Analisis Pengaruh Penghindaran Pajak Terhadap Nilai Perusahaan dengan Transparansi Sebagai Variabel Moderating pada Perusahaan Manufaktur yang Terdaftar di BEI
DAFTAR LAMPIRAN
Lampiran 1
Daftar Perusahaan Yang Memenuhi Kriteria
No
Kode
Nama Perusahaan
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35.
ADES
ADMG
AISA
AKKU
AKPI
ALDO
ALKA
ALMI
ALTO
AMFG
AMIN
APLI
ARGO
ARNA
ASII
AUTO
BAJA
BATA
BIMA
BOLT
BRAM
BRNA
BRPT
BTON
BUDI
CEKA
CINT
CNTX
CPIN
CTBN
DAJK
DAVO
DLTA
DPNS
DVLA
Akasha Wira International Tbk
Polychem Indonesia Tbk
Tiga Pilar Sejahtera Food Tbk
Alam Karya Unggul Tbk
Argha Karya Prima Industry Tbk
Alkindo Naratama Tbk
Alaska Industrindo Tbk
Alumindo Light Metal Industry Tbk
Tri Banyan Tirta Tbk
Asahimas Flat Glass Tbk
Ateliers Mecaniques D’Indonesia
Asiaplast Industries Tbk
Argo Pantes Tbk
Arwana Citra Mulia Tbk
Astra International Tbk
Astra Auto Part Tbk
Saranacentral Bajatama Tbk
Sepatu Bata Tbk
Primarindo Asia Infrastruture Tbk
Garuda Metalindo Tbk
Indo Kordsa Tbk
Berlina Tbk
Barito Pasific Tbk
Beton Jaya Manunggal Tbk
Budi Starch and Sweetener Tbk
Cahaya Kalbar Tbk
Chitose International Tbk
Centex Tbk
Charoen Pokphand Indonesia Tbk
Citra Turbindo Tbk
Dwi Aneka Jaya Kemasindo Tbk
Davomas Abadi Tbk
Delta Djakarta Tbk
Duta Pertiwi Nusantara
Darya Varia Laboratoria Tbk
1
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Kriteria
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3
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4
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Sampel
1
2
3
4
5
6
7
8
9
10
11
12
13
14
Universitas Sumatera Utara
36.
37.
38.
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77.
78.
EKAD
ERTX
ESTI
ETWA
FASW
FPNI
GDST
GDYR
GGRM
GJTL
HDTX
HMSP
ICBP
IGAR
IKAI
IKBI
IMAS
IMPC
INAF
INAI
INCI
INDF
INDR
INDS
INKP
INRU
INTP
IPOL
ISSP
ITMA
JECC
JKSW
JPFA
JPRS
KAEF
KBLI
KBLM
KBRI
KDSI
KIAS
KICI
KINO
KLBF
Ekadharma International Tbk
Eratex Djaya Tbk
Ever Shine Textile Industry Tbk
Eterindo Wahanatama Tbk
Fajar Surya Wisesa Tbk
Lotte Chemical Titan Tbk
Gunawan Dianjaya Steel Tbk
Goodyear Indonesia Tbk
Gudang Garam Tbk
Gajah Tunggal Tbk
Panasia Indo Resources Tbk
Hanjaya Mandala Sampoerna Tbk
Indofood CBP Sukses Makmur Tbk
Champion Pasific Indonesia Tbk
Inti Keramik Alam Asri Industri Tbk
Sumi Indo Kabel Tbk
Indomobil Sukses International Tbk
Impack Pratama Industry Tbk
Indofarma Tbk
Indal Aluminium Industry Tbk
Intan Wijaya International Tbk
Indofood Sukses Makmur Tbk
Indo Rama Synthetic Tbk
Indospring Tbk
Indah Kiat Pulp & Paper Tbk
Toba Pulp Lestari Tbk
Indocement Tunggal Prakasa Tbk
Indopoly Swakarsa Industry Tbk
Steel Pipe Industry of Indonesia Tbk
Sumber Energi Andalan Tbk
Jembo Cable Company Tbk
Jakarta Kyoei Steel Work LTD Tbk
Japfa Comfeed Indonesia Tbk
Jaya Pari Steel Tbk
Kimia Farma Tbk
KMI Wire and Cable Tbk
Kabelindo Murni Tbk
Kertas Basuki Rachamt Indo Tbk
Kedaung Setia Industial Tbk
Keramika Indonesia Assosiasi Tbk
Kedaung Indah Can Tbk
Kino Indonesia Tbk
Kalbe Farma Tbk
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15
16
17
18
19
20
21
22
23
24
25
26
27
28
29
30
31
32
33
Universitas Sumatera Utara
79.
80.
81.
82.
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116.
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118.
119.
120.
121.
KRAH
KRAS
LION
LMPI
LMSH
LPIN
MAIN
MASA
MBTO
MERK
MLBI
MLIA
MRAT
MYOR
MYRX
MYTX
NIKL
NIPS
PAFI
PBRX
PICO
POLY
PRAS
PSDN
PTSN
PYFA
RICY
RMBA
ROTI
SAIP
SCCO
SCPI
SIAP
SIDO
SIMA
SIPD
SKBM
SKLT
SMBR
SMCB
SMGR
SMSM
SOBI
Grand Kartech Tbk
Krakatau Steel Tbk
Lion Metal Works Tbk
Langgeng Makmur Industry Tbk
Lion Mesh Prima Tbk
Multi Prima Sejahtera Tbk
Malindo Feedmill Tbk
Multistrada Arah Sarana Tbk
Martina Berto Tbk
Merck Tbk
Multi Bintang Indonesia Tbk
Mulia Industrindo Tbk
Mustika Ratu Tbk
Mayora Indah Tbk
Hanson International Tbk
Apac Citra Centertex Tbk
Pelat Timah Nusantara Tbk
Nippres Tbk
Pan Asia Filament Inti Tbk
Pan Brothers Tbk
Pelangi Indah Canindo Tbk
Asia Pasific Fibers Tbk
Prima Alloy Steel Universal Tbk
Prashida Aneka Niaga Tbk
Sat Nusa Persada Tbk
Pyridam Farma Tbk
Ricky Putra Globalindo Tbk
Bentoel International Investama Tbk
Nippon Indosari Corporindo Tbk
Surabaya Agung Industry Pulp Tbk
Supreme Cable Manufacturing Tbk
Schering Plough Indonesia Tbk
Sekawan Intipratama Tbk
Industri Jamu Sido Muncul Tbk
Siwani Makmur Tbk
Siearad Produce Tbk
Sekar Bumi Tbk
Sekar Laut Tbk
Semen Baturaja Persero Tbk
Holcim Indonesia Tbk
Semen Indonesia Tbk
Selamat Sempurna Tbk
Sorini Agro Asia Corporindo Tbk
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-
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-
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-
34
35
36
37
38
39
40
41
42
43
44
45
46
47
48
49
50
Universitas Sumatera Utara
122.
123.
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134.
135.
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148.
149.
SPMA
SQBB
SRIL
SRSN
SSTM
STAR
STTP
SULI
TALF
TBMS
TCID
TFCO
TIRT
TKIM
TOTO
TPIA
TRIS
TRST
TSPC
ULTJ
UNIC
UNIT
UNTX
UNVR
VOKS
WIIM
WTON
YPAS
Suparma Tbk
Taisho Pharmaceutical Indonesia tbk
Sri Rejeki Isman Tbk
Indo Acitama Tbk
Sunson Textile Manufacture Tbk
Star Petrochem Tbk
Siantar Top TBk
SLJ Global Tbk
Tunas Alfin Tbk
Tembaga Mulia Semanan Tbk
Mandom Indonesia Tbk
Tifico Fiber Indonesia Tbk
Tirta Mahakam Resources Tbk
Pabrik Kertas Tjiwi Kimia Tbk
Surya Toto Indonesia Tbk
Chandra Asri Petrochemical
Trisula International Tbk
Trias Sentosa Tbk
Tempo Scan Pasific Tbk
Ultrajaya Milk Industry Tbk
Unggul Indah Cahaya Tbk
Nusantara Inti Corpora Tbk
Unitex Tbk
Unilever Indonesia
Voksel Electric Tbk
Wismilak Inti Makmur Tbk
Wijaya Karya Beton Tbk
Yana Prima Hasta Persada Tbk
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-
51
52
53
54
55
56
57
58
59
60
61
62
63
64
Universitas Sumatera Utara
LAMPIRAN 2
Cash ETR Perusahaan Manufaktur Tahun 2013-2015
Emiten
ADES
AISA
AKPI
AMFG
ASII
AUTO
BATA
BTON
BUDI
CEKA
CPIN
DLTA
DPNS
DVLA
EKAD
GGRM
HMSP
ICBP
IGAR
IMAS
INAI
INCI
INDF
INDS
INTP
JECC
JPFA
KAEF
KBLI
KBLM
KDSI
KICI
2013
0.083184106
0.057130338
0.149132955
0.228781617
0.231878792
0.197642448
2.698684073
0.200710628
0.140081455
0.271782669
0.225460134
0.279235026
0.063200073
0.332112957
0.263435909
0.256508705
0.251758788
0.30882342
0.408273907
1.028081382
0.598132967
0.007524433
0.422569477
0.270554716
0.25089452
0.628238835
0.366223672
0.348519066
0.616633358
2.127539473
0.285194324
0.179040027
2014
0.240996362
0.07464011
0.121029175
0.270497
0.206519329
0.263378978
0.349782574
0.539089303
0.186879139
0.343170561
0.328377534
0.266148894
0.322157123
0.463671959
0.315350147
0.229148004
0.291787998
0.297670068
0.215572672
37.05952667
0.325670792
0.034276794
0.385058539
0.368315775
0.219150293
0.306325322
0.717297424
0.158999194
0.460602662
0.371042081
0.270393986
0.38085612
2015
0.287221279
0.133883521
0.671070803
0.329485658
0.331023943
0.47565937
0.257795936
0.184393474
0.426532374
0.196315259
0.275341116
0.27671715
0.430310713
0.244160583
0.256302126
0.211943221
0.274483795
0.296765989
0.327808799
3.274098885
0.30007021
0.10021579
0.470294538
9.892566435
0.216106114
0.249999971
0.190409029
0.201667034
0.300481061
0.658083617
1.289343139
0.867672898
Universitas Sumatera Utara
KLBF
LION
LMSH
MERK
MLBI
MYOR
NIPS
PICO
PYFA
RICY
ROTI
SCCO
SIDO
SKBM
SKLT
SMBR
SMGR
SMSM
SQBB
SRSN
STAR
STTP
TALF
TCID
TOTO
TRIS
TRST
TSPC
ULTJ
UNIT
UNVR
WIIM
0.253021933
0.29412919
0.198528362
0.243560354
0.219133832
0.254791868
0.318703474
0.409992349
0.206898892
0.657927735
0.264576905
0.358485734
0.964466291
0.103285302
0.352905683
0.254882839
0.221719036
0.201695343
0.256157585
0.315802477
1.046901441
0.218960855
0.230349396
0.28111143
0.284265414
0.273973025
0.395632162
0.551457538
0.390265267
0.257545516
0.252291024
0.194902703
0.2352241
0.255918946
0.433341496
0.349426009
0.315184471
1.215267932
0.351339714
0.196425854
0.440614349
0.554028767
0.190315618
0.24447927
0.44096318
0.308387717
0.277840015
0.17474761
0.215290392
0.251377622
0.267083849
0.273218224
1.026362985
0.31794961
0.248100267
0.279296806
0.25983772
0.445236694
0.616272062
0.575897482
0.334868188
0.763306387
0.242172245
0.415864782
0.257447024
0.199535625
0.389745359
0.289433348
0.270746863
0.126497134
0.436209065
0.133850563
0.3525695
0.436175966
0.201697502
0.209570724
0.240309137
0.455582293
0.564417628
0.141744776
0.229639895
0.257852692
0.301501735
0.466470007
2.498453498
0.22078056
0.290518109
0.090182331
0.308080222
0.322870167
0.655192279
0.646978981
0.159446379
2.448158014
0.244027261
0.232581225
Universitas Sumatera Utara
Lampiran 3
Tobin’s Q Perusahaan Manufaktur Tahun 2013-2015
Emiten
ADES
AISA
AKPI
AMFG
ASII
AUTO
BATA
BTON
BUDI
CEKA
CPIN
DLTA
DPNS
DVLA
EKAD
GGRM
HMSP
ICBP
IGAR
IMAS
INAI
INCI
INDF
INDS
INTP
JECC
JPFA
KAEF
KBLI
KBLM
KDSI
KICI
KLBF
LION
2013
3.07
1.36
0.77
1.08
1.79
1.64
2.44
0.77
0.82
0.83
3.89
7.24
0.74
2.30
1.10
2.01
10.46
3.17
1.19
1.31
0.96
0.39
1.25
0.84
2.90
1.23
1.52
1.67
0.76
0.86
0.75
0.63
5.43
1.42
2014
2.02
1.43
0.79
1.08
1.76
1.70
2.30
0.72
0.81
0.93
3.45
6.53
0.56
1.75
1.21
4.66
11.13
3.46
1.12
1.18
0.96
0.36
1.21
0.66
3.34
1.17
1.31
3.13
0.72
0.82
0.74
0.57
7.11
1.07
2015
1.41
0.99
0.82
0.87
1.47
0.83
1.78
0.61
0.75
0.84
2.22
4.19
0.59
1.35
0.97
2.07
11.66
3.34
0.76
0.99
0.92
0.42
1.03
0.34
3.11
0.88
0.71
1.92
0.65
0.77
0.74
0.56
4.72
1.14
Universitas Sumatera Utara
LMSH
MERK
MLBI
MYOR
NIPS
PICO
PYFA
RICY
ROTI
SCCO
SIDO
SKBM
SKLT
SMBR
SMGR
SMSM
SQBB
SRSN
STAR
STTP
TALF
TCID
TOTO
TRIS
TRST
TSPC
ULTJ
UNIT
UNVR
WIIM
0.76
6.34
14.63
2.99
1.00
0.80
0.91
0.76
3.40
1.11
3.67
1.43
0.95
1.29
3.02
3.33
0.41
0.97
0.67
1.91
1.83
1.83
2.59
1.26
0.69
2.99
4.91
0.52
15.54
1.51
0.61
5.23
12.04
2.42
1.12
0.78
0.86
0.76
3.82
1.00
3.31
1.91
1.16
1.35
3.07
4.25
0.41
0.94
0.68
2.74
1.87
2.21
2.34
1.12
0.79
2.57
3.91
0.51
17.94
1.35
0.57
4.99
8.86
2.95
1.01
0.71
0.74
0.75
2.93
0.91
3.02
1.71
1.27
0.97
2.05
3.44
0.45
0.93
0.66
2.53
1.44
1.77
3.33
0.97
0.68
1.56
3.43
0.51
18.64
1.17
Universitas Sumatera Utara
Lampiran 4
Voluntary Disclosure Perusahaan Manufaktur Tahun 2013-2015
Emiten
ADES
AISA
AKPI
AMFG
ASII
AUTO
BATA
BTON
BUDI
CEKA
CPIN
DLTA
DPNS
DVLA
EKAD
GGRM
HMSP
ICBP
IGAR
IMAS
INAI
INCI
INDF
INDS
INTP
JECC
JPFA
KAEF
KBLI
KBLM
KDSI
KICI
KLBF
LION
LMSH
MERK
2013
2014
0.72
0.86
0.72
0.94
0.82
0.86
0.8
0.82
0.82
0.52
0.82
0.72
0.8
0.74
0.78
0.74
0.7
0.88
0.84
0.8
0.64
0.74
0.84
0.78
0.8
0.84
0.88
0.72
0.8
0.88
0.82
0.78
0.82
0.78
0.74
0.78
2015
0.74
0.92
0.82
0.92
0.82
0.86
0.76
0.82
0.84
0.58
0.82
0.78
0.82
0.8
0.82
0.76
0.74
0.86
0.84
0.86
0.76
0.72
0.84
0.78
0.82
0.84
0.9
0.88
0.78
0.86
0.78
0.76
0.88
0.78
0.8
0.82
0.8
0.92
0.82
0.94
0.84
0.92
0.8
0.82
0.86
0.64
0.84
0.78
0.86
0.8
0.8
0.78
0.84
0.92
0.84
0.84
0.74
0.8
0.88
0.78
0.88
0.88
0.92
0.92
0.76
0.96
0.82
0.76
0.9
0.82
0.8
0.86
Universitas Sumatera Utara
MLBI
MYOR
NIPS
PICO
PYFA
RICY
ROTI
SCCO
SIDO
SKBM
SKLT
SMBR
SMGR
SMSM
SQBB
SRSN
STAR
STTP
TALF
TCID
TOTO
TRIS
TRST
TSPC
ULTJ
UNIT
UNVR
WIIM
0.76
0.86
0.76
0.66
0.78
0.8
0.82
0.86
0.8
0.8
0.72
0.74
0.7
0.86
0.62
0.86
0.8
0.74
0.72
0.8
0.72
0.86
0.7
0.68
0.72
0.7
0.9
0.88
0.78
0.88
0.76
0.66
0.76
0.78
0.82
0.88
0.86
0.82
0.8
0.84
0.92
0.82
0.66
0.88
0.78
0.74
0.72
0.82
0.88
0.92
0.78
0.68
0.78
0.8
0.92
0.9
0.8
0.86
0.76
0.66
0.8
0.82
0.84
0.9
0.9
0.82
0.76
0.88
0.94
0.88
0.66
0.84
0.84
0.72
0.74
0.84
0.92
0.9
0.74
0.68
0.8
0.84
0.92
0.9
Universitas Sumatera Utara
LAMPIRAN 5
Statistik Deskriptif
Descriptive Statistics
N
Minimum
Maximum
Mean
Std. Deviation
Penghindaran Pajak
192
.01
37.06
.6322
2.76192
Nilai Perusahaan
192
.34
18.64
2.2855
2.89843
Transparansi
192
.52
.96
.8067
.07425
Valid N (listwise)
192
Pengujian Normalitas Tahap Pertama
One-Sample Kolmogorov-Smirnov Test
Unstandardized
Residual
N
a,,b
Normal Parameters
192
.0000000
.81149407
.105
.105
-.075
1.453
.029
Mean
Std. Deviation
Absolute
Positive
Negative
Most Extreme Differences
Kolmogorov-Smirnov Z
Asymp. Sig. (2-tailed)
a. Test distribution is Normal.
b. Calculated from data.
Casewise Diagnostics
Case
Number
191
Std. Residual
3.043
a
Nilai Perusahaan Predicted Value
2.93
.4492
Residual
2.47609
a. Dependent Variable: Nilai Perusahaan
Universitas Sumatera Utara
Pengujian Normalitas Tahap Kedua
One-Sample Kolmogorov-Smirnov Test
Unstandardized
Residual
N
a,,b
Normal Parameters
191
.0000000
.79343516
.104
.104
-.073
1.433
.033
Mean
Std. Deviation
Absolute
Positive
Negative
Most Extreme Differences
Kolmogorov-Smirnov Z
Asymp. Sig. (2-tailed)
a. Test distribution is Normal.
b. Calculated from data.
Casewise Diagnostics
Case
Number
127
Std. Residual
a
Nilai Perusahaan Predicted Value
3.080
2.89
.4366
Residual
2.45044
a. Dependent Variable: Nilai Perusahaan
Pengujian Normalitas Tahap Ketiga (Jarak 2.9)
One-Sample Kolmogorov-Smirnov Test
Unstandardized
Residual
N
a,,b
Normal Parameters
Most Extreme Differences
Kolmogorov-Smirnov Z
Asymp. Sig. (2-tailed)
Mean
Std. Deviation
Absolute
Positive
Negative
190
.0000000
.77519029
.102
.102
-.071
1.410
.037
a. Test distribution is Normal.
b. Calculated from data.
Universitas Sumatera Utara
Casewise Diagnostics
Case
Number
63
Std. Residual
a
Nilai Perusahaan Predicted Value
2.994
2.74
.4163
Residual
2.32713
a. Dependent Variable: Nilai Perusahaan
Pengujian Normalitas Tahap Keempat
One-Sample Kolmogorov-Smirnov Test
Unstandardized
Residual
N
a,,b
Normal Parameters
189
.0000000
.75838656
.101
.101
-.069
1.385
.043
Mean
Std. Deviation
Absolute
Positive
Negative
Most Extreme Differences
Kolmogorov-Smirnov Z
Asymp. Sig. (2-tailed)
a. Test distribution is Normal.
b. Calculated from data.
Casewise Diagnostics
Case
Number
37
Std. Residual
2.969
a
Nilai Perusahaan Predicted Value
2.68
.4251
Residual
2.25796
a. Dependent Variable: Nilai Perusahaan
Universitas Sumatera Utara
Pengujian Normalitas Tahap Kelima
One-Sample Kolmogorov-Smirnov Test
Unstandardized
Residual
N
a,,b
Normal Parameters
Most Extreme Differences
Kolmogorov-Smirnov Z
Asymp. Sig. (2-tailed)
Mean
Std. Deviation
Absolute
Positive
Negative
188
.0000000
.74215558
.098
.098
-.067
1.348
.053
a. Test distribution is Normal.
b. Calculated from data.
Universitas Sumatera Utara
b
Model Summary
Model
1
R
.176
Adjusted R
Square
R Square
a
.031
Std. Error of the
Estimate
.026
Durbin-Watson
.74415
1.826
a. Predictors: (Constant), Penghindaran Pajak
b. Dependent Variable: Nilai Perusahaan
b
ANOVA
Model
1
Sum of Squares
Regression
df
Mean Square
3.281
1
3.281
Residual
102.999
186
.554
Total
106.280
187
F
Sig.
5.925
.016
a
a. Predictors: (Constant), Penghindaran Pajak
b. Dependent Variable: Nilai Perusahaan
Coefficients
a
Unstandardized Coefficients
Model
1
B
(Constant)
Penghindaran Pajak
Std. Error
.185
.090
-.149
.061
Standardized
Coefficients
Beta
t
-.176
Sig.
2.049
.042
-2.434
.016
a. Dependent Variable: Nilai Perusahaan
Universitas Sumatera Utara
Runs Test
Unstandardized
Residual
a
Test Value
Cases < Test Value
Cases >= Test Value
Total Cases
Number of Runs
Z
Asymp. Sig. (2-tailed)
-.15636
94
94
188
92
-.439
.661
a. Median
Universitas Sumatera Utara
Pengujian Moderasi dengan Pendekatan MRA
Coefficients
Unstandardized
Coefficients
Model
1
B
(Constant)
Std. Error
2.551
1.779
Penghindaran
Pajak
-2.414
2.192
Transparansi
-.604
XZ
2.771
a
Standardized
Coefficients
Collinearity
Statistics
Beta
t
Sig.
Tolerance
VIF
1.433
.153
-3.372
-1.101
.272
.001 1743.827
2.177
-.022
-.277
.782
.833
2.565
3.311
1.080
.281
.001 1746.058
1.200
a. Dependent Variable: Nilai Perusahaan
Pengujian Moderasi dengan Pendekatan Residual
Coefficients
a
Unstandardized Coefficients
Model
1
B
(Constant)
Nilai Perusahaan
Std. Error
.059
.004
-.004
.004
Standardized
Coefficients
Beta
t
-.071
Sig.
15.636
.000
-.972
.332
a. Dependent Variable: abs_residual_moderasi
Universitas Sumatera Utara
Lampiran 1
Daftar Perusahaan Yang Memenuhi Kriteria
No
Kode
Nama Perusahaan
1.
2.
3.
4.
5.
6.
7.
8.
9.
10.
11.
12.
13.
14.
15.
16.
17.
18.
19.
20.
21.
22.
23.
24.
25.
26.
27.
28.
29.
30.
31.
32.
33.
34.
35.
ADES
ADMG
AISA
AKKU
AKPI
ALDO
ALKA
ALMI
ALTO
AMFG
AMIN
APLI
ARGO
ARNA
ASII
AUTO
BAJA
BATA
BIMA
BOLT
BRAM
BRNA
BRPT
BTON
BUDI
CEKA
CINT
CNTX
CPIN
CTBN
DAJK
DAVO
DLTA
DPNS
DVLA
Akasha Wira International Tbk
Polychem Indonesia Tbk
Tiga Pilar Sejahtera Food Tbk
Alam Karya Unggul Tbk
Argha Karya Prima Industry Tbk
Alkindo Naratama Tbk
Alaska Industrindo Tbk
Alumindo Light Metal Industry Tbk
Tri Banyan Tirta Tbk
Asahimas Flat Glass Tbk
Ateliers Mecaniques D’Indonesia
Asiaplast Industries Tbk
Argo Pantes Tbk
Arwana Citra Mulia Tbk
Astra International Tbk
Astra Auto Part Tbk
Saranacentral Bajatama Tbk
Sepatu Bata Tbk
Primarindo Asia Infrastruture Tbk
Garuda Metalindo Tbk
Indo Kordsa Tbk
Berlina Tbk
Barito Pasific Tbk
Beton Jaya Manunggal Tbk
Budi Starch and Sweetener Tbk
Cahaya Kalbar Tbk
Chitose International Tbk
Centex Tbk
Charoen Pokphand Indonesia Tbk
Citra Turbindo Tbk
Dwi Aneka Jaya Kemasindo Tbk
Davomas Abadi Tbk
Delta Djakarta Tbk
Duta Pertiwi Nusantara
Darya Varia Laboratoria Tbk
1
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Kriteria
2
3
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Sampel
1
2
3
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Universitas Sumatera Utara
36.
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70.
71.
72.
73.
74.
75.
76.
77.
78.
EKAD
ERTX
ESTI
ETWA
FASW
FPNI
GDST
GDYR
GGRM
GJTL
HDTX
HMSP
ICBP
IGAR
IKAI
IKBI
IMAS
IMPC
INAF
INAI
INCI
INDF
INDR
INDS
INKP
INRU
INTP
IPOL
ISSP
ITMA
JECC
JKSW
JPFA
JPRS
KAEF
KBLI
KBLM
KBRI
KDSI
KIAS
KICI
KINO
KLBF
Ekadharma International Tbk
Eratex Djaya Tbk
Ever Shine Textile Industry Tbk
Eterindo Wahanatama Tbk
Fajar Surya Wisesa Tbk
Lotte Chemical Titan Tbk
Gunawan Dianjaya Steel Tbk
Goodyear Indonesia Tbk
Gudang Garam Tbk
Gajah Tunggal Tbk
Panasia Indo Resources Tbk
Hanjaya Mandala Sampoerna Tbk
Indofood CBP Sukses Makmur Tbk
Champion Pasific Indonesia Tbk
Inti Keramik Alam Asri Industri Tbk
Sumi Indo Kabel Tbk
Indomobil Sukses International Tbk
Impack Pratama Industry Tbk
Indofarma Tbk
Indal Aluminium Industry Tbk
Intan Wijaya International Tbk
Indofood Sukses Makmur Tbk
Indo Rama Synthetic Tbk
Indospring Tbk
Indah Kiat Pulp & Paper Tbk
Toba Pulp Lestari Tbk
Indocement Tunggal Prakasa Tbk
Indopoly Swakarsa Industry Tbk
Steel Pipe Industry of Indonesia Tbk
Sumber Energi Andalan Tbk
Jembo Cable Company Tbk
Jakarta Kyoei Steel Work LTD Tbk
Japfa Comfeed Indonesia Tbk
Jaya Pari Steel Tbk
Kimia Farma Tbk
KMI Wire and Cable Tbk
Kabelindo Murni Tbk
Kertas Basuki Rachamt Indo Tbk
Kedaung Setia Industial Tbk
Keramika Indonesia Assosiasi Tbk
Kedaung Indah Can Tbk
Kino Indonesia Tbk
Kalbe Farma Tbk
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√
15
16
17
18
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20
21
22
23
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25
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27
28
29
30
31
32
33
Universitas Sumatera Utara
79.
80.
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87.
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116.
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118.
119.
120.
121.
KRAH
KRAS
LION
LMPI
LMSH
LPIN
MAIN
MASA
MBTO
MERK
MLBI
MLIA
MRAT
MYOR
MYRX
MYTX
NIKL
NIPS
PAFI
PBRX
PICO
POLY
PRAS
PSDN
PTSN
PYFA
RICY
RMBA
ROTI
SAIP
SCCO
SCPI
SIAP
SIDO
SIMA
SIPD
SKBM
SKLT
SMBR
SMCB
SMGR
SMSM
SOBI
Grand Kartech Tbk
Krakatau Steel Tbk
Lion Metal Works Tbk
Langgeng Makmur Industry Tbk
Lion Mesh Prima Tbk
Multi Prima Sejahtera Tbk
Malindo Feedmill Tbk
Multistrada Arah Sarana Tbk
Martina Berto Tbk
Merck Tbk
Multi Bintang Indonesia Tbk
Mulia Industrindo Tbk
Mustika Ratu Tbk
Mayora Indah Tbk
Hanson International Tbk
Apac Citra Centertex Tbk
Pelat Timah Nusantara Tbk
Nippres Tbk
Pan Asia Filament Inti Tbk
Pan Brothers Tbk
Pelangi Indah Canindo Tbk
Asia Pasific Fibers Tbk
Prima Alloy Steel Universal Tbk
Prashida Aneka Niaga Tbk
Sat Nusa Persada Tbk
Pyridam Farma Tbk
Ricky Putra Globalindo Tbk
Bentoel International Investama Tbk
Nippon Indosari Corporindo Tbk
Surabaya Agung Industry Pulp Tbk
Supreme Cable Manufacturing Tbk
Schering Plough Indonesia Tbk
Sekawan Intipratama Tbk
Industri Jamu Sido Muncul Tbk
Siwani Makmur Tbk
Siearad Produce Tbk
Sekar Bumi Tbk
Sekar Laut Tbk
Semen Baturaja Persero Tbk
Holcim Indonesia Tbk
Semen Indonesia Tbk
Selamat Sempurna Tbk
Sorini Agro Asia Corporindo Tbk
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-
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√
√
-
34
35
36
37
38
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40
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48
49
50
Universitas Sumatera Utara
122.
123.
124.
125.
126.
127.
128.
129.
130.
131.
132.
133.
134.
135.
136.
137.
138.
139.
140.
141.
142.
143.
144.
145.
146.
147.
148.
149.
SPMA
SQBB
SRIL
SRSN
SSTM
STAR
STTP
SULI
TALF
TBMS
TCID
TFCO
TIRT
TKIM
TOTO
TPIA
TRIS
TRST
TSPC
ULTJ
UNIC
UNIT
UNTX
UNVR
VOKS
WIIM
WTON
YPAS
Suparma Tbk
Taisho Pharmaceutical Indonesia tbk
Sri Rejeki Isman Tbk
Indo Acitama Tbk
Sunson Textile Manufacture Tbk
Star Petrochem Tbk
Siantar Top TBk
SLJ Global Tbk
Tunas Alfin Tbk
Tembaga Mulia Semanan Tbk
Mandom Indonesia Tbk
Tifico Fiber Indonesia Tbk
Tirta Mahakam Resources Tbk
Pabrik Kertas Tjiwi Kimia Tbk
Surya Toto Indonesia Tbk
Chandra Asri Petrochemical
Trisula International Tbk
Trias Sentosa Tbk
Tempo Scan Pasific Tbk
Ultrajaya Milk Industry Tbk
Unggul Indah Cahaya Tbk
Nusantara Inti Corpora Tbk
Unitex Tbk
Unilever Indonesia
Voksel Electric Tbk
Wismilak Inti Makmur Tbk
Wijaya Karya Beton Tbk
Yana Prima Hasta Persada Tbk
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√
-
51
52
53
54
55
56
57
58
59
60
61
62
63
64
Universitas Sumatera Utara
LAMPIRAN 2
Cash ETR Perusahaan Manufaktur Tahun 2013-2015
Emiten
ADES
AISA
AKPI
AMFG
ASII
AUTO
BATA
BTON
BUDI
CEKA
CPIN
DLTA
DPNS
DVLA
EKAD
GGRM
HMSP
ICBP
IGAR
IMAS
INAI
INCI
INDF
INDS
INTP
JECC
JPFA
KAEF
KBLI
KBLM
KDSI
KICI
2013
0.083184106
0.057130338
0.149132955
0.228781617
0.231878792
0.197642448
2.698684073
0.200710628
0.140081455
0.271782669
0.225460134
0.279235026
0.063200073
0.332112957
0.263435909
0.256508705
0.251758788
0.30882342
0.408273907
1.028081382
0.598132967
0.007524433
0.422569477
0.270554716
0.25089452
0.628238835
0.366223672
0.348519066
0.616633358
2.127539473
0.285194324
0.179040027
2014
0.240996362
0.07464011
0.121029175
0.270497
0.206519329
0.263378978
0.349782574
0.539089303
0.186879139
0.343170561
0.328377534
0.266148894
0.322157123
0.463671959
0.315350147
0.229148004
0.291787998
0.297670068
0.215572672
37.05952667
0.325670792
0.034276794
0.385058539
0.368315775
0.219150293
0.306325322
0.717297424
0.158999194
0.460602662
0.371042081
0.270393986
0.38085612
2015
0.287221279
0.133883521
0.671070803
0.329485658
0.331023943
0.47565937
0.257795936
0.184393474
0.426532374
0.196315259
0.275341116
0.27671715
0.430310713
0.244160583
0.256302126
0.211943221
0.274483795
0.296765989
0.327808799
3.274098885
0.30007021
0.10021579
0.470294538
9.892566435
0.216106114
0.249999971
0.190409029
0.201667034
0.300481061
0.658083617
1.289343139
0.867672898
Universitas Sumatera Utara
KLBF
LION
LMSH
MERK
MLBI
MYOR
NIPS
PICO
PYFA
RICY
ROTI
SCCO
SIDO
SKBM
SKLT
SMBR
SMGR
SMSM
SQBB
SRSN
STAR
STTP
TALF
TCID
TOTO
TRIS
TRST
TSPC
ULTJ
UNIT
UNVR
WIIM
0.253021933
0.29412919
0.198528362
0.243560354
0.219133832
0.254791868
0.318703474
0.409992349
0.206898892
0.657927735
0.264576905
0.358485734
0.964466291
0.103285302
0.352905683
0.254882839
0.221719036
0.201695343
0.256157585
0.315802477
1.046901441
0.218960855
0.230349396
0.28111143
0.284265414
0.273973025
0.395632162
0.551457538
0.390265267
0.257545516
0.252291024
0.194902703
0.2352241
0.255918946
0.433341496
0.349426009
0.315184471
1.215267932
0.351339714
0.196425854
0.440614349
0.554028767
0.190315618
0.24447927
0.44096318
0.308387717
0.277840015
0.17474761
0.215290392
0.251377622
0.267083849
0.273218224
1.026362985
0.31794961
0.248100267
0.279296806
0.25983772
0.445236694
0.616272062
0.575897482
0.334868188
0.763306387
0.242172245
0.415864782
0.257447024
0.199535625
0.389745359
0.289433348
0.270746863
0.126497134
0.436209065
0.133850563
0.3525695
0.436175966
0.201697502
0.209570724
0.240309137
0.455582293
0.564417628
0.141744776
0.229639895
0.257852692
0.301501735
0.466470007
2.498453498
0.22078056
0.290518109
0.090182331
0.308080222
0.322870167
0.655192279
0.646978981
0.159446379
2.448158014
0.244027261
0.232581225
Universitas Sumatera Utara
Lampiran 3
Tobin’s Q Perusahaan Manufaktur Tahun 2013-2015
Emiten
ADES
AISA
AKPI
AMFG
ASII
AUTO
BATA
BTON
BUDI
CEKA
CPIN
DLTA
DPNS
DVLA
EKAD
GGRM
HMSP
ICBP
IGAR
IMAS
INAI
INCI
INDF
INDS
INTP
JECC
JPFA
KAEF
KBLI
KBLM
KDSI
KICI
KLBF
LION
2013
3.07
1.36
0.77
1.08
1.79
1.64
2.44
0.77
0.82
0.83
3.89
7.24
0.74
2.30
1.10
2.01
10.46
3.17
1.19
1.31
0.96
0.39
1.25
0.84
2.90
1.23
1.52
1.67
0.76
0.86
0.75
0.63
5.43
1.42
2014
2.02
1.43
0.79
1.08
1.76
1.70
2.30
0.72
0.81
0.93
3.45
6.53
0.56
1.75
1.21
4.66
11.13
3.46
1.12
1.18
0.96
0.36
1.21
0.66
3.34
1.17
1.31
3.13
0.72
0.82
0.74
0.57
7.11
1.07
2015
1.41
0.99
0.82
0.87
1.47
0.83
1.78
0.61
0.75
0.84
2.22
4.19
0.59
1.35
0.97
2.07
11.66
3.34
0.76
0.99
0.92
0.42
1.03
0.34
3.11
0.88
0.71
1.92
0.65
0.77
0.74
0.56
4.72
1.14
Universitas Sumatera Utara
LMSH
MERK
MLBI
MYOR
NIPS
PICO
PYFA
RICY
ROTI
SCCO
SIDO
SKBM
SKLT
SMBR
SMGR
SMSM
SQBB
SRSN
STAR
STTP
TALF
TCID
TOTO
TRIS
TRST
TSPC
ULTJ
UNIT
UNVR
WIIM
0.76
6.34
14.63
2.99
1.00
0.80
0.91
0.76
3.40
1.11
3.67
1.43
0.95
1.29
3.02
3.33
0.41
0.97
0.67
1.91
1.83
1.83
2.59
1.26
0.69
2.99
4.91
0.52
15.54
1.51
0.61
5.23
12.04
2.42
1.12
0.78
0.86
0.76
3.82
1.00
3.31
1.91
1.16
1.35
3.07
4.25
0.41
0.94
0.68
2.74
1.87
2.21
2.34
1.12
0.79
2.57
3.91
0.51
17.94
1.35
0.57
4.99
8.86
2.95
1.01
0.71
0.74
0.75
2.93
0.91
3.02
1.71
1.27
0.97
2.05
3.44
0.45
0.93
0.66
2.53
1.44
1.77
3.33
0.97
0.68
1.56
3.43
0.51
18.64
1.17
Universitas Sumatera Utara
Lampiran 4
Voluntary Disclosure Perusahaan Manufaktur Tahun 2013-2015
Emiten
ADES
AISA
AKPI
AMFG
ASII
AUTO
BATA
BTON
BUDI
CEKA
CPIN
DLTA
DPNS
DVLA
EKAD
GGRM
HMSP
ICBP
IGAR
IMAS
INAI
INCI
INDF
INDS
INTP
JECC
JPFA
KAEF
KBLI
KBLM
KDSI
KICI
KLBF
LION
LMSH
MERK
2013
2014
0.72
0.86
0.72
0.94
0.82
0.86
0.8
0.82
0.82
0.52
0.82
0.72
0.8
0.74
0.78
0.74
0.7
0.88
0.84
0.8
0.64
0.74
0.84
0.78
0.8
0.84
0.88
0.72
0.8
0.88
0.82
0.78
0.82
0.78
0.74
0.78
2015
0.74
0.92
0.82
0.92
0.82
0.86
0.76
0.82
0.84
0.58
0.82
0.78
0.82
0.8
0.82
0.76
0.74
0.86
0.84
0.86
0.76
0.72
0.84
0.78
0.82
0.84
0.9
0.88
0.78
0.86
0.78
0.76
0.88
0.78
0.8
0.82
0.8
0.92
0.82
0.94
0.84
0.92
0.8
0.82
0.86
0.64
0.84
0.78
0.86
0.8
0.8
0.78
0.84
0.92
0.84
0.84
0.74
0.8
0.88
0.78
0.88
0.88
0.92
0.92
0.76
0.96
0.82
0.76
0.9
0.82
0.8
0.86
Universitas Sumatera Utara
MLBI
MYOR
NIPS
PICO
PYFA
RICY
ROTI
SCCO
SIDO
SKBM
SKLT
SMBR
SMGR
SMSM
SQBB
SRSN
STAR
STTP
TALF
TCID
TOTO
TRIS
TRST
TSPC
ULTJ
UNIT
UNVR
WIIM
0.76
0.86
0.76
0.66
0.78
0.8
0.82
0.86
0.8
0.8
0.72
0.74
0.7
0.86
0.62
0.86
0.8
0.74
0.72
0.8
0.72
0.86
0.7
0.68
0.72
0.7
0.9
0.88
0.78
0.88
0.76
0.66
0.76
0.78
0.82
0.88
0.86
0.82
0.8
0.84
0.92
0.82
0.66
0.88
0.78
0.74
0.72
0.82
0.88
0.92
0.78
0.68
0.78
0.8
0.92
0.9
0.8
0.86
0.76
0.66
0.8
0.82
0.84
0.9
0.9
0.82
0.76
0.88
0.94
0.88
0.66
0.84
0.84
0.72
0.74
0.84
0.92
0.9
0.74
0.68
0.8
0.84
0.92
0.9
Universitas Sumatera Utara
LAMPIRAN 5
Statistik Deskriptif
Descriptive Statistics
N
Minimum
Maximum
Mean
Std. Deviation
Penghindaran Pajak
192
.01
37.06
.6322
2.76192
Nilai Perusahaan
192
.34
18.64
2.2855
2.89843
Transparansi
192
.52
.96
.8067
.07425
Valid N (listwise)
192
Pengujian Normalitas Tahap Pertama
One-Sample Kolmogorov-Smirnov Test
Unstandardized
Residual
N
a,,b
Normal Parameters
192
.0000000
.81149407
.105
.105
-.075
1.453
.029
Mean
Std. Deviation
Absolute
Positive
Negative
Most Extreme Differences
Kolmogorov-Smirnov Z
Asymp. Sig. (2-tailed)
a. Test distribution is Normal.
b. Calculated from data.
Casewise Diagnostics
Case
Number
191
Std. Residual
3.043
a
Nilai Perusahaan Predicted Value
2.93
.4492
Residual
2.47609
a. Dependent Variable: Nilai Perusahaan
Universitas Sumatera Utara
Pengujian Normalitas Tahap Kedua
One-Sample Kolmogorov-Smirnov Test
Unstandardized
Residual
N
a,,b
Normal Parameters
191
.0000000
.79343516
.104
.104
-.073
1.433
.033
Mean
Std. Deviation
Absolute
Positive
Negative
Most Extreme Differences
Kolmogorov-Smirnov Z
Asymp. Sig. (2-tailed)
a. Test distribution is Normal.
b. Calculated from data.
Casewise Diagnostics
Case
Number
127
Std. Residual
a
Nilai Perusahaan Predicted Value
3.080
2.89
.4366
Residual
2.45044
a. Dependent Variable: Nilai Perusahaan
Pengujian Normalitas Tahap Ketiga (Jarak 2.9)
One-Sample Kolmogorov-Smirnov Test
Unstandardized
Residual
N
a,,b
Normal Parameters
Most Extreme Differences
Kolmogorov-Smirnov Z
Asymp. Sig. (2-tailed)
Mean
Std. Deviation
Absolute
Positive
Negative
190
.0000000
.77519029
.102
.102
-.071
1.410
.037
a. Test distribution is Normal.
b. Calculated from data.
Universitas Sumatera Utara
Casewise Diagnostics
Case
Number
63
Std. Residual
a
Nilai Perusahaan Predicted Value
2.994
2.74
.4163
Residual
2.32713
a. Dependent Variable: Nilai Perusahaan
Pengujian Normalitas Tahap Keempat
One-Sample Kolmogorov-Smirnov Test
Unstandardized
Residual
N
a,,b
Normal Parameters
189
.0000000
.75838656
.101
.101
-.069
1.385
.043
Mean
Std. Deviation
Absolute
Positive
Negative
Most Extreme Differences
Kolmogorov-Smirnov Z
Asymp. Sig. (2-tailed)
a. Test distribution is Normal.
b. Calculated from data.
Casewise Diagnostics
Case
Number
37
Std. Residual
2.969
a
Nilai Perusahaan Predicted Value
2.68
.4251
Residual
2.25796
a. Dependent Variable: Nilai Perusahaan
Universitas Sumatera Utara
Pengujian Normalitas Tahap Kelima
One-Sample Kolmogorov-Smirnov Test
Unstandardized
Residual
N
a,,b
Normal Parameters
Most Extreme Differences
Kolmogorov-Smirnov Z
Asymp. Sig. (2-tailed)
Mean
Std. Deviation
Absolute
Positive
Negative
188
.0000000
.74215558
.098
.098
-.067
1.348
.053
a. Test distribution is Normal.
b. Calculated from data.
Universitas Sumatera Utara
b
Model Summary
Model
1
R
.176
Adjusted R
Square
R Square
a
.031
Std. Error of the
Estimate
.026
Durbin-Watson
.74415
1.826
a. Predictors: (Constant), Penghindaran Pajak
b. Dependent Variable: Nilai Perusahaan
b
ANOVA
Model
1
Sum of Squares
Regression
df
Mean Square
3.281
1
3.281
Residual
102.999
186
.554
Total
106.280
187
F
Sig.
5.925
.016
a
a. Predictors: (Constant), Penghindaran Pajak
b. Dependent Variable: Nilai Perusahaan
Coefficients
a
Unstandardized Coefficients
Model
1
B
(Constant)
Penghindaran Pajak
Std. Error
.185
.090
-.149
.061
Standardized
Coefficients
Beta
t
-.176
Sig.
2.049
.042
-2.434
.016
a. Dependent Variable: Nilai Perusahaan
Universitas Sumatera Utara
Runs Test
Unstandardized
Residual
a
Test Value
Cases < Test Value
Cases >= Test Value
Total Cases
Number of Runs
Z
Asymp. Sig. (2-tailed)
-.15636
94
94
188
92
-.439
.661
a. Median
Universitas Sumatera Utara
Pengujian Moderasi dengan Pendekatan MRA
Coefficients
Unstandardized
Coefficients
Model
1
B
(Constant)
Std. Error
2.551
1.779
Penghindaran
Pajak
-2.414
2.192
Transparansi
-.604
XZ
2.771
a
Standardized
Coefficients
Collinearity
Statistics
Beta
t
Sig.
Tolerance
VIF
1.433
.153
-3.372
-1.101
.272
.001 1743.827
2.177
-.022
-.277
.782
.833
2.565
3.311
1.080
.281
.001 1746.058
1.200
a. Dependent Variable: Nilai Perusahaan
Pengujian Moderasi dengan Pendekatan Residual
Coefficients
a
Unstandardized Coefficients
Model
1
B
(Constant)
Nilai Perusahaan
Std. Error
.059
.004
-.004
.004
Standardized
Coefficients
Beta
t
-.071
Sig.
15.636
.000
-.972
.332
a. Dependent Variable: abs_residual_moderasi
Universitas Sumatera Utara