本研究以我國2013年至2017年辦理現金減資之上市櫃企業為樣本，採用事件研究法分析股東可扣抵稅額減半宣告對股價之影響，另以迴歸分析法探討股東可扣抵稅額減半制度對企業現金減資與發放現金股利決策之關聯。
研究結果證實，股東可扣抵稅額減半宣告對股價具有顯著正向異常報酬。在股東可扣抵稅額減半實施後，企業發放現金股利決策並未因辦理現金減資而受到影響。
This study takes the enterprises that have applied for cash reduction in Taiwan from 2013 to 2017 as a sample, and uses the event research method to analyze the impact of the halved imputation credit announcement on the share price, and the regression analysis method to explore the halving system of halved imputation credit. The relationship between corporate cash reduction and cash dividend decision making.
The results of the study confirmed that the shareholder deductible tax deduction was declared to have a significant positive abnormal return on the share price. After the implementation of the halved imputation credit, the decision to issue cash dividends was not affected by the cash reduction.
