PENGARUH KECAKAPAN MANAJERIAL DAN SET KESEMPATAN INVESTASI (IOS) TERHADAP TARIF PAJAK EFEKTIF
RUBA'I, AHMAD , Prof. Dr. Indra Wijaya Kusuma, MBA.,Ak
Penelitian ini bertujuan untuk menguji apakah kecakapan manajerial dan set kesempatan investasi sebagai indikator pertumbuhan perusahaan memiliki pengaruh terhadap tarif pajak efektif perusahaan sebagai proksi beban pajak dan perencanaan pajak perusahaan. Kecakapan manajerial didefinisikan sebagai efisiensi relatif perusahaan yang diukur dengan metode Data Envelopment Analysis. Tingkat kesempatan investasi diukur dengan menggunakan analisis faktor dari lima rasio indikator pertumbuhan perusahaan yang umum digunakan pada penelitian sebelumnya meliputi rasio market to book value of assets, rasio market to book value of equity, capital addition to book of assets, rasio plant, property and equipment to book of assets dan rasio price to earning. Tarif pajak efektif sebagai variabel dependen diukur dengan total beban pajak dibagi laba sebelum pajak. Penelitian ini menggunakan data pooled dari 41 perusahaan sampel dari sektor pemanufakturan periode tahun 2004-2007. Hasil regresi menunjukkan bahwa semakin tinggi kecakapan manajerial perusahaan semakin rendah tarif pajak efektif perusahaan dan semakin tinggi tingkat set kesempatan investasi semakin tinggi tarif pajak efektif perusahaan.
The objective of this study is to examine whether managerial ability and investment opportunity set as an indicator of firm growth, influence corporate effective tax rate, as a proxy of corporate tax burden and tax planning. Managerial ability is defined as relative efficiency measured by Data Envelopment Analysis. Investment opportunity level is measured by factor analysis utilizing five commonly used variables from previous researches including market to book value of assets ratio, market to book value of equity ratio, capital addition to book of assets ratio, plant, property and equipment to book of assets ratio and price to earning ratio. Effective tax rate as dependent variable is measured by total tax expense divided by earning before tax. This study uses pooled data from sample of 41 manufacturing firms from 2004-2007. The result of regression shows that firms with higher managerial ability have lower effective tax rate, and firms with higher level of investment opportunity set have higher effective tax rate.
Kata Kunci : Tarif Pajak Efektif, Kecakapan Manajerial, Set Kesempatan Investasi, Pertumbuhan Perusahaan, Perencanaan Pajak.
