Nilai Perusahaan, Corporate Social Responsibility, dan Manajemen Laba sebagai Determinan Effective Tax Rate pada Perusahaan Manufaktur Sektor Industri Indonesia Tahun 2021–2025
DOI:
https://doi.org/10.56127/jaman.v6i02.2968Keywords:
Firm Value, Corporate Social Responsibility (CSR), Earnings Management, Effective Tax Rate (ETR)Abstract
Variasi Effective Tax Rate (ETR) perusahaan memengaruhi penilaian atas beban pajak, kualitas pelaporan keuangan, dan transparansi risiko perpajakan; namun, bukti mengenai peran bersama nilai perusahaan, Corporate Social Responsibility (CSR), dan manajemen laba masih belum konsisten. Tujuan: Penelitian ini bertujuan menganalisis pengaruh parsial dan simultan nilai perusahaan, CSR, dan manajemen laba terhadap ETR pada perusahaan manufaktur sektor industri yang terdaftar di Bursa Efek Indonesia. Metode: Penelitian kuantitatif dengan desain eksplanatori dan data panel dilakukan pada 21 perusahaan selama 2021–2025 (n = 105 observasi perusahaan-tahun) yang dipilih melalui purposive sampling. Data sekunder berasal dari laporan keuangan auditan dan laporan tahunan. Analisis menggunakan regresi data panel dengan EViews 12, didahului statistik deskriptif, pemilihan model, uji diagnostik, uji t, uji F, dan Adjusted R-squared. Temuan: Nilai perusahaan berpengaruh positif terhadap ETR (β = 1,074901; t = 3,693426; p = 0,0004), sedangkan CSR tidak signifikan (β = 0,066862; t = 0,230245; p = 0,8184). Manajemen laba berpengaruh positif terhadap ETR (β = 0,963339; t = 3,492987; p = 0,0007). Secara simultan model signifikan (F = 6,490748; p = 0,000463), tetapi hanya menjelaskan 9,67% variasi ETR. Implikasi: Manajemen, investor, dan regulator perlu menafsirkan ETR bersama kualitas laba, rekonsiliasi pajak, dan karakteristik perusahaan. Kebaruan: Penelitian ini mengintegrasikan nilai pasar, pengungkapan CSR, dan akrual diskresioner dalam menjelaskan ETR pada manufaktur sektor industri Indonesia periode 2021–2025.
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