財稅差異與現金流量及盈餘持續性

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姓名

鍾林安(Lin-Am Chung) 查詢紙本館藏

畢業系所

會計研究所

論文名稱

財稅差異與現金流量及盈餘持續性
(The Book-tax Differences on the Persistence of Earnings and Cash flows)

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摘要(中)

本篇研究主要探討在財稅差異較大之情況下各公司之盈餘以及現金流量是否具有持續性，此外本研究除了檢測營運現金流量的持續性外也對於營運現金流量要素對於盈餘的持續性加以研究，在本篇論文中之樣本係來自台灣產經資料庫(TEJ)中取得,本篇所採用之研究方法，係採用最小平方法回歸模型(OLS)對本篇資料進行分析，並評估公司營運現金流量之持續性與營運現金流量要素對盈餘持續性之影響。並在營運現金流量的持續性的研究結果中發現，本期稅前營運現金流量對未來現金流量的持續性是正向顯著，而進一步探討具有較大財稅差異特性之公司後發現，具有較大財稅差異之公司則較不具現金流量之持續性其現金流量之品質較不佳。
本篇論文研究之結果能提供投資人評估投資時之參考，並且藉此避免較具投資風險之公司。

摘要(英)

This thesis explores the effect of large book-tax differences on the persistence of earnings and cash flows. In addition to explore the persistence of cash flows, Data used in this thesis are retrieved from TEJ database. My research method is based in OLS. I explore the persistence of cash flows and persistence of earnings and cash flows. I also examine the persistence of cash flows on earnings. I find a positive and statistically significant persistence of current year’s operating cash flows on future operating cash flows. Furthermore, firms with larger book-tax differences have lower cash flows persistence and thus inferior quality of cash flows.
The result of this thesis helps investors to evaluate their investments and to avoid in investing firms with excessive high risks.

關鍵字(中)

★ 盈餘持續性
★ 營運現金流量
★ 財稅差異

關鍵字(英)

★ Persistence of earnings
★ Operating cash flows
★ Book-tax differences

論文目次

目錄
中文摘要 I
ABSTRACT II
誌謝 III
目錄 IV
表目錄 VI
第一章前言 1
第一節研究背景 1
第二節研究目的 1
第三節研究發現 2
第四節研究架構 2
第二章文獻回顧 4
第一節盈餘持續性 4
第二節租稅之盈餘管理 4
第三節營運現金流量之操弄 5
第四節財稅差異 8
第三章研究假說與研究方法 10
第一節研究假說 10
第二節研究方法 11
第三節台灣所得稅之估算 13
第四節研究模型與變數定義 14
第四章敘述統計 18
第一節樣本敘述 18
第二節樣本產業分配表 19
第三節樣本敘述統計表 22
第三節皮爾森相關係數矩陣 25
第五章實證結果 31
第一節有連續發布財部報表有上市櫃群組 31
第二節有連續發布財部報表無上市櫃群組 35
第三節無連續發布財部報表有上市櫃群組 39
第四節無連續發布財部報表無上市櫃群組 43
第五節合併群組 47
第六章結論 51
參考文獻 52

參考文獻

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指導教授

郭南廷

審核日期

2014-6-27

推文