目前，許多跨國企業為了避免被課予重稅，紛紛於免稅天堂設立紙上公司，以使利潤留在較低稅率之國家，以節省稅賦。各國稅務機關對於此一問題，紛紛規定移轉訂價準則，以規範該稅收管轄權區域內之企業，以避免企業從事不合常規交易，影響稅收。 我國於93年12月28日發布營利事業所得稅不合常規移轉訂價查核準則，在在都顯示我國對於此一移轉訂價問題之重視，又金融控股公司制度已施行有三年之久，本研究擬針對金融控股公司內部，及金融控股公司與外部關係企業之移轉訂價政策進行研究。 研究結果發現國泰金控公司與外部關係企業、外部關係人之交易，分為有形資產移轉及使用、無形資產移轉及使用、資金使用，均採市價計算。合於OECD規定之可比較非受控制價格法 (CUP)及我國營利事業所得稅不合常規移轉訂價查核準則第五條規定之可比較未受控價格法。 另外，國泰金控母公司與金控子公司間之垂直交易，與金控子公司間之交易亦是採市價作計算。有關國泰金控內部跨售之行為，則是採取給付佣金之方式。然而，此一跨售之行為，應由銀行計算出投入各項銷售之成本，再將各銷售成本納入該當之子公司損益表項下，以充份反映銷壽產險之總成本，以檢視其金控集團是否有達其成本節省之綜效。若未來國內金控集團勢布局亞太地區或是全球，則金控公司不能忽視此一移轉訂價問題，必須準備移轉訂價報告，或是與各國之稅務機關簽訂預先訂價協議，避免重覆課稅。 / Nowadays, many multinational enterprises set up paper companies in the tax heaven, then they can increase income of the paper company. Because tax heaven impose lower tax rate or nil tax rate, they can reduce tax expenses. Many countries had set up transfer pricing regulation to avoid the companies have non-arm’s length transaction. We had issued transfer pricing regulation in Dec. 28, 2004 in Taiwan, and the financial holding company law had come into force for 3 years. The research make a study of transfer pricing policy of the intra-holding company and transfer pricing policy between holding company and related parties. The results of the research are that transaction prices between Cathay Holding Company and the related parties are according with the market prices, and this fit in with the comparable uncontrolled price method. In addition, transaction prices within the intra-holding company are according with the market prices, too. The cross selling between bank and insurance company, the insurance company will give bank appropriate commission fees. But bank should calculate the cost to sell the insurance, then the insurance company can summarize the total cost of selling insurance, to see that if they had achieve the goal of synergetic benefits. If the financial holding companies had become a world-wide companies, they should pay much attention to transfer pricing issue to avoid double taxation.

隨著全球化思維日漸成熟，公司企業為求有效運用資源以及降低成本等目的而紛紛轉型為全球跨國分工體系。在此種營運模式下，多國公司面對瞬息萬變且錯綜複雜之全球環境變數，該如何有效運用移轉訂價工具，以解決跨國內部交易頻率提升所帶來事業單位資金分配以及績效評比之複雜難題，以及達到公司整體稅後利潤最大化之目的，遂成為一不容忽視之議題。 　　本論文採取個案研究法，以一家於全球經營多年之多國公司為對象，說明多國公司於訂定移轉訂價政策時，應循序漸進的依循三個步驟，並說明與移轉訂價決策之相關，分別影響決定移轉訂價方法以及移轉訂價水準高低之因素。 　　本研究提出之研究結論，建議多國公司於決定移轉訂價時，應遵循三步驟： 1. 決定移轉訂價目標 　　根據組織目標決定並確立移轉訂價政策之目標 2. 決定移轉訂價方法 　　以期達成移轉訂價目標，根據全球策略運作與企業內部交易特性兩大類因素決定最適之移轉訂價方法。 3. 決定移轉訂價之價格水準高低 　　以期達成移轉訂價目標，於決定移轉訂價方法後，根據地主國環境因素決定最適之移轉訂價水準高低。

本研究探討影響臺灣跨國企業進行移轉訂價規避納稅義務之主要因素，並進一步檢視臺灣現行選案條件之合宜性。此外，本研究驗證陳明進與蔡麗雯（2010）實證研究使用公司「移轉訂價偏離同業毛利率之差異數」作為衡量移轉訂價代理變數之可信度。本研究使用2004年至2013年度經稅捐稽徵機關以不合常規移轉訂價查核調整之公開發行公司案件計101筆資料進行分析。實證結果發現，在其他條件不變情況下，公司毛利率、營業淨利率及純益率低於同業，進行移轉訂價程度愈高；資產報酬率愈高者，進行移轉訂價規避稅賦程度愈高；研發支出愈多及資產規模愈大等發展能力愈強之公司，愈容易進行移轉訂價；海外子公司占所有子公司比率愈高之跨國企業公司，進行移轉訂價程度愈高。另現行移轉訂價選案條件有關損益鉅幅波動及獲利低於集團其他企業，與企業進行移轉訂價並無顯著關係，可能有進一步檢討該項選案條件之必要。 至於檢視以「移轉訂價偏離同業毛利率之差異數」衡量移轉訂價代理變數之合宜性，資產報酬率、營業成長率及企業規模與本研究實證結果一致，惟大股東及董監經理人持股比、四大會計師事務所、負債比例及電子業等其他變數之結果並不一致，顯見以移轉訂價偏離同業毛利率之差異數作為移轉訂價之代理變數，可能與實際查核狀況不儘相同。 / This study examines the major factors affecting multinational enterprises (MNEs) in Taiwan to avoid tax obligation on transfer pricing (TP), and analyzes if the current criteria of TP case selection is appropriate. In addition, this paper tries to verify the credibility of an indicator developed by Chen and Tsai (2010) to estimate abnormal TP transactions of companies. We measure transfer pricing noncompliance in terms of tax audit adjustments made by tax authorities. Base on a sample of 101 TP audits on public companies in Taiwan from 2004 to 2013, our empirical results show that companies which have lower gross profit margin, operation margin and net profit margin than the profit standard of the same business (D_PROFIT), higher return on assets (ROA), higher research and development (RD) expenditure, bigger firm size (SIZE), and higher proportion of foreign affiliates in all subsidiaries (MULTI) have more TP aggressiveness. Moreover, there are no significant relationships between the current criteria on TP case selection in Taiwan such as huge fluctuations in profits (D_CH_NI) and profits below the other companies in the MNE group (D_GROUP) and TP aggressiveness of MNEs. As regards the credibility of the indicator to estimate abnormal TP transactions of companies, we find that the results of ROA, growth rate (GROWTH), and firm size (SIZE) are consistent with this study, but the results of other factors such as shareholding ratios of the major shareholders, the directors, and the supervisors (SH), four major accounting firms (CPA4), ratio of debt (LEV) as well as electronics industry (ELECO) are not consistent with this paper. It means that the indicator to estimate abnormal TP transactions may not reflect the real TP audit adjustments.

為了研究總體因子與產業違約率之間的關聯性, 本文以信用投資組合觀點模型(CPV) 做為開端, 建立在具評等基礎下的違約損失模型, 並以投機等級違約率估計出移轉係數矩陣, 進而模擬各產業條件移轉矩陣, 藉以反應在各種不同總體情境下, 產業內各評等的移轉機率及違約機率。此外, 本文亦建立不分評等的簡化違約損失模型, 並將兩模型做一比較。最後, 我們以台灣537 家上市櫃公司做為投資組合樣本, 分別模擬出兩模型的條件違約損失分配。進一步計算風險指標,以此做為未來規劃資本計提的基礎。最後結果顯示, 投資組合違約情況確實受總體因子影響, 且發現若投資組合中評等越差公司之曝險越小, 將有助於降低組合資產風險。

公司因應「企業全球化」趨勢，追求全球資源最佳配置下，交易大多在集團內部進行。透過移轉訂價政策，作為集團企業間關係人交易價格的制定依據。 此趨勢之下，我國集團企業間關係人交易採用移轉訂價政策的情況為何？本研究以我國上市櫃公司之集團企業為研究對象，探討分析移轉訂價查核準則實施對我國集團企業間移轉訂價制定因素之影響，並彙整我國集團企業對移轉訂價查核準則規範內容的意見。 一、我國集團企業移轉訂價政策之運用現況及考量因素： 1、目前僅有五成的集團企業有建立明確移轉訂價政策作為關係人交易訂價的依據：公司規模愈大、對外投資期間愈長、關係人交易總額愈多、而關係企業家數在5家以下的集團企業，採用比例也愈高。 2、以移轉訂價查核準則規範之「可比較未受控價格法」及「成本加價法」之傳統交易基礎法採用為多。整體租稅負擔並非主要考量因素，各國移轉訂價法令規定及我國財務會計準則公報第六號規定為最主要的因素。規模越大、關係企業家數越多、越重視法令規定的企業，採用交易基礎移轉訂價法的機率愈高。惟，綜合集團整體內外經濟因素加以考量時，則偏向利潤基礎法。 二、我國集團企業受移轉訂價查核準則影響及意見： 1、透過組織管理架構的調整，將關係人交易價格的重心轉為事前規劃，進而考量移轉訂價稽查之因應。 2、目前我國集團企業多數認為準則並無不合理且頗具可行性。 / With the trend of globalization, companies use global resources to pursue best interest of the group enterprises as a whole within related party transactions. Through the transfer pricing policy, conglomerates can determine the prices for transactions between related parties. This study uses the conglomerate enterprises of Listed and OTC companies in Taiwan as questionnaire samples. The study analyses the impact of implement action of Taiwan transfer pricing regulations on conglomerate enterprises and the factors of transfer pricing among the conglomerates in Taiwan. The results of the research are as follows: 1.Nowadays, only 50% of the conglomerates in Taiwan establish a stated transfer pricing policy in determining the prices for transactions between related parties. We also focus that the larger size, the longer time of investment and the great investment amount, the higher proportion to adopt the transfer pricing policy. 2.The conglomerates in Taiwan tend to “The Comparable Uncontrolled Price Method” and “The Cost Plus Method” . The groups do not regard world-wide tax burden as an important factor, rather they emphasize more on the other countries’ transfer pricing regulations and financial accounting standards No.6 as the main factors. 3.The larger size, the more related companies, and paying more attention to regulations, the higher probability of transaction-based transfer pricing method. When the comprehensive internal and external economic factors are considered, the conglomerate companies tend to adopt profit-based transfer pricing method. 4.Through the adjustment of the organizational structure, and planning the price for transactions between related parties in advance, the conglomerate enterprises take tax audit into account. 5.Most of conglomerates in Taiwan regard the criteria of Taiwan transfer pricing regulations as rational and feasible at present.

我國「都市計畫容積移轉辦法」中規定容積接受區須與容積送出區為同一都市計畫地區，以臺北市為例，全區屬同一主要計畫，申請者於房價較低之行政區取得公共設施用地後，將其容積移入房價較高之行政區，產生某些行政區開發量暴增、公共設施服務品質不佳、都市景觀衝擊、都市交通擁擠及缺乏最適容積總量管制等課題。 本研究以都市容受力理論觀點，提出最適容積總量的評估機制，利用ArcGIS系統了解臺北市各行政區及街廓發展現況，掌握其各種屬性，作為建立分類指標參考，再藉由因子分析、集群分析等研究方法，進行都市容受力評估以及街廓條件分類。 最後，根據實證研究結果，建議臺北市容積移轉制度須檢討各行政區容積發展總量、評估都市發展容受力、考量其他容積管制政策、調整容積移轉範圍、規定各行政區接受基地街廓分類與移入容積上限及擬定容積移轉接受基地相關規範，以作為容積移轉政策之執行參考。 / As stipulated in the Regulations of Urban Building Capacity Transfer, the recipient and donor of transferred building capacity need to be located in the same urban planned district. Take Taipei City for example, it is covered in the same urban planned area. As developers acquire public facilities lands in administrative areas of low land prices, and then transfer the building capacity got from the former to the administrative areas of high land prices. The behavior of developers mentioned above, will trigger a rapid increase of development capacity in certain administrative areas, impact the service quality of public facilities, urban landscape, traffic condition, and optimal control of building capacity. Based on the theory of urban carrying capacity, the study proposes an optimal building capacity assessment mechanism. ArcGIS is used to trace the current development and understand the various features of the administrative areas and street blocks in Taipei City so as to help establish relevant classification indicators. Factor and cluster analyses are then conducted to facilitate urban carrying capacity assessment and classification of street blocks. Finally, on the basis of the empirical results , this study offers the following suggestions for achieving more effective implementation of the urban building capacity transfer system in Taipei City: reviewing the total building capacity in every administrative areas, assessing urban carrying capacity, exploring other policies for building capacity control, adjusting the scope of building capacity transfer, classifying the street blocks of the recipient sites in every administrative areas, limiting the volume of transferred building capacity, and drafting regulations for recipient sites of transferred building capacity.

因應全球化,企業跨國交易日趨頻繁,降低企業租稅成本並提升投資資金成 為管理階層經營首要考量。因此,跨國租稅規劃議題乃成為企業不容忽視的議題, 本研究主要探討企業投入研究發展的程度、於租稅天堂設立公司密集程度及關係 人交易移轉訂價偏離常規交易程度與公司營運績效的關聯性。 企業投入之研究發展支出可以作為費用及一定程度內適用政府提供之投資 租稅抵減達到稅盾效果;透過於境外低稅率或免稅國家成立公司,可能會透過控 股關係移轉所得達到降低稅負的效果 ; 透過關係人交易將利潤移轉至低稅負國 家的公司以降低整體企業稅負。此三種租稅規劃策略對企業營運績效之影響乃本 研究重點。 本研究以 2010 年至 2014 年共計 1,636 筆台灣上市櫃電子業之資料,相關的 實證結果顯示如下: 一、研究發展投入程度與企業營運績效關聯性方面:研究發展與企業營運績效呈顯著正相關。 二、租稅天堂稠密程度與企業營運績效關聯性方面:租稅天堂稠密程度與企業營運績效呈負相關,但是關聯性並不顯著。 三、關係人偏離常規移轉訂價與企業營運績效關聯性方面:關係人偏離常規移轉訂價與企業營運績效呈顯著正相關。 綜合此三種租稅規劃策略中以研究發展活動對企業營運績效最具顯著影響 力,因此,本研究推斷企業投入研究發展有助於提升企業長期的生產力、突破或 創新等,並進一步促進企業營運績效成長。 但將子公司設置於租稅天堂對企業營運績效則較不具影響力,認為是因為近 年來,各國政府與國際組織紛紛加強查緝與建立完善的租稅制度以防止企業透過 紙上公司規避稅負的政策關係,而且此一租稅規劃並無為關聯企業創造任何實質價值。因此,在全球打擊租稅規避風潮逐漸盛行下,企業於租稅天堂佈局子公司可能亦會使企業暴露額外的稅務風險。 企業透過關係人偏離常規交易對企業營運績效雖呈現正相關,但顯著性較研 究發展活動低,推斷為該租稅規劃策略目的僅以稅負極小化作為首要考量,未助於直接提升企業長期營運績效。 / In response to globalization, corporations increase cross-border transactions year by year. Reducing tax costs and increasing capital investment are managements’ primary consideration. Therefore, multinational corporations’ tax planning becomes a noticeable issue. The purpose of this study is to investigate the relationship of the extent of corporations’ research and development, the intensity of setting affiliates in tax haven, transfer pricing among affiliates deviated from arm’s length principle with corporate operating performance. Research and development investment can be expenses when filing tax return and applies for investment tax credit in certain degree to reduce corporate tax cost; through setting up offshore companies in low-tax or tax-free countries, holding companies may transfer or shift income to reduce the corporate tax burden; through related party transactions, holding companies can transfer profits to low-tax countries to reduce the company's overall corporate tax burden. This study focus on how do these three kinds of tax planning strategies affect corporate operating performance. The data of this study is from year 2010 to 2014 a total of 1,636 Taiwan-listed corporations in electronic industry. The relevant empirical results are shown below: First, the relationship between the degree of investment in research and development and corporate operating performance: They show a significant positive correlation. Second, the intensity of setting affiliates in tax haven and corporate operating performance: They are negatively correlated, but the correlation is not significant. Third, transfer pricing among affiliates deviated from arm’s length principle with corporate operating performance: They show a significant positive correlation. Among these three comprehensive tax-planning strategies, research and development activities influence most significantly on the corporate operating performance. Therefore, this study concluded that investments in research and development help corporations to improve long-term productivity of the enterprise, or breakthrough innovation, and further promote business operations performance growth. But set up affiliates in tax haven influencing less on corporate operating performance. Infer that governments and international organizations gradually reinforce investigating and establish a sound tax system in order to prevent tax avoidance through the paper companies. Besides, the tax planning doesn’t create any real value to affiliates. As the trend of fighting against tax avoidance increasingly popular around the world, setting up companies in tax haven may also make additional corporate tax risk exposure. Transfer pricing among affiliates deviated from arm’s length principle with corporate operating performance has positively correlated, but relatively less significant than the impact of research and development activities. Infer that this strategy only takes tax minimization as primary consideration, and not directly help to enhance long-term corporate operating performance.

民國八十八年內政部頒布「都市計畫容積移轉實施辦法」，允許公共設施保留地土地所有權人將土地(容積)予以出售給開發業者，由業者支付價金，政府並從中無償取得該容積移轉後的土地，纾緩政府財政負擔。然而，這樣的容積移轉制度造成市場由少數私人掌控，資訊不公開透明，使市場交易產生許多問題。爰此，臺北市政府於民國一○三年六月制定「臺北市容積移轉審查許可自治條例」，期望透過政府興辦的容積銀行制度解決私人市場容積移轉的相關課題，加速公共設施保留地的取得，完善整個容積市場之發展。然而，由於容積銀行制度目前僅為初步推動階段，相關內容仍有待進一步探討，又過去文獻多集中在制度的功能與內容，對於容積銀行制度最直接影響的市場利害關係人─公共設施保留地地主、開發業者、地方政府，卻缺乏相關討論，但一公共政策的推動，除了政策本身的周延性外，也需要透過相關個人及團體的密切配合，換言之，利害關係人在政策推動中扮演著關鍵的角色。故探討容積銀行制度對於相關利害關係人之影響成為極重要之議題，期望透過不同利害關係人對於制度之看法瞭解容積銀行機制之建立對於容積移轉市場所產生的影響，並將其意見納入參考使制度更為有效周全的發展。 　　容積銀行是為解決私人市場容積移轉課題並達到健全容積市場發展之目標。故本研究首先綜整私人市場容積移轉制度之緣起目的及相關問題，並探討國內外容積銀行之相關文獻，釐清容積移轉與容積銀行之異同，其次，探究目前臺北市容積銀行制度之內容，並將其與美國各州發展權銀行制度做綜合比較分析，作為後續問卷訪談內容之基礎與容積銀行機制研擬之重要參考依據。在問卷訪談部分，公共設施保留地地主與開發業者本研究採發放問卷形式；而在地方政府部門部分則以訪談形式進行調查。 　　最後，根據國內外文獻回顧及制度相關利害關係人之問卷訪談調查結果，本研究分析容積銀行制度對於利害關係人可能產生的正負影響層面，並根據不同利害關係人之看法及建議，提出「容積銀行機制之研擬」，將制度應具備之目標歸納為六大項目，分別為：提高容積資訊透明度、保障交易價格、穩定容積市場供需量體、加速公共設施保留地之取得、保障容積交易過程、健全都市建設發展。此外，本研究也研擬了容積銀行制度的操作架構與相關具體內容，透過建立容積資訊系統、研擬公平合理補償及估價機制、並說明容積代金收入如何有效運用，而容積銀行也需有專責機構負責，明確規範政府的角色功能等，建構更完整的容積銀行運作模式。另外，本研究也針對臺北市提出未來容積銀行制度發展之方向與相關配套措施，期望對於容積銀行有更完善的機制研擬，提供未來政府推動容積銀行政策相關之建議與參考面向。

本論文字數共為八萬字左右，分為五章。 第一章緒論，分為研究目的、研究範圍與研究方法。 第二章為技術移轉之概念，分為技術移辦之意義，技術移轉之功能，技術移轉之過程 與通路，最適技術之選擇，技術之吸收，發展及擴散。 第三章為中韓兩國的工業化過程與國外技術之引進，分為兩國工業發展過程之分析， 兩國國外技術引進現況之分析。 第四章為中韓兩國技術生根之擴大，分為技術生根之基本政策，引進技術之吸收，擴 散及研究發展，政府對技術開發之支援制度。 第五章為展望與建議。

本研究主要探討台灣學生英語的拒絕語言行為(refusal speech act)與美國學生之異同，並探討社會地位高低及啟始行為(initiating acts)兩個變數對語言行為之影響。此外在拒絕時,所使用的句法修飾(syntactic mitigation)及詞彙修飾(lexical mitigation)之類型與頻率,其所用的句型是否與美國學生不同, 以進一步探究學習者母語對其中介語(interlanguage)是否有負面移轉作用。 本研究採用質性及量化研究方法，研究對象為40位以中文為母語的大學學生, 40位英語為母語的美國大學學生,及40位學習英語為外語的大學學生, 各組男女各半。研究工具為言談填充測驗(Discourse Completion Test), 包含12個不同情境(4個請求, 4個建議, 4個邀請),藉此問卷收集受試者語言行為之表現。 本研究的主要發現如下：間接拒絕策略是最常被三組學生使用的拒絕行為。其次,社會地位高低及啟始行為(initiating acts)兩個變數下對三組學生語言行為有不同影響, 而以後者影響尤鉅。除此之外, 台灣學生的英語中介語的語用能力,不僅反映在句法修飾及詞彙修飾兩方面, 同時在直接拒絕行為也與美國大學學生有顯著差異。本文進一步發現學習者母語對拒絕行為之影響, 拒絕之語序及直接與間接拒絕策略的負面移轉作用。本論文並提出教學上之應用建議，讓學生英語學習更有成效。 / Refusals can be regarded as a pragmatic universal, but refusal performance varies with cultures and is constrained by factors like status and initiating acts. However, the relative weight of these factors placed on each type of refusal strategy varies from culture to culture, or even within the same speech community due to intra-lingual variations (Blum-Kulka, 1987). In order to find out the complexity of cross-cultural differences in the realization of this face-threatening act, we investigated refusal speech acts performed by native speakers of Mandarin Chinese, EFL learners and native speakers of American English with the variation of social status and initiating acts. In addition, we compared EFL learners and Americans on linguistic structures including common directive forms, syntactic and lexical refusal mitigation as well as types of errors in the interlanguage of refusals. We also observed evidence of negative pragmatic transfer in EFL learners’ performance in three main categories of refusal strategies and refusal sequences, and tried to explain the causes of the transfer. Three groups of subjects participated in this study: 40 native speakers of American English (NE), 40 native speakers of Mandarin Chinese (NC), 40 Chinese EFL low-intermediate proficiency learners. They were asked to react by writing in the format of discourse completion task (DCT), which consisted of scripted dialogues with the manipulation of the interlocutors’ social status and initiating acts. The results were coded based on the taxonomy developed by Beebe, Takahashi and Uliss-Weltz (1990), and were analyzed qualitatively and quantitatively. Results showed that indirect refusals were the most frequently used main strategy type in the three groups examined. The effect of social status and initiating acts affected the three groups’ performance to a different degree; initiating acts seemed to be a more decisive force in influencing groups’ refusal behaviors. In terms of refusal mitigation, we have found that significantly more syntactic mitigation like interrogatives, conditionals, conditional clause, etc. were employed by Americans to soften the force of refusals. However, similar to the findings in Chen (2006), EFL learners mainly limited their use of modality in their refusals on types of deontic and epistemic modalities whereas Americans were more flexible in using different kinds with the variation of context. Generally, EFL learners’ refusal performance exhibited deviations from native speakers’ norms. Therefore pedagogical implications were suggested which included that teachers should build up EFL learners’ linguistic knowledge, teacher-fronted talk can be supplemented by additional activities that broaden the range of speech acts and provide a broader opportunities for learners. Also, instructors should provide contextual information regarding the similarities and/or differences between L1 and the target language under the influence of social status. Types of initiating act should be included in EFL teaching so that students’ awareness of these social constraints could be activated and they can integrate such information to facilitate their interlanguage system.