Pengaruh Tax Planning, Sales Growth, dan Capital Intensity terhadap Nilai Perusahaan : Studi Empiris pada Perusahaan Consumer Non-Cyclicals Bursa Efek Indonesia Tahun 2020-2024
DOI:
https://doi.org/10.37481/jmeb.v6i3.2395Keywords:
Tax Planning, Sales Growth, Capital Intensity, Firm Value, Panel Data RegressionAbstract
This study aims to analyze the effect of Tax Planning, Sales Growth, and Capital Intensity on Firm Value of Consumer Non-Cyclicals companies listed on the Indonesia Stock Exchange (IDX) during 2020–2024. The study employed a quantitative approach using secondary data from annual financial reports. Purposive sampling resulted in 39 companies and 195 observations. The data were analyzed using panel data regression with EViews 13, and the Random Effect Model (REM) was selected based on the model selection tests. The results show that Tax Planning and Sales Growth do not have a significant partial effect on Firm Value, while Capital Intensity has a significant effect on Firm Value. Simultaneously, Tax Planning, Sales Growth, and Capital Intensity significantly affect Firm Value. The adjusted R-squared of 0.592507 indicates that the three independent variables explain 59.25% of the variation in Firm Value, while 40.75% is explained by other variables outside the model. The findings indicate that Capital Intensity is the variable with a significant partial role in Firm Value, whereas Tax Planning and Sales Growth are not the primary determinants in the observed sample.
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