Investigasi Empiris: Tata Kelola Perusahaan, Kesulitan Keuangan, dan Penghindaran Pajak
Abstract
This research aims to examine the effect of corporate governance on corporate financial distress, and its impact on tax avoidance. Corporate governance is proxied by institutional ownership, the board of commissioners and the audit committee. Financial distress is measured by the Altman z-score, and tax avoidance is assessed by the ratio between the payment of income tax to profit before tax. The research objectives will be tested empirically with data from annual reports on active companies in the Jakarta Islamic Index from 2016 to 2019. Empirical data testing is carried out with path analysis that applies an error tolerance of 5 percent. The results of the analysis concluded that the elements of corporate governance, which consist of institutional ownership, the board of commissioners, and the audit committee have a negative effect on the company's financial distress and it have a negative impact on tax avoidance. Meanwhile, in a direct test of corporate governance on tax avoidance, empirical evidence is obtained that the audit committee and the board of commissioners have a direct negative effect on tax avoidance. Institutional ownership does not have a direct effect on tax avoidance.
Penelitian ini bertujuan untuk menguji pengaruh tata kelola perusahaan terhadap kesulitan keuangan perusahaan, serta dampaknya terhadap penghindaran pajak. Tata kelola perusahaan diproksikan dengan kepemilikan institusi, dewan komisaris, dan komite audit. Kesulitan keuangan diukur dengan Altman z-score, sedangkan penghindaran pajak dinilai dengan rasio antara nominal pembayaran pajak penghasilan terhadap laba sebelum pajak. Tujuan penelitian akan diuji secara empiris dengan data dari laporan tahunan pada perusahaan aktif di Jakarta Islamic Index tahun 2016 hingga 2019. Pengujian data empiris dilakukan dengan analisis jalur. Hasil analisis menyimpulkan bahwa unsur tata kelola perusahaan, yang terdiri atas kepemilikan institusi, dewan komisaris, dan komite audit berpengaruh negatif terhadap kesulitan keuangan perusahaan dan secara lebih lanjut berdampak negatif terhadap penghindaran pajak. Sementara itu, pada pengujian langsung antara tata kelola perusahaan terhadap penghindaran pajak diperoleh bukti empiris bahwa komite audit dan dewan komisaris berpengaruh negatif secara langsung terhadap penghindaran pajak. Kepemilikan institusi tidak memiliki pengaruh secara langsung terhadap penghindaran pajak. Temuan lainnya adalah bahwa komite audit dan dewan komisaris melalui kesulitan keuangan berpengaruh signifikan terhadap penghindaran pajak. Sedangkan kepemilikan institusi melalui kesulitan keuangan tidak berdampak signifikan terhadap penghindaran pajak.
Keywords
Full Text:
PDFReferences
Altman, E. I., & Hotchkiss, E. (2011). Corporate Financial Distress and Bankruptcy: Predict and Avoid Bankruptcy, Analyze and Invest in Distressed Debt (3rd ed.). Wiley.
BEI. (2021). Indeks Saham Syariah. Https://Www.Idx.Co.Id/Idx-Syariah/Indeks-Saham-Syariah/. https://www.idx.co.id/idx-syariah/indeks-saham-syariah/
Bravo-Urquiza, F., & Moreno-Ureba, E. (2021). Does compliance with corporate governance codes help to mitigate financial distress? Research in International Business and Finance, 55, 101344. https://doi.org/10.1016/j.ribaf.2020.101344
Chenchehene, J. (2019). Corporate Governance and Financial Distress Prediction in the UK. Bournemouth University for the Degree of Doctor of Philosophy.
Chiu, S.-C. (Sana), & Walls, J. L. (2019). Leadership change and corporate social performance: The context of financial distress makes all the difference. The Leadership Quarterly, 30(5), 101307. https://doi.org/10.1016/j.leaqua.2019.101307
Cita, I. G. A., & Supadmi, N. L. (2019). Pengaruh Financial Distress dan Good Corporate Governance pada Praktik Tax Avoidance. E-Jurnal Akuntansi, 29(3).
Dewinta, I. A. R., & Setiawan, P. E. (2016). Pengaruh Ukuran Perusahaan, Umur Perusahaan, Profitabilitas, Leverage, dan Pertumbuhan Penjualan terhadap Tax Avoidance. E-Jurnal Akuntansi, 14(3), 1584–1615.
Elloumi, F., & Gueyie, J.-P. (2001). Financial Distress and Corporate Governance: An empirical analysis. Corporate Governance International Journal of Business in Society, 1(1), 15–23. https://doi.org/10.1108/14720700110389548
Hanlon, M., & Heitzman, S. (2010). A review of tax research. Journal of Accounting and Economics, 50(2), 127–178. https://doi.org/10.1016/j.jacceco.2010.09.002
Hasan, Moh. A. K., Prastiwi, I. E., & Triono, D. C. (2017). Pengaruh Fee dan Religiusitas terhadap Independensi Dewan Pengawas Syariah dalam Mewujudkan Good Corporate Governance untuk Meningkatkan Kinerja BMT. Equilibrium: Jurnal Ekonomi Syariah, 5(1), 113–133.
Judge, W. Q., & Zeithaml, C. P. (1992). Institutional and Strategic Choice Perspectives on Board Involvement in the Strategic Decision Process. The Academy of Management Journal, 35(4), 766–794. https://doi.org/10.2307/256315
Lestari, G. A. W., & Putri, I. G. M. A. D. (2017). Pengaruh Corporate Governance, Koneksi Politik, Dan Leverage Terhadap Penghindaran Pajak. E-Jurnal Akuntansi Universitas Udayana, 18(3), 2028-2054.
Li, Z., Crook, J., Andreeva, G., & Tang, Y. (2020). Predicting the risk of financial distress using corporate governance measures. Pacific-Basin Finance Journal, 101334. https://doi.org/10.1016/j.pacfin.2020.101334
Liang, D., Tsai, C.-F., Lu, H.-Y. (Richard), & Chang, L.-S. (2020). Combining corporate governance indicators with stacking ensembles for financial distress prediction. Journal of Business Research, 120, 137–146. https://doi.org/10.1016/j.jbusres.2020.07.052
Magdalena, S., Yuningsih, I., & Lahaya, I. A. (2017). Pengaruh Firm Size dan Good Corporate Governance serta Corporate Social Responsibility terhadap Kinerja Keuangan pada Bank Umum Syariah di Indonesia. Equilibrium: Jurnal Ekonomi Syariah, 5(2), 221–238.
Maharani, I. G. A. C., & Suardana, K. A. (2014). Pengaruh Corporate Governance, Profitabilitas, Dan Karakteristik Eksekutif Pada Tax Avoidance Perusahaan Manufaktur. E-Jurnal Akuntansi, 9(2), 525–539.
Nadhifah, M., & Arif, A. (2020). Transfer Pricing, Thin Capitalization, financial Distress, Earning Management, dan Capital Intensity Terhadap Tax Avoidance Dimoderasi Oleh Sales Growth. Transfer Pricing, 7(2), 26.
Pardis, S. T., Sofian, S., & Abdullah, D. F. (2016). An Integrative Proposed Model of Corporate Governance: The Corporate Governance Mechanisms Mediates the Relationship between Board Intellectual Capital and Corporate Performance. International Journal of Economics and Financial Issues, 6(3). https://e-resources.perpusnas.go.id:2350/docview/1809615397/A42CC7FB2134EF6PQ/1?accountid=25704
Park, S. (2018). Related Party Transactions and Tax Avoidance of Business Groups. Sustainability, 10(10), 3571. https://doi.org/10.3390/su10103571
Rani, P. (2017). Pengaruh Ukuran Perusahaan, Financial Distress, Komite Audit,dan Komisaris Independen Terhadap Tax Avoidance (Studi Empiris pada Perusahaan Manufaktur yang terdaftar di Bursa Efek Indonesia Tahun 2012-2016). Jurnal Akuntansi Dan Keuangan, 6(2).
Richardson, G., Taylor, G., & Lanis, R. (2015). The impact of financial distress on corporate tax avoidance spanning the global financial crisis: Evidence from Australia. Economic Modelling, 44, 44–53. https://doi.org/10.1016/j.econmod.2014.09.015
Rokhaniyah, S. (2020). Investigasi Empiris: Tata Kelola Perusahaan dan Pengungkapan Sukarela pada Perbankan Syariah di Indonesia. EQUILIBRIUM: Jurnal Ekonomi Syariah, 8(2).
Sadjiarto, A., Hartanto, S., Natalia, & Octaviana, S. (2020). Analysis of the Effect of Business Strategy and Financial Distress on Tax Avoidance. Journal of Economics and Business, 3(1). http://e-resources.perpusnas.go.id:2061/eds/detail/detail?vid=0&sid=b2a0c376-f422-4e8a-ac2f-83b917b52b28%40sdc-v-sessmgr02&bdata=JnNpdGU9ZWRzLWxpdmU%3d#AN=edsair.od......2659..4ed2937e1ef891c3e4231e080fd9e215&db=edsair
Sandy, S., & Lukviarman, N. (2015). Pengaruh corporate governance terhadap tax avoidance: Studi empiris pada perusahaan manufaktur Jurnal Akuntansi Dan Auditing Indonesia, 19(2). https://journal.uii.ac.id/JAAI/article/view/4328
Sari, G. M. (2014). Pengaruh Corporate Governance, Ukuran Perusahaan, Kompensasi Rugi Fiskal Dan Struktur Kepemilikan Terhadap Tax Avoidance (Studi Empiris Pada Perusahaan Manufaktur yang Terdaftar di BEI tahun 2008-2012). Jurnal Akuntansi, 2(3), Article 3. http://ejournal.unp.ac.id/students/index.php/akt/article/view/1601
Staw, B., Sandelands, L., & Dutton, J. (1981). Threat Rigidity Effects in Organizational Behavior: A Multilevel Analysis. Administrative Science Quarterly, 26. https://doi.org/10.2307/2392337
Subagiastra, K., Arizona, I. P. E., & Mahaputra, I. N. K. A. (2017). Pengaruh Profitabilitas, Kepemilikan Keluarga, dan Good Corporate Governance Terhadap Penghindaran Pajak (Studi pada Perusahaan Manufaktur di Bursa Efek Indonesia). Jurnal Ilmiah Akuntansi, 1(2), Article 2. https://doi.org/10.23887/jia.v1i2.9994
Swandewi, N. P., & Noviari, N. (2020). Pengaruh Financial Distress dan Konservatisme Akuntansi pada Tax Avoidance. E-Jurnal Akuntansi, 30(7), 1670. https://doi.org/10.24843/EJA.2020.v30.i07.p05
Wijayani, D. R. (2016). Pengaruh Profitabilitas, Kepemilikan Keluarga, Corporate Governance dan Kepemilikan Institusional Terhadap Penghindaraan Pajak di Indonesia. Corporate Governance, 13(2).
Yuliafitri, I., & Rivald, A. I. (2017). Pengaruh Penerapan Prinsip-Prinsip Good Governance dan Promosi Terhadap Penerimaan Wakaf Tunai (Pada Lembaga Pengelola Wakaf Di Indonesia). InFestasi: Jurnal Bisnis Dan Akuntansi, 13(1), 217–226. https://doi.org/10.21107/infestasi.v13i1.3044
DOI: https://doi.org/10.21107/infestasi.v17i1.10471
Refbacks
Copyright (c) 2021 Siti Rokhaniyah
This journal is licensed under a Creative Commons Attribution 4.0 International License.