Good Corporate Governance, Corporate Value, Tax Avoidance and Financial Performance

Nurma Risa

Abstract


If a company applies GCG practices it will have an impact on the value of the company. But the implementation of GCG alone is actually not enough to increase the value of the company, there are other things, namely the practice of tax avoidance and financial performance. This study aims to prove that tax avoidance and financial performance practices are intermediary variables in the relationship of GCG to corporate value. The sample of this study is companies that take the IICG survey and have CGPI scores, and are listed on the stock exchange in the period of 2012-2015. Path analysis is used as a method of data analysis. The results of the study show that the GCG practices influence the value of the company indirectly, but through the practice of tax avoidance and financial performance as intermediaries.


Keywords


Good corporate governance, corporate value, tax avoidance, financial performance

Full Text:

PDF

References


Agustiar, Denni dan Dini Widyawati. 2014. Pengaruh Corporate Governance Perception Index terhadap Kinerja Keuangan Perusahaan. Jurnal Ilmu dan Riset Akuntansi, Vol.3 No.3. 2014, hal. 1-16.

Arifani, Rizki. 2013. Pengaruh Good Corporate Governance terhadap Kinerja Keuangan Perusahaan (Studi pada Perusahaan yang Tercatat di Bursa Efek Indonesia). Diakses melalui http://portalgaruda.org, tanggal 4 Maret 2017.

Black, Bernard S.; H. Jang; W. Kim dan Kyung-Suh Park. 2008. How Corporate Governance affect Firm Value? Evidence on Channels from Korea. Papers from Social Science Research Network (SSRN). http://papers.ssrn.com. Diunduh pada 8 Februari 2017.

Brealey, Richard A. Myers, Stewart C. Marcus, Alan J. 2001. Fundamentals of Corporate Finance. 3rd edition. McGraw-Hill Publishing.

Chen, Li-Ju dan Shun-Yu Chen. 2011. The Influence Of Profitability On Firm Value With Capital Structure As The Mediator And Firm Size And Industry As Moderators. Investment Management and Financial Innovations, Volume 8, issue 3, 2011. Taiwan.

Desai, Mihir A. and Dharmapala, Dhammika. 2006. Corporate tax avoidance and high powered incentives. Journal of Financial Economics, 2006, vol.79, issue 1, pages 145-179.

Ghozali, Imam. 2011. Aplikasi Analisis Multivariate dengan Program IBM SPSS 19, Edisi 5. Badan Penerbit Universitas Diponegoro. Semarang.

Hanlon, M., & Heitzman, S. 2010. A review of tax research. Journal of accounting and Economics 50, 127-178.

Harmana, I Made Dwi dan Ketut Alit Suardana. 2014. Pengaruh Pajak Tangguhan dan Tax to Book Ratio terhadap Kinerja Perusahaan. E-jurnal Akuntansi Universitas Udayana, Vol.6 No.3. hal. 468-480.

Jensen, Michael C. & W.H. Meckling. (1976). Theory of The Firm: Managerial Behaviour, Agency Cost and Ownership Structure. Journal of Financial Economics 3. pp.305360.

Komite Nasional Kebijakan Governance. 2006. Pedoman Umum Good Corporate Governance Indonesia. Jakarta.

Maharani, I Gusti Ayu Cahya dan Ketut Alit Suardana. 2014. Pengaruh Corporate Governance, Profotabilitas dan Karekteristik Eksekutif pada Tax Avoidance Perusahaan Manufaktur. E-jurnal Akuntansi Universitas Udayana Vol. 9 No.2. hal. 525-539.

Munawir, S. 2012. Analisis Informasi Keuangan. Liberty, Yogyakarta.

Pertiwi, Tri kartika dan Ferry Madi Ika Pratama. 2012. Pengaruh Kinerja Keuangan, Good Corporate Governance terhadap Nilai Perusahaan Food and Beverage. Jurnal Manajemen dan Kewirausahaan, Vol.14, No.2, September 2012, hal.118127.

Prasiwi, Kristantina Wahyu. 2015. Pengaruh Penghindaran Pajak Terhadap Nilai Perusahaan: Transparansi Informasi Sebagai variabel Pemoderasi. Skripsi. Fakultas Ekonomika dan Bisnis Universitas Diponegoro.

Retno, Reny Dyah dan Denies Priantinah. 2012. Pengaruh Good Corporate Governance dan Pengungkapan Corporate Social Responsibility terhadap Nilai Perusahaan (Studi Empiris pada Perusahaan yang Terdaftar di Bursa Efek Indonesia Periode 2007-2010). Jurnal Nominal, Volume 1 Nomor 1, tahun 2012, hal. 84-103.

Riadi, Muchlisin. 2016. Pengertian, Pengukuran dan Penilaian Kinerja Keuangan. Diakses melalui www.kajian pustaka.com, pada tanggal 12 Nopember 2017.

Risa, Nurma. 2016. Analisis Perbandingan Penghindaran Pajak Sebelum dan Sesudah Reformasi Pajak Tahun 2008 (Studi Kasus Pada Perusahaan Manufaktur yang Terdaftar di Bursa Efek Indonesia Tahun 2006 - 2013). Jurnal Riset Akuntansi & Komputerisasi Akuntansi (JRAK). Vol. 7, No.2 Agustus 2016. Hal.11-26.

Santoso, Titus Bayu. 2014. Pengaruh Corporate Governance Terhadap Penghindaran Pajak Perusahaan. Skripsi. Fakultas Ekonomika dan Bisnis Universitas Diponegoro, Semarang.

Wijaya, Anthony dan Nanik Linawati. 2015. Pengaruh Kinerja Keuangan Terhadap Nilai Perusahaan. FINESTA, Vol. 3 No.1, 2015, hal. 46-51.




DOI: https://doi.org/10.21107/jaffa.v6i2.5020

Refbacks

  • There are currently no refbacks.


Our Journal indexed by:



Our support tools using:

 

Creative Commons License

This work is licensed under a Creative Commons Attribution 4.0 International License.