Tax Avoidance, Corporate Governance and Firm Value in The Digital Era

Abstract

In this study, we examine the link between tax avoidance and firm value and identify the moderating effect of corporate governance in this digital era. Corporate tax avoidance activities have been considered as value-enhancement activities to the companies and better quality of corporate governance would positively related to firm value. This study uses a sample of Malaysian Public Listed Companies (PLCs) which ranked the top 100 companies of good disclosure in the Malaysia-ASEAN corporate governance report 2014. It was conducted using crosssectional data by observing a final sample of 82 PLCs at one point in time. We provide evidence from Malaysia that corporate tax avoidance behaviour would actually reduce firm value and corporate governance has moderator effect on the relationship of tax avoidance and firm value. This study offers practical insights to the government and policymakers in understanding the tax avoidance behaviour of company and it helps in forming adequate and effective taxation system in Malaysia. We also give constructive apprehension to Malaysian companies to understand the negative consequences of corporate tax avoidance when engaging in tax planning activities aggressively. Most importantly, this study added more evidence to the stream of literature that investigates the role of tax avoidance strategies, as moderated by the level of corporate governance, in determining the firm value in this era of technology.

Efek Moderasi Pelaporan Berkerlanjutan dalam Pengaruh Praktik Penghindaran Pajak Terhadap Nilai Perusahaan

“…Hasil penelitian [28] menunjukkan bahwa nilai perusahaan memiliki hubungan negatif terhadapat nilai perusahaan. Hal ini disebabkan bahwa pihak pemegang sama tidak menghargai secara positif penghindaran pajak karena dianggap dapat mengakibatkan pengurangan nilai perusahaan.…”

Pengaruh Tingkat Penghindaran Pajak terhadap Nilai Perusahaan dengan Biaya Agensi sebagai Variable Mediasi

“…Nilai itu merupakan jumlah yang harus dibayarkan bagi mereka yang ingin membeli/mengambil alih bisnis tersebut (eFinancialManagement, 2018). Penghindaran pajak menurut Yee et al (2018) merupakan aktifitas penghematan pajak yang mana menambah nilai perusahaan. Secara umum penghindaran pajak adalah skema yang bertujuan meminimalkan beban pajak dengan memanfaatkan celah (loophole) ketentuan perpajakan suatu negara.…”

Penghindaran Pajak, Laporan Keberlanjutan, Corporate Governance Dan Nilai Perusahaan: Dimoderasi Ukuran Perusahaan

“…Hal ini penting untuk menjaga kepercayaan pemegang saham. Oleh karena itu, corporate governance yang di proksikan dengan kepemilikan institusional akan mampu meningkatkan pengawasan terhadap kinerja manajer perusahaan (Siew Yee et al, 2018). Hal ini sesuai dengan Iqbal & Putra (2018), Negara (2019), dan Andayani & Yanti (2021) yang menemukan pengaruh positif corporate governance terhadap nilai perusahaan…”