유효법인세율에 영향을 미치는 결정요인에 관한 비교분석

The purpose of this study is to testify whether there is a difference between effective tax rate used by financial statement(ETR 1) and effective tax rate measured by taxable income and tax liability of a company's Auditot's report on Financial Supervisory Service's DART(ETR 2). To achieve the purpose of this paper, I analyzed firm feature variables, such as company size, R&D intensity, debt rate, equipment asset intensity, etc., which may have influence on ETR. The findings are that size and R&D intensity variables report consistently significant figures. That means small and medium size companies have received more tax preferences than large firms'. And the companies which have spent a lot of money on R&D have received more tax preferences than those that didn't. Also in the case of debt rate, the companies that spend relatively much money have been privileged with less tax burden than others' thus leading to ETR decreases. But the equipment asset intensity variable doesn't have any effect on ETR. As shown in the results, this paper provides several issues related to previous ETR researches. First, the existing studies on ETR has limits because it used the Financial Statement to calculate the actual ETR. However this study uses tax liability data of all listed firms for the first time. Second, the literatures have argued that large companies receive more tax preferences than small companies'. In the case of Korea, I could confine that small companies have more tax preferences.