Pengaruh Tax Planning, Kebijakan Hutang dan Ukuran Perusahaan terhadap Nilai Perusahaan pada Sektor Basic Materials yang Terdaftar di Bursa Efek Indonesia (BEI) Tahun 2021-2024 The Effect of Tax Planning, Debt Policy, and Company Size on Firm Value in the Basic Materials Sector Listed on the Indonesia Stock Exchange (BEI) in 2021-2024
Article Sidebar
Page Numbers:
4474-4491
Digital Object Identifier:
10.58578/arzusin.v6i5.11026
Viewed: 0 times
Downloaded: 0 times
LYAS Publisher cordially invites qualified professionals to serve as Editors or Reviewers. Your expertise will make an important contribution to maintaining and strengthening the academic quality of our publications. Interested applicants are kindly requested to complete the application form at the following link: Editors & Reviewers
Please feel free to contact us if you need any further information about the submission process or if you have any additional questions.
Authors:
Selvia Selvia1*, Sandra Dewi2 
Copyright :
Authors retain copyright and grant the journal right of first publication.
Main Article Content
Abstract
Firm value is an important indicator that reflects investors’ perceptions of a company’s performance and prospects. Although the relationship between tax planning, debt policy, firm size, and firm value has been widely examined, studies that specifically analyze these three variables in Basic Materials sector companies listed on the Indonesia Stock Exchange for the 2021–2024 period remain limited. This study aims to analyze the effect of tax planning, debt policy, and firm size on firm value. This study used a quantitative approach with a causal associative design. The sample consisted of 18 companies selected using purposive sampling, resulting in 61 observations after outlier elimination. Data were collected through documentation of companies’ annual financial reports and analyzed using multiple linear regression with the assistance of IBM SPSS Statistics 26. The results show that tax planning and firm size have a positive and significant effect on firm value, whereas debt policy has no significant effect. Simultaneously, tax planning, debt policy, and firm size have a significant effect on firm value. These findings contribute to the development of Signaling Theory in explaining the formation of firm value through financial information perceived by investors as market signals. The conclusion of this study emphasizes the importance of the effectiveness of tax planning and firm size in increasing firm value. The implications of this study include theoretical contributions to the development of financial management literature as well as practical implications for company management in formulating strategies to increase firm value.
Keywords: Tax Planning; Debt Policy; Firm Size; Firm Value; Basic Materials Sector
Downloads
Article Details
Authors retain copyright and grant the journal right of first publication with the work simultaneously licensed under a Creative Commons Attribution-NonCommercial-ShareAlike 4.0 International License that allows others to share the work with an acknowledgement of the work's authorship and initial publication in this journal.
References
Anisran, A., & Ma’wa, M. (2023). Kebijakan Hutang dan Nilai Perusahaan. Jurnal Akuntansi dan Keuangan, 15(2), 45–58.
Apika, A., & Prasetyo, B. (2024). Pengaruh Ukuran Perusahaan terhadap Nilai Perusahaan pada Perusahaan Sektor Industri. Jurnal Riset Akuntansi Indonesia, 18(1), 12–25.
Astuti, R., Putra, D., & Sari, N. (2021). Analisis Faktor-Faktor yang Memengaruhi Nilai Perusahaan. Jurnal Manajemen dan Bisnis, 11(2), 89–101.
Brigham, E. F., & Houston, J. F. (2022). Fundamentals of financial management (16th ed.). Cengage Learning. https://www.cengage.com/c/fundamentals-of-financial-management-16e-brigham-houston/9780357517574/
Creswell, J. W., & Creswell, J. D. (2023). Research design: Qualitative, quantitative, and mixed methods approaches (6th ed.). SAGE Publications. https://collegepublishing.sagepub.com/products/research-design-6-270550
Field, A. (2024). Discovering statistics using IBM SPSS statistics (6th ed.). SAGE Publications. https://collegepublishing.sagepub.com/products/discovering-statistics-using-ibm-spss-statistics-6-285130
Fraenkel, J. R., Wallen, N. E., & Hyun, H. H. (2022). How to design and evaluate research in education (11th ed.). McGraw Hill. https://www.mheducation.ca/product/how-to-design-and-evaluate-research-in-education-ise-9781265184810-can-group
Gujarati, D. N., Porter, D. C., & Gunasekar, S. (2021). Basic econometrics (6th ed.). McGraw Hill.
Hair, J. F., Black, W. C., Babin, B. J., & Anderson, R. E. (2022). Multivariate data analysis (9th ed.). Cengage Learning.
Johnson, R. A., Miller, I., & Freund, J. E. (2021). Probability and statistics for engineers (10th ed.). Pearson.
Maharani, D., Sari, F., & Putri, N. (2025). Pengaruh Tax Planning terhadap Nilai Perusahaan pada Sektor Manufaktur. Jurnal Akuntansi Kontemporer, 19(1), 34–49.
Muchtar, M. (2021). Pengaruh Tax Planning terhadap Nilai Perusahaan pada Perusahaan yang Terdaftar di Bursa Efek Indonesia. Jurnal Akuntansi dan Perpajakan, 13(2), 101–115.
Nugroho, A. (2025). Kebijakan Hutang dan Implikasinya terhadap Nilai Perusahaan. Jurnal Keuangan dan Perbankan, 29(1), 55–70.
Nuraini, S. (2024). Ukuran Perusahaan dan Pengaruhnya terhadap Nilai Perusahaan. Jurnal Ekonomi dan Bisnis Indonesia, 16(3), 201–214.
Putri, R., & Sholichah, N. (2023). Pengaruh Kebijakan Hutang terhadap Nilai Perusahaan pada Sektor Industri Dasar. Jurnal Akuntansi Multiparadigma, 14(1), 78–92.
R., A. (2024). Tax Planning dan Nilai Perusahaan pada Perusahaan Publik Indonesia. Jurnal Riset Akuntansi dan Keuangan, 12(2), 66–81.
Ridwan, M., & Muid, D. (2025). Pengaruh Tax Planning, Kebijakan Hutang, dan Ukuran Perusahaan terhadap Nilai Perusahaan. Diponegoro Journal of Accounting, 14(1), 1–15.
Ross, S. A., Westerfield, R. W., & Jordan, B. D. (2022). Fundamentals of corporate finance (14th ed.). McGraw Hill.
Sekaran, U., & Bougie, R. (2020). Research methods for business: A skill-building approach (8th ed.). Wiley. https://www.wiley.com/en-us/Research%2BMethods%2BFor%2BBusiness%3A%2BA%2BSkill%2BBuilding%2BApproach%2C%2B8th%2BEdition-p-9781119561248
Siregar, T., & Dewi, R. (2022). Analisis Pengaruh Ukuran Perusahaan terhadap Nilai Perusahaan. Jurnal Manajemen Indonesia, 22(1), 33–47.
Sugiyono. (2023). Metode penelitian kuantitatif, kualitatif, dan R&D. Alfabeta.
Suryani, E. (2024). Nilai Perusahaan dan Faktor-Faktor yang Memengaruhinya pada Perusahaan Sektor Basic Materials. Jurnal Ekonomi Modern, 10(2), 145–158.
Susanto, A., & Suryani, E. (2024). Pengaruh Kebijakan Hutang terhadap Nilai Perusahaan pada Perusahaan Manufaktur Indonesia. Jurnal Keuangan dan Akuntansi, 21(3), 88–102.
Wooldridge, J. M. (2025). Introductory econometrics: A modern approach (8th ed.). Cengage Learning. https://www.cengage.com/c/introductory-econometrics-a-modern-approach-8e-wooldridge/9780357900161/