Ownership Structure, Thin Capitalization, Investment Opportunity Set dan Tax Avoidance: ESG Sebagai Variabel Moderasi

Auteurs

  • Hanna Wijaya
  • Yenni Manturino

Trefwoorden:

penghindaran pajak, struktur kepemilikan, thin capitalization, IOS, ESG

Samenvatting

Penelitian ini bertujuan untuk menganalisis pengaruh struktur kepemilikan (keluarga, pemerintah, dan asing), thin capitalization, investment opportunity set, serta Environmental, Social, and Governance (ESG) terhadap penghindaran pajak, serta menguji peran ESG sebagai variabel moderasi. Penelitian dilakukan terhadap 61 perusahaan publik non-keuangan yang terdaftar di Bursa Efek Indonesia (BEI) selama periode 2019–2023 dengan total 305 observasi. Metode analisis yang digunakan adalah regresi data panel dengan pendekatan random effect. Hasil penelitian menunjukkan bahwa struktur kepemilikan keluarga, kepemilikan asing, dan thin capitalization tidak berpengaruh signifikan terhadap penghindaran pajak. Sementara itu, struktur kepemilikan pemerintah dan investment opportunity set berpengaruh negatif terhadap penghindaran pajak. ESG secara langsung berpengaruh positif terhadap penghindaran pajak. Namun, ESG tidak memoderasi pengaruh variabel-variabel independen manapun, termasuk struktur kepemilikan keluarga, pemerintah, asing, thin capitalization, dan investment opportunity set terhadap penghindaran pajak. Temuan ini memberikan implikasi penting bagi regulator, investor, dan manajemen perusahaan dalam menyusun strategi kepatuhan fiskal yang lebih efektif serta memahami keterbatasan peran ESG sebagai alat moderasi dalam konteks penghindaran pajak.

 

 

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Gepubliceerd

2026-07-31

Nummer

Vol 7 Nr 1 (2026): APRIL

Sectie

Articles

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Copyright (c) 2026 Hanna Wijaya, Yenni Manturino

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