Luluk Muhimatul Ifada, Nunung Ghoniyah, Nurcahyono Nurcahyono


Abstrak - Bagaimana Penghindaran Pajak dan Profitabilitas Mempengaruhi Nilai Intrinsik Perusahaan?

Tujuan Utama – Penelitian bertujuan menelaah bagaimana penghindaran pajak dan profitabilitas mempengaruhi nilai intrinsik perusahaan.

Metode – Penelitian ini menggunakan metode regresi linear berganda. Sampel penelitian ini adalah perusahaan manufaktur selama periode 2016-2020.

Temuan Utama – Profitabilitas perusahaan yang menunjukkan peningkatan laba umumnya dipandang prinsipal mampu memperluas ekspansi investasi sehingga meningkatkan nilai instrinsik. Selain itu, dividen bukan menjadi pilihan utama dalam berinvestasi karena investor lebih memilih bertransaksi untuk jangka pendek. Bagi perusahaan yang mengalami masalah, penurunan tarif pajak menjadi lebih penting.

Implikasi Teori dan Kebijakan –  Penelitian ini menunjukkan relevansi teori agensi dalam penentuan nilai intrinsik perusahaan. Pada aspek praktik, nilai intrinsik perusahaan harus dikelola manajemen karena merupakan faktor yang diperhatikan investor sehingga perusahaan perlu mengelola sumber daya, aset, atau modal yang dimiliki untuk menghasilkan keuntungan.

Kebaruan Penelitian - Penelitian ini menambahkan penghindaran pajak untuk mencari penjelasan upaya melakukan perencanaan pajak dan dampaknya.


Abstract - How Do Tax Avoidance and Profitability Influence a Firm's Intrinsic Value?

Main Purpose – The research examines how tax avoidance and profitability affect the firm's intrinsic value.

Method – This study uses multiple linear regression methods. The sample is manufacturing companies during the 2016-2020 period.

Main Findings - The profitability of companies that show an increase in profits is generally viewed by principals as being able to expand investment expansion, thereby increasing intrinsic value. In addition, dividends are not the primary choice in investing because investors prefer short-term transactions. For companies experiencing problems, lowering the tax rate is even more critical.

Theory and Practical Implications – This research demonstrates the relevance of agency theory in determining a company's intrinsic value. On the practical aspect, the firms' intrinsic value must be managed by management because it is a factor that investors pay attention to, so companies need to manage their resources, assets, or capital to generate profits.

Novelty - This research adds tax avoidance to seek explanations for tax planning efforts and their impact.


intrinsic value; dividend; profitability; tax avoindance

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