Aug 2026· Jurnal Rimba Riset Ilmu manajemen Bisnis dan Akuntansi· Vol 4, pp. 26-38· 0 citations
Abstract
This study aims to examine and analyze the influence of tax planning, capital structure, and profitability on firm value in the food and beverage subsector listed on the Indonesia Stock Exchange (IDX) for the 2021–2025 period. The food and beverage industry represents a key manufacturing pillar required to continuously optimize operational efficiency and financial decisions to maximize shareholder value. This study adopts a quantitative approach using secondary data extracted from companies' annual financial reports. A purposive sampling technique was used to select a representative sample over the five-year observation period. The analytical method employed is panel data regression analysis. The results indicate that tax planning, proxied by the effective tax rate, has a negative but insignificant effect on firm value. Capital structure, proxied by the debt-to-equity ratio (DER), has a significant positive effect on firm value, suggesting that leveraging within a reasonable threshold delivers a positive signal to the market regarding corporate expansion capacity. Meanwhile, profitability, proxied by the return on assets (ROA), has a strong significant positive effect on firm value, demonstrating that profitability is the primary fundamental driver valued by investors assessing the prospects of food and beverage firms.
Taxes remain a primary source of state revenue, yet makanan dan minuman companies often manage tax burdens through internal financial policies, which may be reflected in the Effective Tax Rate (ETR). Prior studies on the determinants of ETR remain inconsistent and have rarely examined Capital Structure (Debt to Equity...
Firm value represents the market’s assessment of a company’s fundamental quality, profit-generating capacity, and long-term economic prospects. This study aims to examine the role of internal characteristics and financial decisions in determining firm value among food and beverage companies listed on the Indonesia Stoc...
Tax is one of the main sources of state revenue that plays an important role in supporting national development financing. However, for companies, taxes are considered a cost component that can reduce net income, encouraging management to implement tax efficiency strategies through tax aggressiveness practices. This ph...
Friski· Jurnal Ekonomi Manajemen dan...· 0 citations
This study aims to examine the effect of capital structure and Good Corporate Governance (GCG) on firm value in the financials sector listed on the Indonesia Stock Exchange for the 2020-2024 period. Firm value is measured using the Price to Book Value (PBV) ratio, capital structure is proxied by the Debt to Equity Rati...
This study aims to analyze the contributions of profitability, liquidity, and sales growth to firm value, with firm size acting as a moderating variable, focusing on food and beverage sub-sector companies listed on the Indonesia Stock Exchange during the 2020–2024 period. Firm value is proxied by Price-to-Book Value (P...
Cinta Nur Munawwarotul Barokah, D. Nur· Jurnal Ekonomi Manajemen dan...· 0 citations
Purpose: This study aims to examine the effect of debt policy, dividend policy, investment decisions, and profitability on the firm value of manufacturing companies listed on the Indonesia Stock Exchange during the 2016–2020 period.
Methodology/approach: This research employed a quantitative approach using secondary d...
