Commissioner Independent as Moderation The Relationship of Tax Avoidance and Tax Risk To Firm Value
Abstract
The aim of this research is to determine Tax Avoidance And Tax Risk On Firm Value With Independent Commissioners As Moderation in non-cyclical consumer companies listed on the Indonesia Stock Exchange. This research is expected to prove the role of independent commissioners in increasing company value through tax avoidance and tax risk. The type of research used is quantitative research. The population used in this research is 113 non-cyclical consumer companies listed on the Indonesia Stock Exchange from 2018 to 2022. Sample selection used a purposive sampling method and 31 data were selected as research samples. This research uses panel data regression analysis and hypothesis testing. The analytical tool for testing hypotheses by EViews version 10. Based on the results of simultaneous hypothesis testing (f test), tax avoidance and tax risk jointly have a significant effect on firm value and partially (t test), it shows that tax avoidance and tax risk influence firm value. And independent commissioners are able to moderate the relationship between tax avoidance and tax risk on firm value.
Keywords: Tax Avoidance, Tax Risk, Company Value, Commissioner Independent
References
Afzal, A., & Rohman, A. (2012). Effect of investment decision, financing decision, and dividend decision on corporate value. Diponegoro Journal of Accountancy, 1(2).
Agustina, A. (2020). The influence of disclosure of Islamic social reporting, profitability, and liquidity on firm value in companies listed in Jakarta Islamic Index Indonesia Stock Exchange 2016-2019. Indonesian Interdisciplinary Journal of Sharia Economics (IIJSE), 3(1), 69-84.
Arfiansyah, Z. (2021). Pengaruh Penghindaran Pajak Dan Risiko Pajak Terhadap Nilai Perusahaan Dengan Komisaris Independen Sebagai Pemoderasi. Jurnal Pajak Indonesia (Indonesian Tax Review), 4(2). https://doi.org/10.31092/jpi.v4i2.1436
Armstrong, C. S., Blouin, J. L., Jagolinzer, A. D., & Larcker, D. F. (2015). Corporate governance, incentives, and tax avoidance. Journal of Accounting and Economics, 60(1). https://doi.org/10.1016/j.jacceco.2015.02.003
Barli, H. (2018). Pengaruh Leverage Dan Firm Size Terhadap Penghindaran Pajak (Studi Empiris pada Perusahaan sektor Property, Real Estate dan Building Construction yang Terdaftar di Bursa Efek Indonesia Periode Tahun 2013-2017). Jurnal Ilmiah Akuntansi Universitas Pamulang, 6(2).
Chan, K. C., & Li, J. (2008). Audit committee and firm value: Evidence on outside top executives as expert-independent directors. Corporate Governance: An International Review, 16(1). https://doi.org/10.1111/j.1467-8683.2008.00662.x
Desai, M. A., & Dharmapala, D. (2009). Corporate tax avoidance and firm value. Review of Economics and Statistics, 91(3). https://doi.org/10.1162/rest.91.3.537
Dewanti, M. P. R. P., & Djajadikerta, H. (2018). Pengaruh kinerja keuangan dan tata kelola perusahaan terhadap nilai perusahaan pada industri telekomunikasi di Bursa Efek Indonesia. Jurnal Akuntansi, 10(1).
Dhawan, A., Ma, L., & Kim, M. H. (2020). Effect of corporate tax avoidance activities on firm bankruptcy risk. Journal of Contemporary Accounting and Economics, 16(2). https://doi.org/10.1016/j.jcae.2020.100187
Drake, K. D., Lusch, S. J., & Stekelberg, J. (2019). Does Tax Risk Affect Investor Valuation of Tax Avoidance? Journal of Accounting, Auditing and Finance, 34(1). https://doi.org/10.1177/0148558X17692674
Eisenhardt, K. M. (1989). Agency Theory: An Assessment and Review. Academy of Management Review, 14(1). https://doi.org/10.5465/amr.1989.4279003
Firmansyah, A., & Febriyanto, A. S. (2018). The Effects of Tax Avoidance, Accrual Earnings Management, Real Earnings Management, and Capital Intensity on the Cost of Equity. Jurnal Dinamika Akuntansi, 10(1). https://doi.org/10.15294/jda.v10i1.12976
Firmansyah, A., & Muliana, R. (2018). The Effect of Tax Avoidance and Tax Risk on Corporate Risk. Jurnal Keuangan Dan Perbankan, 22(4). https://doi.org/10.26905/jkdp.v22i4.2237
Guenther, D. A., Matsunaga, S. R., & Williams, B. M. (2017). Is tax avoidance related to firm risk? Accounting Review, 92(1). https://doi.org/10.2308/accr-51408
Hanlon, M., & Heitzman, S. (2011). A Review of Tax Research. SSRN Electronic Journal. https://doi.org/10.2139/ssrn.1476561
Hidayat, A. (2013). Pengaruh Kebijakan Hutang dan Kebijakan Deviden terhadap Nilai Perusahaan. Jurnal Akuntansi, 1(3).
Hutchens, M., & Rego, S. (2013). Tax risk and the cost of equity capital. Indiana University working paer.
Ilmiani, A., & Sutrisno, C. R. (2014). Pengaruh Tax Avoidance terhadap Nilai Perusahaan dengan Transparansi Perusahaan sebagai Variabel Moderating Amalia Ilmiani Fakultas Ekonomi Universitas Pekalongan Catur Ragil Sutrisno Fakultas Ekonomi Universitas Pekalongan. Jurnal Ekonomi Dan Bisnis, 2(1).
Irawan, D., & Kusuma, N. (2019). Pengaruh Struktur Modal Dan Ukuran Perusahaan Terhadap Nilai Perusahaan. Jurnal Aktual STIE Trisna Negara, 17(1), 66–81.
Kim, J. B., Li, Y., & Zhang, L. (2011). Corporate tax avoidance and stock price crash risk: Firm-level analysis. Journal of Financial Economics, 100(3). https://doi.org/10.1016/j.jfineco.2010.07.007
Nesbitt, W. L., & Persson, A. (2017). The Relation between Tax Risk and Firm Value: Evidence from the Luxembourg Tax Leaks. SSRN Electronic Journal. https://doi.org/10.2139/ssrn.2901143
Nugrahanto, A., & Gramatika, E. (2022). Kepemilikan Manajerial Dan Kepemilikan Asing Dalam Memoderasi Pengaruh Penghindaran Pajak Terhadap Nilai Perusahaan. Jurnal Informasi, Perpajakan, Akuntansi, Dan Keuangan Publik, 17(2), 173–194.
Puspa, N. T. A., Chomsatu, Y., & Siddi, P. (2021). Pengaruh corporate social responsibility disclosure dan good corporate governance terhadap nilai perusahaan. AKUNTABEL: Jurnal Ekonomi dan Keuangan, 18(2), 200-209.
Rajab, R. A., Taqiyyah, A. N., Fitriyani, F., & Amalia, K. (2022). Pengaruh tax planning, tax avoidance, dan manajemen laba terhadap nilai perusahaan. JPPI (Jurnal Penelitian Pendidikan Indonesia), 8(2), 472-480.
Setiyawati, H., & Basar, Y. S. (2017). Pengaruh Pengungkapan Corporate Social Responsibility Dan Penerapan Good Corporate Governance Terhadap Tingkat Profitabilitas (Studi Empiris Pada Perusahaan Sektor PertambanganYang Terdaftar Di BEI. Jurnal Akuntansi, 21(3), 351-360.
Sugiyono (2019). Metode Penelitian Kuantitatif, Kualitatif, dan R&D. Bandung : Alphabet
Sujono, & Soebiantoro. (2007). Pengaruh Struktur Kepemilikan Saham, Leverage, Faktor Intern dan Faktor Ekstern Terhadap Nilai Perusahaan. Manajemen Dan Kewirausahaan, 9(1).
Utami, D. R., & Evana, E. (2020). The Influence of Audit Opinion and Managerial Ownership on Income Smoothing in Banking Companies. International Research Journal of Business Studies, 13(1).
Wardani, D. K., & Putriane, S. W. (2020). Dampak Risiko Pajak Dan Faktor Lain Terhadap Biaya Modal Perusahaan Manufaktur. Media Riset Akuntansi, Auditing & Informasi, 20(1), 83–98. https://doi.org/10.25105/mraai.v20i1.6491
Yusmaniarti, Febriyanti, & Astuti, B. (2020). Pengaruh Penerapan Good Corporate Governance, Independensi Auditor Dan Kualitas Audit Terhadap Nilai Perusahaan. JSMBI (Jurnal Sains Manajemen Dan Bisnis Indonesia), 10(1).
Additional Files
Published
Issue
Section
License
Copyright (c) 2024 Rakhmawati Oktavianna, Benarda Benarda, Sevty Wahiddirani Saputri
This work is licensed under a Creative Commons Attribution-NonCommercial-ShareAlike 4.0 International License.
Authors who publish with this journal agree to the following terms:- Authors retain copyright and grant the journal right of first publication with the work simultaneously licensed under a Creative Commons Attribution License that allows others to share the work with an acknowledgement of the work's authorship and initial publication in this journal.
- Authors are able to enter into separate, additional contractual arrangements for the non-exclusive distribution of the journal's published version of the work (e.g., post it to an institutional repository or publish it in a book), with an acknowledgement of its initial publication in this journal.
- Authors are permitted and encouraged to post their work online (e.g., in institutional repositories or on their website) prior to and during the submission process, as it can lead to productive exchanges, as well as earlier and greater citation of published work (See The Effect of Open Access).
<a rel="license" href="http://creativecommons.org/licenses/by-sa/4.0/"><img alt="Creative Commons License" style="border-width:0" src="https://i.creativecommons.org/l/by-sa/4.0/88x31.png" /></a><br />This work is licensed under a <a rel="license" href="http://creativecommons.org/licenses/by-sa/4.0/">Creative Commons Attribution-ShareAlike 4.0 International License</a>.
