Abstract
This purpose of this study is to examine the effect of transparency on tax avoidance, the effect of tax avoidance on firm value, and the effect of transparency on relationship between tax avoidance on firm value. The sample of this study consists of 66 manufacture companies during the period of 2010-2014, with 330 total observation. The results showed that company transparency with a proxy accrual discretion and audit quality would reduce tax avoidance. It means the higher the company's transparency, the lower the tax avoidance. The results showed that tax avoidance did not affect firm value. It probably due to tax avoidance that can be interpreted as negative, positive, or neutral information by investors. The results showed that corporate transparency did not affect the relationship between tax avoidance and firm value. This result shows that investors have not seen corporate transparency as a positive signal for the valuation of company shares. The contribution of this research is to use a comprehensive proxy in measuring financial transparency, namely earnings quality, audit quality, and stock trading volume. This research implies that financial transparency or disclosure of corporate financial information is not proven to be used by investors in determining investment
Highlights
Dalam rangka mengurangi beban pajak, perusahaanatau badan melakukan perencanaan dalam bidang perpajakan atau melakukan manajemen perpajakan
This purpose of this study is to examine the effect of transparency on tax avoidance, the effect of tax avoidance on firm value, and the effect of transparency on relationship between tax avoidance on firm value
The results showed that company transparency with a proxy accrual discretion and audit quality would reduce tax avoidance
Summary
Dalam rangka mengurangi beban pajak, perusahaanatau badan melakukan perencanaan dalam bidang perpajakan atau melakukan manajemen perpajakan. Namun berbeda dengan Wang (2010), Rezaei dan Ghanaeenejad (2014) menyatakan bahwa penghindaran pajak yang dilakukan oleh perusahaan yang lebih transparan akan mengurangi nilai perusahaan. Tindakan opurtunistik inilah yang membuat penghindaran pajak berdampak negatif terhadap nilai perusahaan (Desai dan Dharmmapala, 2005).Selain itu, perencanaan pajak dapat memunculkan kesempatan bagi manajemen untuk menutupi hal buruk mengenai perusahaan yang dapat menyesatkan investor. Hipotesis yang dirumuskan berdasarkan argumentasi diatas adalah: H2: Penghindaran pajak berhubungan negatif dengannilai perusahaan Transparansi dapat diartikan sebagai keterbukaan dan keakuratan informasi yang diungkapkan oleh perusahaan kepada publik dan pihak-pihak terkait. Investor diharapkan akan memberikan nilai tambah kepada perusahaan yang melakukan penghindaran pajak serta dapat menurunkan sisi negatif dari tindakan penghindaran pajak yang dilakukan perusahaan tersebut. Gambar 1 menyajikan kerangka konseptual penelitian untuk hipotesis 1, 2 dan 3
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