The Effect of Tax Avoidance, Profitability and Leverage on Firm Value With Dividend Policy as a Moderating Variable

Firm value is the investor's perception of the company's success in managing its resources at the end of the current year, which is reflected in the company's stock price.The dividend policy is expected to increase the company's stock price.This study aims to provide empirical evidence of the effect of tax avoidance, profitability, and leverage on firm value with dividend policy as a moderating variable.The population of this study was all consumer goods sector companies listed on the Indonesia Stock Exchange for the period 2017 -2021.The sampling technique used was purposive, and 95 observations were obtained.This study uses the Statistical Product and Service Solution (SPSS) program with Moderated Regression Analysis (MRA) to analyze the moderating effect of dividend policy on the samples tested.The analysis results prove that tax avoidance has no effect on firm value, while profitability and leverage positively affect firm value.Furthermore, dividend policy can moderate tax avoidance on firm value but cannot moderate profitability and leverage on firm value.This research is expected to enrich empirical evidence in the field of financial management regarding the relationship between tax avoidance, profitability, leverage and dividend policy with firm value.Company management can consider dividend policy in implementing tax avoidance.