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Title:	會計方法和報稅方式的相互影響：美國公司收購合併的實證結果 The Interaction of Accounting and Tax Choices: Empirical Evidence from Corporate Acquisitions
Authors:	詹清麗 Halperin, Robert Jan, Ching-Lih
Keywords:	合併;企業購買;公司改組;權益結合法 Mergers;Corporate acquisitions;Reorganizations;Pooling-or-interests
Date:	1995-10
Issue Date:	2017-11-15 14:54:01 (UTC+8)
Abstract:	美國公司的收購合併在稅法處理上，可能是會被課稅的，也可能是免稅的。相對的，在會計上也有兩種處理方式：購買(purchase)或權益結合(pooling-of- inteests)。雖然會計方法和報稅方式的選擇是相互影響的，但是大多數的學者在做研究時，只單獨做報稅方式的研究，或是只單獨做會計方法的研究。這種排除另外一個其實是相關因素的研究方式，至少部份是因為他們沒有將有形資產的升值部份，和無形資產的商譽劃分清楚，我們在這篇的研究報告裡，因為做了這種劃分所以能同時分析會計方法和報稅方式。這種劃分是必要的，因為會計上對有形資產的可能升值與對商譽，和稅法有不同的處理方式。我們的實證研究結果顯示：1.有形資產在可課稅的購買方式(taxable purchases)下比在免稅的購買方式(tax free purchases)下有較多的升值。2.可課稅的購買方式(taxable purchases)與「免稅的」權益結合方式(poolings)比免稅的購買方式(tax free purchases)有較高的合併溢價。3.權益結合方式(poolings)有最高額的商譽。4.收購公司並沒有為了要使其收購合併，在會計上能做為權益結合方式(poolings)的處理，而支付較高的合併溢價。這是與最近其他研究，正好相反的發現。此文之實證結果與我們基於稅法和經濟上的理論，所做的預期結果，是一致的。 Corporate acquisitions can be taxable or tax free and can be accounted for as purchases or pooling-of-interests. Although the choices of tax form and accounting treatment are interrelated, most researchers have examined only tax form or accounting treatment to the exclusion of the other. This exclusion at least in part may be because researchers have not separated step up in basis of tangible assets from goodwill. We make this separation and consider the tax and accounting dimensions simultaneously. This separation is necessary because step up potential and goodwill are treated differently across the accounting and tax dimensions. Our results show that: 1. Taxable purchases have higher step up in basis of tangible assets than tax free purchases. 2. Merger premia are higher for taxable purchases and (tax free) poolings than for tax free purchases. 3. Goodwill is highest for poolings. 4. Contrary to recent suggestions, acquiring companies do not pay higher merger premia to have acquisitions accounted for as poolings. These results are consistent with our predictions based on tax and economictheory.
Relation:	會計評論, 29, 101-134
Data Type:	article
DOI link:	http://dx.doi.org/10.6552%2fJOAR.1995.29.4
DOI:	10.6552/JOAR.1995.29.4
Appears in Collections:	[International Journal of Accounting Studies] Journal Articles

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