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題名 債務期限與租稅規避之關係 - 以台灣上市櫃公司為例
作者 梁芳瑜
Liang, Fang-Yu
貢獻者 何怡澄
梁芳瑜
Liang, Fang-Yu
關鍵詞 租稅規避
債務期限
資本結構
日期 2018
上傳時間 27-Jul-2018 11:24:48 (UTC+8)
摘要 本研究探討資本結構的負債部分中，即將到期之負債比例與租稅規避之關係，即將到期之負債比例可能會對該企業造成的其他影響，並以 2003 至 2013 年台灣上市櫃公司為研究對象。實證結果發現：(1) 債務中即將到期之部分與租稅規避程度呈負相關；(2) 債務中即將到期之部分與稅務風險並無顯著相關；(3) 債務中即將到期之部分與租稅天堂呈負相關，支持 (1) 之發現；(4) 債務中即將到期之部分與未來現金流量無顯著關係但與企業未來現金流量波動性呈正相關，最後在債務期限、租稅規避與現金持有量之交互關係的測試中，與先前實證結果相同，即將到期債務之比例與企業租稅規避程度呈負相關，另外發現企業租稅規避程度與其現金持有量呈負相關，可以推論即將到期債務之比例與企業現金持有量呈正相關。
參考文獻 王元章與辜儀芳，2003，資本結構的選擇、融資與負債清償規模，財務金融學刊，第11卷，第3期：35-87。
陳蘭蕙，2017，企業租稅規避與負債政策關聯性，國立臺北大學會計系碩士論文。
黃美祝與汪瑞芝，2015，企業避稅對負債水準之影響，會計審計論叢，第5卷，第2期：1-32。
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4卷，第1期：1-22。
葉銀華與邱顯比，1996，資本結構、股權結構與公司價值關聯性之實證研究：代理成本理論，臺大管理論叢，第7卷，第2期：57-90。
Auerbach, A., and J. Poterba. 1986. Tax loss carryforwards and corporate tax incentives. Working paper 1863, National Bureau of Economic Research.
Ozkan, Aydin. 2002. The determinants of corporate debt maturity: Evidence from UK firms. Applied Financial Economics 12(1): 19-24.
Balakrishnan, K., J. L. Blouin, and W. R. Guay. 2013. Does Tax Aggressiveness Reduce Corporate Transparency? Retrieved from http://dx.doi.org/10.2139/ssrn.1792783
Barclay, M., and C. Smith. 1995. The maturity structure of corporate debt. The Journal of Finance 50(2): 609-631.
Burgman, Todd. 1996. An empirical examination of multinational capital Structure. Journal of International Business Studies 27: 553-570.
Chen, Charles, C. S. Agnes Cheng, Jia He, and Jawon Kim. 1997. An investigation of the relationship between international activities and capital structure. Journal of International Business Studies 28: 563-577.
Chen, C. R., and T. L. Steiner. 1999. Managerial ownership and agency conflicts: A nonlinear simultaneous equation analysis of managerial ownership, risk taking, debt policy, and dividend policy. The Financial Review 34:119-136.
Childs, P. D., D. C. Mauer, and S. H. Ott. 2005. Interactions of corporate financing and investment decisions: the effects of agency conflicts. Journal of Financial Economics 76(3): 667-690.
Custodio, C., M. Ferreira, and L. Laureano. 2013. Why are us firms using more short-term debt?. Journal of Financial Economics 108(1): 182–212.
Datta, Sudip, Mai Iskandar-Datta, and Kartik Raman. 2005. Managerial stock ownership and the maturity structure of corporate debt. The Journal of Finance 60(5): 2333-2350.
DeAngeloa, Harry, Linda DeAngeloa, and Karen H. Wruckb. 2002. Asset liquidity, debt covenants, and managerialdiscretion in financial distress: the collapse of L.A. Gear.Journal of Financial Economics 64: 3–34
Dechow, Patricia M., and Ilia D. Dichev. 2002. The quality of accruals and earnings: The role of accrual estimation errors. The Accounting Review 77: 35-59.
Desai, M. A., C. F. Foley, and J. R. Hines. 2003. Economic effects of regional tax havens. Working Paper, National Bureau of Economic Research, No.10806.
Diamond, D. 1991. Monitoring and reputation: The choice between bank loans and directly placed debt. Journal of Political Economy. 99(4): 689-721.
Drake, Katharine D., Stephen J. Lusch, and James Stekelberg. Does tax risk affect investor valuation of tax avoidance?. Journal of Accounting, Auditing & Finance: 1–26.
Dyreng, S., M. Hanlon, and E. L. Maydew. 2008. Long-run corporate tax avoidance. The Accounting Review, 83(1): 61-82.
Dyreng, S., M. Hanlon, and E. L. Maydew. 2010. The effects of executives on corporate tax avoidance. The Accounting Review, 85(4): 1163-1189.
Dyreng, S., M. Hanlon, and E. L. Maydew. 2017. When does tax avoidance result in tax uncertainty? Working paper, Duke University.
Dyreng, S., and B. Lindsey. 2009. Using financial accounting data to examine the effect of foreign operations located in tax havens and other countries on U.S. multinational firms’ tax rates. Journal of Accounting Research, 47(5): 1283–1316.
Ferreira, Miguel A., and Antonio S. Vilela. 2004. Why do firms hold cash? Evidence from EMU countries. European Financial Management 10(2): 295-319.
Flannery, M. J. 1986. Asymmetric information and risky debt maturity choice. Journal of Finance 41(1): 19-37.
Fischer, E., R. Heinkel, and J. Zechner. 1989. Dynamic capital structure choice: Theory and tests. Journal of Finance 44(1): 19-40.
Foley, F., J. Hartzell, S. Titman, and G. Twite. 2007. Why do firms hold so much cash? A tax-based explanation. Journal of Financial Economics 86(3): 579–607.
Frank, M., L. Lynch, and S. Rego. 2009. Tax reporting aggressiveness and its relation to aggressive financial reporting. The Accounting Review 84(2): 467–496.
Gaertner, F. 2014. CEO After-tax Compensation Incentives and Corporate Tax Avoidance. Contemporary Accounting Research 31 (4): 1077-1102.
Graham, J. R., and A. L. Tucker. 2006. Tax shelters and corporate policy. Journal of Financial Economics 81(3): 563-594.
Guenther, D., S. Matsunaga, and B. Williams. 2013.Tax avoidance, tax aggressiveness, tax risk and firm risk. Working papers, Lundquist College ofBusiness.
Guenther, David A., Steven R. Matsunaga, and Brian M. Williams. 2017. Is Tax Avoidance related to firm risk?. The Accounting Review 92(1): 115-136.
Guney, Yilmaz, Aydin Ozkan and Neslihan Ozkan. 2003.Additional international evidence on corporate cash holdings,EFMA 2003 Helsinki Meetings. Available at SSRN: https://ssrn.com/abstract=406721.2003.
Gupta, M., I. Khurana, and R. Pereira. 2008. Legal enforcement, short maturity debt, and the incentive to manage earnings. Journal of Law and Economics 51(4): 619-639.
Hanlon, M., E. Maydew, and D. Saavedra. 2014. The taxman cometh: Does tax uncertainty affect corporate cash holdings? Review of Accounting Studies. 22(3): 1198-1228.
Hanlon, M., and S. Heitzman. 2010. A review of tax research. Journal of Accounting and Economics, 50 (2): 127-178.
Harford, J., S. Klasa, and W. Maxwell. 2014. Refinancing risk and cash holdings. The Journal of Finance 69(3): 975-1012.
Harwood, Elaine, and Gil B. Manzon. 2000. Tax clienteles and debt maturity. The Journal of the American Taxation Association 22(2): 22-39.
Hasan, I., C. K. Hoi, Q. Wu, and H. Zhang. 2014. Beauty is in the eye of the beholder: The effect of corporate tax avoidance on the cost of bank loans. Journal of Financial Economics, 113 (1): 109–130.
Hutchens, M. and S. O. Rego. 2015. Does greater tax risk lead to increased firm risk. Working paper, Indiana University.
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.
Johnson, S. A. 2003. Debt maturity and the effects of growth opportunities and liquidity risk on leverage. Review of Financial Studies 16(1): 209-236.
Jones, J. 1991. Earnings management during import relief investigations. Journal of Accounting Research 29: 193-228.
Kane, A., A. J. Marcus, and R. L. McDonald. 1985. Debt policy and the rate of return premium to leverage. Journal of Finance and Quantitative Analysis 20: 479–499.
Kubick, Thomas R., and G. Brandon Lockhart. 2017. Corporate tax aggressiveness and the maturity structure of debtAdvances in Accounting. 36: 50-57.
Khurana, I. K., and W. Moser 2009. Institutional Ownership and Tax Aggressiveness. AAA 2010 Financial Accounting and Reporting Section (FARS) Paper, Available at SSRN: https://ssrn.com/abstract=1464106.
Lisowsky, P., D. Mescall, G. Novack, and P. J. 2010. The importance of tax aggressiveness to corporateborrowing costs. Working papers, University of Illinois at Urbana-Champaign.
Mackie-Mason, J. K. 1990. Do taxes affect corporate financing decisions. Journal of Finance 45(5): 1471-1493.
Mansi, Sattar A., and Reeb, David M. 2002. Corporate international activity and debt financing. Journal of International Business Studies: 33(1): 129-147.
Markle, K., and Shackelford, D. 2012. Cross-country comparisons of corporate income tax rates. National Tax Journal 65: 493-528.
Miller, M. H. 1977. Debt and taxes. Journal of Finance 32(2): 261-275.
Mintona, B. A., and C. Schrand. 1999. The impact of cash flow volatility on discretionary investment and the costs of debt and equity financing. Journal of Financial Economics 54(3): 423-460.
Myers, S. 1977. Determinants of corporate borrowing. Journal of Financial Economics 5(2): 147-175.
Nejadmalayeri, A., and M. Singh. 2012. Corporate taxes, strategic default, and the cost of debt. Journal of Banking and Finance 36(11): 2900-2916.
Ozkan, Aydin. 2002. The determinants of corporate debt maturity: Evidence from UK firms. Applied Financial Economics 12(1): 19-24.
Platikanova, P. 2016. Debt maturity and tax avoidance. The European Accounting Review 26(1): 97-124.
Rajan, R., and A. Winton. 1995. Covenants and collateral as incentives to monitor. The Journal of Finance 50(4): 1113-1146.
Rao, Ramesh P., and T. Robert. Yu. 2013. Corporate tax avoidance and debt policy. Working paper, Oklahoma State University, available at http://dx.doi.org/10.2139/ssrn.2352646.
Reeb, David M., Sattar A. Mansi, and John M. Allee. 2001. Firm internationalization and the cost of debt financing: evidence from non-provisional publicly traded debt. The Journal of Financial and Quantitative Analysis 36(3): 395-414.
Scholes, M.S. and M. A. Wolfson. 1992. Taxes and Business Strategy: A Planning Approach. New Jersey: Prentice Hall, Englewood Cliffs.
Shevlin, T., O. Urcan, and R. Vasvari. 2013. Corporate tax avoidance and public debt costs. Working paper, University of California.
Smith, C., and R. Watts. 1992. The investment opportunity set and corporate financing, dividend, and compensation policies. Journal of Financial Economics 32(3): 263-292.
Titman, S., and R. Wessels. 1988. The determinants of capital structure choice. The Journal of Finance 43(1), 1–19.
Williamson, O. 1988. Corporate finance and corporate governance. The Journal of Finance 43(3): 567-591.
描述 碩士
國立政治大學
會計學系
105353115
資料來源 http://thesis.lib.nccu.edu.tw/record/#G1053531151
資料類型 thesis
dc.contributor.advisor 何怡澄zh_TW
dc.contributor.author (Authors) 梁芳瑜zh_TW
dc.contributor.author (Authors) Liang, Fang-Yuen_US
dc.creator (作者) 梁芳瑜zh_TW
dc.creator (作者) Liang, Fang-Yuen_US
dc.date (日期) 2018en_US
dc.date.accessioned 27-Jul-2018 11:24:48 (UTC+8)-
dc.date.available 27-Jul-2018 11:24:48 (UTC+8)-
dc.date.issued (上傳時間) 27-Jul-2018 11:24:48 (UTC+8)-
dc.identifier (Other Identifiers) G1053531151en_US
dc.identifier.uri (URI) http://nccur.lib.nccu.edu.tw/handle/140.119/118930-
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) 105353115zh_TW
dc.description.abstract (摘要) 本研究探討資本結構的負債部分中，即將到期之負債比例與租稅規避之關係，即將到期之負債比例可能會對該企業造成的其他影響，並以 2003 至 2013 年台灣上市櫃公司為研究對象。實證結果發現：(1) 債務中即將到期之部分與租稅規避程度呈負相關；(2) 債務中即將到期之部分與稅務風險並無顯著相關；(3) 債務中即將到期之部分與租稅天堂呈負相關，支持 (1) 之發現；(4) 債務中即將到期之部分與未來現金流量無顯著關係但與企業未來現金流量波動性呈正相關，最後在債務期限、租稅規避與現金持有量之交互關係的測試中，與先前實證結果相同，即將到期債務之比例與企業租稅規避程度呈負相關，另外發現企業租稅規避程度與其現金持有量呈負相關，可以推論即將到期債務之比例與企業現金持有量呈正相關。zh_TW
dc.description.tableofcontents 致謝辭 I
中文摘要 III
第一章 緒論 1
第一節 研究動機 1
第二節 研究目的 2
第三節 研究流程 3
第二章 文獻回顧與假說發展 5
第一節 資本結構 6
第二節 債務契約 7
第三節 租稅規避 8
第四節 債務期限與租稅規避 9
第五節 債務期限與稅務風險 11
第六節 債務期限與租稅天堂 12
第三章 研究方法 14
第一節 資料來源與樣本篩選 14
第二節 被解釋變數 16
第三節 解釋變數 17
第四節 其他解釋變數 18
第五節 控制變數 19
第六節 研究模型 25
第四章 實證結果 29
第一節 樣本敘述統計 29
第二節 迴歸結果分析 38
第三節 額外測試一 50
第四節 額外測試二 55
第五章 結論與研究限制 60
第一節 結論與建議 60
第二節 研究限制 62
參考文獻 63
附 錄 68		zh_TW
dc.source.uri (資料來源) http://thesis.lib.nccu.edu.tw/record/#G1053531151en_US
dc.subject (關鍵詞) 租稅規避zh_TW
dc.subject (關鍵詞) 債務期限zh_TW
dc.subject (關鍵詞) 資本結構zh_TW
dc.title (題名) 債務期限與租稅規避之關係 - 以台灣上市櫃公司為例zh_TW
dc.type (資料類型) thesisen_US
dc.relation.reference (參考文獻) 王元章與辜儀芳，2003，資本結構的選擇、融資與負債清償規模，財務金融學刊，第11卷，第3期：35-87。
陳蘭蕙，2017，企業租稅規避與負債政策關聯性，國立臺北大學會計系碩士論文。
黃美祝與汪瑞芝，2015，企業避稅對負債水準之影響，會計審計論叢，第5卷，第2期：1-32。
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4卷，第1期：1-22。
葉銀華與邱顯比，1996，資本結構、股權結構與公司價值關聯性之實證研究：代理成本理論，臺大管理論叢，第7卷，第2期：57-90。
Auerbach, A., and J. Poterba. 1986. Tax loss carryforwards and corporate tax incentives. Working paper 1863, National Bureau of Economic Research.
Ozkan, Aydin. 2002. The determinants of corporate debt maturity: Evidence from UK firms. Applied Financial Economics 12(1): 19-24.
Balakrishnan, K., J. L. Blouin, and W. R. Guay. 2013. Does Tax Aggressiveness Reduce Corporate Transparency? Retrieved from http://dx.doi.org/10.2139/ssrn.1792783
Barclay, M., and C. Smith. 1995. The maturity structure of corporate debt. The Journal of Finance 50(2): 609-631.
Burgman, Todd. 1996. An empirical examination of multinational capital Structure. Journal of International Business Studies 27: 553-570.
Chen, Charles, C. S. Agnes Cheng, Jia He, and Jawon Kim. 1997. An investigation of the relationship between international activities and capital structure. Journal of International Business Studies 28: 563-577.
Chen, C. R., and T. L. Steiner. 1999. Managerial ownership and agency conflicts: A nonlinear simultaneous equation analysis of managerial ownership, risk taking, debt policy, and dividend policy. The Financial Review 34:119-136.
Childs, P. D., D. C. Mauer, and S. H. Ott. 2005. Interactions of corporate financing and investment decisions: the effects of agency conflicts. Journal of Financial Economics 76(3): 667-690.
Custodio, C., M. Ferreira, and L. Laureano. 2013. Why are us firms using more short-term debt?. Journal of Financial Economics 108(1): 182–212.
Datta, Sudip, Mai Iskandar-Datta, and Kartik Raman. 2005. Managerial stock ownership and the maturity structure of corporate debt. The Journal of Finance 60(5): 2333-2350.
DeAngeloa, Harry, Linda DeAngeloa, and Karen H. Wruckb. 2002. Asset liquidity, debt covenants, and managerialdiscretion in financial distress: the collapse of L.A. Gear.Journal of Financial Economics 64: 3–34
Dechow, Patricia M., and Ilia D. Dichev. 2002. The quality of accruals and earnings: The role of accrual estimation errors. The Accounting Review 77: 35-59.
Desai, M. A., C. F. Foley, and J. R. Hines. 2003. Economic effects of regional tax havens. Working Paper, National Bureau of Economic Research, No.10806.
Diamond, D. 1991. Monitoring and reputation: The choice between bank loans and directly placed debt. Journal of Political Economy. 99(4): 689-721.
Drake, Katharine D., Stephen J. Lusch, and James Stekelberg. Does tax risk affect investor valuation of tax avoidance?. Journal of Accounting, Auditing & Finance: 1–26.
Dyreng, S., M. Hanlon, and E. L. Maydew. 2008. Long-run corporate tax avoidance. The Accounting Review, 83(1): 61-82.
Dyreng, S., M. Hanlon, and E. L. Maydew. 2010. The effects of executives on corporate tax avoidance. The Accounting Review, 85(4): 1163-1189.
Dyreng, S., M. Hanlon, and E. L. Maydew. 2017. When does tax avoidance result in tax uncertainty? Working paper, Duke University.
Dyreng, S., and B. Lindsey. 2009. Using financial accounting data to examine the effect of foreign operations located in tax havens and other countries on U.S. multinational firms’ tax rates. Journal of Accounting Research, 47(5): 1283–1316.
Ferreira, Miguel A., and Antonio S. Vilela. 2004. Why do firms hold cash? Evidence from EMU countries. European Financial Management 10(2): 295-319.
Flannery, M. J. 1986. Asymmetric information and risky debt maturity choice. Journal of Finance 41(1): 19-37.
Fischer, E., R. Heinkel, and J. Zechner. 1989. Dynamic capital structure choice: Theory and tests. Journal of Finance 44(1): 19-40.
Foley, F., J. Hartzell, S. Titman, and G. Twite. 2007. Why do firms hold so much cash? A tax-based explanation. Journal of Financial Economics 86(3): 579–607.
Frank, M., L. Lynch, and S. Rego. 2009. Tax reporting aggressiveness and its relation to aggressive financial reporting. The Accounting Review 84(2): 467–496.
Gaertner, F. 2014. CEO After-tax Compensation Incentives and Corporate Tax Avoidance. Contemporary Accounting Research 31 (4): 1077-1102.
Graham, J. R., and A. L. Tucker. 2006. Tax shelters and corporate policy. Journal of Financial Economics 81(3): 563-594.
Guenther, D., S. Matsunaga, and B. Williams. 2013.Tax avoidance, tax aggressiveness, tax risk and firm risk. Working papers, Lundquist College ofBusiness.
Guenther, David A., Steven R. Matsunaga, and Brian M. Williams. 2017. Is Tax Avoidance related to firm risk?. The Accounting Review 92(1): 115-136.
Guney, Yilmaz, Aydin Ozkan and Neslihan Ozkan. 2003.Additional international evidence on corporate cash holdings,EFMA 2003 Helsinki Meetings. Available at SSRN: https://ssrn.com/abstract=406721.2003.
Gupta, M., I. Khurana, and R. Pereira. 2008. Legal enforcement, short maturity debt, and the incentive to manage earnings. Journal of Law and Economics 51(4): 619-639.
Hanlon, M., E. Maydew, and D. Saavedra. 2014. The taxman cometh: Does tax uncertainty affect corporate cash holdings? Review of Accounting Studies. 22(3): 1198-1228.
Hanlon, M., and S. Heitzman. 2010. A review of tax research. Journal of Accounting and Economics, 50 (2): 127-178.
Harford, J., S. Klasa, and W. Maxwell. 2014. Refinancing risk and cash holdings. The Journal of Finance 69(3): 975-1012.
Harwood, Elaine, and Gil B. Manzon. 2000. Tax clienteles and debt maturity. The Journal of the American Taxation Association 22(2): 22-39.
Hasan, I., C. K. Hoi, Q. Wu, and H. Zhang. 2014. Beauty is in the eye of the beholder: The effect of corporate tax avoidance on the cost of bank loans. Journal of Financial Economics, 113 (1): 109–130.
Hutchens, M. and S. O. Rego. 2015. Does greater tax risk lead to increased firm risk. Working paper, Indiana University.
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.
Johnson, S. A. 2003. Debt maturity and the effects of growth opportunities and liquidity risk on leverage. Review of Financial Studies 16(1): 209-236.
Jones, J. 1991. Earnings management during import relief investigations. Journal of Accounting Research 29: 193-228.
Kane, A., A. J. Marcus, and R. L. McDonald. 1985. Debt policy and the rate of return premium to leverage. Journal of Finance and Quantitative Analysis 20: 479–499.
Kubick, Thomas R., and G. Brandon Lockhart. 2017. Corporate tax aggressiveness and the maturity structure of debtAdvances in Accounting. 36: 50-57.
Khurana, I. K., and W. Moser 2009. Institutional Ownership and Tax Aggressiveness. AAA 2010 Financial Accounting and Reporting Section (FARS) Paper, Available at SSRN: https://ssrn.com/abstract=1464106.
Lisowsky, P., D. Mescall, G. Novack, and P. J. 2010. The importance of tax aggressiveness to corporateborrowing costs. Working papers, University of Illinois at Urbana-Champaign.
Mackie-Mason, J. K. 1990. Do taxes affect corporate financing decisions. Journal of Finance 45(5): 1471-1493.
Mansi, Sattar A., and Reeb, David M. 2002. Corporate international activity and debt financing. Journal of International Business Studies: 33(1): 129-147.
Markle, K., and Shackelford, D. 2012. Cross-country comparisons of corporate income tax rates. National Tax Journal 65: 493-528.
Miller, M. H. 1977. Debt and taxes. Journal of Finance 32(2): 261-275.
Mintona, B. A., and C. Schrand. 1999. The impact of cash flow volatility on discretionary investment and the costs of debt and equity financing. Journal of Financial Economics 54(3): 423-460.
Myers, S. 1977. Determinants of corporate borrowing. Journal of Financial Economics 5(2): 147-175.
Nejadmalayeri, A., and M. Singh. 2012. Corporate taxes, strategic default, and the cost of debt. Journal of Banking and Finance 36(11): 2900-2916.
Ozkan, Aydin. 2002. The determinants of corporate debt maturity: Evidence from UK firms. Applied Financial Economics 12(1): 19-24.
Platikanova, P. 2016. Debt maturity and tax avoidance. The European Accounting Review 26(1): 97-124.
Rajan, R., and A. Winton. 1995. Covenants and collateral as incentives to monitor. The Journal of Finance 50(4): 1113-1146.
Rao, Ramesh P., and T. Robert. Yu. 2013. Corporate tax avoidance and debt policy. Working paper, Oklahoma State University, available at http://dx.doi.org/10.2139/ssrn.2352646.
Reeb, David M., Sattar A. Mansi, and John M. Allee. 2001. Firm internationalization and the cost of debt financing: evidence from non-provisional publicly traded debt. The Journal of Financial and Quantitative Analysis 36(3): 395-414.
Scholes, M.S. and M. A. Wolfson. 1992. Taxes and Business Strategy: A Planning Approach. New Jersey: Prentice Hall, Englewood Cliffs.
Shevlin, T., O. Urcan, and R. Vasvari. 2013. Corporate tax avoidance and public debt costs. Working paper, University of California.
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dc.identifier.doi (DOI) 10.6814/THE.NCCU.ACCT.032.2018.F07-