Pengaruh Tunneling Incentive dan Leverage Terhadap Keputusan Transfer Pricing
Pada Perusahaan Energi Yang Terdaftar di Bursa Efek Indonesia Tahun 2019-2023
DOI:
https://doi.org/10.32493/ekop.v6i2.52441Keywords:
Tunneling Incentive, Leverage, Transfer Pricing, Energy Sector, Indonesia Stock ExchangeAbstract
This study aims to analyze the influence of tunneling incentive and leverage on transfer pricing decisions in energy sector companies listed on the Indonesia Stock Exchange (IDX) during the 2019–2023 period. Transfer pricing refers to pricing policies in intercompany transactions within a business group, often used as a strategy to reduce tax burdens. Tunneling incentive reflects the controlling shareholders’ tendency to transfer company resources for personal gain, while leverage indicates the company’s dependency on debt financing. This study employs a quantitative approach using panel data regression analysis. The tunneling incentive variable is proxied by foreign controlling ownership exceeding 20%, leverage is measured by the Debt to Equity Ratio (DER), and transfer pricing is proxied by the ratio of related party receivables to total receivables. The results show that both tunneling incentive and leverage have a significant simultaneous influence on transfer pricing decisions. Partially, both variables also have a positive and significant effect. These findings indicate that ownership structure and corporate funding composition play important roles in a firm’s tendency to engage in transfer pricing practices. Therefore, strengthening regulations and supervision of affiliate transactions and ownership structures is crucial to prevent tax avoidance that harms state revenue. This research is expected to contribute to tax authorities, academics, and businesses by providing insights into the driving factors of transfer pricing in the Indonesian energy sector.
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