Pengaruh Tax Avoidance terhadap Nilai Perusahaan dan Agency Cost dengan Kepemilikan Institusional sebagai Variabel Moderating
(Studi Empiris pada Perusahaan Manufaktur yang Terdaftar di Bursa Efek Indonesia Tahun 2018-2022)
DOI:
https://doi.org/10.56910/jvm.v11i2.660Keywords:
Agency Cost, Firm value, Institutional ownership, Tax avoidanceAbstract
This research aims to analyze the influence of tax avoidance on company value and the role of institutional ownership as a moderating variable. Tax avoidance is measured using the Effective Tax Rate (ETR), while company value is measured using Tobin's Q. Institutional ownership is measured based on the percentage of shares owned by institutions. The research was conducted on companies listed on the Indonesia Stock Exchange (BEI) for the 2018-2022 period using a purposive sampling method, resulting in 120 observations. Data analysis was carried out using multiple linear regression and interaction tests. According to the study's findings, tax evasion significantly reduces a company's value. The inverse association between tax evasion and corporate value is mitigated by institutional ownership. These results offer investors and regulators useful insights into the relationships among business governance, shareholder value, and tax avoidance tactics.
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