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    Please use this identifier to cite or link to this item: http://nccur.lib.nccu.edu.tw/handle/140.119/118832

    Title: 政治獻金、租稅規避與股票報酬
    Corporate Political Contributions, Tax Avoidance and Stock Returns
    Authors: 林立妤
    Lin, Li-Yu
    Contributors: 郭振雄
    Kuo, Jenn-Shyong
    Lin, Li-Yu
    Keywords: 租稅規避
    Tax avoidance
    Political contribution
    Abnormal returns
    Date: 2018
    Issue Date: 2018-07-24 11:01:44 (UTC+8)
    Abstract: 過去研究支持企業捐贈政治獻金能提升企業價值,且與租稅規避呈正向關係。企業的政治關係對公司市值與其租稅規避兩者皆直接有影響,但沒有研究分析企業的政治關係影響其租稅規避程度後,間接對公司價值的影響。企業從事租稅規避需在公司內部治理良好,或企業透明度佳的情況,避稅才會對企業價值正面影響。對此,本研究進一步探討企業的政治關係對其從事租稅規避與公司價值關聯性的影響。
    In the past, researches support that corporate political contributions could enhance the firm’s value and have a positive relation with tax evasion. Political connection influences firm value and tax avoidance directly, but there is no evidence that detects the firm value changes after political connection with the degree of tax avoidance. Evidently, the corporate is well-governed or transparent, tax avoidance will enhance firm value. As a result, this paper will investigate how political connections affect the degree of tax avoidance and the effect towards firm’s value.
    This paper takes the opportunity to use the listed stock company in Taiwan as sample research, estimating four election years during 2004 to 2016. The method panel fixed effect model and ordinary least squares(OLS) analyze the issue. Results show that: first, political contributions will bring positive abnormal returns to the corporate; second, the relation between tax avoidance and abnormal return is not significant; thirdly, corporate political contributions have a positive impact on the relevance of tax avoidance and firm’s value. In comparison to the firm’s disengagement in political contribution, tax aggressive firms get more positive abnormal returns by the more candidates firm support, the increase party power in congress and the elections winning. It shows that corporate political contribution and tax avoidance will affect firm’s abnormal returns.
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    Description: 碩士
    Source URI: http://thesis.lib.nccu.edu.tw/record/#G0105255003
    Data Type: thesis
    DOI: 10.6814/THE.NCCU.PF.011.2018.F07
    Appears in Collections:[財政學系] 學位論文

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