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Abstract
This study aims to examine and analyze the influence of Return on Assets, Debt to Equity Ratio, Price to Book Value, and Company Size on Tax Avoidance. The data used in this study are secondary, sourced from company fact sheets from the Indonesia Stock Exchange (IDX) and company financial reports. The population in this study uses companies included in the LQ45 index during the 2020-2024 period. The research sample used was obtained through purposive sampling. The data analysis technique used was panel data regression in EViews 12. The study's results indicate that Return on Assets, Debt to Equity Ratio, Price to Book Value, and Company Size do not significantly affect Tax Avoidance.
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References
- Aini, H., & Kartika, A. (2022). The Effect of Profitability, Leverage, Independent Commissioners, Firm Size, and Capital Intensity on Tax Avoidance. 15.
- Ali, S., Nuraisyiah, & Sangkala, M. (2023). The Effect of Firm Value and Firm Size on Tax Avoidance in Property Companies Listed on the Indonesia Stock Exchange 2016–2020. 3(4), 55–61.
- Apriliyani, L., & Kartika, A. (2021). The Effect of Profitability, Leverage, Firm Size, and Sales Growth on Tax Avoidance in Manufacturing Sector Companies Listed on the Indonesia Stock Exchange 2015–2019. Jurnal Manajemen, 15(2), 180–191.
- Cahya Perdana, B. (2023). Analysis of Tax Avoidance and Profitability on Firm Value through Good Corporate Governance in Manufacturing Companies Listed on the Indonesia Stock Exchange. Jurnal Kewarganegaraan, 7(2).
- Danardhito, A., Widjanarko, H., & Kristanto, H. (2023). Determinants of Tax Avoidance: Liquidity, Leverage, Activity, Profitability, Growth, and Firm Value. Jurnal Pajak Indonesia (JPI), 7(1).
- Fajrin, S. N., & Putra, R. (2025). The Effect of Firm Performance on Tax Avoidance with Firm Size as a Moderating Variable. 4.
- Hidajat, F. Z. M., Durya, N. P. M. A., & Suhartono, E. (2025). The Effect of Profitability, Leverage, and Firm Size on Tax Avoidance. 11(4), 2095–2107.
- Jensen, M. C., & Meckling, W. H. (1976). Theory of the Firm: Managerial Behavior, Agency Costs and Ownership Structure. In Journal of Financial Economics (Issue 4). Harvard University Press. http://hupress.harvard.edu/catalog/JENTHF.html
- Lusiana, R., & Avriyanti, S. (2023). The Effect of Liquidity on Profitability in Manufacturing Companies Indexed in LQ45 on the Indonesia Stock Exchange
- Nugroho, M. B., Kusumawati, Y. T., & Jamal, S. W. (2023). The Effect of Return on Assets (ROA) and Debt to Equity Ratio (DER) on Tax Avoidance in Coal Mining Companies Listed on the Indonesia Stock Exchange.
- Nur, S., Suciyanti, V. N., Winarti, A., & Azmi, Z. (2024). The Application of Signaling Theory in Accounting: A Literature Review. Economics, Business and Management Science Journal, 4(2), 55–65. https://doi.org/10.34007/ebmsj.v4i2.564
- Pangaribuan, H., Fernando Hb, J., Agoes, S., Sihombing, J., & Sunarsi, D. (2021). The Financial Perspective Study on Tax Avoidance. https://doi.org/10.33258/birci.v4i3.2287
- Pattiasina, V., Tammubua, M. H., Numberi, A., Patiran, A., & Temalagi, S. (2019). Capital Intensity and Tax Avoidance : A Case in Indonesia. International Journal of Social Sciences and Humanities, 3(1), 58–71. https://doi.org/10.29332/ijssh.v3n1.250
- Pratama, A., & Mukhhtaruddin. (2025). Analysis of Profitability, Leverage, and Firm Size on Tax Avoidance. In Journal Scientific of Mandalika (jsm) e-ISSN (Vol. 6, Issue 7).
- Rafif, A. I., & Hariyanti, D. (2025). The Effect of Profitability, Asset Intensity, Firm Size, and Leverage on Tax Avoidance in the Consumer Industry Sector. 22(8).
- Reswita, Y., Yoda, T. C., Darman, Syaiful, & Dewita, M. P. (2023). The Effect of Profitability and Solvency on LQ45 Stock Prices Listed on the Indonesia Stock Exchange. www.idx.com
- Simanungkalit, G. E. A. D., Budiarso, N. S., & Korompis, C. (2023). The Effect of Leverage, Liquidity, and Profitability on Tax Aggressiveness (Study on Consumer Goods Industry Companies Listed on the Indonesia Stock Exchange 2019–2022). Riset Akuntansi Dan Portofolio Investasi, 1(2), 64–76. https://doi.org/10.58784/rapi.55
- Spence, M. (1973). Job Market Signaling. In Source: The Quarterly Journal of Economics (Vol. 87, Issue 3).
- Sudibyo, H. H. (2022). The Effect of Profitability, Leverage, and Sales Growth on Tax Avoidance.
References
Aini, H., & Kartika, A. (2022). The Effect of Profitability, Leverage, Independent Commissioners, Firm Size, and Capital Intensity on Tax Avoidance. 15.
Ali, S., Nuraisyiah, & Sangkala, M. (2023). The Effect of Firm Value and Firm Size on Tax Avoidance in Property Companies Listed on the Indonesia Stock Exchange 2016–2020. 3(4), 55–61.
Apriliyani, L., & Kartika, A. (2021). The Effect of Profitability, Leverage, Firm Size, and Sales Growth on Tax Avoidance in Manufacturing Sector Companies Listed on the Indonesia Stock Exchange 2015–2019. Jurnal Manajemen, 15(2), 180–191.
Cahya Perdana, B. (2023). Analysis of Tax Avoidance and Profitability on Firm Value through Good Corporate Governance in Manufacturing Companies Listed on the Indonesia Stock Exchange. Jurnal Kewarganegaraan, 7(2).
Danardhito, A., Widjanarko, H., & Kristanto, H. (2023). Determinants of Tax Avoidance: Liquidity, Leverage, Activity, Profitability, Growth, and Firm Value. Jurnal Pajak Indonesia (JPI), 7(1).
Fajrin, S. N., & Putra, R. (2025). The Effect of Firm Performance on Tax Avoidance with Firm Size as a Moderating Variable. 4.
Hidajat, F. Z. M., Durya, N. P. M. A., & Suhartono, E. (2025). The Effect of Profitability, Leverage, and Firm Size on Tax Avoidance. 11(4), 2095–2107.
Jensen, M. C., & Meckling, W. H. (1976). Theory of the Firm: Managerial Behavior, Agency Costs and Ownership Structure. In Journal of Financial Economics (Issue 4). Harvard University Press. http://hupress.harvard.edu/catalog/JENTHF.html
Lusiana, R., & Avriyanti, S. (2023). The Effect of Liquidity on Profitability in Manufacturing Companies Indexed in LQ45 on the Indonesia Stock Exchange
Nugroho, M. B., Kusumawati, Y. T., & Jamal, S. W. (2023). The Effect of Return on Assets (ROA) and Debt to Equity Ratio (DER) on Tax Avoidance in Coal Mining Companies Listed on the Indonesia Stock Exchange.
Nur, S., Suciyanti, V. N., Winarti, A., & Azmi, Z. (2024). The Application of Signaling Theory in Accounting: A Literature Review. Economics, Business and Management Science Journal, 4(2), 55–65. https://doi.org/10.34007/ebmsj.v4i2.564
Pangaribuan, H., Fernando Hb, J., Agoes, S., Sihombing, J., & Sunarsi, D. (2021). The Financial Perspective Study on Tax Avoidance. https://doi.org/10.33258/birci.v4i3.2287
Pattiasina, V., Tammubua, M. H., Numberi, A., Patiran, A., & Temalagi, S. (2019). Capital Intensity and Tax Avoidance : A Case in Indonesia. International Journal of Social Sciences and Humanities, 3(1), 58–71. https://doi.org/10.29332/ijssh.v3n1.250
Pratama, A., & Mukhhtaruddin. (2025). Analysis of Profitability, Leverage, and Firm Size on Tax Avoidance. In Journal Scientific of Mandalika (jsm) e-ISSN (Vol. 6, Issue 7).
Rafif, A. I., & Hariyanti, D. (2025). The Effect of Profitability, Asset Intensity, Firm Size, and Leverage on Tax Avoidance in the Consumer Industry Sector. 22(8).
Reswita, Y., Yoda, T. C., Darman, Syaiful, & Dewita, M. P. (2023). The Effect of Profitability and Solvency on LQ45 Stock Prices Listed on the Indonesia Stock Exchange. www.idx.com
Simanungkalit, G. E. A. D., Budiarso, N. S., & Korompis, C. (2023). The Effect of Leverage, Liquidity, and Profitability on Tax Aggressiveness (Study on Consumer Goods Industry Companies Listed on the Indonesia Stock Exchange 2019–2022). Riset Akuntansi Dan Portofolio Investasi, 1(2), 64–76. https://doi.org/10.58784/rapi.55
Spence, M. (1973). Job Market Signaling. In Source: The Quarterly Journal of Economics (Vol. 87, Issue 3).
Sudibyo, H. H. (2022). The Effect of Profitability, Leverage, and Sales Growth on Tax Avoidance.