APAKAH STRUKTUR KEPEMILIKAN MEMPENGARUHI PENGHINDARAN PAJAK? BUKTI EMPIRIS DARI PASAR MODAL INDONESIA
Keywords:
Tax avoidance, ownership structure, family ownership, Managerial ownership, foreign ownership, penghindaran pajak, struktur kepemilikan, kepemilikan keluarga, kepemilikan manajerial, kepemilikan asing
Abstract
Tax avoidance is an effort by company management to reduce tax payments. This study aims to examine the relationship between ownership structure and tax avoidance in manufacturing companies listed on the Indonesia Stock Exchange. Furthermore, this research divides ownership structure into five variables, namely managerial ownership, institutional ownership, family ownership, government ownership, and foreign ownership. The study utilizes secondary data with a purposive sampling approach and selects a total of 300 firm-year observations. Regression analysis is employed to test the research hypotheses. The results of the study indicate that managerial, foreign, and family ownership structures have an impact on tax avoidance
Keywords: Tax Avoidance, Ownership Structure, Family Ownership, Managerial Ownership, Foreign Ownership
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References
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Ashbaugh-Skaife, H., Collins, D. W., & LaFond, R. (2006). The effects of corporate governance on firms’ credit ratings. Journal of Accounting and Economics, 42(1–2), 203–243.
Badertscher, B. A., Katz, S. P., & Rego, S. O. (2013). The separation of ownership and control and corporate tax avoidance. Journal of Accounting and Economics, 56(2–3), 228–250.
Barros, V., & Sarmento, J. M. (2020). Board meeting attendance and corporate tax avoidance: Evidence from the UK. Business Perspectives and Research, 8(1), 51–66.
Bradshaw, M. (2019). Agency costs and tax planning when the government is a major Shareholder. Journal of Accounting and Economics, 67(2), 255–277. https://doi.org/10.1016/j.jacceco.2018.10.002
Cahan, S. F., Liu, G., & Sun, J. (2008). Investor Protection, Income Smoothing, and Earnings Informativeness. Journal of International Accounting Research, 7(1). https://doi.org/10.2308/jiar.2008.7.1.1
Chan, K. H., Lin, K. Z., & Mo, P. L. L. (2010). Will a departure from tax-based accounting encourage tax noncompliance? Archival evidence from a transition economy. Journal of Accounting and Economics, 50(1), 58–73.
Chen, S., Chen, X., Cheng, Q., & Shevlin, T. (2010). Are family firms more tax aggressive than non-family firms? Journal of Financial Economics, 95(1), 41–61.
Chow, T. K., Ke, B., Yuan, H., & Zhang, Y. (2018). What types of publicly listed firms evade taxes? Evidence from China.
Core, J. E., & Larcker, D. F. (2002). Performance consequences of mandatory increases in executive stock ownership. Journal of Financial Economics, 64(3), 317–340.
Damayanti, F., & Susanto, T. (2015). Pengaruh komite audit, kualitas audit, kepemilikan institusional, risiko perusahaan dan return on assets terhadap tax avoidance. Jurnal Bisnis Dan Manajemen, 5(2), 187–206.
Desai, M. A., & Dharmapala, D. (2006). Corporate tax avoidance and high-powered incentives. Journal of Financial Economics, 79(1), 145–179.
Desai, M. A., Dyck, A., & Zingales, L. (2007). Theft and taxes. Journal of Financial Economics, 84(3), 591–623.
Dyreng, S. D., Hanlon, M., & Maydew, E. L. (2010). The effects of executives on corporate tax avoidance. The Accounting Review, 85(4), 1163–1189.
Fernández-Rodríguez, E., García-Fernández, R., & Martínez-Arias, A. (2019). Influence of ownership structure on the determinants of effective tax rates of Spanish companies. Sustainability, 11(5), 1441.
Fuadi, F., Ratu, D. M., & Fanni, A. A. (2022). MANAGERIAL ABILITY, INCOME SMOOTHING DAN EARNINGS INFORMATIVENESS: BUKTI DARI PASAR MODAL INDONESIA. Akurasi: Journal of Accounting and Finance Studies, 5(2), 227–242.
Gaaya, S. (2017). Does family ownership reduce corporate tax avoidance? The moderating effect of audit quality. Managerial Auditing Journal, 32(7), 731–744. https://doi.org/10.1108/MAJ-02-2017-1530
Gardner, M., & Wamhoff, S. (2021). Corporate tax avoidance under the Tax Cuts and Jobs Act. Institute of Taxation and Economic Policy (ITEP) Report, July.
Graham, J. R., Harvey, C. R., & Rajgopal, S. (2005). The economic implications of corporate financial reporting. Journal of Accounting and Economics, 40(1–3), 3–73.
Hajawiyah, A., Suryarini, T., & Tarmudji, T. (2021). Analysis of a tax amnesty’s effectiveness in Indonesia. Journal of International Accounting, Auditing and Taxation, 44, 100415.
Hanlon, M., & Heitzman, S. (2010). A review of tax research. Journal of Accounting and Economics, 50(2–3), 127–178.
Hasan, I., Kim, I., Teng, H., & Wu, Q. (2022). The effect of foreign institutional ownership on corporate tax avoidance: International evidence. Journal of International Accounting, Auditing and Taxation, 46, 100440.
Hoseini, M., Safari Gerayli, M., & Valiyan, H. (2019). Demographic characteristics of the board of directors’ structure and tax avoidance: Evidence from Tehran Stock Exchange. International Journal of Social Economics, 46(2), 199–212.
Huang, H. H. (2016). Customer concentration and corporate tax avoidance. Journal of Banking and Finance, 72, 184–200. https://doi.org/10.1016/j.jbankfin.2016.07.018
Hunardy, N., & Tarigan, J. (2017). Pengaruh kepemilikan pemerintah terhadap kinerja keuangan melalui dewan komisaris independen sebagai variabel intervening. Business Accounting Review, 5(2), 601–612.
Ibrahim, R., Sutrisno, T., & Rusydi, M. K. (2021). The influence factors of tax avoidance in Indonesia. International Journal of Research in Business and Social Science (2147-4478), 10(5), 1–10.
Kemsley, D., Kemsley, S. A., & Morgan, F. T. (2022). Tax evasion and money laundering: a complete framework. Journal of Financial Crime, 29(2), 589–602.
Khan, M. (2017). Institutional ownership and corporate tax avoidance: New evidence. Accounting Review, 92(2), 101–122. https://doi.org/10.2308/accr-51529
Khelil, I., & Khlif, H. (2023). Tax avoidance in family firms: a literature review. Journal of Financial Crime, 30(4), 1021–1035.
Khurana, I. K., & Moser, W. J. (2010). Institutional ownership and tax aggressiveness.
Kim, J. H., & Im, C. C. (2017). The study on the effect and determinants of small-and medium-sized entities conducting tax avoidance. Journal of Applied Business Research (JABR), 33(2), 375–390.
Kovermann, J. (2019). Tax avoidance in family firms: Evidence from large private firms. Journal of Contemporary Accounting and Economics, 15(2), 145–157. https://doi.org/10.1016/j.jcae.2019.04.003
Maharani, W., & Juliarto, A. (2019). Pengaruh kepemilikan keluarga terhadap tax avoidance dengan kualitas audit sebagai variabel moderating. Diponegoro Journal of Accounting, 8(4).
Masripah, M., Diyanty, V., & Fitriasari, D. (2017). Controlling shareholder and tax avoidance: family ownership and corporate governance. International Research Journal of Business Studies, 8(3).
Mindzak, J., & Zeng, T. (2019). Pyramid ownership structure and tax avoidance among Canadian firms. Accounting Research Journal, 33(1), 16–33.
Minnick, K., & Noga, T. (2010). Do corporate governance characteristics influence tax management? Journal of Corporate Finance, 16(5), 703–718.
Ngelo, A. A., Permatasari, Y., Harymawan, I., Anridho, N., & Kamarudin, K. A. (2022). Corporate tax avoidance and investment efficiency: evidence from the enforcement of tax amnesty in Indonesia. Economies, 10(10), 251.
Pratama, A. (2021). Tax Agressiveness in Family Firms: Can Corporate Governance Mitigate It? Journal of Accounting, Finance, Taxation, and Auditing (JAFTA), 3(1), 1–18.
Raditya, R., Dalimunthe, Z., & Rizkianto, E. (2020). The Influence of Family Firms on Corporate Tax Avoidance after the Indonesian Tax Amnesty Program. The Proceedings of 35th IBIMA Conference: Education Excellence and Innovation Management: A, 2025.
Ratnawati, V., Freddy, D., & Hardi, H. (2018). Ownership structure, tax avoidance and firm performance. Archives of Business Research, 6(1).
Richardson, G. (2015). The impact of financial distress on corporate tax avoidance spanning the global financial crisis: Evidence from Australia. Economic Modelling, 44, 44–53. https://doi.org/10.1016/j.econmod.2014.09.015
Richardson, G. (2016). Ownership structure and corporate tax avoidance: Evidence from publicly listed private firms in China. Journal of Contemporary Accounting and Economics, 12(2), 141–158. https://doi.org/10.1016/j.jcae.2016.06.003
Richardson, Grant, Taylor, G., & Lanis, R. (2013). The impact of board of director oversight characteristics on corporate tax aggressiveness: An empirical analysis. Journal of Accounting and Public Policy, 32(3), 68–88.
Sari, D. K., & Martani, D. (2010). Ownership characteristics, corporate governance, and tax aggressiveness. The 3rd International Accounting Conference & The 2nd Doctoral Colloquium. Bali.
Sekaran, U. (2006). Metodologi penelitian untuk bisnis. Jakarta: Salemba Empat, 159.
Setyawati, W. (2019). Pengaruh Struktur Kepemilikan, Struktur Modal, Profitabilitas Terhadap Nilai Perusahaan Dengan Kebijakan Dividen Sebagai Moderasi. Jurnal Akuntansi Berkelanjutan Indonesia, 2(2), 214.
Shleifer, A., & Vishny, R. W. (1986). Large shareholders and corporate control. Journal of Political Economy, 94(3, Part 1), 461–488.
Sholihin, M., & Anggraini, P. G. (2021). Analisis Data Penelitian Menggunakan Software STATA. Yogykarta: Penerbit Andi.
Slemrod, J., & Yitzhaki, S. (2002). Tax avoidance, evasion, and administration. In Handbook of public economics (Vol. 3, pp. 1423–1470). Elsevier.
Sujendra, I. M., Ratnadi, N. M. D., Sari, M. M. R., & Rasmini, N. K. (2019). The effect of corporate social responsibility disclosure, family ownership, and good corporate governance in tax avoidance. Research Journal of Finance and Accounting, 10(6), 44–49.
Tang, T. Y. H. (2020). A review of tax avoidance in China. China Journal of Accounting Research, 13(4), 327–338.
Titick Puji, A. (2019). The effect of family ownership on aggressive tax avoidance in Indonesia. EJTR, 17, 105.
Utama, S., & Ancella, A. (2020). Family ownership and tax avoidance: an analysis of foreign related party transactions and dividend payments. International Journal of Business and Society, 21(2), 643–659.
Wang, F. (2020). CORPORATE TAX AVOIDANCE: A LITERATURE REVIEW AND RESEARCH AGENDA. Journal of Economic Surveys, 34(4), 793–811. https://doi.org/10.1111/joes.12347
Yavaş, Ç. V., & Erdogan, S. (2016). The effect of foreign ownership on firm performance: Evidence from emerging market. Proceedings of New York International Business and Social Science Research Conference, 14, 16.
Yopie, S., & Elivia, E. (2022). The effect of corporate social responsibility, family ownership on tax avoidance: The effect of audit quality moderation. Indonesian Journal of Economics, Social, and Humanities, 4(1), 29–40.
Alkurdi, A. (2020). The impact of ownership structure and the board of directors’ composition on tax avoidance strategies: empirical evidence from Jordan. Journal of Financial Reporting and Accounting, 18(4), 795–812. https://doi.org/10.1108/JFRA-01-2020-0001
Annuar, H. A., Salihu, I. A., & Obid, S. N. S. (2014). Corporate ownership, governance and tax avoidance: An interactive effects. Procedia-Social and Behavioral Sciences, 164, 150–160.
Armstrong, C. S. (2015). Corporate governance, incentives, and tax avoidance. Journal of Accounting and Economics, 60(1), 1–17. https://doi.org/10.1016/j.jacceco.2015.02.003
Ashbaugh-Skaife, H., Collins, D. W., & LaFond, R. (2006). The effects of corporate governance on firms’ credit ratings. Journal of Accounting and Economics, 42(1–2), 203–243.
Badertscher, B. A., Katz, S. P., & Rego, S. O. (2013). The separation of ownership and control and corporate tax avoidance. Journal of Accounting and Economics, 56(2–3), 228–250.
Barros, V., & Sarmento, J. M. (2020). Board meeting attendance and corporate tax avoidance: Evidence from the UK. Business Perspectives and Research, 8(1), 51–66.
Bradshaw, M. (2019). Agency costs and tax planning when the government is a major Shareholder. Journal of Accounting and Economics, 67(2), 255–277. https://doi.org/10.1016/j.jacceco.2018.10.002
Cahan, S. F., Liu, G., & Sun, J. (2008). Investor Protection, Income Smoothing, and Earnings Informativeness. Journal of International Accounting Research, 7(1). https://doi.org/10.2308/jiar.2008.7.1.1
Chan, K. H., Lin, K. Z., & Mo, P. L. L. (2010). Will a departure from tax-based accounting encourage tax noncompliance? Archival evidence from a transition economy. Journal of Accounting and Economics, 50(1), 58–73.
Chen, S., Chen, X., Cheng, Q., & Shevlin, T. (2010). Are family firms more tax aggressive than non-family firms? Journal of Financial Economics, 95(1), 41–61.
Chow, T. K., Ke, B., Yuan, H., & Zhang, Y. (2018). What types of publicly listed firms evade taxes? Evidence from China.
Core, J. E., & Larcker, D. F. (2002). Performance consequences of mandatory increases in executive stock ownership. Journal of Financial Economics, 64(3), 317–340.
Damayanti, F., & Susanto, T. (2015). Pengaruh komite audit, kualitas audit, kepemilikan institusional, risiko perusahaan dan return on assets terhadap tax avoidance. Jurnal Bisnis Dan Manajemen, 5(2), 187–206.
Desai, M. A., & Dharmapala, D. (2006). Corporate tax avoidance and high-powered incentives. Journal of Financial Economics, 79(1), 145–179.
Desai, M. A., Dyck, A., & Zingales, L. (2007). Theft and taxes. Journal of Financial Economics, 84(3), 591–623.
Dyreng, S. D., Hanlon, M., & Maydew, E. L. (2010). The effects of executives on corporate tax avoidance. The Accounting Review, 85(4), 1163–1189.
Fernández-Rodríguez, E., García-Fernández, R., & Martínez-Arias, A. (2019). Influence of ownership structure on the determinants of effective tax rates of Spanish companies. Sustainability, 11(5), 1441.
Fuadi, F., Ratu, D. M., & Fanni, A. A. (2022). MANAGERIAL ABILITY, INCOME SMOOTHING DAN EARNINGS INFORMATIVENESS: BUKTI DARI PASAR MODAL INDONESIA. Akurasi: Journal of Accounting and Finance Studies, 5(2), 227–242.
Gaaya, S. (2017). Does family ownership reduce corporate tax avoidance? The moderating effect of audit quality. Managerial Auditing Journal, 32(7), 731–744. https://doi.org/10.1108/MAJ-02-2017-1530
Gardner, M., & Wamhoff, S. (2021). Corporate tax avoidance under the Tax Cuts and Jobs Act. Institute of Taxation and Economic Policy (ITEP) Report, July.
Graham, J. R., Harvey, C. R., & Rajgopal, S. (2005). The economic implications of corporate financial reporting. Journal of Accounting and Economics, 40(1–3), 3–73.
Hajawiyah, A., Suryarini, T., & Tarmudji, T. (2021). Analysis of a tax amnesty’s effectiveness in Indonesia. Journal of International Accounting, Auditing and Taxation, 44, 100415.
Hanlon, M., & Heitzman, S. (2010). A review of tax research. Journal of Accounting and Economics, 50(2–3), 127–178.
Hasan, I., Kim, I., Teng, H., & Wu, Q. (2022). The effect of foreign institutional ownership on corporate tax avoidance: International evidence. Journal of International Accounting, Auditing and Taxation, 46, 100440.
Hoseini, M., Safari Gerayli, M., & Valiyan, H. (2019). Demographic characteristics of the board of directors’ structure and tax avoidance: Evidence from Tehran Stock Exchange. International Journal of Social Economics, 46(2), 199–212.
Huang, H. H. (2016). Customer concentration and corporate tax avoidance. Journal of Banking and Finance, 72, 184–200. https://doi.org/10.1016/j.jbankfin.2016.07.018
Hunardy, N., & Tarigan, J. (2017). Pengaruh kepemilikan pemerintah terhadap kinerja keuangan melalui dewan komisaris independen sebagai variabel intervening. Business Accounting Review, 5(2), 601–612.
Ibrahim, R., Sutrisno, T., & Rusydi, M. K. (2021). The influence factors of tax avoidance in Indonesia. International Journal of Research in Business and Social Science (2147-4478), 10(5), 1–10.
Kemsley, D., Kemsley, S. A., & Morgan, F. T. (2022). Tax evasion and money laundering: a complete framework. Journal of Financial Crime, 29(2), 589–602.
Khan, M. (2017). Institutional ownership and corporate tax avoidance: New evidence. Accounting Review, 92(2), 101–122. https://doi.org/10.2308/accr-51529
Khelil, I., & Khlif, H. (2023). Tax avoidance in family firms: a literature review. Journal of Financial Crime, 30(4), 1021–1035.
Khurana, I. K., & Moser, W. J. (2010). Institutional ownership and tax aggressiveness.
Kim, J. H., & Im, C. C. (2017). The study on the effect and determinants of small-and medium-sized entities conducting tax avoidance. Journal of Applied Business Research (JABR), 33(2), 375–390.
Kovermann, J. (2019). Tax avoidance in family firms: Evidence from large private firms. Journal of Contemporary Accounting and Economics, 15(2), 145–157. https://doi.org/10.1016/j.jcae.2019.04.003
Maharani, W., & Juliarto, A. (2019). Pengaruh kepemilikan keluarga terhadap tax avoidance dengan kualitas audit sebagai variabel moderating. Diponegoro Journal of Accounting, 8(4).
Masripah, M., Diyanty, V., & Fitriasari, D. (2017). Controlling shareholder and tax avoidance: family ownership and corporate governance. International Research Journal of Business Studies, 8(3).
Mindzak, J., & Zeng, T. (2019). Pyramid ownership structure and tax avoidance among Canadian firms. Accounting Research Journal, 33(1), 16–33.
Minnick, K., & Noga, T. (2010). Do corporate governance characteristics influence tax management? Journal of Corporate Finance, 16(5), 703–718.
Ngelo, A. A., Permatasari, Y., Harymawan, I., Anridho, N., & Kamarudin, K. A. (2022). Corporate tax avoidance and investment efficiency: evidence from the enforcement of tax amnesty in Indonesia. Economies, 10(10), 251.
Pratama, A. (2021). Tax Agressiveness in Family Firms: Can Corporate Governance Mitigate It? Journal of Accounting, Finance, Taxation, and Auditing (JAFTA), 3(1), 1–18.
Raditya, R., Dalimunthe, Z., & Rizkianto, E. (2020). The Influence of Family Firms on Corporate Tax Avoidance after the Indonesian Tax Amnesty Program. The Proceedings of 35th IBIMA Conference: Education Excellence and Innovation Management: A, 2025.
Ratnawati, V., Freddy, D., & Hardi, H. (2018). Ownership structure, tax avoidance and firm performance. Archives of Business Research, 6(1).
Richardson, G. (2015). The impact of financial distress on corporate tax avoidance spanning the global financial crisis: Evidence from Australia. Economic Modelling, 44, 44–53. https://doi.org/10.1016/j.econmod.2014.09.015
Richardson, G. (2016). Ownership structure and corporate tax avoidance: Evidence from publicly listed private firms in China. Journal of Contemporary Accounting and Economics, 12(2), 141–158. https://doi.org/10.1016/j.jcae.2016.06.003
Richardson, Grant, Taylor, G., & Lanis, R. (2013). The impact of board of director oversight characteristics on corporate tax aggressiveness: An empirical analysis. Journal of Accounting and Public Policy, 32(3), 68–88.
Sari, D. K., & Martani, D. (2010). Ownership characteristics, corporate governance, and tax aggressiveness. The 3rd International Accounting Conference & The 2nd Doctoral Colloquium. Bali.
Sekaran, U. (2006). Metodologi penelitian untuk bisnis. Jakarta: Salemba Empat, 159.
Setyawati, W. (2019). Pengaruh Struktur Kepemilikan, Struktur Modal, Profitabilitas Terhadap Nilai Perusahaan Dengan Kebijakan Dividen Sebagai Moderasi. Jurnal Akuntansi Berkelanjutan Indonesia, 2(2), 214.
Shleifer, A., & Vishny, R. W. (1986). Large shareholders and corporate control. Journal of Political Economy, 94(3, Part 1), 461–488.
Sholihin, M., & Anggraini, P. G. (2021). Analisis Data Penelitian Menggunakan Software STATA. Yogykarta: Penerbit Andi.
Slemrod, J., & Yitzhaki, S. (2002). Tax avoidance, evasion, and administration. In Handbook of public economics (Vol. 3, pp. 1423–1470). Elsevier.
Sujendra, I. M., Ratnadi, N. M. D., Sari, M. M. R., & Rasmini, N. K. (2019). The effect of corporate social responsibility disclosure, family ownership, and good corporate governance in tax avoidance. Research Journal of Finance and Accounting, 10(6), 44–49.
Tang, T. Y. H. (2020). A review of tax avoidance in China. China Journal of Accounting Research, 13(4), 327–338.
Titick Puji, A. (2019). The effect of family ownership on aggressive tax avoidance in Indonesia. EJTR, 17, 105.
Utama, S., & Ancella, A. (2020). Family ownership and tax avoidance: an analysis of foreign related party transactions and dividend payments. International Journal of Business and Society, 21(2), 643–659.
Wang, F. (2020). CORPORATE TAX AVOIDANCE: A LITERATURE REVIEW AND RESEARCH AGENDA. Journal of Economic Surveys, 34(4), 793–811. https://doi.org/10.1111/joes.12347
Yavaş, Ç. V., & Erdogan, S. (2016). The effect of foreign ownership on firm performance: Evidence from emerging market. Proceedings of New York International Business and Social Science Research Conference, 14, 16.
Yopie, S., & Elivia, E. (2022). The effect of corporate social responsibility, family ownership on tax avoidance: The effect of audit quality moderation. Indonesian Journal of Economics, Social, and Humanities, 4(1), 29–40.
Published
2024-01-30
How to Cite
Fuadi, F., Sawirti, R., Agustina, F., Mulyono, A., & Pratiwi, R. (2024, January 30). APAKAH STRUKTUR KEPEMILIKAN MEMPENGARUHI PENGHINDARAN PAJAK? BUKTI EMPIRIS DARI PASAR MODAL INDONESIA. Jurnal Akuntansi Dan Keuangan (JAK), 29(1), 69-82. https://doi.org/https://doi.org/10.23960/jak.v29i1.2053
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