The Effect of Corporate Governance and Companies’ Characteristic on Tax Payment Efficiency with Managerial Risk as Intervening Variable

The purpose of this study was to examine the influence of corporate governance to efficiency of the tax payments with managerial risk as the intervening variable. This research used proxie effective tax rate to measure efficiency of the tax payments.The population of this research is manufacturing companies listed on the Indonesia Stock Exchange in 2010 – 2012. The sample of this research are 59 companies was taken by using purposive sampling method. This research used path analysis software with AMOS version 21 as the instrument to test the hypotheses. In analyzing the data, this research used descriptive analysis, path analysis and sobel test method. The result of this study revealed that institutional ownership, audit committee have a negative effect on efficiency of the tax payments. The proportion of independent board has a negative effect to managerial risk. Capital intensity has a positive effect to efficiency of the tax payments. Audit quality, managerial risk, and size have a positive effect on efficiency of the tax payments. This study also showed that managerial risk cannot mediate the effect of corporate governance mechanisms on efficiency of the tax payments. Suggestions for future researcher is to use another methods to measure the efficiency of tax payments. Changing the intervening variables with other variables except managerial risk as leverage for managerial risk, because in this research was can not as an intervening variable.