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This research aims to investigate the impact of Good Corporate Governance (GCG) which are measured by 3 indicators; institutional ownership, managerial ownership, board indeoendence, and Corporate Social Responsibility Disclosure on Tax Avoidance in Multinational Companies on Indonesia. The study used multiple linear regression with periods start from 2022 until 2024. The sample of this study is a multinational companies in Indonesia with the total of 47 samples for 3 years, the criteria of the company can be said multinational companies is if the companies had a entities in more than one country. Tax avoidance is measured using the Cash Effective Tax Rate (CETR), while GCG variables and CSR disclosure are measured based on relevant ownership structures, board composition, and the Global Reporting Initiative (GRI) index. The result shows that Institutional ownership had a significantly negative effect of tax avoidance, while the other three independent variables had no significant power in Tax Avoidance. This study concludes that tax avoidance in multinational companies is a complex phenomenon influenced by various internal and external factors beyond the scope of this research. The findings provide practical implications for regulators and investors and suggest that future research should consider additional variables, longer observation periods, and alternative tax avoidance proxies.

This study investigates the determinants of dividend payout policy in energy sector firms listed on the Indonesia Stock Exchange during the 2020–2024 period. Dividend policy is a critical issue in emerging markets, especially in capital-intensive industries with high investment needs and earnings volatility. The research examines whether profitability and ownership structure—specifically institutional and managerial ownership—significantly influence dividend payout decisions, considering firm characteristics. The study analyzes the effect of profitability, institutional ownership, and managerial ownership on the dividend payout ratio, while controlling for firm size and leverage. A quantitative approach is used, employing pooled ordinary least squares (OLS) regression on 245 firm-year observations. Dividend payout ratio is measured as dividend per share divided by earnings per share, profitability is proxied by return on equity, and ownership variables are expressed as shareholding proportions. Descriptive analysis and classical assumption tests precede hypothesis testing. The results show that profitability positively and significantly affects dividend payout, suggesting that firms with better financial performance tend to distribute higher dividends. Firm size also positively influences dividend policy, while leverage negatively impacts it, reflecting the role of financial capacity and capital structure. However, institutional and managerial ownership do not show significant effects on dividend payout decisions. The findings indicate that dividend policy in Indonesian energy firms is primarily driven by financial performance and structural characteristics rather than ownership-based governance mechanisms. This study offers sector-specific evidence that refines agency and signaling perspectives on dividend policy in emerging markets, with practical implications for managers, investors, and regulators.

This study examines the influence of foreign ownership, return on assets (ROA), and firm size on environmental, social, and governance (ESG) disclosure among energy sector companies listed on the Indonesia Stock Exchange (IDX) during 2022–2024. The sample was selected through purposive sampling, including firms that consistently published annual and sustainability reports in accordance with the Global Reporting Initiative (GRI) standards. ESG disclosure was measured as the proportion of disclosed GRI indicators to the total applicable indicators. Multiple linear regression analysis shows that foreign ownership and firm size significantly enhance ESG disclosure, while ROA has no significant effect. These results support legitimacy theory, suggesting that companies increase ESG transparency primarily to secure societal acceptance and maintain their social license to operate. In the energy sector, where environmental sensitivity and public scrutiny are high, ownership structure and firm scale emerge as stronger determinants of ESG disclosure than short-term profitability.

This study empirically examines the effects of ownership structure, including managerial, institutional, and public ownership, on tax avoidance practices, using profitability as a moderating variable. The population in this study consists of manufacturing companies listed on the Indonesia Stock Exchange (IDX), from which a sample was selected using purposive sampling. A total of 330 observations were collected from 110 manufacturing companies for the period 2022–2024. The variables were tested using multiple linear regression in EViews 12. This study expands on previous research by using profitability as a moderating variable that can influence the relationship between ownership structure and tax avoidance. The results show that institutional ownership has a negative and significant effect on tax avoidance practices. An increase in institutional share ownership can reduce tax avoidance practices. Meanwhile, managerial and public ownership do not affect tax avoidance practices. In the moderation test, profitability strengthened the effect of managerial and institutional ownership on tax avoidance. Still, it did not moderate the impact between public ownership and tax avoidance.

This study aims to examine the effect of ownership structure on audit report lag (ARL) in State-Owned Enterprises (SOEs) in Indonesia. The ownership structures studied include managerial ownership, government ownership, and institutional ownership. The research method used is a quantitative approach with multiple linear regression analysis, using secondary data obtained from annual reports and audited financial statements of SOEs listed on the Indonesia Stock Exchange (IDX) for the 2019-2023 period. The results show that managerial ownership has a negative effect on ARL, meaning that the higher the managerial ownership, the faster the audit report completion. Conversely, government ownership has a positive effect on ARL, indicating that the greater the government ownership, the longer the time required to complete the audit report. Institutional ownership also has a negative effect on ARL, indicating that companies with institutional ownership tend to be faster in completing audit reports. This study provides insight into the role of ownership structure in influencing the efficiency of audit report completion time in Indonesian SOEs.

Taxes are a primary source of government revenue and play a crucial role in economic development. However, tax avoidance practices are still widely practiced by companies, including in the mining sector, which has significant potential to generate state revenue. This study aims to examine the influence of financial distress, corporate governance (independent commissioners and audit committees), and institutional ownership on tax avoidance in mining companies listed on the Indonesia Stock Exchange for the 2020–2023 period. The study population consisted of 83 companies, and through purposive sampling, 61 companies were selected, with a total of 244 observations. The analysis used panel data regression with the help of Eviews 25. The results indicate that financial distress and institutional ownership have a positive effect on tax avoidance, while independent commissioners and audit committees have a negative effect on tax avoidance. These findings suggest that a company's financial condition and ownership structure play a significant role in determining tax avoidance policies.

This study aims to analyze the influence of multinationality and tax haven utilization on transfer pricing activities, with institutional ownership as a moderating variable. The research focuses on energy sector companies in Indonesia, using 70 data samples obtained from company reports and financial statements. Regression analysis with moderation was employed to test the hypotheses. The findings reveal that both multinationality and tax haven practices significantly influence transfer pricing activities. However, institutional ownership does not moderate the relationship between multinationality and transfer pricing but does moderate the relationship between tax haven and transfer pricing. These findings indicate that multinational expansion and the use of tax havens play an essential role in determining corporate transfer pricing behavior. Furthermore, the presence of institutional ownership strengthens the influence of tax haven utilization on transfer pricing practices, showing that ownership structure affects how companies manage their tax-related strategies. This research contributes to a better understanding of the determinants of transfer pricing in multinational enterprises and offers practical implications for policymakers in designing effective tax regulations and governance standards related to corporate taxation.

Environmental sustainability has become an essential approach for companies to enhance their competitive advantage and reputation. This study examines the effect of ownership structure on sustainability performance and firm value. This study uses data from state-owned enterprises listed on the Indonesia Stock Exchange. Ownership structure is proxied by institutional ownership, management ownership, and public ownership; sustainability performance is proxied by the total economic score, environmental score, and social score; and firm value is proxied by Tobin's Q. Our results reveal that ownership structure (management ownership, institutional ownership, and public ownership) have a direct effect on firm value, but indirectly do not have an indirect effect on firm value through CSR does not mediate the relationship between management ownership and institutional ownership with firm value. The unique findings of this study indicate that CSR mediates the relationship between public ownership and firm value. Public ownership partially mediates the relationship between firm type and firm value. The implications of this study will be significant for policymakers, corporate management, academics, and investors in considering the adoption and importance of corporate environmental practices.

This study aims to analyze the influence of Good Corporate Governance (GCG), intellectual capital, and leverage on firm value in technology sector companies listed on the Indonesia Stock Exchange (IDX) for the 2021–2024 period. GCG is measured through three indicators: managerial ownership, institutional ownership, and the presence of an audit committee. Intellectual capital is measured using the Value Added Intellectual Coefficient (VAIC™) method, while leverage is measured using the Debt to Equity Ratio (DER). Firm value as the dependent variable is measured using the Tobin's Q ratio. This study uses a quantitative approach with secondary data obtained from annual reports and financial statements of companies accessed through the official IDX website and each company's website. A purposive sampling technique was used to determine the sample, and eight companies were obtained with a total of 32 observation data over a four-year period. The results show that leverage has a significant effect on firm value, indicating that appropriate and proportional debt structure management is a key factor in increasing the value of companies in the technology sector. Meanwhile, managerial ownership, institutional ownership, the presence of an audit committee, and intellectual capital did not show a significant effect on firm value. This suggests that, in the technology sector, external financing strategies play a greater role than internal company factors such as ownership structure and intangible assets. These findings are expected to serve as a reference for company management and investors in formulating financing policies and managing knowledge-based resources.  

This study aims to examine the influence of profitability, Sustainable Financial Performance, and firm size on tax avoidance in banking companies listed on the Indonesia Stock Exchange (IDX) during the 2022–2024 period. The research uses a quantitative approach, relying on secondary data obtained from the annual financial reports of banking companies. The analysis method applied is multiple linear regression to assess the effect of the independent variables profitability, Sustainable Financial Performance, and firm size on the dependent variable, tax avoidance. The findings reveal that profitability, Sustainable Financial Performance, and firm size have a simultaneous and significant impact on tax avoidance. Partially, each variable also exerts a significant influence, suggesting that financial performance, capital structure, and company scale play key roles in determining tax avoidance behavior. The results are expected to enrich tax accounting literature and serve as practical input for banking management in formulating legal and efficient tax strategies.

Carbon emissions in Indonesia continue to increase in line with the growing energy consumption needed to meet public demands. Energy sector companies, which contribute significantly to carbon emissions, are expected to take responsibility for their operational activities. One form of accountability is through carbon emission disclosure as a means of transparency to stakeholders. This study aims to examine the impact of institutional ownership, managerial ownership, and foreign ownership on carbon emission disclosure. The research objects are energy sector companies listed on the Indonesia Stock Exchange (IDX) for the 2021–2023 period. The study utilizes secondary data derived from annual reports, with a sample of 35 companies and 95 observations in total. Hypothesis testing was conducted using the t-test. The results indicate that institutional ownership and foreign ownership have a positive effect on carbon emission disclosure, while managerial ownership has a negative effect on carbon emission disclosure.

Decisions regarding dividend payment policy represent a key aspect of corporate governance, closely tied to the active involvement of board members. These decisions are often shaped by the firm's ownership structure. The growing presence of women in managerial roles further emphasizes their influence in strategic decision-making, including dividend-related choices. This study investigates the impact of board size, ownership structure, and female board representation on dividend policy among companies listed in the Kompas 100 index from 2019 to 2023, grounded in agency theory and corporate governance principles. Using multiple linear regression, the research analyzes the dividend payout ratio as the dependent variable, with independent variables including managerial, family, institutional, and government ownership, along with board size and female board representation. The findings reveal that board size, ownership structure, and female board membership collectively influence dividend policy. However, individually, ownership structure shows no significant impact, while both board size and female representation exhibit a significant positive effect on dividend policy, suggesting that larger boards and greater female participation contribute positively to dividend decisions.

Firm value is a metric that reflects investors’ perception of management’s success in managing the company, as represented by the market price of its shares. The transportation and logistics sector in Indonesia has faced significant challenges, especially since the COVID-19 pandemic, which has led to fluctuations in firm value. This study aims to analyze the effect of managerial ownership structure, sales growth, and business risk on the firm value of transportation and logistics companies listed on the Indonesia Stock Exchange (IDX) during the 2020–2022 period. This research employs a quantitative approach with an associative research design. The primary theoretical framework used is agency theory, which explains the relationship between owners and managers and highlights the importance of aligning their interests in decision-making processes. The sample consists of 16 companies selected using purposive sampling, resulting in 48 observations over three years. Data were obtained from the official IDX website and analyzed using multiple linear regression with the help of SPSS software. The dependent variable is firm value, measured by price to book value (PBV), while the independent variables are ownership structure, measured by management ownership percentage (MOP); sales growth, measured by growth sales rate (G); and business risk, measured by the degree of operating leverage (DOL). The results of the study indicate that all three independent variables have a positive and significant effect on firm value. These findings support agency theory and demonstrate that an appropriate ownership structure, stable sales growth, and effective management of business risk can enhance firm value. This study is expected to contribute to the development of accounting science and managerial practices in the transportation and logistics sector, as well as provide insights for investors in making informed investment decisions.

This research explores the impact of institutional ownership, managerial ownership, and the proportion of independent commissioners on firm performance, with earnings quality serving as a moderating variable. The study draws on a sample of companies that undertook Initial Public Offerings (IPOs) in 2019 on the Indonesia Stock Exchange, utilizing data spanning the years 2019 to 2023. A multiple linear regression model was employed to assess both direct effects and interaction effects moderated by earnings quality. The findings indicate that institutional ownership and the presence of independent commissioners exert a statistically significant influence on company performance, with earnings quality enhancing these relationships. This study enriches the discourse on corporate governance mechanisms within newly public firms and offers practical insights for both market regulators and investors.

This study aims to provide empirical evidence of the influence of state capital participation, company size, environmental costs, and company ownership structure on the financial performance of state-owned enterprises. This test uses a statistical tool, namely IBM SPSS version 25. The population in this study were all state-owned companies or BUMN, namely 113 companies and the sample selection used the purposive sampling method so that 31 companies were selected. The analysis methods used were descriptive statistical analysis, classical assumption test, multiple linear regression analysis, coefficient of determination, F test, and t test. The coefficient of determination of 0.58 indicates the ability of the independent variable to explain the dependent variable by 58%.

Earnings management remains a critical topic in financial reporting, as it can mislead stakeholders and distort the actual financial performance of a company. This study aims to analyze and test the effect of deferred tax assets, deferred tax expenses, and managerial ownership on earnings management in Consumer Non-Cyclicals companies listed on the Indonesia Stock Exchange (IDX) during the 2019–2023 period. The motivation behind this research stems from the increasing concerns over the use of tax-related components and ownership structures as instruments in manipulating financial outcomes. The research employs a descriptive method with a quantitative approach, utilizing secondary data sourced from published financial statements and annual reports. The sample is selected through purposive sampling based on specific criteria, resulting in a total of 10 companies being analyzed. The analytical techniques applied include descriptive statistics, panel data regression, classical assumption tests, multiple linear regression, and hypothesis testing to ensure robust and valid results. The findings reveal that deferred tax assets do not significantly affect earnings management practices. In contrast, deferred tax expenses and managerial ownership are found to have a significant influence on earnings management. Furthermore, when tested simultaneously, deferred tax assets, deferred tax expenses, and managerial ownership collectively exhibit a significant effect on earnings management. These results imply that while not all tax-related variables influence earnings manipulation, certain components—particularly deferred tax expenses and ownership structure—play a pivotal role. This study contributes to the literature by providing empirical evidence on the relevance of tax accounting and governance mechanisms in shaping earnings quality.

This study examines the impact of capital structure and financial performance on the firm value of manufacturing companies in the cement sub-sector listed on the Indonesia Stock Exchange, with ownership structure and audit opinion as intervening variables. Utilizing a quantitative approach, the research analyzes secondary data from financial reports of cement companies for the period 2019–2023. A purposive sampling method was employed, yielding five eligible companies. Data analysis was performed using Partial Least Square Structural Equation Modeling (PLS-SEM) with SmartPLS software.The results indicate a significant effect of capital structure and financial performance on firm value, both directly and through the intervening variables. Ownership structure and audit opinion are proven to mediate the relationship between independent and dependent variables, providing valuable insights into the dynamics of firm value in the cement industry. These findings offer important implications for company management in optimizing capital, enhancing financial performance, and gaining investor trust to improve firm value.

This qualitative literature review explores the evolving relationship between corporate governance and corporate strategy, focusing on recent insights and identifying future research directions. Drawing on a comprehensive analysis of studies from 2023–2024, the review highlights the pivotal role of governance mechanisms—such as board composition, accountability frameworks, and sustainability integration—in shaping strategic decision-making. Key findings reveal the increasing importance of diversity, long-term ownership structures, and adaptive governance practices in addressing global challenges. Furthermore, the study synthesizes the impacts of governance on strategic outcomes, emphasizing areas requiring further empirical exploration, such as the intersection of sustainability and innovation. This review contributes to the academic discourse by offering a consolidated perspective on governance-strategy dynamics while providing a roadmap for future research endeavors. Limitations and avenues for advancing the theoretical and practical understanding of this critical relationship are also discussed.

This study aims to analyze the impact of ownership structure and corporate social responsibility (CSR) on the profitability and firm value of companies listed on the Indonesia Stock Exchange. Utilizing the latest data from annual reports published between 2021 and 2023, this research employs multiple regression analysis to test the proposed hypotheses. The findings reveal that (1) ownership structure has a positive and significant effect on the firm's profitability, indicating that diversified ownership can enhance financial performance; (2) corporate social responsibility positively and significantly influences profitability, suggesting that companies engaged in CSR initiatives tend to be more profitable; (3) ownership structure does not have a significant impact on firm value, indicating that other factors may be more dominant in market valuation; (4) corporate social responsibility positively and significantly affects firm value, implying that investment in CSR can enhance positive investor perceptions; and (5) specifically, corporate social responsibility has a positive and significant impact on the firm value in the manufacturing sector listed on the Indonesia Stock Exchange. These findings emphasize the importance of sound ownership strategies and a commitment to social responsibility as key factors in enhancing both profitability and firm value.

Abstract. This study aims to analyze the effect of ownership structure, profitability, and capital structure on firm value with audit opinion and Good Corporate Governance (GCG) as moderating variables. The object of this research is a food and beverage sub-sector company listed on the Indonesia Stock Exchange (IDX) during the 2018-2022 period, analyzed using the SmartPLS-based Structural Equation Modeling (SEM) method. The results showed that most of the independent variables did not have a significant effect on firm value. GCG is also not proven to moderate the relationship between these variables and firm value. However, ownership structure has a significant effect on audit opinion, while profitability and capital structure have no significant effect on firm value. This finding indicates the influence of external factors or other variables that have not been tested, so a more comprehensive approach is needed in future research.