政大機構典藏-National Chengchi University Institutional Repository(NCCUR):Item 140.119/135140

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政大機構典藏 > 商學院 > 會計學系 > 期刊論文 > Item 140.119/135140

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题名:	Innovation and Corporate Tax Planning: The Distinct Effects of Patents and R&D
作者:	翁嘉祥 Weng, Chia‐Hsiang Cheng, C. S. Agnes Guo, Peng Wu, Qiang
贡献者:	會計系
日期:	2020-04
上传时间:	2021-05-26 10:31:15 (UTC+8)
摘要:	Using a large US sample, we find a significant and positive relation between patents and corporate tax planning, and the effect is incremental to the effect of R&D on tax planning. We employ a quasi‐natural experiment based on staggered industry‐level innovation shocks to identify the positive causal effect of patents on corporate tax planning. We also find that patents are not associated with tax planning for domestic firms, but their association with tax planning is concentrated in multinational firms, which have the ability to shift domestic income to low‐tax countries. Moreover, we find that the identified effect mainly exists in the post–check‐the‐box (CTB) rule period when shifting income among affiliates becomes more flexible and convenient. Finally, we use two income‐shifting models and find that patents, rather than R&D, facilitate tax planning through an income‐shifting channel. Overall, our results suggest that R&D and patents facilitate firms` tax planning in distinct ways: R&D facilitates tax planning as intended through tax credits and deductions, whereas patents are used by taxpayers to avoid taxes aggressively through income shifting.
關聯:	Contemporary Accounting Research, 38:1, 621-653
数据类型:	article
DOI 連結:	https://doi.org/10.1111/1911-3846.12613
DOI:	10.1111/1911-3846.12613
显示于类别:	[會計學系] 期刊論文

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