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All Journal Journal of Accounting, Finance, Taxation, and Auditing (JAFTA)
Riki Martusa
Magister Akuntansi, Fakultas Hukum dan Bisnis Digital, Universitas Kristen Maranatha

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The Effect of Transfer Pricing Aggressiveness on Tax Avoidance with Intangible Asset Intensity as a Moderator Jaka Lirmaya; Meythi Meythi; Lily Pangarungan; Riki Martusa
Journal of Accounting, Finance, Taxation, and Auditing (JAFTA) Vol. 8 No. 2 (2026)
Publisher : Magister Akuntansi FB-UK.Maranatha

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.28932/jafta.v8i2.15663

Abstract

This study investigates the effect of transfer pricing aggressiveness on tax avoidance, where intangible asset intensity is considered as moderating variable, in companies engaged in plantation and food business, listed in Indonesia Stock Exchange (IDX) for year period of 2020 to 2024. The approach taken to this study is explanatory research method, involving secondary data obtained from audited annual consolidated financial statements. Data collection involved purposive sampling technique, which yielded 30 observations from six companies. CETR is used as proxy for tax avoidance; transfer pricing aggressiveness is proxied as ratio of related party transactions to total assets; intangible asset intensity is proxied as ratio of intangible assets to total assets; and firm size as control variable. The hypotheses testing was done through Moderated Regression Analysis (MRA). The results showed transfer pricing aggressiveness positively affects CETR, meaning more related-party transactions intensity leads to higher cash-basis tax payments and, moreover, to lesser tax avoidance. Intangible asset intensity does not significantly affect CETR and does not moderate the relationship between transfer pricing aggressiveness and tax avoidance. Finally, the firm size positively affects CETR. Therefore, it is confirmed that transaction-related parties and intangible asset ownerships are not necessarily used as tax avoidance techniques among Indonesian publicly held firms.The study contributes to transfer pricing and corporate taxation literature by emphasising importance of institutional context, regulatory oversight, and sector characteristics in interpreting correlation between transfer pricing and tax avoidance. Keywords: transfer pricing; tax avoidance; cash effective tax rate; intangible assets; moderated regression analysis.
ESG Credibility and Firm Profitability in An Emerging Market: Evidence from ESG Controversies and ESG Gap in Indonesia William Rudy Sugiharto; Indra Philemon; Riki Martusa; Meythi Meythi
Journal of Accounting, Finance, Taxation, and Auditing (JAFTA) Vol. 8 No. 2 (2026)
Publisher : Magister Akuntansi FB-UK.Maranatha

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.28932/jafta.v8i2.15724

Abstract

ESG is an important channel for a firm's relationship with its stakeholders. The firms are required to not only focus on profit, but they should also consider environmental, social, and governance. This study examines the relationship between Environmental, Social, and Governance (ESG) performance and firm profitability in an emerging market, with a particular emphasis on ESG credibility. Using a balanced panel dataset of 58 firms listed on the Indonesia Stock Exchange (IDX) over the period 2021–2024 (232 firm-year observations), this study employs ESG data from Refinitiv/LSEG and annual financial statements to measure profitability using Return on Assets (ROA). The empirical model is estimated using fixed-effects panel regression with firm-level clustered robust standard errors. The results indicate that the direct relationship between ESG performance and profitability is not supported in the Indonesian context. However, reputational risk plays a critical role: ESG controversies are significantly associated with profitability, and when operationalized as a high-controversy indicator (Controversy High), this variable exerts a negative effect on ROA. The key finding of this study demonstrates that the ESG Gap (ESG Score − ESGC) has a negative and highly significant impact on ROA, indicating the presence of a credibility penalty when the discrepancy between headline ESG performance and controversy-adjusted ESG scores widens. Robustness tests using an alternative profitability proxy (Net Margin) and alternative ESG measures confirm that the direct effect of ESG on profitability is relatively weak, whereas ESG credibility indicators are more informative. This study contributes to the literature by reinforcing the ESG credibility perspective and providing empirical evidence of reputational penalties and potential greenwashing in emerging markets.                                                Keywords: ESG credibility; ESG gap; ESG controversies; profitability (ROA); fixed effects panel regression
Co-Authors Indra Philemon Jaka Lirmaya Lily Pangarungan Meythi Meythi Meythi, Meythi William Rudy Sugiharto