Relevansi Nilai Pajak Tangguhan dan Effective Tax Rate terhadap Nilai Perusahaan Studi pada Perusahaan LQ45 di Bursa Efek Indonesia Periode 2022–2024
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Abstract
Penelitian ini bertujuan untuk menganalisis pengaruh Deferred Tax Assets, Deferred Tax Liabilities, dan Effective Tax Rate terhadap nilai perusahaan pada emiten yang tergabung dalam indeks LQ45 di Bursa Efek Indonesia selama periode penelitian. Kajian ini menggunakan perspektif teori sinyal yang memandang informasi keuangan perusahaan sebagai sinyal penting bagi investor dalam menilai prospek dan nilai perusahaan. Penelitian menggunakan pendekatan kuantitatif dengan analisis regresi data panel. Sampel ditentukan melalui teknik purposive sampling berdasarkan kriteria konsistensi keanggotaan dalam indeks LQ45 serta ketersediaan laporan keuangan selama periode pengamatan. Hasil penelitian menunjukkan bahwa Deferred Tax Liabilities berpengaruh negatif dan signifikan terhadap nilai perusahaan. Temuan ini mengindikasikan bahwa peningkatan kewajiban pajak tangguhan dapat dipersepsikan sebagai sinyal yang kurang menguntungkan oleh investor karena mencerminkan adanya kewajiban pajak yang harus dipenuhi pada periode mendatang. Sementara itu, Deferred Tax Assets dan Effective Tax Rate tidak menunjukkan pengaruh yang signifikan terhadap nilai perusahaan, yang mengindikasikan bahwa informasi mengenai aset pajak tangguhan dan tingkat pajak efektif belum menjadi faktor utama dalam penilaian investor terhadap perusahaan. Temuan penelitian menegaskan bahwa pengelolaan kewajiban pajak tangguhan perlu memperoleh perhatian strategis karena dapat memengaruhi persepsi pasar dan nilai perusahaan.
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