The Role of Corporate Risk as a Moderating Variable: The Effect of Transfer Pricing and Capital Intensity on Tax Aggressiveness
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This study aims to investigate the determinants of tax aggressiveness within the mining sector, specifically focusing on the roles of transfer pricing and capital intensity, with corporate risk as a moderating variable. Tax aggressiveness remains a critical issue in the mining industry due to high resource complexity and significant opportunities for profit shifting. Utilizing a quantitative descriptive approach, secondary data were extracted from the audited financial statements of mining companies listed on the Indonesia Stock Exchange (IDX) for the period 2020–2024. Through the application of purposive sampling, a final dataset of 50 observations was obtained. The analytical framework employs Multiple Linear Regression and Moderated Regression Analysis (MRA) to test the hypothesized relationships. The empirical findings reveal that transfer pricing exerts a significant positive effect on tax aggressiveness, suggesting that multinational mining firms frequently utilize inter-group pricing mechanisms to shift profits to lower-tax jurisdictions. Conversely, capital intensity demonstrates a significant negative effect, indicating that substantial investments in fixed assets—characterized by high transparency and strict regulatory depreciation schedules—tend to limit aggressive tax maneuvers. Furthermore, the moderation analysis highlights that corporate risk significantly amplifies the impact of transfer pricing, as high-risk environments incentivize management to prioritize tax efficiency as a buffer against volatility. In contrast, corporate risk attenuates the influence of capital intensity, reflecting a more cautious fiscal approach when operational risks are elevated. The study’s primary novelty resides in positioning corporate risk as a pivotal moderating factor that modulates managerial decision-making. These results provide strategic insights for tax authorities to enhance oversight in high-risk sectors and contribute to the academic discourse on agency-related tax planning.
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