| 摘要Abstract | 本研究探討企業產品市場力量對生命週期與租稅規避關聯性的調節效果。具有產品市場力量的企業，較有能力依據企業處於不同生命週期的階段的特性，調整租稅規避策略。由於企業在不同生命週期的經營策略不同，因此具有產品市場力量的企業，在不同階段的租稅規避的調節效果也有所不同。
本研究採用2000年至2018年之上市櫃公司（不含TDR、F股及金融產業）樣本。以迴歸分析企業生命週期、產品市場力量及租稅規避關聯。實證結果發現，相對於停滯期，企業處於初創期、成長期及成熟期租稅規避相對較低，而衰退期租稅規避程度較高。另外，企業產品市場力量與租稅規避程度呈正向關係。最後，產品市場力量對不同生命週期與租稅規避的調節效果不同，以停滯期為基準，產品市場力量在初創期及衰退期提高租稅規避程度，而產品市場力量在成長期及成熟期租稅規避程度則無影響。
This study examines whether product market power moderates the relationship between life cycles and tax avoidance. Firms with product market power are better positioned to adjust their tax avoidance strategies according to the characteristics of different life cycle stages. Consequently these firms exhibit varying effects of market power on tax avoidance at each stage of the life cycle. This study uses a sample of Taiwanese listed companies from the 2000-2018 period. Regression analysis is used to examine the relationship between firm's life cycle, product market power, and tax avoidance. The empirical result shows that, compared with the shake-out stages, tax avoidance is relatively lower at the introduction, growth, and mature stages, and relatively higher during the decline stage. Furthermore, product market power is positively associated with tax avoidance. Finally, the moderating effect of product market power on tax avoidance varies by life cycle stager it increases tax avoidance in the introduction and decline stages but has no significant impact during the growth and maturity stages. |