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題名 租稅規避對高階管理者異動之影響
The Impact of Tax Avoidance on Top Management Turnover
作者 簡士鈞
Chien, Shih-Chun
貢獻者 郭弘卿
簡士鈞
Chien, Shih-Chun
關鍵詞 租稅規避
高階管理者異動
Tax avoidance
top management turnover
日期 2019
上傳時間 7-Aug-2019 15:56:10 (UTC+8)
摘要 本文以2011至2016年間台灣上市櫃公司為研究對象，並以帳面有效稅率、現金有效稅率、財稅差異衡量租稅規避程度，探討租稅規避程度與高階管理者異動之關聯性。本文分別以羅吉特機率模型測試租稅規避程度對董事長與總經理異動的影響；以t檢定與MWW檢定檢驗董事長與總經理異動後對租稅規避程度的影響。實證結果顯示租稅規避程度較同業為高與董事長發生受迫性異動呈正相關，表示董事會對於董事長進行租稅規避所產生的聲譽損失、股價下跌等衍生成本，以及可能伴隨租稅規避發生的管理者操縱損益、內部控制效果下降、管理者自利行為等較為關心；而高階管理者發生異動後，租稅規避程度有反轉之現象，表示繼任者為滿足董事會的要求而改變企業的租稅策略，符合常識理論。
This study examines the relationship between corporate tax avoidance and top management turnover. I use the public company data dated 2010 to 2016 in Taiwan and measure the degree of tax avoidance by effective tax rates, cash effective tax rates, and book-tax difference. I established Logit model to investigate the relationship between corporate tax avoidance and chairman or CEO turnover. I also established t-test and MWW to investigate the change of corporate tax avoidance after the chairman or CEO turnover. The results show that chairman of the board is more likely to turnover when firm engage in higher tax avoidance, which indicate the board are more concern about non-tax cost such as reputation and potential price drop, and other complications such as earnings manipulation, loss in internal control, and management rent diversion. Also, degree of tax avoidance will turnover after the change of the top management, which indicate that successor of the top management will follow the request of the board and change the corporate tax strategy.
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吳德豐，2014，企業跨國稅務風險管理─以臺灣上市櫃公司為例，國立臺灣大學臺大-復旦EMBA境外專班未出版碩士論文。
吳德豐與謝淑美，2014，國際租稅要義與釋例：跨國投資經商 全球稅務治理，財團法人資誠教育基金會。
李佳玲、葉穎蓉與何晉滄，2005，績效、公司治理與高階管理者離職關係之實證研究，中山管理評論，第13卷第1期：75-106。
李馨蘋與劉清明，2007，從公司治理與企業績效之觀點看高階主管異動之因素，真理財經學報，第16期：1-21。
林有志、邱炳雲與高茂峰，2008，更換經理人對公司經營績效之影響，會計與公司治理，第5卷第2期：1-27。
林穎芬、祝道松與洪晨桓，2006，經濟附加價值與總經理更替之探討，當代會計，第7卷第1期：103-134。
張力、林翠蓉、侯啟娉與馬文利，2010，所有權型態、經理人行為與總經理異動關係之實證研究，台灣管理學刊，第10卷第2期：149-169。
郭佩文，2003，高階管理者更迭與公司績效、公司特性、與管理者特性關係之研究–以台灣上市公司為例–，朝陽科技大學財務金融系未出版碩士論文。
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卷第6期：739-763。
陳彥霓，2003，經理人異動對公司策略及績效影響之資訊意涵，國立政治大學財務管理研究所未出版碩士論文。
陳慧玲，2004，經理人異動與董事會特性關聯性之研究，國立政治大學會計學系未出版碩士論文。
楊朝旭與蔡柳卿，2003，總經理更換與相對績效評估，人力資源管理學報第3卷第1期：63-80。
葛克昌，1977，租稅規避之研究，臺大法學論叢，第6卷第2期：167-187。
遲銘俊，2004，董事會組成與股權結構對高階主管更迭、公司價值與績效之關聯性-以台灣上市(櫃)金融業及電子業為例，國立成功大學企業管理研究所未出版碩士論文。
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Badertscher, B. A., S. P. Katz, and S. O. Rego. 2013. The separation of ownership and control and corporate tax avoidance. Journal of Accounting and Economics 56 (2-3):228-250.
Barford, V., and G. Holt. 2013. Google, Amazon, Starbucks: The rise of `tax shaming`. BBC News Magazine, May 21. Available at: https://www.bbc.com/news/magazine-20560359. Accessed: June 16, 2019.
Beatty, R. P., and E. J. Zajac. 1987. CEO change and firm performance in large corporations: Succession effects and manager effects. Strategic Management Journal 8 (4):305-317.
Chen, K. P., and C. Y. C. Chu. 2005. Internal control versus external manipulation: A model of corporate income tax evasion. Rand Journal of Economics 36 (1):151-164.
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.
Christensen, D. M., D. S. Dhaliwal, S. Boivie, and S. D. Graffin. 2015. Top management conservatism and corporate risk strategies: Evidence from managers` personal political orientation and corporate tax avoidance. Strategic Management Journal 36 (12):1918-1938.
Chyz, J., F. B. Gaertner, A. Kausar, and L. Watson. 2019. Overconfidence and corporate tax policy. Review of Accounting Studies Forthcoming. Available at: https://ssrn.com/abstract=2408236. Accessed: June 16, 2019.
Chyz, J. A. 2013. Personally tax aggressive executives and corporate tax sheltering. Journal of Accounting and Economics 56 (2-3):311-328.
Chyz, J. A., and F. B. Gaertner. 2018. Can paying "too much" or "too little" tax contribute to forced CEO turnover? Accounting Review 93 (1):103-130.
Coughlan, A. T., and R. M. Schmidt. 1985. Executive-compensation, management turnover, and firm performance: An empirical-investigation. Journal of Accounting & Economics 7 (1-3):43-66.
Crocker, K. J., and J. Slemrod. 2005. Corporate tax evasion with agency costs. Journal of Public Economics 89 (9-10):1593-1610.
Dahya, J., J. J. McConnell, and N. G. Travlos. 2002. The Cadbury Committee, corporate performance, and top management turnover. Journal of Finance 57 (1):461-483.
Davidson III, W. N., D. L. Worrell, and L. Cheng. 1990. Key executive succession and stockholder wealth: The influence of successorys origin, position, and age. Journal of Management 16 (3):647-664.
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描述 碩士
國立政治大學
會計學系
106353026
資料來源 http://thesis.lib.nccu.edu.tw/record/#G1063530261
資料類型 thesis
dc.contributor.advisor 郭弘卿zh_TW
dc.contributor.author (Authors) 簡士鈞zh_TW
dc.contributor.author (Authors) Chien, Shih-Chunen_US
dc.creator (作者) 簡士鈞zh_TW
dc.creator (作者) Chien, Shih-Chunen_US
dc.date (日期) 2019en_US
dc.date.accessioned 7-Aug-2019 15:56:10 (UTC+8)-
dc.date.available 7-Aug-2019 15:56:10 (UTC+8)-
dc.date.issued (上傳時間) 7-Aug-2019 15:56:10 (UTC+8)-
dc.identifier (Other Identifiers) G1063530261en_US
dc.identifier.uri (URI) http://nccur.lib.nccu.edu.tw/handle/140.119/124676-
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) 106353026zh_TW
dc.description.abstract (摘要) 本文以2011至2016年間台灣上市櫃公司為研究對象，並以帳面有效稅率、現金有效稅率、財稅差異衡量租稅規避程度，探討租稅規避程度與高階管理者異動之關聯性。本文分別以羅吉特機率模型測試租稅規避程度對董事長與總經理異動的影響；以t檢定與MWW檢定檢驗董事長與總經理異動後對租稅規避程度的影響。實證結果顯示租稅規避程度較同業為高與董事長發生受迫性異動呈正相關，表示董事會對於董事長進行租稅規避所產生的聲譽損失、股價下跌等衍生成本，以及可能伴隨租稅規避發生的管理者操縱損益、內部控制效果下降、管理者自利行為等較為關心；而高階管理者發生異動後，租稅規避程度有反轉之現象，表示繼任者為滿足董事會的要求而改變企業的租稅策略，符合常識理論。zh_TW
dc.description.abstract (摘要) This study examines the relationship between corporate tax avoidance and top management turnover. I use the public company data dated 2010 to 2016 in Taiwan and measure the degree of tax avoidance by effective tax rates, cash effective tax rates, and book-tax difference. I established Logit model to investigate the relationship between corporate tax avoidance and chairman or CEO turnover. I also established t-test and MWW to investigate the change of corporate tax avoidance after the chairman or CEO turnover. The results show that chairman of the board is more likely to turnover when firm engage in higher tax avoidance, which indicate the board are more concern about non-tax cost such as reputation and potential price drop, and other complications such as earnings manipulation, loss in internal control, and management rent diversion. Also, degree of tax avoidance will turnover after the change of the top management, which indicate that successor of the top management will follow the request of the board and change the corporate tax strategy.en_US
dc.description.tableofcontents 壹、 緒論 1
一、 研究動機與研究目的 1
二、 研究架構 2
貳、 文獻回顧 4
一、 租稅規避 4
二、 高階管理者異動 8
參、 研究方法 14
一、 研究假說 14
二、 變數衡量 15
三、 實證模型 18
四、 資料來源與樣本選取 19
肆、 實證結果與分析 21
一、 敘述統計 21
二、 羅吉特機率模型分析 38
三、 t檢定與MWW檢定 52
伍、 結論與建議 61
一、 結論 61
二、 研究限制 61
參考文獻 63
中文部分 63
英文部分 64		zh_TW
dc.format.extent 906535 bytes-
dc.format.mimetype application/pdf-
dc.source.uri (資料來源) http://thesis.lib.nccu.edu.tw/record/#G1063530261en_US
dc.subject (關鍵詞) 租稅規避zh_TW
dc.subject (關鍵詞) 高階管理者異動zh_TW
dc.subject (關鍵詞) Tax avoidanceen_US
dc.subject (關鍵詞) top management turnoveren_US
dc.title (題名) 租稅規避對高階管理者異動之影響zh_TW
dc.title (題名) The Impact of Tax Avoidance on Top Management Turnoveren_US
dc.type (資料類型) thesisen_US
dc.relation.reference (參考文獻) 吳嘉勳，2013，租稅法，臺北市：華泰文化。
吳德豐，2014，企業跨國稅務風險管理─以臺灣上市櫃公司為例，國立臺灣大學臺大-復旦EMBA境外專班未出版碩士論文。
吳德豐與謝淑美，2014，國際租稅要義與釋例：跨國投資經商 全球稅務治理，財團法人資誠教育基金會。
李佳玲、葉穎蓉與何晉滄，2005，績效、公司治理與高階管理者離職關係之實證研究，中山管理評論，第13卷第1期：75-106。
李馨蘋與劉清明，2007，從公司治理與企業績效之觀點看高階主管異動之因素，真理財經學報，第16期：1-21。
林有志、邱炳雲與高茂峰，2008，更換經理人對公司經營績效之影響，會計與公司治理，第5卷第2期：1-27。
林穎芬、祝道松與洪晨桓，2006，經濟附加價值與總經理更替之探討，當代會計，第7卷第1期：103-134。
張力、林翠蓉、侯啟娉與馬文利，2010，所有權型態、經理人行為與總經理異動關係之實證研究，台灣管理學刊，第10卷第2期：149-169。
郭佩文，2003，高階管理者更迭與公司績效、公司特性、與管理者特性關係之研究–以台灣上市公司為例–，朝陽科技大學財務金融系未出版碩士論文。
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卷第6期：739-763。
陳彥霓，2003，經理人異動對公司策略及績效影響之資訊意涵，國立政治大學財務管理研究所未出版碩士論文。
陳慧玲，2004，經理人異動與董事會特性關聯性之研究，國立政治大學會計學系未出版碩士論文。
楊朝旭與蔡柳卿，2003，總經理更換與相對績效評估，人力資源管理學報第3卷第1期：63-80。
葛克昌，1977，租稅規避之研究，臺大法學論叢，第6卷第2期：167-187。
遲銘俊，2004，董事會組成與股權結構對高階主管更迭、公司價值與績效之關聯性-以台灣上市(櫃)金融業及電子業為例，國立成功大學企業管理研究所未出版碩士論文。
Armstrong, C. S., J. L. Blouin, A. D. Jagolinzer, and D. F. Larcker. 2015. Corporate governance, incentives, and tax avoidance. Journal of Accounting and Economics 60 (1):1-17.
Armstrong, C. S., J. L. Blouin, and D. F. Larcker. 2012. The incentives for tax planning. Journal of Accounting and Economics 53 (1-2):391-411.
Badertscher, B. A., S. P. Katz, and S. O. Rego. 2013. The separation of ownership and control and corporate tax avoidance. Journal of Accounting and Economics 56 (2-3):228-250.
Barford, V., and G. Holt. 2013. Google, Amazon, Starbucks: The rise of `tax shaming`. BBC News Magazine, May 21. Available at: https://www.bbc.com/news/magazine-20560359. Accessed: June 16, 2019.
Beatty, R. P., and E. J. Zajac. 1987. CEO change and firm performance in large corporations: Succession effects and manager effects. Strategic Management Journal 8 (4):305-317.
Chen, K. P., and C. Y. C. Chu. 2005. Internal control versus external manipulation: A model of corporate income tax evasion. Rand Journal of Economics 36 (1):151-164.
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.
Christensen, D. M., D. S. Dhaliwal, S. Boivie, and S. D. Graffin. 2015. Top management conservatism and corporate risk strategies: Evidence from managers` personal political orientation and corporate tax avoidance. Strategic Management Journal 36 (12):1918-1938.
Chyz, J., F. B. Gaertner, A. Kausar, and L. Watson. 2019. Overconfidence and corporate tax policy. Review of Accounting Studies Forthcoming. Available at: https://ssrn.com/abstract=2408236. Accessed: June 16, 2019.
Chyz, J. A. 2013. Personally tax aggressive executives and corporate tax sheltering. Journal of Accounting and Economics 56 (2-3):311-328.
Chyz, J. A., and F. B. Gaertner. 2018. Can paying "too much" or "too little" tax contribute to forced CEO turnover? Accounting Review 93 (1):103-130.
Coughlan, A. T., and R. M. Schmidt. 1985. Executive-compensation, management turnover, and firm performance: An empirical-investigation. Journal of Accounting & Economics 7 (1-3):43-66.
Crocker, K. J., and J. Slemrod. 2005. Corporate tax evasion with agency costs. Journal of Public Economics 89 (9-10):1593-1610.
Dahya, J., J. J. McConnell, and N. G. Travlos. 2002. The Cadbury Committee, corporate performance, and top management turnover. Journal of Finance 57 (1):461-483.
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dc.identifier.doi (DOI) 10.6814/NCCU201900456en_US