<![CDATA[This study aims to analyze the effect of Leverage and Penghindaran Pajak on earnings response coefficient (ERC) in primary consumer sector manufacturing companies listed on the Indonesia Stock Exchange (IDX) for the period 2022–2024. The sample consists of primary consumer manufacturing companies listed on IDX during the observation period. Samples were selected using purposive sampling method. A total of 57 valid company data (171 observations) were used. Data were processed using Eviews 13 software. Panel data regression analysis with Common Effect Model (CEM). The results show that Leverageand Tax Avoidance do not have a significant effect on ERC, either partially or simultaneously. The implication of this study suggests that investors should consider additional variables beyond Leverage and Tax Avoindance when evaluating earnings quality, as these factors alone are insufficient predictors of market response to earnings announcements.]]>
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