Article Per Year (5 Year)
p-Index From 2021 - 2026
0.23
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This Author published in this journals
All Journal International Journal of Business, Economics, and Social Development
Shandra Khaerunissa
Faculty of Economics and Business, Universitas Swadaya Gunung Jati, Cirebon, Indonesia
Humanities Economics, Econometrics & Finance Education Languange, Linguistic, Communication & Media Social Sciences

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The Effect of Capital Intensity, Inventory Intensity, and Leverage on Tax Effectiveness with Company Size as a Moderator Shandra Khaerunissa; Rina Destiana
International Journal of Business, Economics, and Social Development Vol. 7 No. 3 (2026): International Journal of Business, Economics, and Social Development (IJBESD)
Publisher : Rescollacom (Research Collaborations Community)

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.46336/ijbesd.v7i3.1224

Abstract

Tax effectiveness represents an important aspect of corporate financial management and fiscal compliance. Variations in effective tax payments are often associated with differences in company asset structures and financing policies. This study aims to examine the influence of capital intensity, inventory intensity, and leverage on tax effectiveness, with firm size acting as a moderating variable. The research focuses on manufacturing companies in the raw materials subsector listed on the Indonesia Stock Exchange during the 2021–2024 period. The study employs a quantitative approach using panel data regression analysis. Tax effectiveness is proxied by the Cash Effective Tax Rate (Cash ETR), which reflects actual cash-based tax payments. Capital intensity, inventory intensity, and leverage are utilized as explanatory variables, while firm size is incorporated as a moderating variable. The estimation model is conducted using Panel EGLS (Cross-section Weights) to address heteroskedasticity across firms. The empirical findings indicate that capital intensity, inventory intensity, and leverage have negative and statistically significant effects on Cash ETR. These results suggest that higher proportions of fixed assets, inventory, and debt usage are associated with lower cash-based tax payments. Furthermore, firm size is found to moderate the relationships between inventory intensity and leverage on tax effectiveness, while no significant moderating effect is observed in the relationship between capital intensity and tax effectiveness. Overall, this study highlights the importance of corporate financial characteristics in shaping tax effectiveness. The findings contribute to the understanding of tax management behavior, particularly within asset-intensive manufacturing sectors in emerging markets.
Co-Authors Rina Destiana