KINERJA ESG DAN PENGHINDARAN PAJAK PERUSAHAAN: APAKAH LEVERAGE KEUANGAN MEMBENTUK HUBUNGAN INI? BUKTI DARI SEKTOR PROPERTI INDONESIA

Maulidia Akhir; Suci Juniartika

doi:10.31539/3czyvq67

Authors

Maulidia Akhir Politeknik Negeri Pontianak
Suci Juniartika Politeknik Negeri Pontianak

DOI:

https://doi.org/10.31539/3czyvq67

Keywords:

Kinerja ESG, Penghindaran Pajak, Leverage Keuangan, Moderated Regression Analysis, Sektor Properti Indonesia.

Abstract

Penelitian ini mengkaji pengaruh kinerja ESG (Environmental, Social, and Governance) terhadap penghindaran pajak perusahaan sektor properti Indonesia yang terdaftar di Bursa Efek Indonesia periode 2022-2024, serta menginvestigasi apakah leverage keuangan memoderasi hubungan tersebut. Berlandaskan stakeholder theory, legitimacy theory, dan agency theory, penelitian ini menggunakan regresi data panel dengan Random Effect Model (REM) yang dipilih melalui uji Chow, Hausman, dan Lagrange Multiplier. Penghindaran pajak diproksikan dengan Effective Tax Rate (ETR), kinerja ESG diukur dengan skor ESG, leverage keuangan diukur dengan Debt-to-Asset Ratio, dan ukuran perusahaan dimasukkan sebagai variabel kontrol. Hasil regresi data panel dasar menunjukkan bahwa kinerja ESG tidak berpengaruh signifikan terhadap ETR, sedangkan leverage berpengaruh positif signifikan. Hasil Moderated Regression Analysis (MRA) menunjukkan bahwa kinerja ESG berpengaruh positif signifikan terhadap ETR ketika dimoderasi oleh leverage, dan leverage secara signifikan memoderasi hubungan ESG-ETR melalui dua variabel interaksi. Peran moderasi leverage keuangan atas hubungan ESG-penghindaran pajak terkonfirmasi, memberikan bukti empiris pada persimpangan keberlanjutan dan perilaku fiskal perusahaan di sektor properti Indonesia.

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