens. Finally, we observed that during the COVID-19, the influence of corporate governance remained consistent for both types of tax avoidance outcomes. This implies that even in the context of the COVID-19, better corporate governance still leads to higher levels of tax avoidance behavior.

目錄
摘要 I
ABSTRACT II
致謝詞 III
目錄 IV
表目錄 V
第一章 緒論 1
第一節 研究背景與動機 1
第二節 研究目的 4
第二章 文獻探討與假說建立 5
第一節 公司治理 5
第二節 租稅規避 8
第三節 新冠肺炎疫情、租稅規避與公司治理之關聯 11
第三章 研究方法 14
第一節 資料來源與樣本選取 14
第二節 實證模型與變數定義 16
第四章 實證結果 26
第一節 敘述性統計 26
第二節 相關係數分析 31
第三節 實證結果 34
第五章 額外測試 38
第六章 結論與建議 42
參考文獻 44

表目錄
表 1 公司治理評鑑各年上市上櫃公司數 14
表 2 應變數為財稅差異、現金有效稅率樣本篩選過程 15
表 3 應變數為財稅差異之變數定義表 17
表 4 應變數為兩年期現金有效稅率之變數定義表 18
表 5 量化的公司治理變數 20
表 6 產業分布 28
表 7 財稅差異為應變數之敘述性統計 29
表 8 兩年期現金有效稅率為應變數比較疫情前後 30
表 9 財稅差異相關係數分析表 32
表 10 兩年期現金有效稅率之相關係數 33
表 11 財稅差異之實證結果 36
表 12 兩年期現金有效稅率之實證結果 37
表 13 永久性財稅差異之實證結果 40
表 14 暫時性財稅差異之實證結果 41

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