Pengaruh agresivitas pajak terhadap nilai perusahaan: Efek moderasi transparansi dan kepemilikan institusional
DOI:
https://doi.org/10.24914/jeb.v23i2.2997Keywords:
Tax aggressiveness, firms’value, transparency, institutional ownershipAbstract
This study seeks to examine the effect of tax aggressiveness on firms’ value. In the analysis, two moderating variables are added, namely transparency and institutional ownership. The sample of this study is manufacturing firms that were listed on the Indonesian Stock Exchange (IDX) in 2014-2016. The sample is selected by using the purposive sampling technique. The multiple regression analysis empirically demonstrates that tax aggressiveness reduces firms’ values. However, the hypothesis that predicts that institutional ownership will mitigate the negative impact of tax aggressiveness is not empirically supported. The finding on the insignificant role of institutional ownership in moderating the negative effect of tax aggressiveness on firms’ value indicates that institutional owners do not have significant commitment, willingness, or ability to monitor firms’ tax aggressiveness. In general, this research supports the argument that suggests that firms’ tax aggressiveness negatively affects their values because tax aggressiveness increases firms’ risks. This study expectedly contributes to the tax aggressiveness literature and inform economic actors such as managers and investors to make appropriate decisions.
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