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題名 租稅規避與成本不對稱性－以台灣上市櫃公司為例
Tax Avoidance and Cost Asymmetry─Evidence from Listed Company in Taiwan
作者 張雅舒
Chang, Ya-Shu
貢獻者 何怡澄
Ho, Yi-Cheng
張雅舒
Chang, Ya-Shu
關鍵詞 成本僵固性
成本不對稱性
租稅規避
日期 2018
上傳時間 27-Aug-2018 14:36:18 (UTC+8)
摘要 本研究探討企業從事租稅規避與成本不對稱性的關聯性。傳統成本模型認為成本具有對稱性，但Anderson, Banker, and Janakiraman (2003)（ABJ）分析管銷費用（selling, general and administration costs, SG&A costs）與銷貨收入關聯發現該成本具不對稱性，亦即成本僵固性（cost stickiness）。Banker, Byzalov, Ciftci, and Mashruwala (2014)（BBCM）以前期銷貨收入變動作為管理階層預期替代變數，發現在前期銷貨收入增加(減少)時，成本(反)僵固性。Xu and Zheng (2016)採用單期的ABJ模型，分析企業租稅規避對成本不對稱性的影響。本文採用兩期的BBCM模型探討，探討臺灣上市櫃公司租稅規避與成本不對稱性的關聯性。\r\n本研究採用台灣上市櫃公司在2007-2016年共9,403個觀察值，採橫斷面迴歸分析。實證結果發現，首先，一般管銷費用具有成本僵固性但不具有成本反僵固性；其次，使用五年期現金有效稅率衡量公司租稅規避行為，並發現公司避稅行為帶來之經濟利益會使管理階層在當期銷貨收入下降時有餘裕保留額外資源導致成本僵固性增加；第三，但在前期銷貨收入減少時避稅之影響則不顯著；第四，且公司不同的商業策略及現金流量波動性高低並不影響公司其租稅規避行為對成本僵固性之關聯。
參考文獻 林有志、傅鍾仁和陳筱平，2011，成本僵固性之實證研究，當代會計，第12卷第2期（11月）：191-220。\r\n許文馨和劉心才，2018，公司避稅和金字塔結構，臺大管理論叢，第28卷第1期（4月）：1-42。\r\n陳建中和林家豪，2017，前期銷貨變動方向對成本習性及不對稱性之調節效果－臺灣之實證，會計審計論叢，第7卷第1期（6月）：1-41。\r\n黃美祝和汪瑞芝，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（12月）：1-32。\r\n黃美祝和楊佩璇，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（11月）：1-22。\r\n薛敏正、林于璿和邱彥毅，2017，避稅行為與資訊透明度之關聯性研究，管理學報，第34卷第2期：167-187。\r\nAnderson, M. C., R. D. Banker, and S. N. Janakiraman. 2003. Are selling, general,administrative costs \"sticky\"? Journal of Accounting Research 41 (1):47-63.\r\nBalakrishnan, R., M. J. Petersen, and N. Soderstrom. 2004. Does Capacity Utilization Affect the \"Stickiness\" of Cost? JOurnal of Accounting, Auditing & Finance 19:283-299.\r\nBanker, R. D., and D. Byzalov. 2014. Asymmetric cost behavior. Journal of Management Accounting Research 26 (2):43-79.\r\nBanker, R. D., D. Byzalov, and L. Chen. 2013. Employment Protection Legislation, Adjustment Costs and Cross-country Differences in Cost Behavior. Journal of Accounting and Economics 55 (1):111-127.\r\nBanker, R. D., D. Byzalov, M. Ciftci, and R. Mashruwala. 2014. The Moderating Effect of Prior Sales Changes on Asymmetric Cost Behavior. Journal of Management Accounting Research 26 (2):221-242.\r\nBanker, R. D., and L. Chen. 2006. Predicting Earnings Using a Model Based on Cost Variability and Cost Stickiness. The Accounting Review 81 (2):285-307.\r\nChen, C. X., H. Lu, and T. Sougiannis. 2012. The Agency Problem, Corporate Governance, and the Asymmetrical Behavior of Selling, General, and Administrative Costs. Contemporary Accounting Research 29 (1):252-282.\r\nChen, 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.\r\nDyreng, S. D., M. Hanlon, and E. L. Maydew. 2008. Long-Run Corporate Tax Avoidance. The Accounting Review 83 (1):61-82.\r\n———. 2017. When Does Tax Avoidance Result in Tax Uncertainty? working paper.\r\nGaertner, F. B. 2014. CEO After-Tax Compensation Incentives and Corporate Tax Avoidance. Contemporary Accounting Research 31 (4):1077-1102.\r\nGoh, B. W., J. Lee, C. Y. Lim, and T. Shevlin. 2016. The Effect of Corporate Tax Avoidance on the Cost of Equity. The Accounting Review 91 (6):1647-1670.\r\nHanlon, M., and S. Heitzman. 2010. A review of tax research. Journal of Accounting and Economics, 127-178.\r\nHanlon, M., and E. L. Maydew. 2017. The taxman cometh: Does Tax Uncertainty Affect Corporate Cash Holdings? Review of Accounting Studies 22:1198-1228.\r\nHasan, 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 113:109-130.\r\nHiggins, D., T. C. Omer, and J. D. Phillips. 2015. The Influence of a Firm`s Business Strategy on its Tax Aggressiveness. Contemporary Accounting Research 32 (2):674-702.\r\nJacob, M., K. Wentland, and S. A. Wentland. 2014. Firm Tax Uncertainty, Cash Holdings, and The Timing of Large Investment. In Proceedings of the Annual Conference on Taxation, 1-50.\r\nKama, I., and D. Weiss. 2012. Do Earnings Targets and Managerial Incentives Affect Sticky Costs? Journal of Accounting Research.\r\nMcGuire, S. T., D. Wang, and R. J. Wilson. 2014. Dual Class Ownership and Tax Avoidance. The Accounting Review 89 (4):1487-1586.\r\nMiles, R. E., C. C. Snow, A. D. Meyer, and J. Coleman, Henry J. 1978. Organizational Strategy, Structure, and Process. Academy of Management Review 3 (3):546-562.\r\nMinton, 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 54:423-460.\r\nNoreen, E., and N. Soderstrom. 1997. The Accuracy of Proportional Cost Models: Evidence from Hospital Service Departments. Review of Accounting Studies 2:89-114.\r\nSlemrod, J. 2004. The Economics of Corporate Tax Selfishness. National Tax Journal 57:877-899.\r\nSlemrod, J., and S. Yitzhaki. 2002. Tax Avoidanc, Evasion, and Administration. In Handbook of Public Economics, edited by A. J. Auerbach and M. Feldstein. Amsterdam: Elsevier Science, 1423-1470.\r\nWang, L. 2015. Tax Enforcement, Corporate Tax aggressiveness, and Cash Holdings. China Finace Review International 5 (4):339-370.\r\nWasley, C. E., and J. S. Wu. 2006. Why do managers voluntarily issue cash flow forecasts? Journal of Accounting Research 44 (2):389-429.\r\nWeisbach, D. A. 2003. Corporate Tax Avoidance. Proceedings. Annual Conference on Taxation and Minutes of the Annual Meeting of the National Tax Association 96:9-15.\r\nWeiss, D. 2010. Cost Behavior and Analysts` Earnings Forecasts. The Accounting Review 85 (4):1441-1471.\r\nXu, S., and K. Zheng. 2016. Tax Avoidance and Asymmetric Cost Behavior. working paper: University of Wyoming.
描述 碩士
國立政治大學
會計學系
105353109
資料來源 http://thesis.lib.nccu.edu.tw/record/#G0105353109
資料類型 thesis
dc.contributor.advisor 何怡澄zh_TW
dc.contributor.advisor Ho, Yi-Chengen_US
dc.contributor.author (Authors) 張雅舒zh_TW
dc.contributor.author (Authors) Chang, Ya-Shuen_US
dc.creator (作者) 張雅舒zh_TW
dc.creator (作者) Chang, Ya-Shuen_US
dc.date (日期) 2018en_US
dc.date.accessioned 27-Aug-2018 14:36:18 (UTC+8)-
dc.date.available 27-Aug-2018 14:36:18 (UTC+8)-
dc.date.issued (上傳時間) 27-Aug-2018 14:36:18 (UTC+8)-
dc.identifier (Other Identifiers) G0105353109en_US
dc.identifier.uri (URI) https://ah.lib.nccu.edu.tw/item?item_id=137473-
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) 105353109zh_TW
dc.description.abstract (摘要) 本研究探討企業從事租稅規避與成本不對稱性的關聯性。傳統成本模型認為成本具有對稱性，但Anderson, Banker, and Janakiraman (2003)（ABJ）分析管銷費用（selling, general and administration costs, SG&A costs）與銷貨收入關聯發現該成本具不對稱性，亦即成本僵固性（cost stickiness）。Banker, Byzalov, Ciftci, and Mashruwala (2014)（BBCM）以前期銷貨收入變動作為管理階層預期替代變數，發現在前期銷貨收入增加(減少)時，成本(反)僵固性。Xu and Zheng (2016)採用單期的ABJ模型，分析企業租稅規避對成本不對稱性的影響。本文採用兩期的BBCM模型探討，探討臺灣上市櫃公司租稅規避與成本不對稱性的關聯性。\r\n本研究採用台灣上市櫃公司在2007-2016年共9,403個觀察值，採橫斷面迴歸分析。實證結果發現，首先，一般管銷費用具有成本僵固性但不具有成本反僵固性；其次，使用五年期現金有效稅率衡量公司租稅規避行為，並發現公司避稅行為帶來之經濟利益會使管理階層在當期銷貨收入下降時有餘裕保留額外資源導致成本僵固性增加；第三，但在前期銷貨收入減少時避稅之影響則不顯著；第四，且公司不同的商業策略及現金流量波動性高低並不影響公司其租稅規避行為對成本僵固性之關聯。zh_TW
dc.description.tableofcontents 第一章 緒論 1\r\n第一節 研究背景與動機 1\r\n第二節 研究目的 4\r\n第三節 研究流程 5\r\n第二章 文獻探討與研究假說 6\r\n第一節 租稅規避 7\r\n第二節 成本不對稱性 9\r\n第三節 研究假說發展 12\r\n第三章 研究方法 17\r\n第一節 資料來源與樣本篩選 17\r\n第二節 租稅規避指標 18\r\n第三節 成本不對稱行為模型 19\r\n第四節 研究模型 21\r\n第四章 實證結果 24\r\n第一節 敘述性統計 24\r\n第二節 迴歸分析 27\r\n第三節 敏感性分析 44\r\n第五章 結論與研究限制 47\r\n第一節 結論 47\r\n第二節 研究限制與建議 48\r\n參考文獻 50\r\n附錄 53zh_TW
dc.source.uri (資料來源) http://thesis.lib.nccu.edu.tw/record/#G0105353109en_US
dc.subject (關鍵詞) 成本僵固性zh_TW
dc.subject (關鍵詞) 成本不對稱性zh_TW
dc.subject (關鍵詞) 租稅規避zh_TW
dc.title (題名) 租稅規避與成本不對稱性－以台灣上市櫃公司為例zh_TW
dc.title (題名) Tax Avoidance and Cost Asymmetry─Evidence from Listed Company in Taiwanen_US
dc.type (資料類型) thesisen_US
dc.relation.reference (參考文獻) 林有志、傅鍾仁和陳筱平，2011，成本僵固性之實證研究，當代會計，第12卷第2期（11月）：191-220。\r\n許文馨和劉心才，2018，公司避稅和金字塔結構，臺大管理論叢，第28卷第1期（4月）：1-42。\r\n陳建中和林家豪，2017，前期銷貨變動方向對成本習性及不對稱性之調節效果－臺灣之實證，會計審計論叢，第7卷第1期（6月）：1-41。\r\n黃美祝和汪瑞芝，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（12月）：1-32。\r\n黃美祝和楊佩璇，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（11月）：1-22。\r\n薛敏正、林于璿和邱彥毅，2017，避稅行為與資訊透明度之關聯性研究，管理學報，第34卷第2期：167-187。\r\nAnderson, M. C., R. D. Banker, and S. N. Janakiraman. 2003. Are selling, general,administrative costs \"sticky\"? Journal of Accounting Research 41 (1):47-63.\r\nBalakrishnan, R., M. J. Petersen, and N. Soderstrom. 2004. Does Capacity Utilization Affect the \"Stickiness\" of Cost? JOurnal of Accounting, Auditing & Finance 19:283-299.\r\nBanker, R. D., and D. Byzalov. 2014. Asymmetric cost behavior. Journal of Management Accounting Research 26 (2):43-79.\r\nBanker, R. D., D. Byzalov, and L. Chen. 2013. Employment Protection Legislation, Adjustment Costs and Cross-country Differences in Cost Behavior. Journal of Accounting and Economics 55 (1):111-127.\r\nBanker, R. D., D. Byzalov, M. Ciftci, and R. Mashruwala. 2014. The Moderating Effect of Prior Sales Changes on Asymmetric Cost Behavior. Journal of Management Accounting Research 26 (2):221-242.\r\nBanker, R. D., and L. Chen. 2006. Predicting Earnings Using a Model Based on Cost Variability and Cost Stickiness. The Accounting Review 81 (2):285-307.\r\nChen, C. X., H. Lu, and T. Sougiannis. 2012. The Agency Problem, Corporate Governance, and the Asymmetrical Behavior of Selling, General, and Administrative Costs. Contemporary Accounting Research 29 (1):252-282.\r\nChen, 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.\r\nDyreng, S. D., M. Hanlon, and E. L. Maydew. 2008. Long-Run Corporate Tax Avoidance. The Accounting Review 83 (1):61-82.\r\n———. 2017. When Does Tax Avoidance Result in Tax Uncertainty? working paper.\r\nGaertner, F. B. 2014. CEO After-Tax Compensation Incentives and Corporate Tax Avoidance. Contemporary Accounting Research 31 (4):1077-1102.\r\nGoh, B. W., J. Lee, C. Y. Lim, and T. Shevlin. 2016. The Effect of Corporate Tax Avoidance on the Cost of Equity. The Accounting Review 91 (6):1647-1670.\r\nHanlon, M., and S. Heitzman. 2010. A review of tax research. Journal of Accounting and Economics, 127-178.\r\nHanlon, M., and E. L. Maydew. 2017. The taxman cometh: Does Tax Uncertainty Affect Corporate Cash Holdings? Review of Accounting Studies 22:1198-1228.\r\nHasan, 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 113:109-130.\r\nHiggins, D., T. C. Omer, and J. D. Phillips. 2015. The Influence of a Firm`s Business Strategy on its Tax Aggressiveness. Contemporary Accounting Research 32 (2):674-702.\r\nJacob, M., K. Wentland, and S. A. Wentland. 2014. Firm Tax Uncertainty, Cash Holdings, and The Timing of Large Investment. In Proceedings of the Annual Conference on Taxation, 1-50.\r\nKama, I., and D. Weiss. 2012. Do Earnings Targets and Managerial Incentives Affect Sticky Costs? Journal of Accounting Research.\r\nMcGuire, S. T., D. Wang, and R. J. Wilson. 2014. Dual Class Ownership and Tax Avoidance. The Accounting Review 89 (4):1487-1586.\r\nMiles, R. E., C. C. Snow, A. D. Meyer, and J. Coleman, Henry J. 1978. Organizational Strategy, Structure, and Process. Academy of Management Review 3 (3):546-562.\r\nMinton, 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 54:423-460.\r\nNoreen, E., and N. Soderstrom. 1997. The Accuracy of Proportional Cost Models: Evidence from Hospital Service Departments. Review of Accounting Studies 2:89-114.\r\nSlemrod, J. 2004. The Economics of Corporate Tax Selfishness. National Tax Journal 57:877-899.\r\nSlemrod, J., and S. Yitzhaki. 2002. Tax Avoidanc, Evasion, and Administration. In Handbook of Public Economics, edited by A. J. Auerbach and M. Feldstein. Amsterdam: Elsevier Science, 1423-1470.\r\nWang, L. 2015. Tax Enforcement, Corporate Tax aggressiveness, and Cash Holdings. China Finace Review International 5 (4):339-370.\r\nWasley, C. E., and J. S. Wu. 2006. Why do managers voluntarily issue cash flow forecasts? Journal of Accounting Research 44 (2):389-429.\r\nWeisbach, D. A. 2003. Corporate Tax Avoidance. Proceedings. Annual Conference on Taxation and Minutes of the Annual Meeting of the National Tax Association 96:9-15.\r\nWeiss, D. 2010. Cost Behavior and Analysts` Earnings Forecasts. The Accounting Review 85 (4):1441-1471.\r\nXu, S., and K. Zheng. 2016. Tax Avoidance and Asymmetric Cost Behavior. working paper: University of Wyoming.zh_TW
dc.identifier.doi (DOI) 10.6814/THE.NCCU.ACCT.039.2018.F07-