本研究樣本期間自2007年至2014年,以台灣企業集團控制型態的家族企業為樣本,探討董事會特性以及控制股東的控制型態對租稅規避是否產生影響。本研究結果發現,法人董事席次比率愈高,以及投票權與現金流量偏離程度愈大的企業,愈會進行避稅。此外,當集團企業由家族成員所掌控時,董事會容易被其所控制而失去獨立性,此現象顯示家族控制股東並非皆以出資相當的股份獲得表決權,因此本研究也發現,當控制股東持股率愈高時,可以減少企業租稅規避的行為;亦即,控制股東持有相當的股份情況下,控制股東需自行承擔公司風險及虧損,當公司有獲利時,控制股東能獲得公司較多的利益,與非控制股東的利益較為一致,故較不會進行租稅規避的行為。而在公司治理機制影響方面,提高獨立董事比率,對有投票權與現金流量偏離的公司,能夠減少公司進行租稅規避的行為;然而,本文並未觀察到企業設置法人董事在租稅規避行為中有任何監督機制的效果。 關鍵詞:控制股東、法人董事、公司治理、家族企業、租稅規避
Using a sample of Taiwanese family firms listed companies over the period 2007 to 2014, this study attempts to examine how board characteristics and controlling shareholders affect corporate tax avoidance. The results of this study show that the higher the ratio of corporate director and the ratio of largest separation of voting rights and cash flow rights, the companies tend to have a tax avoidance behavior. Besides, when the group enterprise is controlled by the family, the board of directors is easily controlled by family members and thereby loses its independence. This phenomenon reveals that the controlling shareholders of family firms do not invest comparable cash to obtain the voting right. Thus, this study also finds that the higher the proportion of share held by controlling shareholders, the company presents less tax avoidance behavior. Specifically, controlling shareholders assume firm risks and financial losses when they hold a sufficient number of shares. Therefore, the interest of benefit of controlling shareholders is aligned with that of non-controlling shareholders if the company can obtain more profits, and the company decreases the tax avoidance behavior. With respect to the impact of corporate governance mechanism, the companies which have a deviation of voting rights from cash flow rights, an increase in the ratio of independent directors lessens corporate tax avoidance. However, this study finds no effect of the supervision mechanism of corporate directors on the company’s tax avoidance. Key Words: Controlling Shareholders, Corporate Directors, Corporate Governance, Family Firms, Tax Avoidance.
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