English  |  正體中文  |  简体中文  |  Post-Print筆數 : 27 |  Items with full text/Total items : 112721/143689 (78%)
Visitors : 49591173      Online Users : 588
RC Version 6.0 © Powered By DSPACE, MIT. Enhanced by NTU Library IR team.
Scope Tips:
  • please add "double quotation mark" for query phrases to get precise results
  • please goto advance search for comprehansive author search
    •  Adv. Search
    Home ‧ Login ‧ Upload ‧ Help ‧ About ‧ Administer Goto mobile version


    Please use this identifier to cite or link to this item: https://nccur.lib.nccu.edu.tw/handle/140.119/3922


    Title: 我國實行兩稅合一前後有效稅率與隱含稅率之關聯性研究
    Other Titles: The Associations between Effective Tax Rate and Implicit Tax Rate before and after the Integration of Individual and Corporate Taxes
    Authors: 俞洪昭;戚務君;許崇源
    Keywords: 兩稅合一;有效稅率;除息;除權;股東可扣抵稅額;隱含稅率
    Tax integration;Effective tax rate;Ex-dividend;Ex-right;Imputation tax credit;Implicit tax rate
    Date: 2000
    Issue Date: 2007-04-18 16:37:44 (UTC+8)
    Publisher: 臺北市：國立政治大學會計學系
    Abstract: 本研究採用理論分析的模式，透過股東可扣抵稅額、企業有效稅率與邊際股東隱含稅率(定義為使得公司除息前股價等於除息後股價再加計稅後股利金額之個人所得稅率)的相互關係，來探討兩稅合一對於投資人參與除息與除權行為的可能影響，以提供投資人決定是否參與除息(權)之經濟決策及公司股利政策的理論參考依據。分析結果有三點發現：第一，兩稅合一以前，無論企業發放現金股利或股票股利，公司之有效稅率與邊際股東之個人隱含稅率間並無任何關聯；然而，在兩稅合一實施後，除非公司所發放的股利均來自於86年(含)以前之盈餘，否則公司之有效稅率與隱含稅率間存在正向的關係；第二，就現金股利的除息而言，若公司之有效稅率愈高，其邊際股東之個人隱含稅率易愈高，這代表著在考量稅負效果之後，對更多的投資人而言，參加除息是有利的；第三，就股票股利的除權而言，在兩稅合一實施前，租稅效應僅發生於股價有「填權」的情況；然而，由於兩稅合一後，基於股東可扣抵稅額所產生之抵稅效果，租稅效應無論在股價「填權」或「貼權」的情況下均會發生。
    This study theoretically examines the effects of the imputation tax system on investors` decision of going ex-dividend or ex-rights. Based on the interactions among imputation tax credits, firm`s effective tax rate, and marginal shareholders` implicit tax rate (defined as a shareholder`s personal tax rate that equates stock price before ex-dividend or ex-rights day and stock price after ex-dividend or ex-rights day plus after-tax dividends), the analytical results reveals three important results. First, before the imputation tax system, there is no relationship between firm`s effective tax rate and marginal shareholders` implicit tax rate on ex-dividend or ex-rights day. Second, under the imputation tax system with ex-dividend, the higher a firms` effective tax rate, the higher the marginal shareholders` implicit tax rate. This result implies that tax effect causes it more favorable for more investors to go ex-dividend. Finally, under the imputation tax system with ex-rights, tax effect influences stock price behavior before and after the ex-rights day due to the wealth effect resulting from imputation tax credits.
    Description: 核定金額：401700元
    Data Type: report
    Appears in Collections:[會計學系] 國科會研究計畫

    Files in This Item:

    File Description SizeFormat
    892416H004066.pdf912KbAdobe PDF21131View/Open


    All items in 政大典藏 are protected by copyright, with all rights reserved.


    社群 sharing

    著作權政策宣告 Copyright Announcement
    1.本網站之數位內容為國立政治大學所收錄之機構典藏，無償提供學術研究與公眾教育等公益性使用，惟仍請適度，合理使用本網站之內容，以尊重著作權人之權益。商業上之利用，則請先取得著作權人之授權。
    The digital content of this website is part of National Chengchi University Institutional Repository. It provides free access to academic research and public education for non-commercial use. Please utilize it in a proper and reasonable manner and respect the rights of copyright owners. For commercial use, please obtain authorization from the copyright owner in advance.

    2.本網站之製作，已盡力防止侵害著作權人之權益，如仍發現本網站之數位內容有侵害著作權人權益情事者，請權利人通知本網站維護人員(nccur@nccu.edu.tw)，維護人員將立即採取移除該數位著作等補救措施。
    NCCU Institutional Repository is made to protect the interests of copyright owners. If you believe that any material on the website infringes copyright, please contact our staff(nccur@nccu.edu.tw). We will remove the work from the repository and investigate your claim.
    DSpace Software Copyright © 2002-2004  MIT &  Hewlett-Packard  /   Enhanced by   NTU Library IR team Copyright ©   - Feedback