The Effect of Tax Avoidance and Dividend Policies on Company Value With Leverage as Moderation Variables

A high increase in company value is a long-term goal that must be achieved by a company, which is reflected in the market price of its shares because investors' assessment of the company can be seen through the movement of the stock prices of companies listed on the stock exchange. stock exchange for companies that have gone public. This has an impact on shareholders to maintain their investment and potential investors are interested in investing in the company. This study aims to analyze the effect of tax avoidance and dividend policy on firm value with leverage as a moderating variable. The population in this study were manufacturing companies listed on the Indonesia Stock Exchange from 2016 to 2018, totaling 166 companies, while the sample of this study was 18 companies with a purposive sampling method. The research method used is descriptive statistics, classic assumption testing and hypothesis testing multiple linear regression analysis. The results show that tax avoidance is not significant to firm value, dividend policy has a significant effect on firm value, leverage does not moderate tax avoidance on firm value, leverage. does not moderate dividend policy on firm value, and tax avoidance and dividend policy affect firm value

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The Effect of Ownership Structure and Financial Performance on Firm Value with Dividend Policy as Moderating Variable at Property and Real Estate Companies

Volume 5 - 2020, Issue 9 - September - International Journal of Innovative Science and Research Technology ◽

10.38124/ijisrt20jul542 ◽

2020 ◽

Vol 5 (7) ◽

pp. 638-645

Author(s):

Witya Shalini ◽

Erlina . ◽

Prihatin Lumban Raja

Keyword(s):

Real Estate ◽

Firm Value ◽

Dividend Policy ◽

Stock Exchange ◽

Linear Regression Analysis ◽

Sampling Technique ◽

Institutional Ownership ◽

Multiple Linear Regression Analysis ◽

Managerial Ownership ◽

Company Value

This study aims to determine managerial ownership, institutional ownership, liquidity, leverage, and profitability on firm value with dividend policy as a moderating variable. This type of research is explanatory research with a quantitative approach. The population used in this study are property and real estate companies listed on the Indonesia Stock Exchange from 2010 to 2018. The sampling technique uses purposive sampling so that the selected sample is 16 companies. This study uses descriptive statistical data analysis and multiple linear regression analysis. The results of this study indicate that 1). Managerial Ownership, Institutional Ownership, and Liquidity do no effect on Company Value. 2). Leverage has a negative and significant impact on Company Value. 3). Profitability has a positive and significant impact on Company Value. 4). Dividend Policy cannot moderate the effect of the Managerial Ownership relationship on Company Value. 5). Dividend policy can partially influence the relationship of Institutional Ownership, Liquidity, Leverage, and Profitability to Company Value.

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PENGARUH PROFITABILITAS, LEVERAGE DAN KEBIJAKAN DIVIDEN TERHADAP NILAI PERUSAHAAN PROPERTI, REAL ESTATE DAN KONSTRUKSI BANGUNAN

E-Jurnal Manajemen Universitas Udayana ◽

10.24843/ejmunud.2019.v08.i09.p14 ◽

2019 ◽

Vol 8 (9) ◽

pp. 5632

Author(s):

Putu Diah Melinda Yanti ◽

Nyoman Abundanti

Keyword(s):

Real Estate ◽

Firm Value ◽

Dividend Policy ◽

Stock Exchange ◽

Linear Regression Analysis ◽

Multiple Linear Regression Analysis ◽

Factors Affecting ◽

Construction Companies ◽

Company Value ◽

Observation Method

This study was conducted to examine the effect of profitability, leverage and dividend policy on the value of companies in property, real estate and building construction companies on the Indonesia Stock Exchange which distributed dividends in a period between 2014 and 2017. Thirteen samples were examined. (13) companies selected through purposive sampling method that determines certain criteria in determining samples to be used in the observation period for four years. The data collection method used in this study is a nonparticipant observation method, namely by observing the company's financial statements. Data analysis was done by multiple linear regression analysis techniques. Based on the results of the analysis it was found that profitability and leverage had a significant positive effect on firm value, while dividend policy had a negative and insignificant effect. This indicates that dividend policy is not one of the main factors affecting the value of the company. Keywords: company value, dividend, profitability, leverage

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PENGARUH LEVERAGE FINANCIAL DAN KEBIJAKAN DIVIDEN TERHADAP NILAI PERUSAHAAN (STUDI PADA PERUSAHAAN MANUFAKTUR DI BURSA EFEK INDONESIA)

Jurnal Ekonomi Balance ◽

10.26618/jeb.v8i2.2188 ◽

2012 ◽

Vol 8 (2) ◽

pp. 116-141

Author(s):

Sri Indira Hartawati

Keyword(s):

Firm Value ◽

Dividend Policy ◽

Stock Exchange ◽

Linear Regression Analysis ◽

Secondary Data ◽

Sampling Technique ◽

Multiple Linear Regression Analysis ◽

Manufacturing Companies ◽

Financial Leverage ◽

Exchange Data

This study aims to examine and analyze the effect of partially or simultaneously financial leverage and dividend policy on firm value in manufacturing companies on the Indonesian stock exchange. Data collection uses secondary data using purposive sampling technique. The population in this study is the automotive sub-sector manufacturing companies and components listed on the Indonesia stock exchange during the 2014-2016 period of 15 companies, while the samples taken were the number of observations for 3 years (2014-2016) with the number of companies observing 12 obtained were analyzed using multiple linear regression analysis. The results show that all hypotheses have a significant effect based on the t test and F test. This means that both partially and simultaneously financial leverage and dividend policy have a significant effect on firm value in manufacturing companies on the Indonesian stock exchange.

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Pengaruh Likuiditas, Kebijakan Dividen, Profitabilitas, dan Ukuran Perusahaan pada Nilai Perusahaan

E-Jurnal Akuntansi ◽

10.24843/eja.2019.v27.i02.p16 ◽

2019 ◽

pp. 1263

Author(s):

Gusti Ayu Putri Cahyani ◽

Ni Gusti Putu Wirawati

Keyword(s):

Firm Value ◽

Dividend Policy ◽

Stock Exchange ◽

Linear Regression Analysis ◽

Sampling Technique ◽

Multiple Linear Regression Analysis ◽

Company Size ◽

Company Value ◽

Analysis Technique ◽

Positive Effect

Signal theory emphasizes that company information can be responded differently by investors. One method used to analyze company value is using the Price to Book Value (PBV) approach. This study aims to analyze the effect of liquidity, dividend policy, profitability, and firm size on firm value. This research was conducted on companies listed in the LQ 45 index on the Indonesia Stock Exchange in 2013-2016. The number of samples taken as many as 10 companies used the nonprobability sampling method with a purposive sampling technique, so that the number of samples during the 4 years of observation became 40 companies. The data analysis technique used is multiple linear regression analysis. The results of the analysis show that liquidity and profitability have a positive effect on firm value, while dividend policy and company size have no effect on firm value. Keywords: Liquidity, dividend policy, profitability, company size, and company value

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PENGARUH LEVERAGE FINANCIAL DAN KEBIJAKAN DIVIDEN TERHADAP NILAI PERUSAHAAN (STUDI PADA PERUSAHAAN MANUFAKTUR DI BURSA EFEK INDONESIA)

Jurnal Ekonomi Balance ◽

10.26618/jeb.v15i2.2216 ◽

2019 ◽

Vol 15 (2) ◽

pp. 116-138

Author(s):

Abdul Wahab

Keyword(s):

Firm Value ◽

Dividend Policy ◽

Stock Exchange ◽

Linear Regression Analysis ◽

Secondary Data ◽

Sampling Technique ◽

Multiple Linear Regression Analysis ◽

Manufacturing Companies ◽

Financial Leverage ◽

Exchange Data

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ANALISIS NILAI PERUSAHAAN DARI ASPEK STRUKTUR MODAL, PERTUMBUHAN PENJUALAN, DAN KEBIJAKAN DIVIDEN PADA PERUSAHAAN FARMASI DI BEI PERIODE 2014-2019

JURNAL ILMIAH EDUNOMIKA ◽

10.29040/jie.v5i1.1657 ◽

2021 ◽

Vol 5 (1) ◽

Author(s):

Fauzin Annisa ◽

Agus Dwi Cahya

Keyword(s):

Capital Structure ◽

Firm Value ◽

Dividend Policy ◽

Stock Exchange ◽

Linear Regression Analysis ◽

Sampling Technique ◽

Multiple Linear Regression Analysis ◽

Sales Growth ◽

Company Value ◽

Negative Effect

A pharmaceutical company is a healthcare company that focuses on researching, developing, and distributing drugs and/or medical devices. Firm value is the stock market value that reflects the wealth of the owner of a company. The purpose of this research is to examine whether capital structure, sales growth, and dividend policy have an influence on company value in the pharmaceutical sub-sector listed on the Indonesia Stock Exchange for the 2014-2019 period. The research population used is the pharmaceutical sub-sector companies listed on the Indonesia Stock Exchange for the 2014-2019 period, totaling 12 companies. The sampling technique used purposive sampling and obtained 6 companies based on the criteria. The analytical method used in this research is multiple linear regression analysis assisted by the SPSS application system. The results showed that simultaneously capital structure, sales growth, and dividend policy have an influence on firm value. Partially the capital structure has a significant negative effect on company value. Sales growth partially has a positive and insignificant effect on company value. Partially the dividend policy has a significant positive effect on company value. Keywords: Capital Structure, Sales Growth, Dividend Policy, and Company Value.

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Pengaruh Kinerja Keuangan, Kebijakan Dividen, Dan Kepemilikan Manajerial Terhadap Nilai Perusahaan

Owner ◽

10.33395/owner.v6i1.640 ◽

2022 ◽

Vol 6 (1) ◽

pp. 658-667

Author(s):

Tutik Alawiyah ◽

Kartika Hendra Titisari ◽

Yuli Chomsatu

Keyword(s):

Financial Performance ◽

Firm Value ◽

Dividend Policy ◽

Stock Exchange ◽

Linear Regression Analysis ◽

Sampling Technique ◽

Multiple Linear Regression Analysis ◽

Managerial Ownership ◽

Analysis Tool ◽

Manufacturing Companies

This study aims to examine and analyze the effect of financial performance (profitability, liquidity, leverage), dividend policy and managerial ownership on firm value. Manufacturing companies in the consumer goods sub-sector listed on the Indonesia Stock Exchange (IDX) for the 2016-2020 period are the samples in this study. Samples were obtained as many as 9 companies using purposive sampling technique. Multiple linear regression analysis tool. Financial performance is measured using profitability, liquidity, and leverage. The results of the study found that profitability and managerial ownership have an effect on firm value, while liquidity, leverage and dividend policy have no effect on firm value.

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Pengaruh Ukuran Perusahaan, Leverage, Kebijakan Dividen dan Profitabilitas terhadap Nilai Perusahaan Studi pada Perusahaan Manufaktur Sektor Food And Beverages

Al-Kharaj : Jurnal Ekonomi, Keuangan & Bisnis Syariah ◽

10.47467/alkharaj.v4i3.708 ◽

2021 ◽

Vol 4 (3) ◽

pp. 626-640

Author(s):

Nur Anisa ◽

Sri Hermuningsih ◽

Alfiatul Maulida

Keyword(s):

Firm Size ◽

Firm Value ◽

Quantitative Research ◽

Sampling Method ◽

Dividend Policy ◽

Linear Regression Analysis ◽

Multiple Linear Regression Analysis ◽

Manufacturing Companies ◽

Food And Beverages ◽

Selection Of

This study aims to examine the effect of firm size, leverage, dividend policy and profitability on firm value in the study of manufacturing companies in the food and beverages sector. This research uses quantitative research. The technique used in sampling is the purposive sampling method, namely the selection of samples is carried out with predetermined criteria. So that as many as 35 data were obtained from 7 food and beverages companies listed on the IDX during the 2016-2020 period. The data analysis method used is multiple linear regression analysis using the SPSS version 23 program. Based on the results of the study, it shows that: (1) firm size has no effect on firm value, (2) leverage has a negative and significant effect on firm value, (3) dividend policy has no effect on firm value, (4) profitability has a positive and significant effect on firm value. Keywords: firm size, leverage, dividend policy and profitability.

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PROFITABILITAS, KARAKTER EKSEKUTIF, KEPEMILIKAN KELUARGA DAN TAX AVOIDANCE PERUSAHAAN

Jurnal Bisnis Terapan ◽

10.24123/jbt.v4i1.2789 ◽

2020 ◽

Vol 4 (1) ◽

pp. 93-106

Author(s):

Putu Kepramareni ◽

Ida Ayu Nyoman Yuliastuti ◽

Ni Wayan Ari Suarningsih

Keyword(s):

Stock Exchange ◽

Linear Regression Analysis ◽

Tax Avoidance ◽

Multiple Linear Regression Analysis ◽

Family Ownership ◽

Manufacturing Companies ◽

Corporate Tax ◽

Purposive Sampling ◽

Analysis Technique ◽

Positive Effect

Abstrak Tax avoidance merupakan upaya yang dilakukan seseorang untuk mengurangi atau meminimalkan kewajiban pajaknya tanpa melanggar ketentuan undang-undang perpajakan yang berlaku. Wajib pajak berusaha untuk meringankan kewajiban pembayaran pajak dengan meminimalkan jumlah pajak yang harus dibayar. Terdapat beberapa faktor yang dapat mempengaruhi seseorang dalam melakukan tax avoidance yaitu profitabilitas, karakter eksekutif dan kepemilikan keluarga. Penelitian ini bertujuan untuk menguji pengaruh dari variabel-variabel tersebut yaitu variabel profitabilitas, karakter eksekutif dan kepemilikan keluarga terhadap variabel tax avoidance. Penelitian ini dilakukan pada perusahaan manufaktur yang terdaftar di Bursa Efek Indonesia selama periode 2014-2018. Sampel yang digunakan dalam penelitian ini sebanyak 14 perusahaan yang diperoleh melalui metode purposive sampling dan diteliti selama 5 tahun sehingga sampel dalam penelitian ini sebanyak 70 sampel. Teknik analisis data yang digunakan dalam penelitian ini adalah teknik analisis regresi linear berganda. Hasil analisis menunjukkan bahwa profitabilitas tidak berpengaruh terhadap tax avoidance perusahaan, sedangkan karakter eksekutif dan kepemilikan keluarga berpengaruh positif terhadap tax avoidance perusahaan. Kata kunci: profitabilitas, karakter eksekutif, kepemilikan keluarga dan tax avoidance Abstract Tax avoidance is an attempt by someone to reduce or minimize their tax obligations without violating the provisions of applicable tax laws. Taxpayers try to ease the tax payment obligations by minimizing the amount of tax that must be paid. There are several factors that can influence someone in doing tax avoidance, namely profitability, executive character and family ownership. This study aims to examine the effect of these variables, namely profitability, executive character and family ownership on tax avoidance variables. This research was conducted at manufacturing companies listed on the Indonesia Stock Exchange during the 2014-2018 period. The samples used in this study were 14 companies obtained through the purposive sampling method and studied for 5 years so that the samples in this study were 70 samples. Data analysis technique used in this study is multiple linear regression analysis techniques. The analysis shows that profitability has no effect on corporate tax avoidance, while executive character and family ownership have a positive effect on corporate tax avoidance. Keywords: profitability, executive character, family ownership and tax avoidance

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The influence factors of tax avoidance in Indonesia

International Journal of Research in Business and Social Science (2147-4478) ◽

10.20525/ijrbs.v10i5.1295 ◽

2021 ◽

Vol 10 (5) ◽

pp. 01-10

Author(s):

Rosida Ibrahim ◽

Sutrisno T ◽

M Khoiru Rusydi

Keyword(s):

Regression Analysis ◽

Stock Exchange ◽

Linear Regression Analysis ◽

Influence Factors ◽

Tax Avoidance ◽

Sampling Technique ◽

Multiple Linear Regression Analysis ◽

Political Connections ◽

Family Ownership ◽

Manufacturing Companies

This study aims to analyze the effect of executive characteristics and family ownership as a stimulus factor for tax avoidance and to see the existence of a political relationship as a moderating variable in the effect of executive characteristics and family ownership on tax avoidance. This research was conducted on manufacturing companies listed on the Indonesia Stock Exchange during 2017-2019. In this study, the sample was determined based on the purposive sampling technique with the criteria that the sample company was manufacture listed on the IDX for three consecutive years from 2017-2019, published an annual report in the 2017-2019 period sequentially, did not experience delisting, was not a company the IPO in 2018-2019, did not experience any losses and did not have an ETR value of more than 1. The research sample was obtained from as many as 138 companies with 3 years of observation. This study uses multiple linear regression analysis (Multiple Regression Analysis) and Moderate Regression Analysis (MRA) using the Statistical Product and Service Solution (SPSS) program. The results showed (I) executive characteristics had a significant positive effect on tax avoidance (II) family ownership had a significant negative effect on tax avoidance (III) political connections were not able to strengthen the executive's positive influence on tax avoidance (IV) political connections weakened family ownership on tax avoidance. This study can also show that the sample companies tend to comply with tax rules, they avoid sanctions and fines, and consider the risk of loss that must be faced by the company when proven to do tax avoidance.

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