- 學位論文
兩稅合一新制對企業盈餘穩健度之影響-以Basu模型分析
The Influence of the New Integrated Income Tax System on Corporate Earnings Conservatism－Base on Basu model
摘要
摘要 本研究以租稅因素做為主要探討原因，研究兩稅合一新制規定，自2015年起對我國境內居住的個人股東所獲配股利之可扣抵稅額，僅半數可扣抵股東個人應繳納之綜合所得稅，對企業盈餘的穩健程度是否有所影響。 本文以兩稅合一新制實施的前1年至後1年，亦即2014 年至2015 年之我國上市、上櫃公司為研究樣本，自台灣經濟新報 (TEJ)財務、股價及公司治理資料庫取得樣本資料，共計3,075筆樣本公司。依據Basu(1997)提出的反向迴歸(reverse regression)模型，利用公司股票報酬率在市場壞消息與好消息發生時所反應的敏感度及時效性，以檢測不同產業間在兩稅合一新制規定實施後，對公司採行會計政策穩健程度的影響。 實證結果指出，因國內股東獲配股利之可扣抵稅額僅半數可扣抵綜合所得稅，使企業股東會因為可扣抵稅額誘因減少，增加企業的穩健度。又有研發創新的產業，因可適用「產業創新條例」規定之租稅減免，使其產業的穩健程度會較一般產業來得低。而生技產業因可適用「生技新藥發展條例」較多的租稅優惠規定，故其產業的穩健程度除了較一般產業來得低外，亦比有研發創新的產業來得低。
並列摘要
Abstract This study takes the tax factor as the main reason for the study, and studies the new integrated income tax system for the individual shareholders who are resident of Republic of China since 2015 years. Only half of them can be deducted from the shareholders' income tax payable, whether there is an impact on the conservatism of the firm's earnings. In this paper, the first two years of the implementation of the new integrated income tax system from the first year to the next year, that is, 2014 to 2015, Republic of China listed, OTC company for the study sample, from the Taiwan Economic journal (TEJ) financial, stock and corporate governance database get sample data, totaling 3,075 sample companies. According to the reverse regression model proposed by Basu (1997), the company's stock return rate is used to detect the sensitivity and timeliness of the market's good news and bad news to detect different industries. After the implementation of the provisions of the company's accounting policy to achieve the impact of sound degree. The empirical results show that only half of the deductible tax can be deducted from the individual income tax, so that the shareholders of the enterprise will be deducted from the tax incentives to reduce the increase in corporate conservative. There is also an industry that develops and innovates. As a result of the tax concessions under the 「Statute for Industrial Innovation」, the level of conservatism of the industry will be lower than that of the general industry. In view of the fact that the biotechnology industry has more taxable concessions applicable to the 「Biotech and New Pharmaceutical Development Act」, the stability of its industry is lower than that of the general industry.