Pengaruh Thin Capitalization, Transfer Pricing Aggressiveness, dan Kompensasi Eksekutif terhadap Penghindaran Pajak: ESG Disclosure sebagai Variabel Moderasi
DOI:
https://doi.org/10.37385/ceej.v7i4.12099Keywords:
Thin Capitalization, Transfer Pricing Aggressiveness, Kompensasi Eksekutif, Penghindaran Pajak, ESG Disclosure, Analisis Isi, Sektor Basic Materials, Bursa Efek Indonesia.Abstract
Penelitian ini bertujuan untuk menguji pengaruh thin capitalization, transfer pricing aggressiveness, dan kompensasi eksekutif terhadap penghindaran pajak, serta menguji peran moderasi ESG Disclosure dalam hubungan tersebut. Penelitian ini menggunakan data panel seimbang yang terdiri atas 61 perusahaan sektor Basic Materials yang terdaftar di Bursa Efek Indonesia (BEI) selama periode 2020–2024, sehingga menghasilkan 305 observasi firm-year. Penghindaran pajak diproksikan menggunakan Cash Effective Tax Rate (CETR) yang dimodifikasi, yang dihitung dengan rumus (Pajak Tunai yang Dibayarkan / Laba Sebelum Pajak) × −1, sedangkan ESG Disclosure diukur melalui analisis isi terhadap 128 item GRI Standards yang bersumber dari laporan tahunan masing-masing perusahaan. Analisis data menggunakan Moderated Regression Analysis (MRA) dengan Common Effect Model (CEM) yang dipilih berdasarkan Chow Test dan Breusch-Pagan Lagrange Multiplier Test. Hasil penelitian menunjukkan bahwa thin capitalization, transfer pricing aggressiveness, dan kompensasi eksekutif masing-masing berpengaruh positif dan signifikan terhadap penghindaran pajak. ESG Disclosure secara signifikan memoderasi dan memperlemah pengaruh ketiga variabel independen tersebut terhadap penghindaran pajak, sehingga mendukung Legitimacy Theory dibandingkan perspektif moral licensing. Ukuran perusahaan sebagai variabel kontrol tidak menunjukkan pengaruh yang signifikan. Temuan ini mengimplikasikan bahwa transparansi ESG berpotensi menjadi instrumen kebijakan yang efektif untuk menekan praktik penghindaran pajak perusahaan di Indonesia.
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