Pengaruh Komite Audit dan Managerial Entrenchment terhadap Agresivitas Pajak serta Implikasinya terhadap Kinerja Keuangan Perusahaan
Abstract
This study aims to analyze the relationship between the audit committee and managerial entrenchment on tax aggressiveness and its implications for the company’s financial performance. A total of 71 manufacturing companies on the Indonesian Stock Exchange during the 2015-2017 periode were research samples. The results of data analysis using Partial Least Square show that managerial entrenchment and tax aggressiveness have a significant negative effect on financial performance. Managerial entrenchment reduces the company’s demand for monitoring of managers which results in a decrease in financial performance. Meanwhile, tax aggressiveness can cover managers’ rent extraction actions that impact on declining financial performance.
Keywords: Audit Committee; Managerial Entrenchment; Tax Aggressiveness; Financial Performance.
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References
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Hanlon, M., & Slemrod, J. (2009). What Does Tax Aggressiveness Signal? Evidence From Stock Price Reactions to News About Tax Shelter Involvement. Journal of Public Economic, 93, 126–141.
Hapsoro, D. (2008). Pengaruh Mekanisme Corporate Governance Terhadap Kinerja Perusahaan: Studi Empiris di Pasar Modal Indonesia. Jurnal Akuntansi Dan Manajemen, 19(3), 155–172.
Jensen, C. M., & Meckling, W. H. (1976). Theory of The Firm: Managerial Behavior, Agency Costs and Ownership Structure. Journal of Financial Economics, 3(4), 305–360.
Kartikaningdyah, E., & Putri, R. N. (2017). Pengaruh Tax Avoidance dan Board Diversity terhadap Kinerja Perusahaan dalam Perspektif Corporate Governance. Journal of Applied Accounting and Taxation, 2(2), 114–122.
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Midiastuty, P. P., Suranta, E., & Ramdhan, P. M. (2017). Pengaruh Kepemilikan Terkonsentrasi Dan Corporate Governance Terhadap Agresivitas Pajak. Proceedings Simposium Nasional Akuntansi XX. Jember, 1–26.
Mohamed, E. Ben, Jarboui, S., Baccar, A., & Bouri, A. (2015). On The Effect of CEOs Personal Characteristics in Transport Firm Value? A Stochastic Frontier Model. Case Studies on Transport Policy, 3(2), 176–181. https://doi.org/10.1016/j.cstp.2015.01.001
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Pradana, A. B., & Ardiyanto, M. D. (2017). Pengaruh Karakteristik Pengawasan Dewan Komisaris Terhadap Agresivitas Pajak Perusahaan. 6(4), 1–9.
Saputra, A. D. (2018). Pengaruh Insentif Eksekutif, Corporate Risk, Corporate Governance, Dan Konservatisme Akuntansi Terhadap Tax Avoidance. Universitas Islam Indonesia.
Sari, S. R., Astuti, T. P., Suseno, A. E., & Rahmawati. (2017). Kepemilikan Keluarga dan Tindakan Pajak Agresif. Proceedings Simposium Nasional Akuntansi XX. Jember.
Shleifer, A., & Vishny, R. W. (1988). Management Entrenchment: The Case of Manager-Specific Investments. Journal of Financial Economics, 25, 123–139. https://doi.org/10.1016/0304-405X(88)90048-7
Sudiyatno, B., & Puspitasari, E. (2010). Tobin’s q dan Altman Z-Score Sebagai Indikator Pengukuran Kinerja Perusahaan. Kajian Akuntansi, 2(1), 9–21.
Sugiyono. (2012). Metode Penelitian Bisnis (Pendekatan Kuantitatif, Kualitatif, dan R&D). Bandung: Alfabeta.
Surroca, J., & Tribo, J. A. (2008). Managerial Entrenchment and Corporate Social Performance. 35(July), 748–789. https://doi.org/10.1111/j.1468-5957.2008.02090.x
Utami, R. P., & Syafiqurrahman, M. (2017). Pengaruh Organ-Organ Pendukung Good Corporate Governance Terhadap Tax Avoidance. Jurnal InFestasi, 13(2), 380–389.
Walsh, J. P., & Seward, J. K. (1990). On The Efficiency of Internal and External Corporate Control Mechanisms. Academy of Management Review, 15(3), 421–458.
Watts, R. L., & Zimmerman, J. L. (1986). Positive Accounting Theory. Prentice Hall International Inc.
Widyati, M. F. (2013). Pengaruh Dewan Direksi, Komisaris Independen, Komite Audit, Kepemilikan Manajerial, dan Kepemilikan Institusional Terhadap Kinerja Keuangan. Jurnal Ilmu Manajemen, 1(1), 234–249.
Wulansari, N., & Dewi, H. R. (2017). Pengaruh Kepemilikan Institusional, Proporsi Dewan Komisaris Independen, Komite Audit, Konservatisme Akuntansi, Pertumbuhan Penjualan Dan Leverage Terhadap Penghindaran Pajak. Proceedings Simposium Nasional Akuntansi XX. Jember, 1–27.
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www.ortax.org. (2007). Inilah Delapan Tersangka Kasus Pajak Asian Agri. Retrieved from 2007 website: https://ortax.org/ortax/?mod=berita&page=show&id=559&q=&q=&hlm=846%0A
Yuniarwati, Ardana, I. C., Dewi, S. P., & Lin, C. (2017). Factors That Influence Tax Avoidance in Indonesia Stock Exchange. Chinese Business Review, 16(10), 510–517. https://doi.org/10.17265/1537-1506/2017.10.005
Zheng, T., Jiang, W., Zhao, P., Jiang, J., & Wang, N. (2019). Will the Audit Committee Affects Tax Aggressiveness ? Proceedings of The Twelfth International Conference on Management Science and Engineering Management, 1313–1326. https://doi.org/10.1007/978-3-319-93351-1
Balakrishnan, K., Blouin, J., & Guay, W. (2011). Does Tax Aggressiveness Reduce Financial Reporting Transparency ? Pennsylvania.
Blaylock, B. S. (2016). Is Tax Avoidance Associated with Economically Significant Rent Extraction among U . S . Firms ?*. Contemporery Accounting Research, 33(3), 1013–1043. https://doi.org/10.1111/1911-3846.12174
Brochet, F., & Gao, Z. (2004). Managerial Entrenchment and Earnings Smoothing. New York.
Chen, S., Chen, X., & Shevlin, T. (2010). Are family firms more tax aggressive than non-family firms ? *. Journal of Financial Economics, 91(1), 414–461.
Desai, M. A., & Dharmapala, D. (2006). Corporate Tax Avoidance and High-Powered Incentives. Journal of Financial Economics, 79, 145–179.
Dewi, N. N. K., & Jati, I. K. (2014). Pengaruh Karakter Eksekutif, Karakteristik Perusahaan, dan Dimensi Tata Kelola Perusahaan Yang Baik Pada Tax Avoidance Di Bursa Efek Indonesia. E-Jurnal Akuntansi Universitas Udayana, 6(2), 249–260.
Dikolli, S. S., Mayew, W. J., & Nanda, D. (2014). CEO tenure and the performance-turnover relation. Review of Accounting Studies, 19(1), 281–327. https://doi.org/10.1007/s11142-013-9247-6
Dyreng, S., Hanlon, M., & Maydew, E. L. (2018). When Does Tax Avoidance Result in Tax Uncertainty ? When Does Tax Avoidance Result in Tax Uncertainty? The Accounting Review, 94(2), 179–203.
Edogbanya, A., & Kamardin, H. (2006). Company reporting transparency and firm performance in nigeria. Asia Pacific of Advanced Business and Social Studies, 2(2), 346–356.
Frank, M. M., Lynch, L. J., & Rego, S. O. (2009). Tax Reporting Aggressiveness and Its Relation to Aggressive Financial Reporting. The Accounting Review, 84(2), 467–496.
Fudenberg, D., & Tirole, J. (1995). A Theory of Income and Dividend Smoothing Based on Incumbency Rents. Journal of Political Economy, 103(1), 75–93.
Gaaya, S., Lakhal, N., & Lakhal, F. (2017). Does Family Ownership Reduce Corporate Tax Avoidance? The Moderating Effect of Audit Quality Avoidance. Managerial Auditing Journal, 32(7), 731–744. https://doi.org/10.1108/MAJ-02-2017-1530
Gantino, R. (2016). Pengaruh Corporate Social Responsibility Terhadap Kinerja Keuangan Perusahaan Manufaktur yang Terdaftar di Bursa Efek Indonesia periode 2008-. Jurnal Dinamika Akuntansi Dan Bisnis, 3(2), 19–32.
Hair, J. F., Hult, G. T. M., Ringle, C. M., & Sarstedt, M. (2014). A Primer on Partial Least Square Structural Equation Modeling (PLS-SEM). Los Angeles: SAGE Publications, Inc.
Handajani, L., Subroto, B., Sutrisno, T., & Saraswati., E. (2014). Pengungkapan tanggung jawab sosial perusahaan: determinan dan konsekuensi. Proceedings Simposium Nasional Akuntansi XVII. Lombok.
Hanlon, M., & Slemrod, J. (2009). What Does Tax Aggressiveness Signal? Evidence From Stock Price Reactions to News About Tax Shelter Involvement. Journal of Public Economic, 93, 126–141.
Hapsoro, D. (2008). Pengaruh Mekanisme Corporate Governance Terhadap Kinerja Perusahaan: Studi Empiris di Pasar Modal Indonesia. Jurnal Akuntansi Dan Manajemen, 19(3), 155–172.
Jensen, C. M., & Meckling, W. H. (1976). Theory of The Firm: Managerial Behavior, Agency Costs and Ownership Structure. Journal of Financial Economics, 3(4), 305–360.
Kartikaningdyah, E., & Putri, R. N. (2017). Pengaruh Tax Avoidance dan Board Diversity terhadap Kinerja Perusahaan dalam Perspektif Corporate Governance. Journal of Applied Accounting and Taxation, 2(2), 114–122.
Katz, S., Khan, U., & Schmidt, A. P. (2015). Tax Avoidance and DuPont Measures of Future Performance. In Columbia Business School Research Paper.
Komite Nasional Kebijakan Governance. Corporate Governance. , (2006).
Lanis, R., & Richardson, G. (2011). J . Account . Public Policy The effect of board of director composition on corporate tax aggressiveness. Journal of Accounting and Public Policy, 30(1), 50–70. https://doi.org/10.1016/j.jaccpubpol.2010.09.003
Manik, T. (2011). Analisis Pengaruh Kepemilikan Manajemen, Komisaris Independen, Komite Audit, Umur Perusahaan Terhadap Kinerja Keuangan. Journal of Entrepreneurship, Management and Industry, 2(2), 25–36.
Mardiasmo. (2011). Perpajakan Edisi Revisi. Yogyakarta: Andi Offset.
Meo, D. F., Manuel, J., Lara, G., & Surroca, J. A. (2017). Managerial Entrenchment and Earnings Management. Journal of Accounting and Public Policy, 36(5), 399–414. https://doi.org/10.1016/j.jaccpubpol.2017.07.003
Midiastuty, P. P., Suranta, E., & Ramdhan, P. M. (2017). Pengaruh Kepemilikan Terkonsentrasi Dan Corporate Governance Terhadap Agresivitas Pajak. Proceedings Simposium Nasional Akuntansi XX. Jember, 1–26.
Mohamed, E. Ben, Jarboui, S., Baccar, A., & Bouri, A. (2015). On The Effect of CEOs Personal Characteristics in Transport Firm Value? A Stochastic Frontier Model. Case Studies on Transport Policy, 3(2), 176–181. https://doi.org/10.1016/j.cstp.2015.01.001
Okrayanti, T. Y., Utomo, S. W., & Nuraina, E. (2017). Pengaruh Karakteristik Perusahaan Dan Corporate Governance Terhadap Tax Avoidance. Forum Ilmiah Pendidikan Akutansi Universitas PGRI Madiun, 5(1), 804–817.
Pradana, A. B., & Ardiyanto, M. D. (2017). Pengaruh Karakteristik Pengawasan Dewan Komisaris Terhadap Agresivitas Pajak Perusahaan. 6(4), 1–9.
Saputra, A. D. (2018). Pengaruh Insentif Eksekutif, Corporate Risk, Corporate Governance, Dan Konservatisme Akuntansi Terhadap Tax Avoidance. Universitas Islam Indonesia.
Sari, S. R., Astuti, T. P., Suseno, A. E., & Rahmawati. (2017). Kepemilikan Keluarga dan Tindakan Pajak Agresif. Proceedings Simposium Nasional Akuntansi XX. Jember.
Shleifer, A., & Vishny, R. W. (1988). Management Entrenchment: The Case of Manager-Specific Investments. Journal of Financial Economics, 25, 123–139. https://doi.org/10.1016/0304-405X(88)90048-7
Sudiyatno, B., & Puspitasari, E. (2010). Tobin’s q dan Altman Z-Score Sebagai Indikator Pengukuran Kinerja Perusahaan. Kajian Akuntansi, 2(1), 9–21.
Sugiyono. (2012). Metode Penelitian Bisnis (Pendekatan Kuantitatif, Kualitatif, dan R&D). Bandung: Alfabeta.
Surroca, J., & Tribo, J. A. (2008). Managerial Entrenchment and Corporate Social Performance. 35(July), 748–789. https://doi.org/10.1111/j.1468-5957.2008.02090.x
Utami, R. P., & Syafiqurrahman, M. (2017). Pengaruh Organ-Organ Pendukung Good Corporate Governance Terhadap Tax Avoidance. Jurnal InFestasi, 13(2), 380–389.
Walsh, J. P., & Seward, J. K. (1990). On The Efficiency of Internal and External Corporate Control Mechanisms. Academy of Management Review, 15(3), 421–458.
Watts, R. L., & Zimmerman, J. L. (1986). Positive Accounting Theory. Prentice Hall International Inc.
Widyati, M. F. (2013). Pengaruh Dewan Direksi, Komisaris Independen, Komite Audit, Kepemilikan Manajerial, dan Kepemilikan Institusional Terhadap Kinerja Keuangan. Jurnal Ilmu Manajemen, 1(1), 234–249.
Wulansari, N., & Dewi, H. R. (2017). Pengaruh Kepemilikan Institusional, Proporsi Dewan Komisaris Independen, Komite Audit, Konservatisme Akuntansi, Pertumbuhan Penjualan Dan Leverage Terhadap Penghindaran Pajak. Proceedings Simposium Nasional Akuntansi XX. Jember, 1–27.
www.detik.com. (2014). Kejagung PT. Asian Agri Lunasi Denda Rp 25 Triliun. Retrieved from 2014 website: https://www.detik.com/news/berita/d-2698916/kejagung-pt-asian-agri-lunasi-denda-rp-25-triliun
www.ortax.org. (2007). Inilah Delapan Tersangka Kasus Pajak Asian Agri. Retrieved from 2007 website: https://ortax.org/ortax/?mod=berita&page=show&id=559&q=&q=&hlm=846%0A
Yuniarwati, Ardana, I. C., Dewi, S. P., & Lin, C. (2017). Factors That Influence Tax Avoidance in Indonesia Stock Exchange. Chinese Business Review, 16(10), 510–517. https://doi.org/10.17265/1537-1506/2017.10.005
Zheng, T., Jiang, W., Zhao, P., Jiang, J., & Wang, N. (2019). Will the Audit Committee Affects Tax Aggressiveness ? Proceedings of The Twelfth International Conference on Management Science and Engineering Management, 1313–1326. https://doi.org/10.1007/978-3-319-93351-1
Published
2020-02-17
How to Cite
ANDIKA NOVIAWAN, Lalu; HANDAJANI, Lilik; ARDANA PUTRA, I Nyoman Nugraha.
Pengaruh Komite Audit dan Managerial Entrenchment terhadap Agresivitas Pajak serta Implikasinya terhadap Kinerja Keuangan Perusahaan.
E-Jurnal Akuntansi, [S.l.], v. 30, n. 2, p. 428 - 446, feb. 2020.
ISSN 2302-8556.
Available at: <https://ojs.unud.ac.id/index.php/akuntansi/article/view/54359>. Date accessed: 21 nov. 2024.
doi: https://doi.org/10.24843/EJA.2020.v30.i02.p12.
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