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  • About
  • The Global ETD Search service is a free service for researchers to find electronic theses and dissertations. This service is provided by the Networked Digital Library of Theses and Dissertations.
    Our metadata is collected from universities around the world. If you manage a university/consortium/country archive and want to be added, details can be found on the NDLTD website.
1

Ethanol and the U.S. Economy: Unintended Consequences

Evangelista, Lauren E. January 2009 (has links)
Thesis advisor: Frank Gollop / This thesis explores the unanticipated consequences of producing ethanol for use as a transportation fuel in the United States. Statistical analysis is conducted to determine the effect that increased ethanol production has on the prices of two essential American commodities: corn and gasoline. A simultaneous system of the demand and supply of corn is developed to estimate the effect of ethanol on the price of corn. The results of this model suggest that during the period 1986-2001, corn demanded for ethanol production caused the price of corn to be 19% higher than it otherwise would have been. This result is noteworthy because the majority of American foods contain some type of corn product. A second simultaneous system is developed to determine the effect of ethanol on the price of gasoline. Neither a change in the price of ethanol nor a change quantity of ethanol per gallon of gasoline was found to have a significant impact on the price of gasoline. / Thesis (BA) — Boston College, 2009. / Submitted to: Boston College. College of Arts and Sciences. / Discipline: College Honors Program. / Discipline: Economics Honors Program. / Discipline: Economics.
2

租稅負擔與公司資本結構 / A Model on the Strategy between Corporation Finance and Tax System

陳麗媛, Chen, Li-Yuan Unknown Date (has links)
影響公司資本結構的理論大體可區分為由租稅、稅盾和破產成本間的互抵關係(trade-off)、由經理人、債權人、以及股東間因利益衝突所引發的代理成本(agency cost)、以及融資順位理論(pecking order theory)等觀點來討論。其中,租稅因素包括有效稅率、以及投資抵減、租稅損失遞延等非負債性稅盾因素。而另一方面,影響有效稅率的因素則包含了公司的資本結構、公司規模、盈餘變動、各項租稅優惠等因素。很明顯的,資本結構與有效稅率兩者間有互為因果、以及聯立的關係存在。但在過去的研究中卻均未考慮到此點,目前的文獻或只論及有效稅率對資本結構之影響,或是資本結構對有效稅率之影響,均為單一方向的考慮,忽略了兩者之間相互影響的關係,因此所得之實證結果也必然有所偏誤。 因此,本文以一全新、與以往不同的聯立方程系統,而非尋舊有兩條分立之模型的方式,就實證結果來分析效稅率與資本結構之間真正的關係,並同時以橫斷面、及Panel Data之固定效果模型來進行迴歸分析。其主要結論為:我國公司之有效稅率與資本結構只存在負相關之結果,當有效稅率愈高(低),公司之舉債愈低(高),也就是說,利息費用所帶來的租稅節餘利益並不影響我國上市上櫃公司之資本結構。此結果不僅與理論不符,也與國內之前之實證研究結果相異。本文推論,這可能與投資抵減所帶來的所得效果、以及股票市場之之蓬勃發展有關。 另外,本文亦針對台灣資本市場以及稅制環境之特色,納入台灣目前停徵證券交易所得稅及土地交易所得稅之因素。實證結果顯示,免稅之證券交易所得與資本結構為負相關,反映出了台灣近幾年股票市場交易熱絡,以及公司以此作為其財務融資來源的特色,租稅因素對於公司融資行為之影響由此可見。這對於租稅中立的追求來說,並不是一個令人樂見之結果。

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