PENGARUH BEBAN PAJAK TANGGUHAN, PERENCANAAN PAJAK, DAN KEPEMILIKAN INSTITUSIONAL TERHADAP KINERJA KEUANGAN PERUSAHAAN: STUDI EMPIRIS PADA PERUSAHAAN CONSUMER NON-CYCLICALS 2020-2024
Abstract
This study examines the effect of deferred tax expense, tax planning, and institutional ownership on the financial performance of Consumer Non-Cyclicals companies listed on the Indonesia Stock Exchange during 2020-2024. Financial performance is measured using Net Profit Margin (NPM), deferred tax expense is scaled by prior-year total assets, tax planning is proxied by the Effective Tax Rate (ETR), and institutional ownership is measured by the proportion of institutional shares to outstanding shares. The study applies a quantitative associative approach using secondary annual-report data and purposive sampling. After the removal of outlier companies, the final sample consists of 17 companies observed for five years, producing 85 firm-year observations. Panel-data regression is processed with EViews 13. Model-selection tests indicate that the Random Effect Model is appropriate. The results show that deferred tax expense, tax planning, and institutional ownership jointly affect financial performance. Partially, deferred tax expense and institutional ownership have no significant effect, while tax planning has a significant negative effect on financial performance. The adjusted R-squared is 0.113716, indicating that 11.37 percent of the variation in financial performance is explained by the three independent variables.
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