Tax Planning Strategy: Fixed Asset Revaluation as an Effort to Increase Tax Payment Efficiency

Dwi Anggraeni; Elmanizar Elmanizar

doi:10.58777/ras.v1i1.513

Authors

Dwi Anggraeni Faculty of Economics and Business, YARSI University, Jakarta
Elmanizar Elmanizar Faculty of Economics and Business, YARSI University, Jakarta

DOI:

https://doi.org/10.58777/ras.v1i1.513

Keywords:

Dividend Policy, Debt Policy, Stock Price

Abstract

Stock prices serve as a key indicator of a company's management and overall performance success. When stock prices increase consistently, investors and potential investors typically view the company as effectively managing its operations. High stock prices reflect strong company performance, attracting interest from investors who anticipate substantial profits that may enhance shareholder wealth. This study aims to analyze the factors influencing stock prices, with a specific focus on dividend policy and debt policy. The Dividend Policy is assessed using the Dividend Payout Ratio (DPR), while the Debt Policy is evaluated through the Debt-to-Equity Ratio (DER). The study utilizes secondary data from the Real Estate and Property industry sector listed on the Indonesia Stock Exchange, comprising a sample of 44 data points collected from the period 2013-2016 through purposive sampling. For data analysis, multiple linear regression is employed with a significance level set at 5%. The partial results indicate that Dividend Policy has a positive and significant effect on stock prices, while Debt Policy has a negative and significant impact on stock prices. Furthermore, the simultaneous analysis reveals that both Dividend Policy (DPR) and Debt Policy (DER) collectively have a significant influence on stock prices in Real Estate and Property companies, accounting for 42.4% of the variability in stock prices.

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