| Summary: | 碩士 === 逢甲大學 === 會計學系 === 106 === The past studies point out that the greater the company's book-tax conformity (difference), earnings information will decrease (increase). As the structure of com-pensation for investments in debt and equity is different, creditors’ sensitivity to the increase or decrease in the quality of earnings information should not be as large as the response of equity investors, and therefore may lead to the shift of the company’s capital structure. This study used the listed companies in Taiwan from 2005 to 2014 as research samples, and used the undistributed surplus earnings. As an alternative variable to measure the book-tax conformity, and discussed the impact of fiscal and taxation on capital structure. The empirical results show that there is a positive cor-relation between book-tax conformity and leverage, which means that companies with increasing book-tax conformity have a higher proportion of debt compared to other companies. At the same time, the study also found that companies with book-tax conformity have higher cost of equity, indicating that the company's book-tax conformity is improved, and its capital dependence is transferred from equity to debt.
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