<![CDATA[Background: Tax avoidance is proxied by the Cash Effective Tax Rate (CETR), leverage by the Debt to Equity Ratio (DER), capital intensity by the Capital Intensity Ratio (CIR), financial health by the Altman Z-Score modified for non-manufacturing firms, interpreted as a gradation of health among financially sound firms, and firm size by the natural logarithm of total assets. Objective: This study analyzes the effect of leverage, capital intensity, and financial health on tax avoidance, and tests the moderating role of firm size. Methods: The population in this study comprises all healthcare-sector firms listed on the Indonesia Stock Exchange over 2020–2024. Using purposive sampling, 14 firms and 70 observations were obtained. Data were analyzed using multiple linear regression and Moderated Regression Analysis (MRA); robustness was tested using robust standard errors. Results: Results show that leverage and capital intensity have no direct effect on tax avoidance, whereas financial health has a significant positive effect. Firm size significantly moderates the effects of leverage and capital intensity, but not that of financial health. Marginal-effect analysis reveals a crossover pattern: among smaller firms both variables tend to encourage tax compliance, whereas among larger firms both tend to encourage tax avoidance. Conclusion: This study clarifies the boundary conditions of the Resource-Based View: the resource advantages of large firms operate on strategic decision variables but not on conditions exogenous to the firm.]]>
