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標題: | 租稅相關證管會審查意見書對美國跨國企業海外現金資訊揭露之影響研究 The Effect of Tax Related SEC Comment Letters on Multinational Corporations’ Foreign Cash Disclosures in United States |
作者: | Chun-Yuan Su 蘇俊源 |
指導教授: | 高偉娟(Wei-Chuan Kao) |
關鍵字: | 租稅相關審查意見書,海外現金,受困現金,租稅規劃,公司治理,避稅行為, SEC comment letter,foreign cash,trapped cash,tax planning,corporate governance,tax avoidance, |
出版年 : | 2018 |
學位: | 碩士 |
摘要: | 本研究旨在探討:租稅相關證管會審查意見書對美國跨國企業海外現金資訊揭露之影響。依美國一般公認之會計原則,企業不須針對海外現金進行揭露,因此在海外現金為租稅敏感資訊的情況下,企業通常不會主動揭露。然而,若美國證券交易委員會(U.S. Securities and Exchange Commission)對企業財務報導之定期檢閱結果,認為企業之財務報表內容或揭露有匱乏,則會向企業發布審查意見書。其中即可能包括,要求企業揭露海外現金之指示。針對證管會之審查意見書,企業得選擇接受並進行改正,亦或選擇與證管會溝通,直到雙方取得共識。企業決策代表綜合考量下,資訊揭露之必要性,以及海外現金資訊被稅務機構取得之可能後果,因此本研究探討企業收到租稅相關證管會審查意見書後,對於海外現金資訊之揭露影響。本研究實證結果顯示,企業海外現金之揭露程度,與收到租稅相關證管會審查意見書,存在顯著正向關聯;收到租稅相關證管會審查意見書之企業,於收到之後的年度,顯著增加海外現金之資訊揭露,此顯示,儘管企業會考量租稅機構對於資訊的利用,最終還是會選擇接受來自非稅務機構對於租稅行為之監理。此外,本研究亦發現:企業在公司治理不佳的情況下,更可能因收到租稅相關證管會審查意見書,而增加對海外現金之揭露。本研究之結果,可供政府機構制定政策時之考量與學術研究之參考。 This study investigates the effect of tax related SEC comment letters on U.S multinationals disclosure of foreign cash. According to U.S GAAP, companies do not need to disclose their foreign cash balance. Therefore, considering foreign cash balance is tax-sensitive information, companies usually do not disclose it voluntarily. However, if the outcome of SEC’s timely review points out that there is an insufficiency of disclosure in a company’s financial report, SEC may issue a comment letter, which may demand a disclosure of foreign cash. The company receiving a comment letter may choose to accept the comment and correct their filings, or negotiate until developing a consensus with SEC. The decision made by the company, somehow implies the attitude towards the necessity of disclosure and the possible consequence that the information being used by tax authorities. Hence, this study seeks to find the effect of a tax related SEC comment letter on corporate foreign cash disclosure. The empirical results show that there is a positive relation between the receipt of tax related comment letter and foreign cash disclosure. Companies receiving a tax related comment letter significantly increased its foreign cash disclosure, which imply that companies usually follow SEC’s comment to increase foreign cash disclosures while it may attract attention from tax authorities. In addition, this study also finds that the effect of tax related SEC comment letter is greater with companies experiencing poor corporate governance. In general, this study may be useful to the government and academic field. |
URI: | http://tdr.lib.ntu.edu.tw/jspui/handle/123456789/71895 |
DOI: | 10.6342/NTU201804146 |
全文授權: | 有償授權 |
顯示於系所單位: | 會計學系 |
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