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    政大機構典藏 > 商學院 > 財務管理學系 > 學位論文 >  Item 140.119/99331
    Please use this identifier to cite or link to this item: http://nccur.lib.nccu.edu.tw/handle/140.119/99331


    Title: 稅賦抵減政策對公司避險決策與資本結構之影響
    Impact of Statute for Upgrading Industry on hedging policy and capital structure
    Authors: 余胤樂
    Contributors: 李志宏
    余胤樂
    Keywords: 避險
    稅賦抵減
    資本結構
    Date: 2016
    Issue Date: 2016-07-20 17:13:17 (UTC+8)
    Abstract: 本篇論文欲探討之議題為,根據文獻之研究結果,說明美國企業採取避險之策略可以提升公司之舉債能量,進而有更多稅盾之效益來增加公司價值。而台灣有優惠稅賦之情況,主要可能造成之影響為,申請核准之公司實課稅率降低、有更大動機從事研發,那麼如此影響是否將與其他論文所提到之結果有所衝突,在有稅賦減免之下會不會有相左之結果產生,並檢視這樣的政策對於台灣公司之避險程度與負債結構之影響,若政策會使有稅賦抵減之公司,也就是需要投入研發、人力培養等有成長潛力的公司,能有誘因促使該類型公司維持低負債比率以及高避險程度,那麼對公司的研究與經營能有更永續發展且穩健的影響。
    根據本篇論文實證之結果,在促進產業升級條例的實施下,不但使符合資格之公司有稅賦優惠之效益外,這些具有稅賦抵減之公司,和無稅賦抵減公司相比,有較低之稅盾誘因而維持低負債比率;以及因研發費用有誘因提升,伴隨之風險程度提高,而有較高之避險程度,使得這類型具有研發密集且屬於政策實行期間台灣重點之成長產業,在政策之實行下,仍對於公司之穩定發展上與永續經營有正向之影響。
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    Description: 碩士
    國立政治大學
    財務管理研究所
    103357002
    Source URI: http://thesis.lib.nccu.edu.tw/record/#G1033570021
    Data Type: thesis
    Appears in Collections:[財務管理學系] 學位論文

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