企業生命週期為所有企業在經營時皆會面臨之議題，不同企業生命週期階段會有不同財務及市場狀況，皆是企業在做營運決策時須考量的因素之一。本研究欲探討企業在不同生命週期中，是否會有不同程度之租稅規避。本研究生命週期分為五階段，分別為初創期(Introduction)、成長期(Growth)、成熟期(Mature)、停滯期(Shake-Out)及衰退期(Decline)，並且依Dickinson (2011)發展出的分類方法將每個企業年度分類為不同生命週期階段，與租稅規避進行迴歸分析，瞭解企業生命週期各階段對企業進行租稅規避之影響為何。另外，亦加入產品市場加以分析，測試企業在不同企業生命週期下，產品市場對各階段租稅規避是否有增額影響。
本研究以2000年至2018年之上市櫃公司(不含TDR、F股及金融產業)做為研究樣本，分別探討企業生命週期、產品市場力量及租稅規避間之關聯。結果發現，隨著企業處於不同生命週期階段，其租稅規避程度會不同，初創期、成長期及成熟期租稅規避相對較低，而衰退期租稅規避程度較高。另外，企業產品市場力量較大者，其租稅規避程度較高。最後，不同生命週期的租稅規避受到產品市場力量調節效果之影響不同，以停滯期為基準，產品市場力量使初創期及衰退期之租稅規避程度提高，而產品市場力量對成長期及成熟期租稅規避程度無影響。

Firm’s life cycle is an issue that all firms will face when operating. Different firm’s life cycle stages have different financial and market conditions. These are factors that companies must consider when making an operational decision. This study examines whether firms will have a varying degree of tax avoidance in different life cycle stages. Firm’s life cycles divided into five phases base on Dickinson(2011) model: Introduction, Growth, Mature, Shake-Out, and Decline. Then examine the impact of each stage of the firm’s life cycle on tax avoidance. Also, this study also adds an analysis of product market power to test whether the product market power has an impact on tax avoidance of each firm’s life cycle.
This study’s sample use Taiwan’s listed companies over 2000-2018 period. The result shows that tax avoidance will indeed vary with the stage of firm’s life cycle. Tax avoidance will significantly negatively be associated with the introduction, growth, and mature stages and significantly positively associated with the decline stage. Product market power is positively with tax avoidance. Product market power is significantly positively associated with tax avoidance in introduction and decline stages and has no impact on growth and mature stages.

第壹章 緒論 1
第一節 研究動機與目的 1
第二節 研究流程 3
第貳章 文獻探討與假說發展 4
第一節 租稅規避 5
第二節 企業生命週期 7
第三節 產品市場力量 13
第四節 假說發展 16
第參章 研究方法與設計 21
第一節 資料來源與樣本篩選 21
第二節 變數定義 22
一、 租稅規避指標 22
二、 企業生命週期變數指標 24
三、 產品市場力量變數說明 25
四、 控制變數 26
第三節 研究模型 30
第肆章 實證結果 33
第一節 敘述統計 33
第二節 實證結果分析 42
第三節 額外分析 52
第伍章 結論及研究限制 66
第一節 結論 66
第二節 研究限制 68
參考文獻 69

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