PENGARUH PENGHINDARAN PAJAK (TAX AVOIDANCE), BIAYA AGENSI DAN PROFITBILITAS TERHADAP NILAI PERUSAHAAN (Studi Empiris Pada Perusahaan Manufaktur Yang Terdaftar di BEI Periode 2015-2018)

Abstract

Firm value is an investor’s overview on the level of company success, which mostly related to shares price. In
other words, the higher the company’s shares price, the higher its value. This research aimed to examine the effect
of tax avoidance, agency cost, and profitability on the firm value. While, the tax avoidance was measured by
Cash ETR, agency cost was measured by OETS, profitability was measured by ROE, and firm value was
measured by Tobin’s Q. The research was quantitative. Moreover, the population was manufacturing companies
which were listed on Indonesia Stock Exchange 2015-2018. Furthermore, the data collection technique used
purposive sampling. In line with, there were 156 sampels from 39 manufacturing companies. In addition, the
data analysis technique used classical assumption test and multiple linear regression with SPSS 20. The
research result concluded the tax avoidance did not e\affect the firm value. On the other hand, agency cost and
profitability had positive effect on the firm value. Meanwhile, from regression model, it showed determination
coefficient of 0.102. It meant, the tax avoidance, agency cost, and profitability could affect the firm value for only
10.2% and the rest of 89.8% was affected by other variables.
Keywords: tax avoidance, agency cost, profitability, firm value