PENGARUH PERENCANAAN PAJAK, KEBIJAKAN HUTANG, DAN MANAJEMEN LABA TERHADAP NILAI PERUSAHAAN

(The Effect Of Tax Planning, Debt Policy, And Profit Management On Company Value)

Abstract

One indicator of a firm's managerial effectiveness is its company value. The company value, which is frequently linked to stock prices, is the investor's gauge of the company's degree of success. The problem in this study is reflected in the information in the books that does not correspond to the actual facts or does not have good faith. This circumstance may cause the company's value to be determined differently than what is required under tax laws. According to the author, conducting research on a company's value is crucial. The purpose of this study is to determine how debt policy, tax planning, and earnings management affect the value of food and beverage manufacturing companies listed on the Indonesia Stock Exchange (IDX) between 2018 and 2021. Quantitative research is the name given to this kind of study. For this study, a sample of 16 firms was selected using purposive sampling. The analysis was conducted using a panel regression model. According to the study's conclusions, a company's value is not significantly impacted by profit management or tax preparation. Nonetheless, the value of the corporation is positively and significantly impacted by the debt policy. This finding suggests that while earnings management has no discernible effect in the context of this study, debt policy is a key element that can raise firm value. Generally speaking, the company will encounter a dispute between management and the owners (shareholders) in order to maximize the value of the business. The conflict occurs due to differences in interests between ownership and management of the company. This difference is reflected in the information in the books that does not correspond to the actual facts or does not have good faith. This situation has the potential to result in an assessment of the company's value not in accordance with tax provisions.

Keywords: Tax, Debt, Profit