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--- Sys Rev Pharm 2020; 11(1): 349-357 A multifaceted review journal in the field of
pharmacy 349 Systematic Review Pharmacy Vol 11, Issue 1, Jan-Jun, 2020 The Effect of Commissioners, Profitability, Leverage, and Size of the Company to Submission
Timeliness of the Financial Statements Tax Avoidance as an Intervening Variable (Empirical Study on Pharmaceutical Companies Years 2014-2018 in Indonesia Stock Exchange) Hamilah Hamilah Sekolah Tinggi Ilmu Ekonomi YAI, Jakarta, Indonesia E-mail:
[email protected] Article History: Submitted: 20.10.2019 Revised: 26.12.2019 Accepted: 16.01.2020 ABSTRACT This study aims to obtain empirical evidence about the influence of company Commissioners, profitability, leverage and company size with tax avoidance as an intervening variable in pharmaceutical companies in Indonesia.
The independent variables in this study are company Commissioners, profitability, leverage and company size. the intervening variable in this study is tax avoidance. The dependent variable in this study is the timeliness of the submission of financial
statements. The population in this study is pharmaceutical companies listed on the Indonesia Stock Exchange (IDX) in 2014-2018 with a total of 53 companies.
Data collected by purposive sampling method so that the total sample of 53 companies and 205 of data on company financial statements are determined as an observation. The results of this study indicate that company Commissioners, profitability and leverage have a significant effect on tax avoidance, while company size has no significant effect on tax avoidance.
Company commissioner, profitability, leverage, company size, and tax avoidance have no significant effect on the timeliness of financial statement submission. So, it can be concluded that the variable tax avoidance is not a mediator among the variables of the
company commissioner, profitability, leverage, company size with the timeliness of financial statement submission variables.
Keywords: Submission Timeliness of Financial Statements, Tax Avoidance, Company Commissioner, Profitability, Leverage and Company Size. Correspondance: Hamilah Hamilah Sekolah Tinggi Ilmu Ekonomi YAI, Jakarta, Indonesia E-mail:
[email protected] DOI: 10.5530/srp.2020.1.45 © Advanced Scientific Research.
All rights reserved INTRODUCTION Along with the development of today's economy, the development of the business world is also very rapid with the increase companies go public, competition between companies is increasing (Sutduean, Sutduean, &
Jermsittiparsert, 2019). Every company is trying to attract investors to invest in his company.
The financial statements play an important role and are very beneficial to intern and extern users in making economic decisions. Therefore, the financial statements required to present quality information to be useful for the wearer. Quality of financial statements also attract investors and make the company gain trust in the public eye.
The financial report is one of the information plays an important role in business investment in capital markets, which serve as a means for companies to communicate information about the economy and measuring its resources and the performance of the various parties who have an interest in such information. Financial statement information would have benefits if it is submitted accurately and on time to its use, while the financial statements will be less useful if it is not timely reported. Punctuality shows the time between the desired presentation by reporting frequency (Calen, 2012).
Also, the publicly-traded company is required to submit its financial statements for the financial report is the result of a company as a form of corporate responsibility to convey various information about the company activities. The company's financial statements to be delivered on time due to financial pelapotan timeliness is very important for users of financial information.
But, there are still companies that have not reported financial statements on time.
According to the Financial Accounting Standards issued by the Indonesian Institute of Accountants objective of financial statements is to provide information regarding the financial position, performance, and changes in the financial position of an enterprise that will benefit a large number of users in making decisions.
Financial statements prepared for this purpose meet the common needs of most users.
To be used as a basis for consideration in the decision, the financial statements must meet the characteristics according to SFAC No. 2 that is reliable (reliable), comparable (comparability), can be understood (understandability) and relevant (relevance).
One of the qualitative characteristics of financial statements that support this research is relevant. Relevant linkage interpreted that information in financial statements must be able to influence decisions that will be taken by investors. Time short publication of financial statements is the qualitative characteristics of information to support the relevance of the information.
Statement of Financial Accounting Concept (SFAC) No. 2 which is published by the Financial Accounting Standards Board (FASB, 1978) mentions that the timeliness is defined as the availability of all the necessary information to the decision- makers. If the information is not able to be served on time, then the accuracy of the information provided would decrease its quality.
It reflects how the timeliness is one important factor in the presentation of financial statements to the public so that it calls the company not to delay the presentation of its financial statements so that the information is not lost its ability to influence
decision-making. Securities and Exchange Commission in its rules require that the annual financial statements reported the company went public must first be audited by an accountant registered in the Capital Market Supervisory Agency and Financial
Institution. Bapepam Regulation No.
XK2 Attachment of Decision of Chairman of Bapepam Number: Kep-346 / BL / 2011 dated July 5, 2011, states that the annual financial statements must be presented in comparison with the same period the previous Hamilah Hamilah et al / The Effect of Commissioners, Profitability, Leverage, and Size of the company to Submission Timelines of the Financial Statements Tax Avoidance as an Intervening Variable 350 Systematic Review Pharmacy Vol 11, Issue 1, Jan-Jun, 2020 year; The annual financial statements must be accompanied by the Accountant's report to audit the financial statements, and annual financial statements must be submitted to Bapepam no later than the end of the third month after the date of the annual financial report.
The demands for compliance at the time of publication of the financial statements of public companies in Indonesia are set in the regulations issued by the Capital Market Supervisory Agency (Bapepam), which is now merged with the institution of the Financial Services Authority (FSA). Date of August 1, 2012, has been issued by the Chairman of the regulations of the Capital Market Supervisory Agency and Financial
Institution No.
KEP-431 / BL / 2012 with attachments XK6 but this regulation has been replaced with the FSA regulation No. 29 / POJK.04 / 2016 on annual reporting issuer or public
company. In the FSA regulation No. 29 / POJK.04 / 2016 Article 7 paragraph (1) that the Issuer or the Public Company shall submit the Annual Report to the Financial Services Authority no later than the end of the fourth month after the end of the fiscal year. This regulation is valid from July 29, 2016, the date of promulgation.
Although regulations on the publication of the financial statements have been made, the Indonesia Stock Exchange (IDX) recorded the high delay in delivering the issuer's financial statements. The following data Pharmaceutical Company timely and not timely submit financial statements: TABLE 1. Classification of Data Timeliness of submission of Financial Statements Year Category amount Companies Timely Company Not Timely amount % amount % amount % 2014 107 75.35 35 24.65 142 100 2015 102 69.86 44 30.14 146 100 2016 491 92.29 53 07.71 532 100 2017 525 92.11 45 07.89 570 100 2018 598 92.14 51 07.86 649 100 amount 1,823 421.75 216 78.25 2,039 500 Source: PT.
Indonesian Capital Market Electronic Library Tax evasion (tax avoidance) is one of the factors that influence the time of the announcement of the annual financial statements.
The formulation process until the completion of tax evasion would need a short time.
That is because very many regulations governing taxation in particular to formulate tax strategy is not something simple.
Tax evasion is also one form of earnings management conducted to adjust the taxable income by the wishes of the company (Chai and Tung, 2002). National Committee on Governance / NCG (2006), in Joened and Damayanthi (2016) states that the
commissioners are very instrumental to ensure that companies do good corporate governance (GCG) by monitoring and advising the board of directors.
To avoid delays in financial reporting, the role of commissioners is needed by the
company. THEORETICAL STUDY 1. Agency theory Jensen and Meckling (1976) state that the agency theory describes as principal shareholders and management as an agent.
Management is a party contracted by the shareholders to work in the interests of shareholders.
For that management is given most of the power to make decisions in the best interest of shareholders. Therefore, management is required to account for all his efforts to the shareholders. Because the analysis unit in the agency theory is the underlying
contractual relationship between the principal and the agent, then the focus of this
theory is the determination of the most efficient contract that underlies the relationship between principal and agent.
To motivate the agent then principal design a contract to accommodate the interests of the parties involved in the agency contract. Described by Scott (2012) that there are two types of information asymmetry, namely: 1). Adverse Selection occurs because one party in a transaction to take advantage based on information in its possession, in which the other party does not have such information. 2) Hazard. A moral that managers know the level of business done in running the company, while investors do not know.
So that the manager may be tempted to perform acts that violate the contract and ethics or norms are not eligible to be done outside the knowledge of shareholders. One of the causes of financial statement manipulation is the asymmetry of information in the agency theory. Behavior manipulation often occurs in agency theory is recording high profits.
According to the agency theory, the conflict between the principal and the agent can be reduced by aligning interests between principal and agent. The presence of managerial ownership (Insider Ownership) can be used to reduce agency costs that may arise, as, which owns the company expected the manager to feel the direct benefits of each decision.
This process is called a bonding mechanism, which is a process to align the interests of management through binding program management in the company's capital. because by having the company's shares is expected to managers feel the direct benefits of each decision. This process is called a bonding mechanism, which is a process to align the interests of management through binding program management in the company's capital.
because by having the company's shares is expected to managers feel the direct benefits of each decision. This process is called a bonding mechanism, which is a process to align the interests of Hamilah Hamilah et al / The Effect of Commissioners, Profitability, Leverage, and Size of the company to Submission Timelines of the Financial Statements Tax Avoidance as an Intervening Variable 351 Systematic Review Pharmacy Vol 11, Issue 1, Jan-Jun, 2020 management through binding program management in the company's capital. 2.
Theory of Compliance According to Tyler (1990), within the framework of compliance theory, there are two basic perspectives in the sociological literature on adherence to the law, that is instrumental and normative. In terms of financial reporting to the public,
an instrumental perspective illustrates that the incentive from the company when submitted to their financial statements promptly is a public good response to the company itself.
While the normative perspective describing an individual tends to adhere to the provisions in this regard timeliness of financial reporting because it is considered as a necessity and the provision arena constituent authority to dictate proper behavior for financial reporting at a predetermined time (Prabowo, 2008). Compliance theory encourages companies to undertake to submit financial reports on time because, in addition to the company's obligation to submit financial statements on time, it will also be beneficial to the users of the report (Sulistyo, 2010). 3. Signal theory According to Gallagher, Timoty J.,
and Andrew (2007: 469), the signaling theory is based on the premise that management knows more about the company's financial future than shareholders. The asymmetry of information would occur if the management does not fully convey all of the information that may affect the value of the company to the capital market. Investors always need information that is symmetrical as monitoring the funds invested in a company.
So the company needs to provide any account information (account) on the financial statements which is a signal to inform the investors or prospective investors (Subalno, 2010). WolkH. I, and Michael G. Tearney (1997), states that the positive things in the signaling theory whereby companies that provide good information that will
differentiate them with companies that do not have "good news" to inform the market about their situation.
A good signal about future performance is given by the company's financial
performance a past not good, it will not be trusted by the market. Timely submission of financial statements will reduce the asymmetry of information, as it provides information as a positive signal to investors to invest their capital, and good information will give a positive signal to the market that the market believes in the company.
If the company is timely submitted their financial statements, the financial statements have been ascertained in good condition and not be manipulated. 4. Profit Management Theory Earnings management is a process of taking deliberate steps within the limits of generally accepted accounting principles either within or outside the boundaries of General Accepted Accounting Principles (GAAP).
Copeland (1968: 10) defines as earnings management "some ability to Increase or Decrease reported net income at will". This means that the earnings management
businesses include the management to maximize or minimize profit including income smoothing, by the wishes of the manager. Schipper (1989) defines earnings
management as an intervention with the specific purpose of the external financial reporting process intentionally to gain some personal advantage.
Fischer, Marily; Kenneth Rosenzweig(1995) defines earnings management as the act of a manager to present the report raised (lowered) profit for the period of its responsibility to business units, without causing an increase (decrease) the unit of economic
profitability in the long term. Meanwhile, according to Healy and Wahlen (1999), earnings management occurs when managers use judgment (judgment) in financial reporting and the preparation of transactions to alter financial statements, to
manipulate the amount (magnitude) in income to some stakeholders about the
economic performance of companies or to influence the outcome agreement (contract) which depends on the accounting numbers reported. income taxation also a motivation in earnings management (Lilian, 2001).
The accounting method in the earnings reporting will provide different results against income as a basis for tax calculation. 5. Financial statements The financial statements are a structured representation of the financial position and financial performance of an entity. The financial statements show the results of management accountability for the use of the resources entrusted to them.
The financial statements present information: assets, liabilities, equity, income, and expenses, including gains and losses, contributions from and distributions to owners in their capacity as owners, and cash flows (IAS 1, 2013). A financial report is a report that shows the company's financial condition at this time or in a given period.
The purpose of financial statements showing the condition of the company is a recent condition. Condition is the latest company financial state of the company on a certain date (for balance) and a certain period (for the income statement). The cash flow statement is a report that shows the cash inflows and outflows in the company.
Cash inflow in the form of income or loans from other parties, while outflows are costs already incurred companies (Cashmere, 2014, p. 7). The purpose of financial statements is to provide information regarding the financial position, financial performance and cash flows of the entity that will benefit the majority of the users in making economic decisions statements (IAS 1, 2013).
The purpose of financial reporting is to provide information about the type and amount of assets owned by the company at this time, provide information about the type and
amount of liabilities and capital of the company at this time, provide information about the type and amount of income earned in a given period, provide information about the amount of costs and types of costs incurred by the company in a given period, provide information about the changes that occur to the assets, liabilities, and capital of the company, provide information about the performance of the company's management during the period, provide information about the notes to the financial statements (Cashmere, 2014, p. 7). 6.
Timeliness of submission of Financial Statements Timely associated with the content of the report is to delay the issuance of the financial statements related to the good news (good news) and bad news (bad news). Good news is good news for investors as a good signal in determining investment. Hamilah Hamilah et al / The Effect of Commissioners, Profitability, Leverage, and Size of the company to Submission Timelines of the Financial Statements Tax Avoidance as an Intervening Variable 352 Systematic Review Pharmacy Vol 11, Issue 1, Jan-Jun, 2020 While the bad news is bad news for investors as a signal of poor in determining investment decisions (Wulantoro, 2011).
Information should be submitted as early as possible to be used as a basis to assist in decision making (Baridwan, 1995 in Indrayenti and Cindrawati, 2016). The demands for compliance at the time of publication of the financial statements of public companies in Indonesia are set in the regulations issued by the Capital Market Supervisory Agency (Bapepam), which is now merged with the institution of the Financial Services Authority (FSA).
Date of August 1, 2012, has been issued by the Chairman of the regulations of the Capital Market Supervisory Agency and Financial Institution No. KEP-431 / BL / 2012 with attachments XK6 but this regulation has been replaced with the FSA regulation No.
29 / POJK.04 / 2016 on annual reporting issuer or public company. In the FSA regulation No. 29 / POJK.04 / 2016 Article 7 paragraph (1) that the Issuer or the Public Company shall submit the Annual Report to the Financial Services Authority no later than the end of the fourth month after the end of the fiscal year. This regulation is valid from July 29, 2016, the date of promulgation. In the FSA regulation No. 29 / POJK.04 / 2016 section 19 subsection (1) describes the sanctions are without prejudice to the criminal
provisions in capital market, the Financial Services Authority may impose administrative sanctions on any person who violates the provisions of this Regulation of the Financial Services Authority, including the party that caused the breach of those provisions, either:
(a) a written warning; (b) a fine or an obligation to pay a certain amount, (c) restrictions on business activities, (d) Suspension of business, (e) the revocation of the business license, (f) the cancellation of the agreement, and (g) the cancellation of registration. 7.
Tax The tax has been completed latest by Law No. 28 of 2007 is a mandatory
contribution to the state-owned by individuals or entities that are enforceable under the Act, does not receive direct reciprocity and used for the state for the greatest prosperity of the people.
The opinion of the tax definition Mardiasmo (2011) are: Taxes are the contributions of the people to the state treasury under the Act (which can be imposed) and do not
receive reciprocal services (counter-achievement) directly demonstrated and used to pay for general expenses. Tax laws in Indonesia adopt a self-assessment, the collection system that provides full flexibility to the taxpayer to compute, calculate, pay, and report tax obligations.
The self-assessment phase stipulated in Article 12 of the Law of Taxation General Provisions. Implementation of the self-assessment system in Indonesia's tax laws as providing an opportunity for a companies. 8. Tax Avoidance The issue of avoidance on the tax burden is complex and unique problems.
On the one hand, tax avoidance is allowed, but on the other hand, it is not desirable. Tax avoidance is an effort to minimize the burden of the tax is legal and safe for the
taxpayer because it is done in ways that do not violate and are not contrary to the provisions of taxation, where the methods and techniques used tend to take advantage of the gaps or weaknesses contained in tax provisions (Pohan, 2013).
Tax evasion makes the state lose tax revenue should be used to reduce the burden on the State budget. Deliberate tax evasion by companies to reduce the level of tax payments to be done and at the same time increasing the company's cash flow. ETR is one measure of tax evasion (Hanlon and Heitzman, 2010). ETR is calculated by dividing the income tax expense and profit before tax. 9.
commissioner of the Company According to the Limited Liability Company Act No. 40 of 2007 paragraph 6, the board is organ in charge of supervising the company in general and / or special accordance with the statutes and to provide advice to the board of directors.
Commissioners are part of the organ of the company in charge of and are responsible collectively for overseeing and advising the Board of Directors and ensuring that the company implements GCG, however, the board is prohibited from participating in taking operational decisions (NCG 2006). 10. Profitability Profitability is one indicator of the success of the company to generate profits so that the higher profitability, the higher the company's ability to generate profits for the company (Hilmi and Ali, 2008).
Indicators that can be used to measure the profitability of a company consists of (Lukman Syamsuddin, 2009, p. 61-69): 1. Gross profit margin (GPM) Used to calculate the company's ability to generate earnings per rupiah gross sales. 2. Net Profit Margin (NPM) Used to calculate the company's ability to generate net earnings per rupiah sales.
3.
Return On Assets (ROA) The company's overall capability in making a profit with the overall assets available in the company. 4. Return On Equity (ROE) Used to calculate the company's overall capability in making a profit with the overall capital available within the company. 5. Operating Ratio (OPR) Used to measure the operating cost per rupiah sales. 11.
Leverage Hanafi (2009: 81) says that leverage/solvency is the ability of the company to meet its long-term obligations. Companies that are not solvable is a company whose total debt is greater than the total capital. Companies with a high leverage ratio (having a large debt) can have an impact on the emergence of large financial risk, but also have a greater opportunity to generate higher profits. These large financial risks arise because companies have to bear or burdened by interest payments in large numbers.
Conversely, companies with low leverage ratios have little financial risk but may also have a small chance anyway to generate huge profits. A reliable manager is required to have expertise in managing the level of leverage, particularly in scrutinizing the
relationship between financial risk to the level of returns generated from money owed to the company (Hery, 2015, p.191).
leverage/ Solvency high indicates the possibility that the company could not pay off liabilities or obligations whether in the form of principal and interest, indicating that the company is experiencing financial difficulties will affect the company's Hamilah Hamilah et al / The Effect of Commissioners, Profitability, Leverage, and Size of the company to Submission Timelines of the Financial Statements Tax Avoidance as an Intervening Variable 353 Systematic Review Pharmacy Vol 11, Issue 1, Jan-Jun, 2020 condition and the possibility of management tend to delay submitting financial statements contain bad news, consequently the length of time required by auditors in auditing the financial statements so that the company can not report its finances on time. 12.
Company size According to the Financial Services Authority Regulation No. 53 / POJK.04 / 2017 concerning the Registration Statement for a Public Offering and Capital Increase by Providing Pre- emptive Rights by Small Scale Asset Issuer or Issuers with Asset Medium-Sized. The size of the company is one of the factors that become the
benchmark if the company on a large or small scale.
Large enterprises more attention by the public or listed companies than small
companies. Therefore, large companies tend to maintain the company image in the eyes of the public. To maintain the image of the company tried to submit financial
statements on time (Srimindarti, 2008).
Moeljono (2005) states the size of companies that are considered of total assets, the value of the investment, the turnover of capital, means of production, number of employees, breadth of business networks, market shares, production output, the value-added tax that is paid off, and so it turned out to be the shadow of the fact that the corporation is synonymous with great company.
Nonetheless, on a limited scale, the concept of the corporation was also attached to the medium-sized enterprises will be small though, that when companies medium and small it plays a strategic role. Its role becomes strategic when the company is engaged in a business field which very little amount of the culprit. RESEARCH METHODOLOGY This research is associative (connections), the research aims to determine the relationship between two variables or more.
Based on the level of the variable notch the explanation of the present study is causal, ie the study in which the researcher wants to delineate the cause of one or more problems is called a causal study (have now, 2003, p. 126). Using this study population
Pharmaceutical Enterprises Listed on the Indonesia Stock Exchange (IDX) In the period 2014 to 2018. Data Acquisition Through Websitewww.idx.co.id, Such Pharmaceutical Company Registered in Indonesian Stock Exchange (BEI) Before January 1, 2014, and For the Period Research Must Not Exit /Experience Delisting From Indonesia Stock Exchange (BEI).
This research focus is Want to Understand the Effects of the Independent Commissioner, Profitability, Leverage, Company Size And Timeliness Of Tax Avoidance Submission of Financial Statements. The population in this research is pharmaceutical companies listed in Indonesia Stock Exchange (IDX), which consistently put the financial statements in the period from 2014 to 2018 with the number of companies 142 Company.
Enterprises Selection PUBLIC Including the category of Pharmaceutical It's Based On Due Considerations of Pharmaceutical Much To sample, so that comparison will be More.
Based Criteria Defined Using a purposive sampling method, then the amount of the Company Successful Obtained In this study total of 53 Companies With Total
observations 205 Financial Statements of the Company.
Research variables used in this study include its commissioner, profitability, leverage and the size of the company as an independent variable, timely submission of financial statements as the dependent variable and tax avoidance as an intervening variable. The test results in descriptive statistics for the independent variable, the dependent variable and the intervening variables listed in Table 2. TABLE 2.
Descriptive Statistics Source: Processed Data RESULT AND DISCUSSION Based on the results of multiple regression tests and logistic regression as explained in the previous section, interpretation of the results is presented in nine parts, the explanation of the ninth section is as follows: 1. Relations commissioner companies (KOM) against tax avoidance (ETR) Based on research result, KOM variables showed a negative regression coefficient of -0.0740.
The probability indicates a value of less than 0.05 is 0.0025. this means that the smaller the supported or rejected. This study proves that the number of its commissioner's significant effect on tax avoidance. This shows that companies that have a board of directors in large quantities, the opportunity to reduce the level of taxation lower than the company that has a board of directors in much smaller amounts.
Hamilah Hamilah et al / The Effect of Commissioners, Profitability, Leverage, and Size of the company to Submission Timelines of the Financial Statements Tax Avoidance as an Intervening Variable 354 Systematic Review Pharmacy Vol 11, Issue 1, Jan-Jun, 2020 2.
Relationships profitability (ROA) of tax avoidance (ETR) Based on research result ROA showed a negative regression coefficient of -0.3665.
The probability indicates a value of less than 0.05 in 0.0080, this means that the smaller the or rejected H0. This study proves that the profitability of a significant effect on tax avoidance. This shows that companies with high profitability had the opportunity to position themselves in tax planning that can reduce the total cost of tax obligations (Chen et al. 2010). 3. Leverage relationships (DTA) against tax avoidance (ETR) Based on research result the variable DTA showed a positive regression coefficient of 0.1102.
The probability indicates a value of less than 0.05 in 0.0162, this means that the smaller supported or rejected. This study proves that leverage significant effect on tax
avoidance. This shows that when companies perform financing through loans, the company has remained in the form of interest expense burden.
Interest expenses to reduce taxable income (deductible expense), so the use of debt loans will give a positive relationship to the activity of the corporate tax evasion. 4.
Relations firm size (SIZE) against tax avoidance (ETR) Based on research result the variable DTA showed a negative regression coefficient of -0.0331. The probability indicates a value greater than 0.05 is 0.5388, this means that the greater backed up or H0.
This study proves that the size of the company not a significant effect on tax avoidance.
This shows that the size of the companies in this study is determined by the number of total assets of the company. 5. Relations commissioner companies (KOM) to the
timeliness of financial reporting (timeliness) According to research result the variable KOM showed a positive regression coefficient of 1.5997. The probability indicates a value greater than 0.05 is 0.5063, this means that successfully backed up or H0.
This study proves that the number of its commissioners no significant effect on the timeliness of financial reports. This shows that the number of its commissioners do escort to company performance so that the management company can work up to deliver timely financial reports. 6.
Relationships profitability (ROA) to the timeliness of financial reporting (timeliness) According to research result ROA showed a positive regression coefficient of 0.1476. The probability indicates a value greater than 0.05 is 0.9598, this means that the greater backed up or H0. This study proves that the effect is not significant in profitability to the timeliness of financial reports.
This shows that companies that have high profitability tend to be more timely in
reporting on the financial statements, in which the high profitability of the good news of the company to be presented to the public. Profitability may reflect the success of a business that made the company size to walk or not. 7. Leverage relationships (DTA) to the timeliness of financial reporting (timeliness) According to research result the variable DTA showed a negative regression coefficient of -1.0657. The probability indicates a value greater than 0.05 is 0.4675, this means that successfully backed up or H0.
This study proves that the leverage effect is not significant to the timeliness of financial reports. This shows that the higher the leverage ratio assumes that the higher the proportion of the company's debt. Their ownership of debt that many by companies rated that the company is still getting a lot of confidence from the public in particular that can obtain debt financing for the deal. Besides the high debt the company also has a lot of assets so that they can run their business.
This prompted the company to deliver finances report on time because it wanted to inform the public that the trust-party financing to companies is still high and the
company has the assets are great for running its business, by existing obligations that company as an agent should be on time to deliver information in its possession to the public as the principal so that it can be used as a basis for decision making (Dewayani, Amin and Soraya, 2017). 8.
Relations firm size (SIZE) to the timeliness of financial reporting (timeliness) According to research result the variable DTA showed a positive regression coefficient of 1.4329.
The probability indicates a value greater than 0.05 is 0.1644, this means that successfully backed up or H0. This study proves that company size was not a significant effect on the timeliness of financial reports.
This shows that the company (agent) who fall into broad categories would be more timely financial reports to the public, where large companies have a lot of information that must be communicated to the public as stakeholders (principal). The information submitted is required by the public in decision-making so that companies have a responsibility to immediately submitted their financial statements because otherwise, the public will be longer in implementing the decision.
Based on the possibility of companies to be more punctual in submitting their financial statements will be higher, this is because the company is considered able to be
responsible for his efforts and then will present it soon to give a positive signal so that attract outsiders (Dewayani, Amin and Soraya, 2017). 9. Relations tax avoidance (ETR) to the timeliness of financial reporting (timeliness) Based on research result, the variable ETR showed a negative regression coefficient of -0.8323. The probability indicates a value greater than 0.05 is 0.7377, this means that the greater backed up or H0.
This study proves that tax avoidance is no significant effect on the timeliness of financial reports. This shows that companies that do tax avoidance will sacrifice the time to cover the corporate tax structure complicated and complex to avoid the tax authority so that the delivery is not timely financial reports.
Hamilah Hamilah et al / The Effect of Commissioners, Profitability, Leverage, and Size of the company to Submission Timelines of the Financial Statements Tax Avoidance as an Intervening Variable 355 Systematic Review Pharmacy Vol 11, Issue 1, Jan-Jun, 2020 10.
Relations commissioner companies (KOM) to the timeliness of financial reporting (timeliness) through tax avoidance (ETR) The results showed that the commissioner of the company has a direct relationship with the timely submission of financial statements, and the commissioner company does not have an indirect relationship with the timely submission of financial statements due to the partial test variable KOM to variable ETR has a significance of 0.0025 while the partial test ETR variable Timeliness has significance
of 0.7377.
This shows that the supervisory function of its commissioners against tax avoidance measures undertaken by the management company is doing well, but the action does not affect the tax avoidance timely or not timely in the delivery of the company's financial statements. 11. Relationships profitability (ROA) to the timeliness of financial reporting (timeliness) through tax avoidance (ETR) The results show that profitability has a direct relationship with the timely submission of financial statements, and profitability does not have an indirect relationship with the timely submission of financial statements due to the partial test ROA variable ETR has a significance of 0.0080 while the partial test ETR variable Timeliness has significance for 0.7377.
This suggests that higher levels of profitability, tax avoidance measures undertaken by the management company is doing well, but the action does not affect the tax
avoidance timely or not timely in the delivery of the company's financial statements. 12.
Leverage relationships (DTA) to the timeliness of financial reporting (timeliness) through tax avoidance (ETR) The results showed that the leverage has a direct relationship with the timely submission of financial reports, and leverage do not have an indirect
relationship with the timely submission of financial statements due to the partial test variable DTA to variable ETR has a significance of 0.0162 while the partial test ETR variable Timeliness has significance for 0.7377.
This suggests that higher levels of leverage, tax avoidance measures undertaken by the management company is doing well, but the action does not affect the tax avoidance timely or not timely in the delivery of the company's financial statements. 13. Relations firm size (SIZE) to the timeliness of financial reporting (timeliness) through tax avoidance (ETR) The results showed that the size of the company does not have a direct
relationship with the timely submission of financial statements, and the size of the company does not have an indirect relationship with the timely submission of financial statements due to the partial test variable SIZE variable ETR has a significance of 0.5388 while the partial test ETR variable Timeliness has a significance of 0.7377.
This shows that the higher the size of the company, does not affect the tax avoidance measures undertaken by the management company, and the avoidance tax measures do not affect timely or not timely in the delivery of the company's financial statements.
The results of the analysis of intervening variables as follows: 1. Commissioner of the Company (KOM) KOM (X1) to ETR (Y) = 0.0025 KOM (X1) to its timeliness (Z) = 0.5063 ETR (Y) to the timeliness (Z) = 0.7300 KOM (X1) via the ETR (Y) to the timeliness (Z) = 0.0025 x 0.7300 = 0.0018 Æ Based on the above calculation, the value of the indirect effect is smaller than the value of the direct effect, it does show that indirectly KOM (X1)
via the ETR (Y) affects is not significant to its timeliness (Z) and ETR (Y) is not a mediator between KOM (X1) and timeliness (Z). 2.
Profitability (ROA) ROA (X2) to ETR (Y) = 0.0080 ROA (X2) on the timeliness (Z) = 0.9598 ETR (Y) to the timeliness (Z) = 0.7300 ROA (X2) through the ETR (Y) to the timeliness (Z)
= 0.0080 x 0.7300 = 0.0058 Æ Based on the above calculation, the value of the indirect effect is smaller than the value of the direct effect, it does show that indirectly ROA (X2) through the ETR (Y) affects is not significant to its timeliness (Z) and ETR (Y) is not a mediator between ROA (X2) and timeliness (Z). 3.
leverage (DTA) DTA (X3) to ETR (Y) = 0.0162 DTA (X3) on timeliness (Z) = 0.4675 ETR (Y) to the timeliness (Z) = 0.7300 DTA (X3) via the ETR (Y) to the timeliness (Z) = 0.0162 x 0.7300 = 0.0118 Æ Based on the above calculation, the value of the indirect effect is smaller than the value of the direct effect, it does show that indirectly DTA (X3) via the ETR (Y) affects is not significant to its timeliness (Z) and ETR (Y) is not a mediator between DTA (X3) and timeliness (Z). 4.
Company size (SIZE) SIZE (X4) to ETR (Y) = 0.5388 SIZE (X4) against Timeliness (Z) = 0.1644 ETR (Y) to the timeliness (Z) = 0.7300 SIZE (X4) via the ETR (Y) to the timeliness (Z) = 0.5388 x 0.7300 = 0.3057 Æ Based on the above calculation, the value of the indirect effect is greater than the value of the direct effect, it does show that indirectly SIZE (X4) via the ETR (Y) has a significant influence on the timeliness (Z) and ETR (Y) mediators between SIZE ( X4) and timeliness (Z).
Based on the analysis, we can conclude that tax avoidance is not a mediator between its commissioner variables, profitability, leverage, company size with variable timely
submission of financial statements. CONCLUSION Based on the analysis and discussion that has been done on the problem by using multiple and logistic regression analysis, the conclusion as follows: 1. Commissioner company significant effect on tax avoidance on pharmaceutical companies listed in Indonesia Stock Exchange (BEI) in the period 2014- 2018. 2.
Profitability significant effect on tax avoidance on pharmaceutical companies listed in Indonesia Stock Exchange (BEI) in the period 2014-2018. Hamilah Hamilah et al / The Effect of Commissioners, Profitability, Leverage, and Size of the company to Submission Timelines of the Financial Statements Tax Avoidance as an Intervening Variable 356 Systematic Review Pharmacy Vol 11, Issue 1, Jan-Jun, 2020 3.
leverage significant effect on tax avoidance on pharmaceutical companies listed in Indonesia Stock Exchange (BEI) in the period 2014-2018. 4. Firm size is not significant to
tax avoidance on pharmaceutical companies listed in Indonesia Stock Exchange (BEI) in the period 2014-2018. 5. Commissioners, not significant effect on the timeliness of financial reports on pharmaceutical companies listed in the Indonesia Stock Exchange (BEI) in the period 2014-2018. 6.
Profitability is not a significant effect on the timeliness of financial reports on
pharmaceutical companies listed in Indonesia Stock Exchange (BEI) in the period 2014- 2018. 7. leverage no significant effect on the timeliness of financial reports on
pharmaceutical companies listed in Indonesia Stock Exchange (BEI) in the period 2014- 2018.
8. Firm size is not significant to the timeliness of financial reports on pharmaceutical companies listed in Indonesia Stock Exchange (BEI) in the period 2014- 2018. 9.
Commissioner firm has a direct relationship with the timely submission of financial statements, and the commissioner of the company has an indirect relationship with the timely submission of financial reports so that it can be concluded that the variable tax avoidance is not a mediator between variables KOM with variable timeliness in
pharmaceutical companies listed in Indonesia Stock Exchange (BEI) in the period 2014-2018. 10.
Profitability has a direct relationship with the timely submission of financial statements, and profitability has an indirect relationship with the timely submission of financial reports so that it can be concluded that the variable tax avoidance is not a mediator between ROA with variable timeliness in pharmaceutical companies listed in Indonesia Stock Exchange (IDX ) in the period 2014-2018. 11.
leverage has a direct relationship with the timely submission of financial reports, and leverage have an indirect relationship with the timely submission of financial reports so that it can be concluded that the variable tax avoidance is not a mediator between variables DTA with variable timeliness in pharmaceutical companies listed in Indonesia Stock Exchange (IDX) the period 2014-2018. 12.
The size of the company has a direct relationship with the timely submission of financial statements, and the size of the company has an indirect relationship with the timely submission of financial reports so that it can be concluded that the variable tax
avoidance as a mediator between the variable SIZE variable timeliness in pharmaceutical companies listed in Indonesia Stock Exchange (BEI) in the period 2014-2018. 13.
Based on the analysis, we can conclude that tax avoidance is not a mediator between its commissioner variables, profitability, leverage, company size with variable timely
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