open access

https://hdl.handle.net/2115/57592

移転価格税制の適用と資本市場の評価に関する実証研究

日本語

corporate governance

2015-03

東北大学経済学会

研究年報経済学

75(1-2)

33-49

The Taxation Agency introduced the Transfer Pricing Taxation, in order to suppress the outflow of the profits and the tax of the Japanese company which advances to overseas. There are also many cases by which Press reports are carried out about Transfer Pricing Taxation application, and attention of society is also high. With regard to this point, Japanese capital market showed a statistically significant negative reaction. We conduct the event study analysis to clarify the reason why market responded to the report of Transfer Pricing Taxation application. We consider this result as the strong evaluation to the corporate activity. Regarding this point, we compose the cumulative abnormal return around the date about the press. We conduct the two stage least square estimation where this result of the market reaction comes from. It was verified as a result of analysis that the variable about intangible assets, effective tax return, and the variable which stands for the extent of Corporate Governance are statistically significant to these reactions.

学術雑誌論文

Accepted Manuscript

0387-3056

AN00076214