Pengaruh Manajemen Laba dan Tax Planning Terhadap Nilai Perusahaan Dengan Corporate Governance Sebagai Moderating Variable (Studi Empiris Pada Bursa Efek Indonesia Tahun 2012-2015)

The primary objective of this study is to determine the impact of earnings management and tax planning towards the value of the firm, corporate governance is measured using score CGPI as moderating variable. This study uses purposive sampling method that generates 40 samples of company listings on the Indonesia Stock Exchange (IDX) and registered in participation Corporate Governance Perception Index (CGPI) during 2012 until 2015. Based on the test result of regression analysis showed that earnings management practices which is measured using discretionary accrual shows t value 1,142 with a p-value of 0,261, so it hasn’t impact to the value of the firm. Tax planning activity is measured using Cash_ETR which shows regression coefficients 4,821 with a p-value of 0,000 or p-value is below 0,05, which means it gives a positive impact to the value of the firm, so it can be concluded that the higher level of tax planning by management will have an impact on the increase value of the firm. Furthermore, corporate governance which is measured using the CGPI’s score is a moderating variable between earnings management and value of the firm, showed by p-value of 0,003, whereas the relationships of tax planning and value of the firm can be moderated by corporate governance, showed by p-value of 0,000. Keywords : Earnings Management, Tax Planning, Corporate Governance, CGPI’s Score, Discretionary accrual, Cash_ETR, Value of the Firm