PENGARUH PERTUMBUHAN PENJUALAN DAN PENGHINDARAN PAJAK TERHADAP PENDANAAN EKSTERNAL PADA PERUSAHAAN MAKANAN DAN MINUMAN

Abstract

This research aimed to examine the effect of sales growth and tax avoidance on external funds. While sales growth was measured by Growth of Sales (GOS), tax avoidance was measured by Cash Effective Tax Rates (CETR) and External Funds was measured by Debt to Equity Ratio (DER). The population was Food and Beverages manufacturing companies which were listed on Indonesia Stock Exchange 2018-2020. Moreover, the data were in the form of financial statements through the official website of Indonesia Stock Exchange. Furthermore, the data collection technique used purposive sampling with 4 criteria given. In total, there were 48 data samples from 16 companies. Additionally, the research was quantitative. In addition, the data analysis technique used multiple linear regression with SPSS. The research result concluded that sales growth had a positive but insignificant effect on external funds. On the other hand, tax avoidance had a positive and significant effect on external funds.