政大機構典藏-National Chengchi University Institutional Repository(NCCUR):Item 140.119/146832

政大機構典藏-National Chengchi University Institutional Repository(NCCUR):Item 140.119/146832

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Please use this identifier to cite or link to this item: https://nccur.lib.nccu.edu.tw/handle/140.119/146832

Title:	路徑依賴、產品市場力量與租稅規避 Path Dependence, Product Market Power, and Tax Avoidance
Authors:	李欣蓓 Lee, Hsin-Pei
Contributors:	何怡澄郭振雄 Ho, Yi-Cheng Kuo, Jenn-Shyong 李欣蓓 Lee, Hsin-Pei
Keywords:	路徑依賴產品市場力量租稅規避 Path dependence Product market power Tax avoidance
Date:	2023
Issue Date:	2023-09-01 14:41:52 (UTC+8)
Abstract:	本研究探討路徑依賴現象與公司租稅規避之關聯性，以及公司之產品市場力量對於上述關聯性之影響。路徑依賴理論闡述組織受過去的行為束縛，在決策與行動上變得僵化、失去靈活性。本研究主要以現金有效稅率作為避稅指標，並參考van der Geest, Jacob, and Peters(2021)探討路徑依賴對公司避稅之影響，依據路徑依賴理論，市場上的現存者(incumbent)受路徑依賴影響，而新進入者(new entrants)則不受路徑依賴影響；產品市場力量遵循Datta, Iskandar-Datta, and Singh(2013)，以調整後之Lerner指數作為衡量基礎，並以1987年至2016年北美上市公司為研究對象。實證結果顯示，具有路徑依賴現象的公司，其租稅規避程度較低；進一步以產品市場力量強度區分新進入者時，發現當新進入者的產品市場力量愈強，路徑依賴對租稅規避的影響愈大。本研究進行三項敏感性分析：第一，採用額外避稅指標與路徑依賴變數進行迴歸分析；第二，將樣本期間延長至2021年，以涵蓋2018年稅法改革之影響，前二者皆與主要結果一致；第三，採用現金租稅節省(DELTA-MVA)衡量租稅規避，以納入稅前淨利為負之觀察值，此部分進一步發現，產品市場力量低之新進入者，由於在剛進入市場時，稅前淨利大多為負，租稅規避反而低於現存者；而產品市場力量強之新進入者則能克服此影響，顯示產品市場力量之強度對於路徑依賴與租稅規避之關係有重大影響。 This study investigates the relationship between path dependence and corporate tax avoidance, as well as the impact of product market power on this relationship. Path dependence theory suggests that organizations are bound by past behaviors, resulting in rigidity and a loss of flexibility in decision-making and actions. This study primarily uses the cash effective tax rate as a tax avoidance indicator and refers to van der Geest, Jacob, and Peters (2021) to explore the impact of path dependence on corporate tax avoidance. According to path dependence theory, incumbents in the market are influenced by path dependence, while new entrants are not. Product market power follows Datta, Iskandar-Datta, and Singh (2013), using the adjusted Lerner index as a measure, and the study focuses on North American listed companies from 1987 to 2016. The empirical results show that companies with path dependence exhibit lower levels of tax avoidance. Furthermore, when differentiating new entrants based on the intensity of their product market power, it is found that the influence of path dependence on tax avoidance is greater when new entrants have stronger product market power. The study conducts three sensitivity analyses: first, regression analysis using an alternative tax avoidance indicator and path dependence variable; second, extending the sample period until 2021 to cover the impact of the 2018 tax reform, both of which are consistent with the main results; third, using cash tax savings (DELTA-MVA) to measure tax avoidance, incorporating observations with negative pre-tax profits. In this analysis, it is further found that new entrants with low product market power have lower tax avoidance compared to incumbents, as their pre-tax profits are mostly negative when they enter the market. However, new entrants with strong product market power can overcome this effect, indicating that the intensity of product market power significantly influences the relationship between path dependence and tax avoidance.
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Description:	碩士國立政治大學會計學系 110353109
Source URI:	http://thesis.lib.nccu.edu.tw/record/#G0110353109
Data Type:	thesis
Appears in Collections:	[Department of Accounting] Theses

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