本研究主要探討代理問題是否影響公司經理人從事租稅規劃工具之選擇。以往公司從事租稅規劃所採用的工具，包括衍生性金融商品及裁決性應計項目。因此，本文同時探討在代理問題大與小的情況下，公司傾向使用衍生性金融商品，亦或是裁決性應計項目作為租稅規劃的工具。
本文以2010年至2019年之上市櫃公司為研究對象，實證結果表明，企業無論代理問題嚴重與否，都傾向使用裁決性應計項目從事租稅規劃。其原因可能與使用衍生性金融商品之成本有關，若公司使用衍生性金融商品的租稅優惠無法大於使用的成本，則傾向採用裁決性應計項目從事租稅規劃。
This study mainly discusses whether the agency problem affects the choice of tax planning tools for corporate managers. In the past, the tools used by companies for tax planning included derivative financial products and discretionary accruals. Therefore, this article discusses whether companies tend to use derivative financial products or discretionary accruals as a tool for tax planning when the agency problem is large and small.
This study takes the listed OTC companies from 2010 to 2019 as the research object. The empirical results show that whether the agency problem is serious or not, enterprises tend to use discretionary accruals for tax planning. The reason may result from the tradeoff between the costs and the benefits of derivatives.
