Published: 2025-10-01

Tax Avoidance dan Stabilitas Keuangan: Apakah Leverage Memperkuat atau Memperlemah Hubungan?

DOI: 10.35870/jemsi.v11i5.4451

Asila Febiani, Ayu Umyana, Syarif M. Helmi
  • Asila Febiani: Universitas Tanjungpura
  • Ayu Umyana: Universitas Tanjungpura
  • Syarif M. Helmi: Universitas Tanjungpura
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Abstract

This study was conducted to examine the relationship between tax avoidance practices and financial stability, by placing leverage as a moderating variable in property and real estate entities listed on the Indonesia Stock Exchange during the 2021-2023 period. The study used a quantitative methodology and applied a purposive sampling technique in selecting samples, resulting in 93 observation units. Tax avoidance was quantified using the Cash Effective Tax Rate (CETR), financial stability represented by cash flow volatility, and leverage operationalized by the Debt to Equity Ratio (DER). The analysis technique applied was Moderated Regression Analysis (MRA) accompanied by classical assumption testing. After conducting the analysis, the results showed that tax avoidance had a negative effect on financial stability, while leverage could increase financial stability if managed properly. In addition, leverage was unable to moderate the interaction between tax avoidance and financial stability. The company's financial stability is a major concern given the high capital requirements and operating cost pressures.

Keywords

Financial Stability; Leverage; Tax Avoidance

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Febiani, A., Umyana, A., & Helmi, S. M. (2025). Tax Avoidance dan Stabilitas Keuangan: Apakah Leverage Memperkuat atau Memperlemah Hubungan?. JEMSI (Jurnal Ekonomi, Manajemen, Dan Akuntansi), 11(5), 3122-3133. https://doi.org/10.35870/jemsi.v11i5.4451
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This article has been peer-reviewed and published in the JEMSI (Jurnal Ekonomi, Manajemen, dan Akuntansi). The content is available under the terms of the Creative Commons Attribution 4.0 International License.

  • Issue: Vol. 11 No. 5 (2025)

  • Section: Articles

  • Published: 2025-10-01

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Author Biographies
Asila Febiani, Universitas Tanjungpura
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Program Studi Akuntansi, Universitas Tanjungpura, Pontianak, Indonesia.

Ayu Umyana, Universitas Tanjungpura
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Program Studi Akuntansi, Universitas Tanjungpura, Pontianak, Indonesia.

Syarif M. Helmi, Universitas Tanjungpura
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Program Studi Akuntansi, Universitas Tanjungpura, Pontianak, Indonesia.

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