欢迎来到天天文库
浏览记录
ID:41979311
大小:75.15 KB
页数:15页
时间:2019-09-05
《企业税收筹划的有效性:基于对报酬的激励作用外文翻译》由会员上传分享,免费在线阅读,更多相关内容在工程资料-天天文库。
1、企业税收筹划的有效性:基于对报酬的激励作用外文翻外文文献翻译2011届译文一:企业税收筹划的有效性:基于对报酬的激励作用(上)译文二:企业税收筹划的有效性:基于对报酬的激励作用(下)学生姓名周伟学号07062136院系经济与管理学院专业会计指导教师许庆高完成FI期2010年12月2CorporateTax-PlanningEffcctivcncss:TheRoleofCompcnsation-BasedIncentivesIJohnD.PhillipsUniversityofConnecticutABSTRACTThisst
2、udyinvestigateswhethercompcnsatingchiefexecutivcofficersandbusiness-unitmanagersusingafter-taxaccounting—basedperformancemeasuresleadstolowereffectivetaxratcs,theempiricalsurrogateusedfortax-planningeffectiveness.Utilizingproprietarycompensationdataobtainedinasurve
3、yofcorporateexecutives,therelationbetweeneffectivetaxratesandafter-taxperformancemeasuresismodeledandestimatedusingatwo~stepapproachthatcorrectsfortheendogeneitybiasassociatedwithfirms'decisionstocompensatemaneigersonapre-versusafter-taxbasis.Theresultsareconsisten
4、twiththehypothesisthatcompensatingbusiness-unitmanagers,butnotchiefexecutiveofficers,onanafter-taxbasisleadstolowereffectivctaxrates.KEYWORDStaxplarming;performancemeasures;endogenoustreatmenteffects.T.INTRODUCTIONEffectivetaxplanning,definedbyScholesetal.2002astax
5、planningthatimizesthefirm,sexpecteddiscountedafter-taxcashflows,requiresmanagerstoconsidertheirdccisions,after-taxconsequences-Inthispaper,Iinvestigatewhetherafter-taxaccounting-basedperformancemeasures1eadtolowereffectivetaxratesETR,myempiricalsurrogatefortaxplann
6、ingeffectiveness.1TheETR,anincome-statement-basedoutcomemeasurecalculatedastheratiooftotalincometaxexpcnsctopre一taxincome,generallymeasurestheeffectivenessoftaxreductionstrategiesthatleadtohigherafter-taxincome.AlowerETR,however,canonlyproxyfortaxsavingsanddoesnota
7、lwaysimplythatafter-taxincomeand/orcashflowshavebeenimized.2Despitethislimitation,theETRhasbeenusedtomeasuretheeffectivenessofspendingonthetaxfunctionMillsetal.1998andcorporatetaxdepartmentperformanceDouglasetal.1996.Also,loweringtheETRisfrequentlycitedasawaytoincr
8、easeearningse.g.,Ziegler1997andincreasesharepricee.g.,Mintz1999;Swenson1999.Accountingresearchhasaddressedtherelationbetweenaccounting-basedcompe
此文档下载收益归作者所有