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| Title: | 所得稅費用盈餘管理：經理能力與產品市場力量之調節效果
Earnings management through effective tax rates :The moderating effects of managerial ability and product market power |
| Authors: | 邱品翰
Chiu, Pin-Han |
| Contributors: | 何怡澄
郭振雄
Ho, Yi-Cheng
Kuo, Jenn-Shyong
邱品翰
Chiu, Pin-Han |
| Keywords: | 所得稅費用盈餘管理
經理能力
產品市場力量
Earnings Management
Managerial Ability
Product Market Power |
| Date: | 2025 |
| Issue Date: | 2025-08-04 14:23:12 (UTC+8) |
| Abstract: | 本研究探討分析師預測誤差對所得稅費用盈餘管理的影響，並分析經理能力與產品市場力量對分析師預測誤差與所得稅費用盈餘管理的調節效果。既有文獻大多分別探討經理能力或產品市場力量對於企業使用盈餘管理之影響，而其盈餘管理的類型為應計項目盈餘管理和實質盈餘管理，缺乏對於所得稅費用盈餘管理的研究。本研究使用OLS迴歸，分析2004年至2016年美國上市企業。實證結果顯示，首先，分析師預測誤差與所得稅費用盈餘管理呈正向關聯性；其次，經理能力與所得稅費用盈餘管理呈正向關聯性，然而，經理能力削弱分析師預測誤差與所得稅費用盈餘管理的正向關聯性；第三，產品市場力量與所得稅費用盈餘管理呈正向關聯性，然而，產品市場力量削弱分析師預測誤差與所得稅費用盈餘管理的正向關聯性。上述結果說明經理能力與產品市場力量將促使企業進行所得稅費用盈餘管理，然而，面臨分析師預測誤差等外部壓力時，反而抑制所得稅費用盈餘管理。
此外，穩健性測試，採用不同解釋變數指標(分析師預測誤差推估額度、高經理能力及高產品市場力量)、增加控制變數(企業規模及海外來源所得)及放寬樣本篩選條件(將分析師預測誤差推估額度或實際額度區間由正負5美分擴大至正負10或15美分)，均獲得穩健的結果；額外測試，則將樣本期間調整至美國減稅與就業法案(Tax Cuts and Jobs Act, TCJA)施行後的2018至2022年，發現分析師 預測誤差與所得稅費用盈餘管理關聯性轉變為負向，與主要測試結果相反，顯示存在分析師預測誤差時，企業不再會進行所得稅費用盈餘管理；另外，加入總應計數或遞延所得稅費用衡量稅前盈餘管理程度，觀察多重盈餘管理策略的並存性，發現總應計數與所得稅費用盈餘管理之間存在替代關係，遞延所得稅費用與所得稅費用盈餘管理之間則無顯著關聯。
This paper examines the effect of analyst forecast error on income tax expense earnings management and explores how managerial ability and product market power moderate this relationship. While prior literature has mostly focused on the effects of managerial ability or product market power on accrual-based or real earnings management, limited attention has been given to earnings management through income tax expense. This paper employs OLS regression using data from U.S. publicly listed firms between 2004 and 2016. The empirical results indicate: first, analyst forecast error is positively associated with income tax expense-based earnings management; second, managerial ability is positively associated with such earnings management but weakens the positive association between analyst forecast error and tax-based earnings management; third, product market power also shows a positive relationship with income tax expense-based earnings management but mitigates the influence of analyst forecast error.
Robustness tests using alternative proxies (estimated forecast error, high managerial ability, and high product market power), additional control variables (firm size and foreign income), and relaxed sample filters (expanding the forecast error range from ±$0.05 to ±$0.10 or ±$0.15) support the main findings. In an additional test using post-TCJA data (2018-2022), the association between analyst forecast error and tax-based earnings management becomes negative, suggesting reduced use of tax expense adjustments under the new tax regime. Moreover, by incorporating total accruals and deferred tax expense to capture pre-tax earnings management, results reveal a substitution effect between total accruals and tax-based earnings management, while no significant relationship is observed with deferred tax expense. |
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| Description: | 碩士
國立政治大學
財政學系
112255024 |
| Source URI: | http://thesis.lib.nccu.edu.tw/record/#G0112255024 |
| Data Type: | thesis |
| Appears in Collections: | [財政學系] 學位論文
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