Analisa Pengaruh Keputusan Merger Dan Akuisisi Terhadap Perubahan Kinerja Perusahaan ( Studi Empiris Pada Perusahaan Manufaktur Yang Terdaftar Di BEI)
| Main Author: | Prabowo, Arief Seno |
|---|---|
| Other Authors: | Ismail, Mutia |
| Format: | Student Papers |
| Bahasa: | ind |
| Subjects: | |
| Online Access: |
http://repository.usu.ac.id/handle/123456789/33205 |
Daftar Isi:
- This study aims to analyze the effect of mergers and acquisitions on firm performance in Indonesia Stock Exchange. Corporate performance is measured by using financial ratios: CR (Current Ratio), DER (Debt to Equity Ratio), TATO (Total Asset Turn Over), ROA (Return on Assets) and ROE (Return on Equity). Merger is a two companies or more that do unity to strengthen the position of the company. While the acquisition is a take over, some or all shares of other companies so that the entities companies has the right of control over the target company. This study takes population from all manufacturing company that merger and acquisition activity in period 2005-2008. The samples in this study using purposive sampling methode, a sample of 13 companies from the manufacturing category in the period 2005-2008, with the appropriate criteria have been determined, the ratio of data obtained from the Indonesian Capital Market Directory (ICMD). The analysis used to test the hypothesis of this research is quantitative analysis with inferential statistical methods with the use of data normality test, Wilcoxon Signed Rank Test and and Paired Sample T-Test are used to answer hypothesis 1 to 5 (the calculation of financial ratios). The test results using the Wilcoxon Signed Rank Test showed that there was no significant difference for all the ratios after the merger and acquisition activity in all periods of observation and testing. But for the ratio of CR (Current ratio) and DER (Debt to Equity Ratio) in the period 2 years before to 2 years after and ratio DER (Debt to Equity Ratio) in the period 1 years before to 1 years after mergers and acquisitions showed significant difference, but the results are not strong enough to prove the effect of mergers and acquisitions on the financial performance of manufacturing companies.
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