The Moderating Role Of Independent Commissioner In The Relationship Between Tax Aggressiveness And Firm Value
DOI:
https://doi.org/10.54957/educoretax.v4i2.720Kata Kunci:
Independent commissioners, Firm value, Investor perspective, Tax aggressivenessAbstrak
Tax aggressiveness poses agency problems within companies. This is due to the differing interests between and principals. Independent commissioners play a crucial role in ensuring that the decisions made by managers align with investor interests. The research further investigates the moderation role of independent commissioners on tax aggressiveness actions undertaken by managers from the investors' perspective. The sample consisted of 185 companies in the non-cyclical consumer sector listed on the Indonesia Stock Exchange (BEI) during 2018-2022. This research utilizes a quantitative method with a multiple linear regression model approach. The study's findings indicate that tax aggressiveness positively affects firm value, signaling that tax planning activities by managers are still perceived as not overly aggressive and are in line with investor interests. The study's fins also uggest that independent commissioners cannot weaken the negative impact of tax aggressiveness on firm value. This indicates that the role of independent commissioners has not yet been able to prevent tax aggressiveness actions that are not aligned with investor interests. This research fills a gap in previous studies that did not consider the role of independent commissioners as managers and supervisors in decision-making. This research implies that companies need to enhance the quality of independent commissioners by strengthening the selection process, tightening regulations regarding administrative requirements for independent commissioners by the financial services authority (OJK), and strengthening tax regulations by the tax authority (DJP), which further encourages companies to pay taxes.
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