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| Title: | 歐盟宣告改革ETS制度對非成員國企業租稅規避之影響：以臺灣為例
Tax Avoidance as an Unintended Consequence of EU ETS on Non-member Countries: Evidence from Taiwan |
| Authors: | 王翊寧
Wang, Yi-Ning |
| Contributors: | 何怡澄
郭振雄
Ho,Yi-Cheng
Kuo, Jenn-Shyong
王翊寧
Wang, Yi-Ning |
| Keywords: | 歐盟碳交易系統(EU ETS)
租稅規避
碳權價格
非EU ETS成員國企業
European Union Emissions Trading System (EU ETS)
Tax avoidance
Emission prices
Firms from non-EU ETS member countries |
| Date: | 2025 |
| Issue Date: | 2025-09-01 16:32:07 (UTC+8) |
| Abstract: | 本研究旨在探討2017年2月28日歐盟理事會宣告歐盟排放交易體系(EU ETS)第四階段改革，對在EU ETS涵蓋區域內設立營業據點之非EU ETS成員國企業租稅規避行為的影響，以台灣上市櫃公司為例。本文以2012年至2022年台灣上市櫃公司為樣本，採用差異中的差異法(Difference-in-Differences, DiD)進行實證分析，被解釋變數使用Δ/MVA(Henry and Sansing, 2018)作為租稅規避指標。實證結果顯示在EU ETS改革宣告後，相較於未在涵蓋區域設立營業據點的非成員國企業，設立據點的非成員國企業租稅規避程度顯著增加，支持改革宣告引發的預期成本壓力促使企業增加避稅的假說。採用多種替代租稅規避指標、變更實驗組設定、調整樣本設定等敏感性測試，並利用傾向分數配對(PSM)和熵平衡法進行內生性處理後仍然穩健。橫斷面分析發現非家族企業、未在OECD租稅避風港設立關係企業、財務限制較低以及高碳排放的企業，在EU ETS改革宣告後其租稅規避行為的增加更顯著。
This study investigates the impact of the European Union Emissions Trading System (EU ETS) Phase IV reform announcement on February 28, 2017, on the corporate tax avoidance behavior of firms from non-EU ETS member countries that have established operations within EU ETS-covered regions. We focus on Taiwanese listed companies as an illustrative case. Utilizing a sample of Taiwanese listed companies from 2012 to 2022, we employ a Difference-in-Differences (DiD) methodology. Tax avoidance is primarily measured by Δ/MVA, following Henry and Sansing (2018). The empirical findings reveal that, following the EU ETS reform announcement, firms with operations in EU ETS-covered regions exhibit a significant increase in tax avoidance compared to their counterparts without such operations. This supports the hypothesis that anticipated cost pressures stemming from the reform announcement incentivize increased tax avoidance. These findings remain robust after conducting a series of sensitivity analyses, including the use of alternative tax avoidance proxies, modifications to the treatment group definition, adjustments to the sample scope, and endogeneity checks using Propensity Score Matching (PSM) and Entropy Balancing methods. Further cross-sectional analyses indicate that the increase in tax avoidance post-reform announcement is more pronounced for non-family firms, firms without affiliates in OECD tax havens, firms with lower financial constraints, and those with high carbon emissions. |
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| Description: | 碩士
國立政治大學
財政學系
112255007 |
| Source URI: | http://thesis.lib.nccu.edu.tw/record/#G0112255007 |
| Data Type: | thesis |
| Appears in Collections: | [財政學系] 學位論文
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