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Tax avoidance, capital structure, and firm value: The moderating role of profitability in LQ45 companies post-pandemic Purnamasari, Atika; Sari, Petty Aprilia; Husin, Husin; Goenawan, Yohanes August
Jurnal Akuntansi dan Auditing Indonesia Vol. 30 No. 1 (2026)
Publisher : Accounting Department, Faculty of Business and Economics, Universitas Islam Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.20885/jaai.vol30.iss1.art16

Abstract

This study analyzes the effect of tax avoidance and capital structure on firm value with profitability as a moderating variable in 19 LQ45 companies during 2020-2024. It aims to address the post-pandemic literature gap by examining the moderating role of profitability. This quantitative research employs purposive sampling and panel data regression using the Random Effect Model (REM). The analysis includes heteroscedasticity, multicollinearity, t-test, Moderated Regression Analysis (MRA), and coefficient of determination (R²). The results indicate that tax avoidance positively affects firm value, while capital structure has a negative effect. Profitability does not moderate the relationship between tax avoidance and firm value, but it weakens the effect of capital structure on firm value. These findings suggest that investors respond more to tax efficiency and profitability performance, whereas high leverage is perceived as increasing risk and reducing firm value. Therefore, maintaining an optimal capital structure is essential to enhance firm value.
Co-Authors AA Sudharmawan, AA Adawiyah, Robi'Atul Adya Hermawati Afri Irawan, Afri Agung Prayogo Agustina, Mardhiya Ahwy Oktradiksa Aksa, Putriana Al Rosyid, Muhammad Kahfi al-Amruzi, H.M. Fahmi Ali, Shujahat Alidin, La Ode Asfahyadin Amalia, Fauziah Husna Andika Sasmita Putra, Muhamad Andini, Sarah Andriani, Indri Anisa Anisa Ansar Anshari, M. Anto, La Ode Ardianto, Efri Tri Arsad, Arsad Asmawati Asmawati Asrulla, Asrulla Assya’bani, Ridhatullah Ayumilawarty, Ayumilawarty Azizah, Nita Badarusyamsi, Badarusyamsi Bangsawan, Indra Bangun, Cicilia Sriliasta Bar, Abdul Bin Abdul Aziz, Abdul Rashid Budi Rahmat Hakim Bulan, Nofian Lepong Choirul Huda Dali, Nasrullah Darmawati, Tuti Dharmayanti, Ummi Haniefa Dian Permana Dinata , Gallyndra Fatkhu Djajanto, Ludfi Dwi Sogi Sri Redjeki Ekawati, Dianita Ekawati Elwidah, Minah Emiliasari, Dian Fachry Abda El Rahman Fadhel, Muhammad Fadhlilah, Fadhlilah Fadlan, Achmad Fadlian Nur Fadlilah Fadlilah Fadlilah Fajarini, Annisa Fajeri, Samsul Falah, Nazwa Rakhma Febryawan, Aldy Gumelar, Indra Surya Hamdie, Zuraida Murdia Hanalir, Hanalir Hanifa, Lia Harianto, A Dodi Harokan, Ali Hasanah, Normawati Hassan, Hafizah Che Huda Huda Ihsan, M. Ali Al Ilimu, Edi Ishak Awaluddin Jamrizal, Jamrizal Jumrian, Jumrian Khairuddin - Khalidazia, Khaila La Ode Bahana Adam Lestari, Kurnia Cahya Liana, Yunita Lukman Hakim Maisah Maisah Manat Rahim Mariani, Mariani Ani Marjan, Marjan Martaleni - Mas'ud, Arifuddin Mas’ud, Arifuddin maya weka santi, maya weka Miroesa, Nitri Mowafg Abrahem Masuwd Muhammad Zaini Muhlasin, Muhlasin Mulyati Akib, Mulyati Muntaha, Amar Murbiah, Murbiah Mursid Mursid Musnajam, Musnajam Mustafa, Santiadji Nafi, Muhammad Nayirah, Nayirah Nazari Nazari Ningsih, Eka Rahma Nitri Mirosea Norsyipa, Norsyipa Noufhal, Noufhal Nur Asni Nurdin, Emillia Nurhayati Damiri Nurmalia, Nurmalia Nursamsir Nurwati Nurwati Oktavia, Tati OKTAVIANI, ERLINA Olis, Olis Oxyandi, Miming Oxyandi Panduragan, Santhna Letchmi Pardi, Kasmahwati Perdani, Rizki Persadha, Galih Prasetyo, Muhammad Agi Pribadi, Anjar Priyatmo, Yudi Purbaningsih, Yuli Purnamasari, Atika Putri, Arvina Rafika Rachmawati, Ervina Raden Surahmat Rahmah, Hardiyanti Rahman, Sandy Aulia Ramlawati Ramlawati Rawalilah, Hamyatri Ridwan, Ridwan Ridzal, Nining Asniar Rif’ah, Rif’ah Riskiawan , Hendra Yufit Risnawati Risnawati Romadi, Pipir Rosnawintang, Rosnawintang Sabdan, Sitti Rahmatiah Sabri Balafif Safaa, Violla Safri, Hayanuddin Saleh, Sri Wahyuni Salsabila, Gusti Naura Santoso, R. Tri Priyono Budi Sari, Petty Aprilia Sarita, Kiki Fatimah Septiano, Fadlan Sidik, Abu Bakar Sinarwaty Sunarjo Siswahyudianto Siti Khadijah Solehah, Solehah Sudur, Sudur Suhara, Toni Sukran, Muh. Sunartin, sunartin Sunday Ade Sitorus SUPLI EFFENDI RAHIM Supli, Ahmad Affandi Suraya, Citra Susanto, Hawa Hafifah Putri Susriyanti, Susriyanti Su’adi, Su’adi Syahrul Syahrul Syamsul Bahri Sylvia Fettry E.M Tumiran Umbara, Bayu Unde, Hajariah Ushansyah, Ushansyah Usman Usman Utami, Sapriya wawo, andi basru Wawo, Andi Basru Wirdasari, Atika Wisuda, Aris Citra Yahyanto Yahyanto Yohanes August Goenawan, Yohanes August Yulestri, Yulestri Yuliana Salman Yumesri, Yumesri Yunita, Nirma Yusria Zaman, Chairil