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題名 企業捐贈與租稅規避關聯性研究
Corporate giving and tax avidance作者 蔡怡萱
Tsai, Yi Shuan貢獻者 何怡澄<br>郭振雄
Ho, Yi Cheng<br>Kuo, Jenn Shyong
蔡怡萱
Tsai, Yi Shuan關鍵詞 企業捐贈
捐贈關係人
租稅規避
非營利組織
Corporate donations
Donations to related parties
Tax avoidance
Non-profit organizations日期 2017 上傳時間 9-Apr-2018 15:39:01 (UTC+8) 摘要 本論文探討企業捐贈與其租稅規避的關聯性。透過蒐集台灣公開發行以上公司在2013至2015年對外公告的捐贈情況與對象，分析捐贈企業相較於無捐贈企業的租稅規避差異程度，並透過企業決策、受贈者的組織類型與特性，以及企業與受贈對象關係三部分，探討捐贈企業與受贈者間關係與企業避稅行為關聯性。實證結果發現，捐贈給關係人之企業具有較高的租稅規避傾向；進一步將受贈對象依組織類型分類，發現企業捐贈財團法人基金會及公益信託時，企業有較高的租稅規避情況。此外，企業的捐贈對象數、企業的董事會席規模、受贈者的財產總額及活動數，與捐贈企業的租稅規避呈現顯著正向關係。
This study aims primarily to examine the association between corporate donation and tax avoidance. We collect publicly available data of the corporate donations made by publicly traded companies in Taiwan between 2013 and 2015, and analyze the extents of tax avoidance between corporations that donate and those that do not. This study focuses on three aspects: corporate decision on the donation, the organization types and features of the recipient, and the relation between the donor and recipient. The empirical results show that corporations that donate to related parties are more likely to avoid tax, especially those that donate to foundations and charitable trusts. In addition, positive relationships were found between tax avoidance and three variables: the number of recipients, the size of the board of directors, and the amount of properties and activities held by the recipient.參考文獻 江明修與陳定銘，1999，我國基金會之問題與健全之道，中國行政評論，第8期（3），23-72。杜瑞榮與薛明玲，1993，非營利組織之管理財務及稅務問題之研究，財稅研究，第25期（1）：35-44。姚惠珍（2016年4月12日）。王雪紅的「假公益真投資」。新新聞。取自http://www.new7.com.tw/coverStory/CoverView.aspx+/-NUM=1518&i=TXT20160406164208CLP陳明進與林怡伶，2011，資產減值準備與股權結構對中國上市公司有效稅率之影響，會計審計論叢，第1期（2）：27-55。陳明進與蔡麗雯，2006，財稅所得差異決定因素及課稅所得推估之研究，管理學報，第23期（6）：739-763。葉銀華、邱顯比與何憲章，1997，利益輸送代理問題和股權結構之理論與實證研究，中國財務學刊，第4期（4）：47-73。盧永山（2016年4月12日）。莫薩克馮賽卡 盜用紅會名義藏錢。自由時報電子報。取自http://news.ltn.com.tw/news/business/paper/978078謝宗林（譯）（2011），資本主義與自由（原作者：Milton Friedman）。台北市：博雅書房。（原著出版年：1962）譚慧芳與吳清在，2012，非營利醫院的避稅動機與盈餘管理，會計與公司治理，第8期（2）：1-25。Boatsman, J. R., and S. Gupta. 1996. Taxes and corporate charity: empirical evidence from microlevel panel data. National Tax Journal: 193-213.Bolton, P., and H. Mehran. 2006. An introduction to the governance and taxation of not-for-profit organizations. Journal of Accounting and Economics 41(3): 293-305.Brown, W. O., E. Helland, and J. K. Smith. 2006. Corporate philanthropic practices. Journal of Corporate Finance 12(5): 855-877.Carroll, R., and D. Joulfaian. 2005. Taxes and corporate giving to charity. Public Finance Review 33(3): 300-317.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(1): 41-61.Cheung, Y. L., Y. Qi, P. R Rau, and A. Stouraitis. 2009. Buy high, sell low: How listed firms price asset transfers in related party transactions. Journal of Banking & Finance 33(5): 914-924.Christensen, J., and R. Murphy. 2004. The social irresponsibility of corporate tax avoidance: Taking CSR to the bottom line. Development 47(3): 37-44.Clotfelter, C. T. 1985. Federal Tax Policy and Charitable Giving. Chicago: University of Chicago Press.Desai, M. A., A. Dyck, and L. Zingales. 2007. Theft and taxes. Journal of Financial Economics 84(3): 591-623.Desai, M. A., and D. Dharmapala. 2006. Corporate tax avoidance and high-powered incentives. Journal of Financial Economics 79(1): 145-179.Desai, M. A., and D. Dharmapala. 2009. Corporate tax avoidance and firm value. The review of Economics and Statistics 91(3): 537-546.Dyreng, S. D., M. Hanlon, and E. L. Maydew. 2008. Long-run corporate tax avoidance. The Accounting Review 83(1): 61-82.Galaskiewicz, J. 1997. An urban grants economy revisited: Corporate charitable contributions in the Twin Cities, 1979-81, 1987-89. Administrative Science Quarterly, 445-471.Glaeser, E. L. 2003. The governance of not-for-profit organizations, Chicago: University of Chicago Press.Graham, J. R., and A. L. Tucker. 2006. Tax shelters and corporate debt policy. Journal of Financial Economics 81(3): 563-594.Greening, D. W., and D. B. Turban. 2000. Corporate social performance as a competitive advantage in attracting a quality workforce. Business & Society 39(3): 254-280.Hanlon, M. 2005. The persistence and pricing of earnings, accruals, and cash flows when firms have large book-tax differences. The Accounting Review 80(1): 137-166.Hanlon, M., and J. S lemrod. 2009. What does tax aggressiveness signal? Evidence from stock price reactions to news about tax shelter involvement. Journal of Public Economics 93(1): 126-141.Hanlon, M., and S. Heitzman. 2010. A review of tax research. Journal of Accounting and Economics 50(2): 127-178.Jensen, M. C., and W. H. Meckling. 1976. Theory of the firm: Managerial behavior, agency costs and ownership structure. Journal of financial economics 3(4): 305-360.Khurana, I. K., and W. J. Moser. 2012. Institutional shareholders` investment horizons and tax avoidance. The Journal of the American Taxation Association 35(1): 111-134.Kirchler, E., B. Maciejovsky and F. Schneider. 2003. Everyday representations of tax avoidance, tax evasion, and tax flight: Do legal differences matter? Journal of Economic Psychology 24(4): 535-553.Lev, B., C. Petrovits and S. Radhakrishnan. 2010. Is doing good good for you? How corporate charitable contributions enhance revenue growth. Strategic Management Journal 31(2): 182-200.Lisowsky, P. 2010. Seeking shelter: Empirically modeling tax shelters using financial statement information. The Accounting Review 85(5): 1693-1720.McGuire, S. T., T. C. Omer, and D. Wang. 2012. Tax avoidance: Does tax-specific industry expertise make a difference? The Accounting Review 87(3): 975-1003.Mills, L. F. 1998. Book-tax differences and Internal Revenue Service adjustments. Journal of Accounting Research 36 (2): 343-356.Navarro, P. 1988. Why do corporations give to charity? Journal of Business, 65-93.Neiheisel, S. R. 1994. Corporate strategy and the politics of goodwill. New York: Peter Lang.Organisation for Economic Co-operation and Development (OECD). 2009. Report on Abuse of Charities for Money-Laundering and Tax Evasion. Available at: https://www.oecd.org/tax/exchange-of-tax-information/42232037.pdf. Accessed: January 7, 2017.Petrovits, C. M. 2006. Corporate-sponsored foundations and earnings management. Journal of Accounting and Economics 41(3): 335-362.Phillips, J., M. Pincus, and S. Rego. 2003. Earnings management: New evidence based on deferred tax expense. The Accounting Review 78(2): 491-521.Rego, S. O. 2003. Tax‐avoidance activities of US multinational corporations. Contemporary Accounting Research 20(4): 805-833.Rego, S. O., and R. Wilson. 2012. Equity risk incentives and corporate tax aggressiveness. Journal of Accounting Research 50(3): 775-810.Trussel, J. 2003. Assessing potential accounting manipulation: The financial characteristics of charitable organizations with higher than expected program-spending ratios. Nonprofit and Voluntary Sector Quarterly 32(4): 616-634.Vermeer, T. E., C. T. Edmonds, and S. C. Asthana. 2014. Organizational Form and Accounting Choice: Are Nonprofit or For-Profit Managers More Aggressive? The Accounting Review 89(5): 1867-1893.Wang, M, 2016. Does The Impulse of Corporate Social Responsibility Mean Low Tax Avoidance? Evidence from Listed Companies’ Charitable Foundations. 2016 AFAANZ Conference. Symposium conducted in Gold Coast, Australia.Williamson, O. E. 1964. The economics of discretionary behavior: Managerial objectives in a theory of the firm. New Jersey: Prentice-Hall.Wilson, R. J. 2009. An examination of corporate tax shelter participants. The Accounting Review 84(3): 969-999.Yermack, D. 2009. Deductio’ad absurdum: CEOs donating their own stock to their own family foundations. Journal of Financial Economics 94(1): 107-123.Zimmerman, J. L. 1983. Taxes and firm size. Journal of Accounting and Economics 5, 119-149. 描述 碩士
國立政治大學
會計學系
104353102資料來源 http://thesis.lib.nccu.edu.tw/record/#G0104353102 資料類型 thesis dc.contributor.advisor 何怡澄<br>郭振雄 zh_TW dc.contributor.advisor Ho, Yi Cheng<br>Kuo, Jenn Shyong en_US dc.contributor.author (Authors) 蔡怡萱 zh_TW dc.contributor.author (Authors) Tsai, Yi Shuan en_US dc.creator (作者) 蔡怡萱 zh_TW dc.creator (作者) Tsai, Yi Shuan en_US dc.date (日期) 2017 en_US dc.date.accessioned 9-Apr-2018 15:39:01 (UTC+8) - dc.date.available 9-Apr-2018 15:39:01 (UTC+8) - dc.date.issued (上傳時間) 9-Apr-2018 15:39:01 (UTC+8) - dc.identifier (Other Identifiers) G0104353102 en_US dc.identifier.uri (URI) http://nccur.lib.nccu.edu.tw/handle/140.119/116767 - dc.description (描述) 碩士 zh_TW dc.description (描述) 國立政治大學 zh_TW dc.description (描述) 會計學系 zh_TW dc.description (描述) 104353102 zh_TW dc.description.abstract (摘要) 本論文探討企業捐贈與其租稅規避的關聯性。透過蒐集台灣公開發行以上公司在2013至2015年對外公告的捐贈情況與對象，分析捐贈企業相較於無捐贈企業的租稅規避差異程度，並透過企業決策、受贈者的組織類型與特性，以及企業與受贈對象關係三部分，探討捐贈企業與受贈者間關係與企業避稅行為關聯性。實證結果發現，捐贈給關係人之企業具有較高的租稅規避傾向；進一步將受贈對象依組織類型分類，發現企業捐贈財團法人基金會及公益信託時，企業有較高的租稅規避情況。此外，企業的捐贈對象數、企業的董事會席規模、受贈者的財產總額及活動數，與捐贈企業的租稅規避呈現顯著正向關係。 zh_TW dc.description.abstract (摘要) This study aims primarily to examine the association between corporate donation and tax avoidance. We collect publicly available data of the corporate donations made by publicly traded companies in Taiwan between 2013 and 2015, and analyze the extents of tax avoidance between corporations that donate and those that do not. This study focuses on three aspects: corporate decision on the donation, the organization types and features of the recipient, and the relation between the donor and recipient. The empirical results show that corporations that donate to related parties are more likely to avoid tax, especially those that donate to foundations and charitable trusts. In addition, positive relationships were found between tax avoidance and three variables: the number of recipients, the size of the board of directors, and the amount of properties and activities held by the recipient. en_US dc.description.tableofcontents 第壹章 緒論 1第一節 研究背景及動機 1第二節 研究流程 4第貳章 文獻探討與研究假說 5第一節 企業捐贈 6第二節 租稅規避 10第三節 企業捐贈以及租稅規避 13第四節 研究假說 14第參章 研究方法與設計 18第一節 資料來源與樣本篩選 18第二節 企業捐贈相關變數說明 19第三節 租稅規避指標 23第四節 研究模型 26第五節 控制變數 28第肆章 實證結果 32第一節 敘述統計 32第二節 迴歸結果 38第三節 敏感性分析 57第伍章 結論與研究限制 63第一節 研究結論與建議 63第二節 研究限制 64參考文獻 65附錄 69 zh_TW dc.format.extent 1852183 bytes - dc.format.mimetype application/pdf - dc.source.uri (資料來源) http://thesis.lib.nccu.edu.tw/record/#G0104353102 en_US dc.subject (關鍵詞) 企業捐贈 zh_TW dc.subject (關鍵詞) 捐贈關係人 zh_TW dc.subject (關鍵詞) 租稅規避 zh_TW dc.subject (關鍵詞) 非營利組織 zh_TW dc.subject (關鍵詞) Corporate donations en_US dc.subject (關鍵詞) Donations to related parties en_US dc.subject (關鍵詞) Tax avoidance en_US dc.subject (關鍵詞) Non-profit organizations en_US dc.title (題名) 企業捐贈與租稅規避關聯性研究 zh_TW dc.title (題名) Corporate giving and tax avidance en_US dc.type (資料類型) thesis en_US dc.relation.reference (參考文獻) 江明修與陳定銘，1999，我國基金會之問題與健全之道，中國行政評論，第8期（3），23-72。杜瑞榮與薛明玲，1993，非營利組織之管理財務及稅務問題之研究，財稅研究，第25期（1）：35-44。姚惠珍（2016年4月12日）。王雪紅的「假公益真投資」。新新聞。取自http://www.new7.com.tw/coverStory/CoverView.aspx+/-NUM=1518&i=TXT20160406164208CLP陳明進與林怡伶，2011，資產減值準備與股權結構對中國上市公司有效稅率之影響，會計審計論叢，第1期（2）：27-55。陳明進與蔡麗雯，2006，財稅所得差異決定因素及課稅所得推估之研究，管理學報，第23期（6）：739-763。葉銀華、邱顯比與何憲章，1997，利益輸送代理問題和股權結構之理論與實證研究，中國財務學刊，第4期（4）：47-73。盧永山（2016年4月12日）。莫薩克馮賽卡 盜用紅會名義藏錢。自由時報電子報。取自http://news.ltn.com.tw/news/business/paper/978078謝宗林（譯）（2011），資本主義與自由（原作者：Milton Friedman）。台北市：博雅書房。（原著出版年：1962）譚慧芳與吳清在，2012，非營利醫院的避稅動機與盈餘管理，會計與公司治理，第8期（2）：1-25。Boatsman, J. R., and S. Gupta. 1996. Taxes and corporate charity: empirical evidence from microlevel panel data. National Tax Journal: 193-213.Bolton, P., and H. Mehran. 2006. An introduction to the governance and taxation of not-for-profit organizations. Journal of Accounting and Economics 41(3): 293-305.Brown, W. O., E. Helland, and J. K. Smith. 2006. Corporate philanthropic practices. Journal of Corporate Finance 12(5): 855-877.Carroll, R., and D. Joulfaian. 2005. Taxes and corporate giving to charity. Public Finance Review 33(3): 300-317.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(1): 41-61.Cheung, Y. L., Y. Qi, P. R Rau, and A. Stouraitis. 2009. Buy high, sell low: How listed firms price asset transfers in related party transactions. Journal of Banking & Finance 33(5): 914-924.Christensen, J., and R. Murphy. 2004. The social irresponsibility of corporate tax avoidance: Taking CSR to the bottom line. Development 47(3): 37-44.Clotfelter, C. T. 1985. Federal Tax Policy and Charitable Giving. Chicago: University of Chicago Press.Desai, M. A., A. Dyck, and L. Zingales. 2007. Theft and taxes. Journal of Financial Economics 84(3): 591-623.Desai, M. A., and D. Dharmapala. 2006. Corporate tax avoidance and high-powered incentives. Journal of Financial Economics 79(1): 145-179.Desai, M. A., and D. Dharmapala. 2009. Corporate tax avoidance and firm value. The review of Economics and Statistics 91(3): 537-546.Dyreng, S. D., M. Hanlon, and E. L. Maydew. 2008. Long-run corporate tax avoidance. The Accounting Review 83(1): 61-82.Galaskiewicz, J. 1997. An urban grants economy revisited: Corporate charitable contributions in the Twin Cities, 1979-81, 1987-89. Administrative Science Quarterly, 445-471.Glaeser, E. L. 2003. The governance of not-for-profit organizations, Chicago: University of Chicago Press.Graham, J. R., and A. L. Tucker. 2006. Tax shelters and corporate debt policy. Journal of Financial Economics 81(3): 563-594.Greening, D. W., and D. B. Turban. 2000. Corporate social performance as a competitive advantage in attracting a quality workforce. Business & Society 39(3): 254-280.Hanlon, M. 2005. The persistence and pricing of earnings, accruals, and cash flows when firms have large book-tax differences. The Accounting Review 80(1): 137-166.Hanlon, M., and J. S lemrod. 2009. What does tax aggressiveness signal? Evidence from stock price reactions to news about tax shelter involvement. Journal of Public Economics 93(1): 126-141.Hanlon, M., and S. Heitzman. 2010. A review of tax research. Journal of Accounting and Economics 50(2): 127-178.Jensen, M. C., and W. H. Meckling. 1976. Theory of the firm: Managerial behavior, agency costs and ownership structure. Journal of financial economics 3(4): 305-360.Khurana, I. K., and W. J. Moser. 2012. Institutional shareholders` investment horizons and tax avoidance. The Journal of the American Taxation Association 35(1): 111-134.Kirchler, E., B. Maciejovsky and F. Schneider. 2003. Everyday representations of tax avoidance, tax evasion, and tax flight: Do legal differences matter? Journal of Economic Psychology 24(4): 535-553.Lev, B., C. Petrovits and S. Radhakrishnan. 2010. Is doing good good for you? How corporate charitable contributions enhance revenue growth. Strategic Management Journal 31(2): 182-200.Lisowsky, P. 2010. Seeking shelter: Empirically modeling tax shelters using financial statement information. The Accounting Review 85(5): 1693-1720.McGuire, S. T., T. C. Omer, and D. Wang. 2012. Tax avoidance: Does tax-specific industry expertise make a difference? The Accounting Review 87(3): 975-1003.Mills, L. F. 1998. Book-tax differences and Internal Revenue Service adjustments. Journal of Accounting Research 36 (2): 343-356.Navarro, P. 1988. Why do corporations give to charity? Journal of Business, 65-93.Neiheisel, S. R. 1994. Corporate strategy and the politics of goodwill. New York: Peter Lang.Organisation for Economic Co-operation and Development (OECD). 2009. Report on Abuse of Charities for Money-Laundering and Tax Evasion. Available at: https://www.oecd.org/tax/exchange-of-tax-information/42232037.pdf. Accessed: January 7, 2017.Petrovits, C. M. 2006. Corporate-sponsored foundations and earnings management. Journal of Accounting and Economics 41(3): 335-362.Phillips, J., M. Pincus, and S. Rego. 2003. Earnings management: New evidence based on deferred tax expense. The Accounting Review 78(2): 491-521.Rego, S. O. 2003. Tax‐avoidance activities of US multinational corporations. Contemporary Accounting Research 20(4): 805-833.Rego, S. O., and R. Wilson. 2012. Equity risk incentives and corporate tax aggressiveness. Journal of Accounting Research 50(3): 775-810.Trussel, J. 2003. Assessing potential accounting manipulation: The financial characteristics of charitable organizations with higher than expected program-spending ratios. Nonprofit and Voluntary Sector Quarterly 32(4): 616-634.Vermeer, T. E., C. T. Edmonds, and S. C. Asthana. 2014. Organizational Form and Accounting Choice: Are Nonprofit or For-Profit Managers More Aggressive? The Accounting Review 89(5): 1867-1893.Wang, M, 2016. Does The Impulse of Corporate Social Responsibility Mean Low Tax Avoidance? Evidence from Listed Companies’ Charitable Foundations. 2016 AFAANZ Conference. Symposium conducted in Gold Coast, Australia.Williamson, O. E. 1964. The economics of discretionary behavior: Managerial objectives in a theory of the firm. New Jersey: Prentice-Hall.Wilson, R. J. 2009. An examination of corporate tax shelter participants. The Accounting Review 84(3): 969-999.Yermack, D. 2009. Deductio’ad absurdum: CEOs donating their own stock to their own family foundations. Journal of Financial Economics 94(1): 107-123.Zimmerman, J. L. 1983. Taxes and firm size. Journal of Accounting and Economics 5, 119-149. zh_TW
