Tata Kelola Perusahaan dalam Penghindaran Pajak : Peran Ceo Overconfidence
Abstract
Tax aggressiveness merupakan strategi perencanaan pajak atau strategi manajerial yang dilakukan oleh perusahaan untuk mengurangi beban pajak dan meminimalkan kewajiban pajak sesuai dengan peraturan perundang-undang negara. Tujuan penelitian untuk mengetahui pengaruh tata kelola perusahaan terhadap tax aggressiveness perusahaan dalam krisis politik dan memeriksa apakah ada faktor perkembangan khusus dari tax aggressiveness dalam pemantauan tata kelola tersebut. Teknik pengumpulan data berupa laporan keuangan yang terdaftar di Bursa Efek Indonesia (BEI) dari tahun 2017 sampai dengan 2021. Pengujian yang digunakan berupa regresi panel pada 355 perusahaan dengan periode observasi pada tahun 2017-2021 dengan menggunakan program SPSS sebagai hasil pengujian. Hasil penelitian menunjukkan bahwa managerial ownership (MANO) berpengaruh signifikan positif pada tax aggressiveness (ETR), concentration ownership (CONO) berpengaruh signifikan positif pada tax aggressiveness (ETR), dan juga concentration ownership (CONO) berpengaruh signifikan positif pada tax aggressiveness (ETR) yang dimoderasi oleh CEO overconfidence (COVC).
Kata Kunci: Tax Aggressiveness; Board’s Characteristics; Ownership’s Nature; CEO Overconfidence.
Abstract
Tax aggressiveness is a tax planning strategy or managerial strategy carried out by companies to reduce tax burdens and minimize tax obligations in accordance with state laws and regulations. The purpose of the study is to determine the effect of corporate governance on corporate tax aggressiveness in political crises and check whether there are special developmental factors of tax aggressiveness in monitoring such governance. Data collection techniques are in the form of financial statements listed on the Indonesia Stock Exchange (IDX) from 2017 to 2021. The test used was in the form of panel regression in 355 companies with an observation period in 2017-2021 using the SPSS program as a test result. The results showed that managerial ownership (MANO) had a significant positive effect on tax aggressiveness (ETR), concentration ownership (CONO) had a significant positive effect on tax aggressiveness (ETR), and also concentration ownership (CONO) had a significant positive effect on tax aggressiveness (ETR) moderated by CEO overconfidence (COVC).
Keywords: Tax Aggressiveness; Board’s Characteristics; Ownership’s Nature; CEO Overconfidence.
Full Text:
Download PDFReferences
Ali, A., Qiang, F., & Ashraf, S. (2018). Regional dynamics of ownership structure and their impact on firm performance and firm valuation: A case of Chinese listed companies. Review of International Business and Strategy, 28(1), 128–146. https://doi.org/10.1108/RIBS-02-2017-0017
Ali, Z., & Tauni, M. Z. (2021). CEO overconfidence and future firm risk in China: the moderating role of institutional investors. Chinese Management Studies, 15(5), 1057–1084. https://doi.org/10.1108/CMS-04-2019-0147
Alkausar, B., Kawakibi, F. B., & Lasmana, M. S. (2021). Corporate Governance And Tax Aggressiveness: Agency Theory Relationship. Jurnal Reviu Akuntansi Dan Keuangan, 11(1), 138–149. https://doi.org/10.22219/jrak.v11i1.15610
Annuar, H. A., Salihu, I. A., & Obid, S. N. S. (2014). Corporate Ownership, Governance and Tax Avoidance: An Interactive Effects. Procedia - Social and Behavioral Sciences, 164(August), 150–160. https://doi.org/10.1016/j.sbspro.2014.11.063
Armstrong, C. S., Blouin, J. L., Jagolinzer, A. D., & Larcker, D. F. (2015). Corporate governance, incentives, and tax avoidance. Journal of Accounting and Economics, 60(1), 1–17. https://doi.org/10.1016/j.jacceco.2015.02.003
Badertscher, B. A., Katz, S. P., & Rego, S. O. (2013). The separation of ownership and control and corporate tax avoidance. Journal of Accounting and Economics, 56(2–3), 228–250. https://doi.org/10.1016/j.jacceco.2013.08.005
Boussaidi, A., & Hamed-Sidhom, M. (2020). Board’s characteristics, ownership’s nature and corporate tax aggressiveness: new evidence from the Tunisian context. EuroMed Journal of Business. https://doi.org/10.1108/EMJB-04-2020-0030
Bouzouitina Asma, Khaireddine, M., & Jarboui, A. (2021). Do CEO overconfidence and narcissism affect corporate social responsibility in the UK listed companies? The moderating role of corporate governance. Society and Business Review, 16(2), 156–183. https://doi.org/10.1108/SBR-07-2020-0091
Chen, J., Leung, W. S., Song, W., & Goergen, M. (2019). Why female board representation matters: The role of female directors in reducing male CEO overconfidence. Journal of Empirical Finance, 53, 70–90. https://doi.org/10.1016/j.jempfin.2019.06.002
Chen, S., Chen, X., Cheng, Q., & Shevlin, T. (2010). Are family firms more tax aggressive than non-family firms? Journal of Financial Economics, 95(1), 41–61. https://doi.org/10.1016/j.jfineco.2009.02.003
Chyz, J. A., Gaertner, F. B., Kausar, A., & Watson, L. (2019). Overconfidence and Corporate Tax Policy. Review of Accounting Studies, 24(3), 1114–1145. https://doi.org/10.1007/s11142-019-09494-z
Dakhli, A. (2021). Do women on corporate boardrooms have an impact on tax avoidance? The mediating role of corporate social responsibility. Corporate Governance: The International Journal of Business in Society, ahead-of-p(ahead-of-print). https://doi.org/10.1108/cg-07-2021-0265
Goh, B. W., Lee, J., Lim, C. Y., & Shevlin, T. (2016). The effect of corporate tax avoidance on the cost of equity. Accounting Review, 91(6), 1647–1670. https://doi.org/10.2308/accr-51432
Halioui, K., Neifar, S., & Abdelaziz, F. Ben. (2016). Corporate governance, CEO compensation and tax aggressiveness: Evidence from American firms listed on the NASDAQ 100. In Review of Accounting and Finance (Vol. 15, Issue 4, pp. 445–462). https://doi.org/10.1108/RAF-01-2015-0018
Hribar, P., & Yang, H. (2016). CEO Overconfidence and Management Forecasting. Contemporary Accounting Research, 33(1), 204–227. https://doi.org/10.1111/1911-3846.12144
Hsieh, T. S., Wang, Z., & Demirkan, S. (2018). Overconfidence and tax avoidance: The role of CEO and CFO interaction. Journal of Accounting and Public Policy, 37(3), 241–253. https://doi.org/10.1016/j.jaccpubpol.2018.04.004
Jamei, R. (2017). International Journal of Economics and Financial Issues Tax Avoidance and Corporate Governance Mechanisms: Evidence from Tehran Stock Exchange. International Journal of Economics and Financial Issues, 7(4), 638–644. http:www.econjournals.com
Jarboui, A., Kachouri Ben Saad, M., & Riguen, R. (2020). Tax avoidance: do board gender diversity and sustainability performance make a difference? Journal of Financial Crime, 27(4), 1389–1408. https://doi.org/10.1108/JFC-09-2019-0122
Jensen, M., & Meckling, W. (1976). Theory of the firm: Managerial behavior, agency costs, and ownership structure. The Economic Nature of the Firm: A Reader, Third Edition, 283–303. https://doi.org/10.1017/CBO9780511817410.023
Kao, M. F., Hodgkinson, L., & Jaafar, A. (2019). Ownership structure, board of directors and firm performance: evidence from Taiwan. Corporate Governance (Bingley), 19(1), 189–216. https://doi.org/10.1108/CG-04-2018-0144
Khurana, I. K., & Moser, W. J. (2013). Institutional shareholders’ investment horizons and tax avoidance. Journal of the American Taxation Association, 35(1), 111–134. https://doi.org/10.2308/atax-50315
Kilincarslan, E. (2021). The influence of board independence on dividend policy in controlling agency problems in family firms. International Journal of Accounting and Information Management, 29(4), 552–582. https://doi.org/10.1108/IJAIM-03-2021-0056
Kouaib, A., & Jarboui, A. (2016). Real earnings management in innovative firms: Does CEO profile make a difference? Journal of Behavioral and Experimental Finance, 12, 40–54. https://doi.org/10.1016/j.jbef.2016.09.002
Kubick, T. R., & Lockhart, G. B. (2017). Overconfidence, CEO Awards, and Corporate Tax Aggressiveness. Journal of Business Finance and Accounting, 44(5–6), 728–754. https://doi.org/10.1111/jbfa.12237
Li, Z., Unlu, E., & Wu, J. (2021). Are social connections of independent directors all the same? Evidence from corporate monitoring. International Journal of Managerial Finance. https://doi.org/10.1108/IJMF-01-2021-0049
Madah Marzuki, M., & Syukur, M. S. (2021). The effect of audit fees, audit quality and board ownership on tax aggressiveness: evidence from Thailand. Asian Review of Accounting, 29(5), 617–636. https://doi.org/10.1108/ARA-11-2020-0179
Nadeem, M., Zaman, R., & Saleem, I. (2017). Boardroom gender diversity and corporate sustainability practices: Evidence from Australian Securities Exchange listed firms. Journal of Cleaner Production, 149, 874–885. https://doi.org/10.1016/j.jclepro.2017.02.141
Richardson, G., Taylor, G., & Lanis, R. (2013). The impact of board of director oversight characteristics on corporate tax aggressiveness: An empirical analysis. Journal of Accounting and Public Policy, 32(3), 68–88. https://doi.org/10.1016/j.jaccpubpol.2013.02.004
Richardson, G., Taylor, G., & Lanis, R. (2016). Women on the board of directors and corporate tax aggressiveness in Australia An empirical analysis. Accounting Research Journal, 29(3), 313–331. https://doi.org/10.1108/ARJ-09-2014-0079
Sumunar, K., & Djakman, C. (2020). Ceo Overconfidence, Esg Disclosure, and Firm Risk. Jurnal Akuntansi Dan Keuangan Indonesia, 17(1), 1–21. https://doi.org/10.21002/jaki.2020.01
Tingting Ying, Brian Wright, W. H. (2016). Ownership Structure and Tax Aggressiveness of Chinese Listed Companies Article information :
Vacca, A., Iazzi, A., Vrontis, D., & Fait, M. (2020). The role of gender diversity on tax aggressiveness and corporate social responsibility: Evidence from Italian listed companies. Sustainability (Switzerland), 12(5). https://doi.org/10.3390/su12052007
Ying, T., Wright, B., & Huang, W. (2017). Ownership structure and tax aggressiveness of Chinese listed companies. International Journal of Accounting and Information Management, 25(3), 313–332. https://doi.org/10.1108/IJAIM-07-2016-0070
Zemzem, A., & Ftouhi, K. (2013). The Effects of Board of Directors ’ Characteristics on Tax Aggressiveness. Research Journal in Finance and Accounting, 4(4), 140–148.
DOI: https://doi.org/10.37531/sejaman.v4i3.2819
Refbacks
- There are currently no refbacks.
