The Effect of Non-Financial Factors on Firm Value with Tax Aggressiveness as Moderating (original) (raw)

Determinant of Tax Aggressiveness and Relationship with Firm Value (Empirical Study Company Listed Go-Public in Indonesia Stock Exchange)

Jurnal Ekonomi Bisnis dan Kewirausahaan, 2020

This study aims to determine the effect of liquidity, profitability, and solvability on the level of tax aggressiveness with firm value as a control variable. Total sample was 86 non-financial company that implicate tax aggressiveness in Indonesia Stock Exchange (IDX), with purposive sampling, with cross section data period 2007 to 2017. This study using agency theory and signaling theory as the grand theory. The data were analyzed using Structural Equation Modeling- Partial Least Square (SEM-PLS). This study uses a SmartPLS 3.0 and must pass outer and inner criteria. The reason why the author choose SmartPLS is because this application program can explain each indicator of the variable, so will be easy to evaluate which indicator that not have the correspondent affect with the dependend variable. The previous studies of ETR showed inconsistent results in various countries. Test results show that liquidity and profitability have a negative and significant influenced with tax aggress...

The effect of tax planning activities and firm characteristic: Evidence from Indonesia

AKURASI: Jurnal Riset Akuntansi dan Keuangan

This study's purpose of contributing to the literature by empirically examining the effect of tax planning, activities, financial debt, audit quality, and firm investment on the firm value. This study adopts quantitative method research using panel regression with 1,264 data samples for model 1 and 1,291 data samples for model 2 with observation year from 2017-2021. This study shows that audit quality and tax planning have a significant positive impact on firm value. In contrast to firm investment, financial debt has a significant negative effect on firm value, which has insignificant results. This research contribution is that companies should pay attention to the selection of auditors for a financial audit because the auditor's role has a positive impact on the firm value. Also, investors can see the value of companies eligible for investment considering the tax planning activities in advance of the company carried out. The novelty of this research is the use of measuremen...

Moderating effect of firm performance on firm value: Evidence from Indonesia

Problems and Perspectives in Management

The practice of accounting conservatism, determination of capital structure, and firm performance are important elements in influencing firm value, either directly or through moderation. Firm performance as a reflection of company`s policy plays an important role as a variable that can moderate this influence. Thus, this study aims to examine the role of firm performance in influencing firm value, particularly in moderating the effect of accounting conservatism and capital structure. To test this role, managerial ownership and institutional ownership are viewed as control variables. A total of 43 manufacturing companies from the Indonesia Stock Exchange (IDX) were sampled from 153 manufacturing companies listed from 2017 to 2019 to achieve this target. The data collection approach in this study was purposive sampling, and the data analysis method was multiple regression. The results showed a statistically significant positive effect between accounting conservatism and firm value, wh...

The Effect of Firm Size and Profitability on Firm Value with Tax Avoidance as Intervening Variable in Miscellaneous Industry Sector Companies Listed on the Indonesia Stock Exchange in the Period of 2015-2019

Firm Value is one of the investor's perceptions of company success level that is reflected on stock prices. High stock prices make the value of companies higher. Several factors can affect firm value, including firm size, profitability, and tax avoidance. The sample used in this study is miscellaneous industry sector companies listed on the Indonesia Stock Exchange in the period of 2015-2019. This study used the Partial Least Square (PLS) method. The analysis technique used in this study is the inner model analysis and hypothesis testing. The result of this study showed that firm size and tax avoidance do not affect firm value, and profitability has a positive and significant effect on firm value while firm size does not affect tax avoidance and profitability has a negative and significant effect on tax avoidance. However, tax avoidance is unable to mediate the effect of firm size and profitability on firm value. The coefficient determination test results indicate that the firm value variable can be explained by the variation of variable firm size, profitability, and tax avoidance is 44,7%, and the remaining 55,3% is explained by other independent and intervening variables which are not examined in this study. While tax avoidance variable can be explained by the variation of variable firm size, profitability, and firm value is 20% and remaining 80% is explained by other independent and dependent variables which are not examined in this study.

THE EFFECT OF TAX AVOIDANCE, CAPITAL STRUCTURE AND SIZE OF COMPANIES TO VALUE OF THE COMPANY (Empirical Study of Financial Sector Companies Listed on the Indonesia Stock Exchange Period 2011 - 2015)

PROCEEDINGS INTERNATIONAL SEMINAR ON ACCOUNTING SOCIETY, 2020

The purpose of this research is to determine the effect of tax avoidance, capital structure and company size on the value of the company in financial sector companies listed on the Indonesia Stock Exchange in the period 2011-2015. The population in this study are financial sector companies listed on the Indonesia Stock Exchange (IDX) for the period 2011-2015. The number of manufacturing companies that were sampled in this study were 16 companies with observations over 5 years. Based on the purposive sampling method, the total research sample is 80 financial statements. Hypothesis testing in this study uses multiple regression analysis with the application of the SPSS 22 program. The results of this study indicate that tax avoidance and capital structure do not significantly influence the value of the company, but the size of the company has a significant effect on the value of the company.

The Influence of Good Corporate Governancy Mechanism on Company Profit Management as Moderating Variables (Empirical Study on Real Estate and Property Companies Listed in Indonesia Stock Exchange in 2010 - 2015)

International Journal of Public Budgeting, Accounting and Finance, 2018

The Objective of the research was to examine and analyze the influence of the mechanism of GCG (Good Corporate Governance) on profit management to examine and analyze firm size in moderating the correlation of GCG with profit management in real estate and property companies listed in BEI (Indonesia Stock Exchange). The research used descriptive quantitative explanatory method. The population was 34 real estate and property companies listed in BEI which did their financial statement in the period of December 31, 2010-2015. The samples were taken by using probability random sampling technique with Slovin formula. The data were analyced by using descriptive statistic analysis and multiple linear regression analysis. The result of the research, using F-test, showed that the mechanism of GCG which consisted of institutional ownership, audit committee, and risk management commitrr had significant influence on profit management in real estate and property companies listed in BEI in the period of 2010-2015. Partiallly, only institutional ownership and independent Board of Commisioners had positive and significant influence on profit management, while Audit Committee had negative and significant influence. Only Risk Management Committee had negative and insignificant influence on profit management in real estate and property companies listed in BEI in theat period. Firm size could moderate the mechanism of GCG which consisted of institutional ownership, audit committee, and risk management committee so that it had significant influence on profit management in real estate and property companies listed in BEI in the period of 2010-2015.

Determinants of Firm Value in Indonesia: Financial Factors or Non Finan-cial Factors?

International Journal of Multidisciplinary: Applied Business and Education Research, 2022

Firm value plays an important role for public companies because it can affect investor perceptions. The company is always trying to improve the quality of the company to be able to compete in the capital market to attract investors. The success of the company can only be achieved through good company management, improving company performance, so that in the end it can increase company value. This study aims to examine the factors that affect firm value in Indonesia. The factors used in this study are corporate social responsibility, environmental disclosure, ownership concentration, and earnings quality. The research sample is manufacturing companies on The Indonesia Stock Exchange with a research period of 2017-2019. The research sample consists of 127 observations. Data were analyzed using linear regression. The results of this study show that corporate social responsibility, environmental disclosure, and ownership concentration affected firm value, while earnings quality did not ...

Analysis of Factors Affecting Tax Aggressivity in Property and Real Estate Companies Listed in Indonesia Stock Exchange, 2017-2019

2021

This research aims to analyze the factors that influence tax aggressiveness in property and real estate companies listed on the Indonesia Stock Exchange in 2017-2019. The factors include leverage, profitability, Capital Intensity Ratio, and inventory intensity. Leverage is proxied using the Debt-to-Equity Ratio (DER) formula, profitability is proxied using the Retrun On Assets (ROA) formula, and tax aggressiveness is proxied using the Effective Tax Rate (ETR). This type of research is quantitative. The population in this study were property and real estate companies listed on the Indonesia Stock Exchange for the period 2017-2019 which consisted of 62 companies with a total population of 62. Determination of the sample using a random sampling method with the Slovin formula with a total of 53 samples selected. The results showed that Leverage has no significant effect on tax aggressiveness. Profitability has no significant effect on tax aggressiveness. Capital Intensity Ratio has a si...

Examining the Impact of Liquidity, Leverage and Earning Management on Corporate Tax Aggressiveness in Property and Real Estate Companies on Indonesia Stock Exchange

2020

This study aims to examine whether the effect of liquidity on tax aggressiveness, the effect of leverage on tax aggressiveness, the effect of earnings management on tax aggressiveness on property and real estate companies listed on the Indonesia Stock Exchange (IDX). This study uses a descriptive quantitative research approach, which is measured using a method based on multiple linear regression with SPSS 25.00. The population of this research is property and real estate companies registered on the Indonesia Stock Exchange (IDX) from 2014 to 2018. The sample was determined based on the purposive sampling method, with a total sample of 29 manufacturing companies so that the total observation in this study was 145 observations. The data used in this research is secondary data. The data collection technique using the method of documentation via the official website IDX: www.idx.co.id. Hypothesis testing using descriptive statistical tests, data normality tests, classic assumption tests with linear regression. The results of the study prove that (1) Liquidity has no significant effect on tax aggressiveness, (2) Leverage has a significant effect on tax aggressiveness, (3) Earning Management has no significant effect on tax aggressiveness.

Analysis of Tax Avoidance Effect on Firm Value (A Study on Firms Listed on Indonesia Stock Exchange)

There are many factors that can affect firm value, including taxation. Taxes paid by firms to the government is a quite significant burden that firms often commit tax avoidance in order to minimize tax expense. The objective of this research is to examine the effect of tax avoidance committed by firms on the value of firms listed on Indonesia Stock Exchange in 2009-2016. The proxy for firm value in this research is Price to Book Value per Share (PBVS), while the proxy for tax avoidance is Effective Tax Rates (ETR). The final samples used in this study include 2,276 observations. From the result of fixed effect method unbalanced panel data regression, it can be concluded that tax avoidance, which is measured by effective tax rate, does not significantly affect firm value. This implies that 1) the sample firms do not use tax avoidance as an instrument to increase their firm value and 2) the investors no longer value the tax avoidance activities as an alternative to increase firm value since it has some risks that potentially will be faced by the firm in the future if there is an investigation executed by taxation authority. The firms should perform the other value-added activities to increase their firm value rather than tax avoidance activities.