EFFECT OF TAX PLANNING ON COMPANIES apostrophe MARKET VALUE: EVIDENCE FROM LISTED COMPANIES IN INDONESIAN STOCK EXCHANGE

AYA PUTRI ARGATIKA, Supriyadi, M.Sc., Ph.D., CMA., CA.,

2017 | Skripsi | AKUNTANSI

Penelitian ini dirancang untuk mengevaluasi efek dari tax planning terhadap nilai perusahaan. Variabel-variabel yang diuji dalam penelitian ini adalah tax planning (yang diukur menggunakan effective tax rate dan tax savings), nilai perusahaan, financial leverage dan earnings per share. Penelitian ini menggunakan sampel yang berjumlah 65 perusahaan publik dalam sektor manufaktur yang terdaftar di Bursa Efek Indonesia (BEI), dalam rentang waktu 2013 sampai dengan 2015. Sampel dipilih melalui purposive sampling. Metode statistik yang digunakan untuk menguji hipotesis dalam penelitian ini adalah regresi linear berganda. Hasil penelitian ini adalah tax planning (yang diukur dengan ETR) memiliki pengaruh positif yang signifikan terhadap nilai perusahaan dan tax planning (yang diukur dengan tax savings) tidak memiliki pengaruh yang signifikan terhadap nilai perusahaan.

This research is designed to evaluate the effect of tax planning on company value. Variables tested in this study are tax planning (both measured by effective tax rate and by tax savings), company value, financial leverage, and earnings per share. This study employed a sample of 65 public companies, that were included in the manufacturing sector listed in Indonesia Stock Exchange (BEI), within the period of 2013 to 2015. The samples were selected through purposive sampling. The statistical method used to test the hypothesis in this study is multiple linear regression. The results of this study are tax planning (as measured by ETR) has a significant positive effect on firm value and tax planning (as measured by tax savings) does not have a significant effect on the value of the company.

Kata Kunci : Tax Planning, Effective Tax Rate, Tax Savings, MVE, Financial Leverage, and EPS