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題名 股權結構與公司租稅規避之研究
作者 許晉銓
貢獻者 梁嘉紋
許晉銓
關鍵詞 股權結構
租稅規避
日期 2014
上傳時間 1-Oct-2015 14:12:00 (UTC+8)
摘要 Fama and Jensen 於1983年提出當公司的股權越集中，管理者越會對每個行動所帶來的風險更加敏銳，因而較不願從事高風險的行為，而企業為了提高現金流量並美化財報，往往希望稅務成本能夠降低因而進行租稅規避，但由於股權集中的企業較易引起稅捐稽徵機關的關注，因此進行租稅規避所帶來的效益可能不符成本，也因此本研究以台灣2000年至2012年上市櫃東司為樣本，並採用財稅差異、有效稅率及現金有效稅率為衡量方式，主要在探究企業股權結構與租稅規避行為之間的是否有其關聯性，根據本研究的實證結果，當企業股權集中度越高時，其避稅行為也會下降，除此之外，本文亦將企業股權結構加以細分為經理人、董監事、關係人及大股東持股比例並加以測試，根據實證結果我們發現，當經理人、董監事及關係人持有企業股份越高時，越不願意進行租稅規避，但在大股東持股比例的部分實證結果則顯示出兩者呈現正相關，亦及大股東持股比例較高時，反而企業愈容易進行租稅規避。
參考文獻 王文宇，2005，從股權結構論公司治理法則，月旦民商法雜誌，第10期(12月)：
5-24。
王元章與張椿柏，2012，核心代理問題對盈餘管理之影響，會計審計論叢，第二卷，第2期：69-113。
王建煊與吳嘉勳，2012，租稅法（三十四版），台北：文笙書局。
王惠昕，2001，代理問題對公司股權結構與財務決策之影響，國立中正大學財務金融研究所碩士論文。
吳明儀，1997，管理當局股權結構與盈餘管理相關性之研究，國立中興大學會計學系碩士論文。
林嬋娟與張哲嘉，2009，董監事異常變動、家族企業與企業舞弊之關聯性，會計評論，第48期(1月)：23-49。
林嬌能與許彩蓮，2011，家族企業與租稅規劃之關聯性，會計學報，第四卷，第
1期：23-49。
洪振，2003，股權集中度與股價報酬率之相關研究-以電子產業與傳統產業為例，國立成功大學企業管理研究所碩士論文。
翁淑育，2000，台灣上市公司股權結構、核心代理問題與公司價值之研究，
私立輔仁大學金融研究所碩士論文。
高蘭芬與邱正仁，2002，董監事股權質押對會計盈餘與股票報酬相關性之影響，台大管理論叢，第十三卷，第1期：127-162。
許士軍與陳光中，1989，台灣家族企業發展與家族結構關係，行政院國家科學會
專題研究。
許彩蓮，2010，家族企業與租稅規劃之相關性，私立逢甲大學會計學系碩士論文。
陳明進，2002，營利事業有效稅率決定因素之實證，會計評論，第34期(1月)：57-75。
陳明進，2003，我國租稅優惠對營利事業租稅負擔之影響，管理評論，第二十二卷，第1期：127-151。
陳明進與蔡麗雯，2006，課稅所得差異決定因素及課稅所得推估之研究，管理學報，第二十三卷，第6期：739-763。
陳釗銘，2009，台灣上市公司股權集中程度與內部股東持股質押對公司價值之影響，國立中央大學企業管理研究所碩士論文。
黃美祝，2010，財稅差異金額大小對國稅局選案查核之影響，會計評論，第50期(1月)：23-55。
黃美祝與楊佩璇，2011，集團企業與非集團企業避稅程度之比較，會計學報，第四卷，第1期：1-22。
葉銀華、李存修及柯承恩，2002，公司治理與評等系統，台北：商智文化。
曾本懿，2012，論租稅規避之法律效果，國立高雄大學法律學系研究所碩士論文。
溫智源，2004，從應計盈餘動機探討分析師對管理預測反應之研究，國立中正大學會計學研究所碩士論文。
楊絢斐，2008，股權集中度與盈餘品質之關聯性研究-以中國大陸上市公司為例，國立成功大學財務金融研究所碩士論文。
謝淑娟，1994，以權益代理問題的觀點探討股權結構與公司經營績效之關係」， 國立交通大學管理科學研究所碩士論文。
蘇惠卿，2005，股權集中度,管理當局機制及董事會特性與盈餘管理之相關性研究，國立成功大學會計學習碩士論文。
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描述 碩士
國立政治大學
會計研究所
101353019
資料來源 http://thesis.lib.nccu.edu.tw/record/#G0101353019
資料類型 thesis
dc.contributor.advisor 梁嘉紋zh_TW
dc.contributor.author (Authors) 許晉銓zh_TW
dc.creator (作者) 許晉銓zh_TW
dc.date (日期) 2014en_US
dc.date.accessioned 1-Oct-2015 14:12:00 (UTC+8)-
dc.date.available 1-Oct-2015 14:12:00 (UTC+8)-
dc.date.issued (上傳時間) 1-Oct-2015 14:12:00 (UTC+8)-
dc.identifier (Other Identifiers) G0101353019en_US
dc.identifier.uri (URI) http://nccur.lib.nccu.edu.tw/handle/140.119/78724-
dc.description (描述) 碩士zh_TW
dc.description (描述) 國立政治大學zh_TW
dc.description (描述) 會計研究所zh_TW
dc.description (描述) 101353019zh_TW
dc.description.abstract (摘要) Fama and Jensen 於1983年提出當公司的股權越集中，管理者越會對每個行動所帶來的風險更加敏銳，因而較不願從事高風險的行為，而企業為了提高現金流量並美化財報，往往希望稅務成本能夠降低因而進行租稅規避，但由於股權集中的企業較易引起稅捐稽徵機關的關注，因此進行租稅規避所帶來的效益可能不符成本，也因此本研究以台灣2000年至2012年上市櫃東司為樣本，並採用財稅差異、有效稅率及現金有效稅率為衡量方式，主要在探究企業股權結構與租稅規避行為之間的是否有其關聯性，根據本研究的實證結果，當企業股權集中度越高時，其避稅行為也會下降，除此之外，本文亦將企業股權結構加以細分為經理人、董監事、關係人及大股東持股比例並加以測試，根據實證結果我們發現，當經理人、董監事及關係人持有企業股份越高時，越不願意進行租稅規避，但在大股東持股比例的部分實證結果則顯示出兩者呈現正相關，亦及大股東持股比例較高時，反而企業愈容易進行租稅規避。zh_TW
dc.description.tableofcontents 表目錄 ii
第壹章、緒論 1
第一節、研究動機與目的 1
第二節、研究架構 4
第三節、研究問題 5
第貳章、文獻探討 6
第一節、股權結構 6
第二節、租稅規避 11
第三節、代理問題與租稅規避 17
第參章、研究設計 20
第一節、研究假說 20
第二節、變數衡量與模型建立 26
第三節、實證模型 33
第四節、資料來源與處理 36
第肆章、實證結果與分析 38
第一節、敘述性統計分析 38
第二節、相關性分析 41
第三節、多元迴歸分析結果 44
第四節、額外測試 55
第五節、敏感性測試 60
第伍章、研究結論與建議 63
第一節、研究結論 63
第二節、研究限制 66
第三節、研究建議 67
參考文獻 68
附錄一 大股東篩選過程 75		zh_TW
dc.format.extent 2213851 bytes-
dc.format.mimetype application/pdf-
dc.source.uri (資料來源) http://thesis.lib.nccu.edu.tw/record/#G0101353019en_US
dc.subject (關鍵詞) 股權結構zh_TW
dc.subject (關鍵詞) 租稅規避zh_TW
dc.title (題名) 股權結構與公司租稅規避之研究zh_TW
dc.type (資料類型) thesisen
dc.relation.reference (參考文獻) 王文宇，2005，從股權結構論公司治理法則，月旦民商法雜誌，第10期(12月)：
5-24。
王元章與張椿柏，2012，核心代理問題對盈餘管理之影響，會計審計論叢，第二卷，第2期：69-113。
王建煊與吳嘉勳，2012，租稅法（三十四版），台北：文笙書局。
王惠昕，2001，代理問題對公司股權結構與財務決策之影響，國立中正大學財務金融研究所碩士論文。
吳明儀，1997，管理當局股權結構與盈餘管理相關性之研究，國立中興大學會計學系碩士論文。
林嬋娟與張哲嘉，2009，董監事異常變動、家族企業與企業舞弊之關聯性，會計評論，第48期(1月)：23-49。
林嬌能與許彩蓮，2011，家族企業與租稅規劃之關聯性，會計學報，第四卷，第
1期：23-49。
洪振，2003，股權集中度與股價報酬率之相關研究-以電子產業與傳統產業為例，國立成功大學企業管理研究所碩士論文。
翁淑育，2000，台灣上市公司股權結構、核心代理問題與公司價值之研究，
私立輔仁大學金融研究所碩士論文。
高蘭芬與邱正仁，2002，董監事股權質押對會計盈餘與股票報酬相關性之影響，台大管理論叢，第十三卷，第1期：127-162。
許士軍與陳光中，1989，台灣家族企業發展與家族結構關係，行政院國家科學會
專題研究。
許彩蓮，2010，家族企業與租稅規劃之相關性，私立逢甲大學會計學系碩士論文。
陳明進，2002，營利事業有效稅率決定因素之實證，會計評論，第34期(1月)：57-75。
陳明進，2003，我國租稅優惠對營利事業租稅負擔之影響，管理評論，第二十二卷，第1期：127-151。
陳明進與蔡麗雯，2006，課稅所得差異決定因素及課稅所得推估之研究，管理學報，第二十三卷，第6期：739-763。
陳釗銘，2009，台灣上市公司股權集中程度與內部股東持股質押對公司價值之影響，國立中央大學企業管理研究所碩士論文。
黃美祝，2010，財稅差異金額大小對國稅局選案查核之影響，會計評論，第50期(1月)：23-55。
黃美祝與楊佩璇，2011，集團企業與非集團企業避稅程度之比較，會計學報，第四卷，第1期：1-22。
葉銀華、李存修及柯承恩，2002，公司治理與評等系統，台北：商智文化。
曾本懿，2012，論租稅規避之法律效果，國立高雄大學法律學系研究所碩士論文。
溫智源，2004，從應計盈餘動機探討分析師對管理預測反應之研究，國立中正大學會計學研究所碩士論文。
楊絢斐，2008，股權集中度與盈餘品質之關聯性研究-以中國大陸上市公司為例，國立成功大學財務金融研究所碩士論文。
謝淑娟，1994，以權益代理問題的觀點探討股權結構與公司經營績效之關係」， 國立交通大學管理科學研究所碩士論文。
蘇惠卿，2005，股權集中度,管理當局機制及董事會特性與盈餘管理之相關性研究，國立成功大學會計學習碩士論文。
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