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All Journal JIMAT (Jurnal Ilmiah Mahasiswa Akuntansi) Undiksha
Anggita Dwi Lestari
Program Studi Akuntansi Universitas Pamulang Tangerang Selatan, Indonesia
Humanities Social Sciences

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Firm Size Moderates the Effect of Tax Planning and Sales Growth on Firm Value Anggita Dwi Lestari; Suripto
JIMAT (Jurnal Ilmiah Mahasiswa Akuntansi) Undiksha Vol. 17 No. 03 (2026): Jurnal Ilmiah Mahasiswa Akuntansi ( IN Progress )
Publisher : Universitas Pendidikan Ganesha

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.23887/jimat.v17i03.118134

Abstract

This study aims to examine the effect of tax planning and sales growth on firm value, as well as to analyze the role of firm size as a moderating variable in that relationship. The research object consists of coal sub-sector companies listed on the Indonesia Stock Exchange (IDX) for the period 2020–2024. The sampling method used is purposive sampling, resulting in 18 companies with a total of 90 observations. The data analysis technique employs panel data regression with the Common Effect Model (CEM), Fixed Effect Model (FEM), and Random Effect Model (REM) approaches, along with Moderated Regression Analysis (MRA) to test the moderation effect. The dependent variable in this study is firm value proxied by Price to Book Value (PBV), the independent variables consist of tax planning proxied by the Effective Tax Rate (ETR) and sales growth, while firm size proxied by the natural logarithm of total assets serves as the moderating variable. The results indicate that: (1) tax planning has a significant negative effect on firm value; (2) sales growth has no effect on firm value; (3) firm size is unable to moderate the effect of tax planning on firm value; and (4) firm size is unable to moderate the effect of sales growth on firm value. The MRA results indicate that firm size falls into the category of homologizer moderator. This study is grounded in signaling theory and agency theory as the theoretical framework. Keywords: tax planning, sales growth, firm value, firm size, moderation.
Co-Authors Suripto