THE EFFECTS OF TAX AVOIDANCE ON FIRM VALUE WITH TAX RISK AS MODERATING VARIABLE (Empirical Study on Manufacturing Companies Listed on Indonesia Stock Exchange during the period of 2012 to 2016)

This study aims to determine the effect of tax avoidance on firm value with tax risk as moderating while the control variable are leverage, firm size, return on assets and sales growth. The population of this study is listed on the Indonesia Stock Exchange period 2012 to 2016. In the sample selection using purposive sampling technique to get 60 companies that meet the criteria, with total sample of 150 observation data and using moderation regression analysis (MRA) and multiple linear regression analysis as the method to achieve that goal. The results of this study indicate that tax avoidance that value using Current ETR has a positive effect on firm value by proxy of Tobins’Q. Tax risk that was proxied by Standard Deviation of Cash ETR can affect the effect of tax avoidance on firm value