A Study on the Relationship between Luxury Tax and Operating Performance of Building Material and Construction Industry

Abstract

[[abstract]]本研究運用成對t檢定以及無母數Wilcoxon符號等級檢定以檢視奢侈稅實施與停徵對於本國建材營造業之經營績效是否具顯著影響。衡量經營績效的指標則包括財務結構、償債能力、經營能力、獲利能力與現金流量分析。實證結果指出奢侈稅實施後，建材營造業之舉債程度有顯著增加，而建材營造業整體經營能力以及獲利能力有顯著降低情況。奢侈稅停徵對於建材營造業之舉債程度、償債能力、經營能力具負向影響，但影響並不顯著。而停徵奢侈稅對於建材業獲利能力則有顯著負面的影響。[[abstract]]Thisthesisusesthepairedsamplet-testandnonparametricWilcoxonsigned-ranktesttoexaminetheeffectofluxurytaximplementationandsuspensionontheoperatingperformanceofbuildingmaterialandconstructionindustry.Indicatorsofmeasuringtheoperatingperformanceincludefinancialstructure,solvency,operatingcapacity,profitabilityandcashflowanalysis.Empiricalresultsshowthatthedegreeofdebtissignificantlyincreased,andbothoperatingcapacityandprofitabilityaresignificantlydecreasedforthebuildingmaterialandconstructionindustryaftertheluxurytaximplementation.Furthermore,luxurytaxsuspensionhasanegativeeffectonthedebtlevel,solvency,operatingcapacityforthebuildingmaterialandconstructionindustry,buttheeffectisnotsignificant.Meanwhile,luxurytaxsuspensionhasasignificantlynegativeimpactonprofitability