Loading...
|
Please use this identifier to cite or link to this item:
https://nccur.lib.nccu.edu.tw/handle/140.119/54841
|
| Title: | 公司治理特性、經營策略對企業租稅規避程度之影響
To what extent is a Taiwanese firm`s tax avoidance affected by its corporate governance characteristics and business strategy? |
| Authors: | 余安婷 |
| Contributors: | 許崇源
余安婷 |
| Keywords: | 企業經營策略
租稅規避
公司治理特性
business strategy
tax avoidance
corporate governance |
| Date: | 2011 |
| Issue Date: | 2012-10-30 13:58:29 (UTC+8) |
| Abstract: | 極端之租稅規避活動可能導致較高之受查、受罰與聲譽風險。又由一企業之經營策略，可觀察該企業決定如何於選定市場中競爭，且部分上展現了該企業承擔風險與不確定性之意願。因此企業願意承受之風險越高，可能亦較願意從事較激進之租稅規避活動。亦即研究一企業之策略決策，就某種程度而言應可反映企業之租稅規避程度。此外，企業之治理單位，例如：董事會，於企業策略選擇扮演重要角色，因此，分析組織之公司治理特性亦應有助於解釋其租稅規避程度之高低。
針對2001至2011年台灣上市櫃公司實證結果，本研究得到以下結論：(1) 相對於採攻擊者策略之企業，採防禦者策略之企業之有效稅率偏高，表示其從事較低程度之租稅規避活動。(2) 組織之帳面有效稅率顯著受到董監席次控制比例、董監持股比率及經理人持股等三項本研究所採董事會特性為主之公司治理變數所影響。
A firm’s choice of business-level strategy are likely to determine the level of tax avoidance because the firm strategies are, in part, based on a firm’s willingness to deal with risk and uncertainty. In addition, a firm’s board of directors is influential toward a firm’s major business strategies. Since a firm’s strategies are based on its intent to deal with risks, the choice made by the firm may be able to represent its governance unit’s willingness to bear risks. Therefore, this paper examines to what extent a Taiwanese firm’s business-level strategy and corporate governance characteristics affect its level of tax avoidance.
This paper finds that defender firms tend to engage in less tax avoidance than prospector firms, as demonstrated by higher book effective tax rates. This paper also finds that firms with higher voting power hold by the ultimate controlling owner within the board of directors and supervisors tend to have higher book effective tax rates, which suggests lower level of tax avoidance activities. On the contrast, those firms with directors, supervisors, and managers holding more share interests tend to have a lower book effective tax rate, which indicates the firm engages in more tax avoidance activities. |
| Reference: | 中文部分
吳思華，1996，策略九說，台北：遠流出版社。
吳昆皇，1995，上市公司董事會組成與特性對企業經營績效之關聯性研究，國立台灣大學會計學研究所碩士論文。
侍台誠，1993，董事會特性中家族因素與經營績效之實證研究─兼論法人董事的影響，國立台灣大學會計學研究所碩士論文。
林世銘、楊朝旭，1994，上市公司營利事業所得稅負擔之研究，財稅研究，第26卷，第 6 期：34-52。
林淑芬，1994，董監事持股比例、多角化經營策略型態與財務績效關係之研究─上市公司實證分析，淡江大學管理科學研究所碩士論文。
洪士庭，2007，公司治理特性、經營策略與績效關係之研究，國立政治大學會計學系碩士論文。
周本鄂，1993，台灣地區上市公司董監事、關係人持股比例和公司Tobin’s Q關係之實證研究，中原大學企業管理學研究所碩士論文。
周添城、徐偉初、宋秀玲、李新仁，1989，部門、產業間之賦稅分配研究，財政部賦稅改革委員會。
孫秀蘭，1996，董事會制度與經營績效之研究，國立台灣大學財務金融研究所碩士論文。
翁銘鴻，1998，我國上市公司董事會特徵與經營績效之關聯性研究，國立政治大學會計學研究所碩士論文。
張明峰，1991，股權結構對公司績效影響之研究，國立政治大學企業管理研究所碩士論文。
許智超，2004，公司治理與經營績效、企業價值之關聯性研究，國立台北大學企業管理研究所碩士論文。
陳宏姿，2001，董監事結構與企業財務績效關聯之研究，國立政治大學會計研究所碩士論文。
陳明進，2002，營利事業有效稅率決定因素之實證研究，管理評論，第 34 期：57-75。
陳明進、林世銘、張天勳，2002，證券及土地交易所得免稅對我國公司有效稅率之影響，Taiwan Accounting Review 2 (1)。
陳明進，2003，我國租稅優惠對營利事業租稅負擔之影的影響，管理評論，第22卷，第1期。
陳麗娟，2004，董事會組成、股權結構、關係人交易與企業績效關係之研究─以紡織業及電子業為實證，國立成功大學高階管理碩士在職專班碩士論文。
葉銀華、李存修與柯承恩，2002，公司治理與評等系統，商智文化。
黃素華，2008，最低稅負制對營利事業有效稅率的影響，國立成功大學會計學系碩士論文。
黃裕洲，2005，公司治理、競爭策略、環境與公司績效關連性之研究：台灣半導體產業之實證，國立成功大學高階管理碩士在職專班碩士論文。
黃鈺光，1993，我國上市公司董事會特性與經營績效之研究，國立台灣大學會計學研究所碩士論文。
曾智揚，2002，董事會特性、經營策略與經營績效關係之研究－以台灣上市電子公司為例，國立台灣大學會計學系碩士論文。
賴英照，2006，股市遊戲規則－最新證券交易法解析，作者自版。
外文部分
Agrawal, A., and G. N. Mandelker. 1987. Managerial incentive and corporate Investment and financial decision. Journal of Finance 42:823-837.
Armstrong, C., J. Blouin, and D. Larker. 2010. The incentives for tax planning. Working paper, University of Pennsylvania.
Armstrong, C., J. Blouin, and D. Larker. 2010. The incentives for tax planning. Working paper, University of Pennsylvania.
Bushman, R., R. Indjeikian, and A. Smith. 1996. CEO compensation: The role of individual performance evaluation. Journal of Accounting and Economics21: 161-193.
Chen, S., X. Chen, Q. Cheng, and T. Shevlin. 2010. Are family firms more tax aggressive than non-family firms? Journal of Financial Economics 95: 41-61.
Claessens, S., S. Djankov, L. Lang. 2000. The separation of ownership and control in East Asian corporations. Journal of Financial Economics 58: 81-112.
Claessens, S., S. Djankov, J. Fan, L. Lang. 2002. Disentangling the incentive and entrenchment effects of large shareholdings. Journal of Finance 57: 2741-2771.
Cook, K., R. Huston, and T. Omer. 2008 Earnings management through effective tax rates: The effects of tax planning investment and Sarbanes-Oxley Act of 2002. Contemporary Accounting Research 25 (2): 447-471.
Daily, C. M., and D. R. Dalton. 1994. Bankruptcy and corporate governance: the impact of board composition and structure. Academy of Management Journal 37: 1603-1617.
Davis, G. F. 1991. Agents without principles? The spread of the poison pill through the intercorporate network. Administrative Science Quarterly 36:583-613.
Dayton, K. 1984. Corporate governance: the other side of the coin, Harvard Business Review 62:34-37.
Dess, G. G., and Davis P. S. 1984. Porter`s (1980) generic strategies as determinants of strategic group membership and organizational performance. Academy of Management Journal 27(Sep): 467-488.
Dyreng, S., M. Hanlon, and E. Maydew. 2008. Long-run corporate tax avoidance. The Accounting Review 83: 61-82.
Edwards, J. and A. Weichenrieder. 2009. Control rights, pyramids, and the measurement of ownership concentration. Journal of Economic Behavior & Organization 72 (2009): 489-508
Faccio, M., L. Lang. 2002. The ultimate ownership of western European corporations. Journal of Financial Economics 65: 365-395.
Graham, J. and A. Tucker. 2006. Tax shelters and corporate debt policy. Journal of Financial Economics 81: 563-594.
Gompers, P., J. Ishii, and A. Metrick. 2003. Corporate governance and equity prices. The Quarterly Journal of Economics 118 (1): 107-156.
Grubert, H. and J. Slemrod. 1998. The effect of taxes on investment and income shifting to Puerto Rico. Review of Economics and Statistics 80 (3): 365-373.
Gupta, S. and K. Newberry. 1992. Corporate average effective tax rates after the Tax Reform Act of 1986. Tax Notes May 4: 689-702.
Gupta, S. and K. Newberry. 1997. Determinants of the variability in corporate effect tax rates: evidence from longitudinal data. Journal of Accounting and Public Policy 16: 1-34.
Hambrick, D.C. 1983. Some tests of the effectiveness and functional attributes of Miles and Snow’s strategic types. The Academy of Management Journal 26 (1): 5-26.
Hanlon, M., L. Mills, and J. Slemrod. 2007. An empirical examination of big business tax noncompliance. In Corporate Taxation, edited by J. Slemrod.
Harford, J., S. Mansi, W. Maxwell. 2008. Corporate governance and firm cash holdings in the US. Journal of Financial Economics 87 (3): 535-555.
He J. and T. M. Joseph. 2006. Capability, corporate governance, and firm competitive Behavior: A Multidimensional Framework, Academy of Management Annual Meetings, Atlanta, GA.
Helmer, H.W. 1996. A director’s role in strategy. Directors & Boards 20(3): 22-25.
Heracleous L. 2001. What is the impact of corporate governance on organizational performance? Corporate Governace 9(3): 165-173.
Higgins, D., T. Omer, and J. Phillips. 2011. Does a firm’s business strategy influence its level of tax avoidance? Working paper, University of Connecticut.
Hofer C. W., and D. Schendel. 1978. Strategy Formulation: Analytical Concepts, St. Paul. Minnesota: West Publishing Co.
Ittner, C. and D. Larker. 1997. The choice of performance measures in annual bonus contracts. The Accounting Review 72 (2): 231-255.
Jensen, M., and W. Meckling. 1976. Theory of the firm: managerial behavior, agency costs, and capital structure. Journal of Financial Economics 33: 305-360.
La Porta, R., F. Lopez-de-Silanes, and A. Shleifer. 1999. Corporate ownership around the world. Journal of Finance 54(2): 471-517.
La Porta, R., F. Lopez-de-Silanes, A. Shleifer, and R. Vishny. 2002. Investor protection and corporate valuation. Journal of Finance 57: 1147-1170.
Markle, K. and D. Shackelford. 2009. Does the domicile of a multinational affect its worldwide corporate income tax liability? Working paper, University of North Carolina.
McGuire, S., T. Omer, and D. Wang. 2010. Tax avoidance: Do industry experts make a difference? Working paper, Texas A&M University.
Miles, R. and C. Snow. 1978. Organizational Strategy, Structure and process. New York: McGraw-Hill.
Mills, L., M. Erickson, E. Maydew. 1998. Investments in tax planning. Tax Journal of the American Taxation Association 20 (1): 1-20.
Morck, R., A. Shleifer, and R. W. Vishny. 1988. Management ownership and market valuation：an empirical analysis. Journal of Financial Economics 20: 293-315.
Phillips, J. 2003. Corporate tax-planning effectiveness: The role of compensation-based incentives. The Accounting Review 78: 847-874.
Porcano, T. 1996. Corporate tax rates: progressive, proportional, or regressive. Journal of the American Taxation Association 7: 17-31.
Porter, M. E. 1980. Competitive strategy, techniques for analyzing industries and competitors. New York: Free Press.
Porter, M. 1996. What is strategy? Harvard Busines Review 74 (6): 61-78.
Rego, S. and R. Wilson. 2009. Executive compensation, tax reporting aggressiveness, and future firm performance. Working paper, University of Iowa.
Rego, S. 2003. Tax avoidance activities of U.S. multinational corporations. Contemporary Accounting Research 20: 805-833.
Robinson, J., S. Sikes, and C. Weaver. 2010. The impact of evaluating the tax department as a profit center on effective tax rates. The Accounting Review, forthcoming.
Smith, C., and R. Watts. 1992. The investment opportunity set and corporate financing, dividend, and compensation policies. Journal of Financial Economics 32:263-292.
Snow, C. and D. Hreviniak. 1980. Measuring organizational strategies. Academy of Management Review 5: 317-336.
Stickney, C and V. McGee. 1982. Effective corporate tax rates: the effect of size, capital intensity, leverage, and other factors. Journal of Accounting and Public Policy 1: 125-152.
Treichler, C.M. 1995. Diversity of board members and organizational performance：an integrative perspective. Corporate Governance 3: 189-200.
Thomas, A., R. Litschert, and K. Ramaswamy. 1991. The performance impact of strategy-manager coalignment: An empirical examination. Strategic Management Journal 12: 509-522.
Ussem M. 2006. How well-run boards make decisions. Harvard Business Review (Nov).
Wright, P., Pringle C. D., and Kroll M. J. 1994. Strategic Management. Boston: Allyn and Bacon.
Yeh, Y.H. 2005. Do the Controlling Shareholder Enhance Corporate Value? Corporate Governance: An International Review 13(2): 313-325.
Zahra, S. A., and Pearce, J. A. 1989. Boards of directors and corporate financial performance: a review and integrative model. Journal of Management 15: 291-334.
Zahra, S. A., and Pearce, J. A. 1992. Board composition from a strategic contingency perspective. Journal of Management Studies July: 411-438.
Zimmerman, J. 1983. Taxes and firm size. Journal of Accounting and Economics 5: 119-149. |
| Description: | 碩士
國立政治大學
會計研究所
99353020
100 |
| Source URI: | http://thesis.lib.nccu.edu.tw/record/#G0099353020 |
| Data Type: | thesis |
| Appears in Collections: | [會計學系] 學位論文
|
Files in This Item:
| File |
Size | Format | |
|---|
| 302001.pdf | 6441Kb | Adobe PDF2 | 707 | View/Open |
|
All items in 政大典藏 are protected by copyright, with all rights reserved.
|
