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All Journal The Contrarian: Finance, Accounting, and Business Research Manajemen Bisnis dan Keuangan Korporat
Raphajirsy Berthveight Akerina
Sam Ratulangi University
Decision Sciences, Operations Research & Management Economics, Econometrics & Finance Social Sciences

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Interelasi indeks pasar sektoral dalam kondisi tingkat bunga tertinggi Raphajirsy Berthveight Akerina; Syalwa Nabilla Eka Putri
Manajemen Bisnis dan Keuangan Korporat Vol. 1 No. 2 (2023)
Publisher : Yayasan Widyantara Nawasena Raharja

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.58784/mbkk.50

Abstract

Interest rate policy is an important factor for controlling the inflation rate as well as controlling economic growth. The objectives of this study are: first, to examine the relationship between interest rates and market indexes; second, the interrelationship of market indexes during interest rate issues. The sample of this study is 12 market indexes during the observed period 24 October 2022 to 28 April 2023. This study finds that several market indices experienced an increase and several market indices also experienced a decrease when interest rates were at their highest levels. Other important findings also show that changes in interest rates tend not to have a significant impact on market indices, especially during the observation period of this study. Throughout the observation period, consistently, this study finds that the non-primary consumer goods sector consistently did not correlate with the health sector, the financial sector consistently did not correlate with the health sector, and the health sector consistently did not correlate with the technology sector.
The effect of profitability and capital intensity on tax avoidance in consumer non-cyclicals sector companies listed on the Indonesia Stock Exchange during 2021–2024 Raphajirsy Berthveight Akerina; Lintje Kalangi; Anneke Wangkar
The Contrarian : Finance, Accounting, and Business Research Vol. 5 No. 2 (2026)
Publisher : Yayasan Widyantara Nawasena Raharja

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.58784/cfabr.494

Abstract

Tax avoidance is a company's effort to legally minimize its tax burden by exploiting loopholes in the prevailing tax regulations. Tax avoidance practices can be influenced by various internal factors, including profitability and capital intensity. Profitability reflects a company's ability to generate profit, while capital intensity indicates the extent of investment in fixed assets that may generate depreciation expenses as a deduction from taxable income. This study aims to analyze the effect of profitability and capital intensity on tax avoidance in consumer non-cyclicals sector companies listed on the Indonesia Stock Exchange (IDX) during 2021–2024. Tax avoidance is proxied by the Effective Tax Rate (ETR), profitability by Return on Assets (ROA), and capital intensity by the Capital Intensity Ratio (CIR). The study employs a quantitative causal-associative approach with multiple linear regression. Using purposive sampling, 39 firms were selected, yielding 156 firm-year observations. The results show that profitability has a significant effect on tax avoidance (t = -4.417; Sig. < 0.001), whereas capital intensity has no significant effect (t = 0.638; Sig. = 0.524). The Adjusted R² of 0.114 indicates that both variables jointly explain 11.4% of the variation in tax avoidance. These findings indicate that a company's profit level can influence its tendency toward tax avoidance, while the magnitude of fixed-asset investment does not directly influence tax avoidance among consumer non-cyclicals companies in Indonesia.
Co-Authors Anneke Wangkar Lintje Kalangi Syalwa Nabilla Eka Putri