PENGARUH PENGHINDARAN PAJAK DAN RISIKO PAJAK TERHADAP NILAI PERUSAHAAN DENGAN KOMISARIS INDEPENDEN SEBAGAI PEMODERASI
DOI:
https://doi.org/10.31092/jpi.v4i2.1436Keywords:
penghindaran pajak, risiko pajak, nilai perusahaan, komisaris independenAbstract
This study aims to examine whether tax avoidance and tax risk affect the value of the company and examine whether the existence of an independent commissioner moderates the effect of tax avoidance and tax risk on company value. Multiple regression analysis of 180 companies a year was conducted. The results of this study indicate that tax avoidance has a positive effect on firm value, while tax risk has no effect. In addition, this study also concludes that independent commissioners are seen by investors as a party that inhibits tax avoidance by management so as not to maximize the shift in prosperity from the state to investors. This research has implications (1) for companies, the practice of avoidance of tax avoidance that will not aggressively increase the value of the company, (2) for taxation institutions it provides an overview of tax risks in Indonesia in the context of drafting legislation.
Penelitian ini bertujuan untuk menguji apakah penghindaran pajak dan risiko pajak berpengaruh terhadap nilai perusahaan dan menguji apakah keberadaan komisaris independen memoderasi pengaruh penghindaran pajak dan risiko pajak terhadap nilai perusahaan. Analisis regresi berganda terhadap 180 perusahaan tahun dilakukan. Hasil penelitian ini menunjukkan bahwa penghindaran pajak berpengaruh positif terhadap nilai perusahaan, sedangkan risiko pajak tidak berpengaruh. Hal ini menunjukkan bahwa pemegang saham menilai positif penghindaran pajak yang dilakukan manajemen, mereka memandang bahwa penghindaran pajak tersebut dapat meningkatkan kesejahteraan pemegang saham. Di sisi lain, risiko pajak tidak berpengaruh terhadap nilai perusahaan. Selain itu, penelitian ini juga menyimpulkan bahwa komisaris independen dipandang investor sebagai pihak yang menghambat penghindaran pajak oleh manajemen sehingga tidak memaksimalkan pergeseran kemakmuran dari negara ke investor. Penelitian ini memberikan implikasi (1) bagi perusahaan, praktik penghindaran penghindaran pajak yang tidak agresif akan meningkatkan nilai perusahaan, (2) bagi institusi perpajakan hal ini memberikan gambaran risiko pajak di Indonesia dalam rangka penyusunan peraturan perundangan.
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