Pengaruh Tax Planning dan Kebijakan Dividen terhadap Nilai Perusahaan dengan Transparansi Perusahaan sebagai Variabel Moderasi
DOI:
https://doi.org/10.37481/jmeb.v6i3.2275Keywords:
Tax Planning, Dividend Policy, Firm Value, Corporate Transparency, Non-Cyclical Consumer SectorAbstract
In the increasingly competitive business environment, companies are required to enhance firm value while maintaining effective tax management and appropriate dividend policies. Tax planning and dividend policy are important corporate decisions that may influence investors’ perceptions and, consequently, firm value. Corporate transparency is also considered important because greater transparency can strengthen market confidence and influence how investors respond to corporate policies. Therefore, this study aims to examine the effect of tax planning and dividend policy on firm value, with corporate transparency serving as a moderating variable, among non-cyclical consumer sector companies listed on the Indonesia Stock Exchange (IDX) during the 2020–2024 period. This study employs a quantitative approach with an associative research design. Secondary data were obtained from the financial statements of non-cyclical consumer sector companies listed on the IDX. Using purposive sampling, 28 companies were selected, resulting in 140 observations. Data were analyzed using panel data regression with EViews 13. The results indicate that tax planning and dividend policy affect firm value in different directions. Corporate transparency does not moderate the effect of tax planning but moderates the effect of dividend policy on firm value. These findings emphasize the importance of transparency in supporting dividend decisions aimed at enhancing firm value.
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