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The Influence of Financial and Non-Financial Factors on Firm Value with Tax Aggressiveness as a Moderating Variable

In: Proceedings of the International Conference on Entrepreneurship, Leadership and Business Innovation (ICELBI 2022)

Author

Listed:
  • Susi Dwi Mulyani

    (Universitas Trisakti, Department of Accounting, Faculty Economics and Business)

  • Giawan Nur Fitria

    (Universitas Trisakti, Department of Accounting, Faculty Economics and Business)

  • Amalia Puspita Wardhani

    (Universitas Trisakti, Department of Accounting, Faculty Economics and Business)

Abstract

The firm value reflects the welfare that can be enjoyed by its stakeholders, especially by its shareholders. Financial and non-financial factors influence firm value. This study examines the effect of the firm's financial and non-financial factors on firm value. In addition, it analyzes whether tax aggressiveness moderates the influence of financial and non-financial factors on firm value. The firm's liquidity and leverage represent financial factors, while independent commissioners, audit committees, and family ownership represent non-financial factors. The sampling technique uses purposive sampling from the population, namely the property and real estate sector industries listed on the Indonesia Stock Exchange. Hypothesis testing using the moderated regression analysis method using panel data. The results of hypothesis testing show that independent commissioners have a positive effect on firm value, and the audit committee also has a positive effect on firm value. Tax aggressiveness as a moderating variable weakened the influence of independent commissioners and audit committees on firm value. Furthermore, liquidity, leverage, and family ownership do not affect firm value. Likewise, tax aggressiveness does not moderate the effect of liquidity, leverage, and family ownership on firm value.

Suggested Citation

  • Susi Dwi Mulyani & Giawan Nur Fitria & Amalia Puspita Wardhani, 2023. "The Influence of Financial and Non-Financial Factors on Firm Value with Tax Aggressiveness as a Moderating Variable," Advances in Economics, Business and Management Research, in: Donard Games & Maruf (ed.), Proceedings of the International Conference on Entrepreneurship, Leadership and Business Innovation (ICELBI 2022), pages 597-605, Springer.
    • Handle: RePEc:spr:advbcp:978-94-6463-350-4_59
    DOI: 10.2991/978-94-6463-350-4_59
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