Financial Constraints and Corporate Tax Avoidance: Evidence from Indonesian Non-Financial Firms During 2020–2023
DOI:
https://doi.org/10.55927/fjbes.v2i5.686Kata Kunci:
Financial Constraints, Tax Avoidance, Fixed Asset Intensity, Institutional Ownership, IndonesiaAbstrak
This study examines how financial constraints, fixed asset intensity, and institutional ownership relate to corporate tax avoidance among Indonesian non-financial firms. Using 356 firm-year observations from 89 companies listed on the Indonesia Stock Exchange during 2020–2023, the study applies panel-data regression. Financial constraints are measured with the Kaplan–Zingales Index, while tax avoidance is proxied by the gap between the 22% statutory corporate income tax rate and the cash effective tax rate. The Random Effects Model is selected through Chow, Hausman, and Breusch–Pagan LM tests. Financial constraints are significantly and negatively associated with tax avoidance, whereas fixed asset intensity and institutional ownership are insignificant. The findings indicate that financial pressure may limit firms’ capacity for sophisticated tax planning
Referensi
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Hak Cipta (c) 2026 Makhfira Zahwa Rohali, Mirna Indriani, Muhammad Saleh, John Andra Asmara
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