2018年稅制改革與企業實質盈餘管理行為之關聯性研究

我國於2018年1月18 日經立法院三讀通過「所得稅法部分文修正草案」。本研究以2016年至2019 年我國上市櫃公司財務報表資料為基礎，採用修正式Jones Model 估計裁決性應計數並採用其做為實質盈餘管理之代理數，並以迴歸分析探討管理當局是否會因租稅改革方案而進行管理實質盈餘。實證結果顯示，企業於2018年後有將實質盈餘向管理的動機·而政府提供的投資抵減租稅優惠，以及未分配實質盈餘加徵營所稅稅率由10%降低至5%，可抵消營所稅稅率增加導致公司實質盈餘向下管理之負向效果·本研究加入公司治理數.探討公司治理機制是否能有效降低管理階層不當實質盈餘管理行為.實證結果顯示.投資人持股率愈高時，越能發會監督效果降低實質盈餘管理的可能性。

關鍵字

所得稅稅制改革、實質盈餘管理、公司治理、營利事業所得稅率

並列摘要

On January 18, 2018, the Legislative Yuan passed the "Draft Amendment to Part of the Income Tax Law" through the Third Reading. This study is based on the financial statement data of listed companies in my country from 2016 to 2019, adopts the modified Jones Model to estimate the adjudicative account and uses it as the proxy number of real earnings management, and uses the L regression analysis to explore whether the management authority will Management of real surplus due to the tax reform plan. The empirical results show that companies have the motivation to transfer real earnings to management after 2018, and the government provides investment tax deduction incentives, and the additional tax rate for undistributed real earnings is reduced from 10% to 5%, which can be offset The increase in the tax rate of the camp leads to the negative effect of the down-management of the company’s real earnings. This study adds the number of corporate governance. To explore whether the corporate governance mechanism can effectively reduce the improper real earnings management behavior of the management. The empirical results show that the investor’s shareholding ratio is getting higher. When it is high, the more effective the supervision will reduce the possibility of real earnings management.