ANALISIS PERBANDINGAN KINERJA KEUANGAN DAN ABNORMAL RETURN PERUSAHAAN AKUISITOR SEBELUM DAN SESUDAH AKUISISI (Studi Pada Perusahaan Yang Terdaftar di Bursa Efek Indonesia Periode 2012 – 2017)
| Main Author: | Leiliya, Nabila |
|---|---|
| Format: | Thesis NonPeerReviewed Book |
| Bahasa: | eng |
| Terbitan: |
, 2019
|
| Subjects: | |
| Online Access: |
http://eprints.umm.ac.id/47185/1/PENDAHULUAN.pdf http://eprints.umm.ac.id/47185/2/BAB%20I.pdf http://eprints.umm.ac.id/47185/3/BAB%20II.pdf http://eprints.umm.ac.id/47185/4/BAB%20III.pdf http://eprints.umm.ac.id/47185/5/BAB%20IV.pdf http://eprints.umm.ac.id/47185/6/BAB%20V.pdf http://eprints.umm.ac.id/47185/7/LAMPIRAN.pdf http://eprints.umm.ac.id/47185/ |
Daftar Isi:
- The purpose of this study analyzes the comparison of the financial performance of the acquiring company measured using the ratio of Net profit margin (NPM), Return on Assets (ROA), Return on Equity (ROE), Debt to Equity (DER), Total Asset Turn Over (TATO), Earnings per Share (EPS), Current Ratio (CR) and analyze the existence of stock abnormal returns before and after the acquisition. The acquisition is a take over of part or all of the shares of another company and has the rights to the target acquisition company. Financial performance was analyzed with a period of 3 years before and 3 years after acquisition, while to test abnormal returns using the observation period (event windows) with the observation period 15 days before and 15 days after the acquisition, the population in this study is a company listed on the Exchange Indonesian Securities (IDX) which acquired in 2014 with an analysis period of 2012-2017. The sampling method in this study uses purposive sampling, there are 6 companies included in the research criteria. The data analysis technique used in answering hypotheses 1 to 9 uses data normality, and the different tests of Wilcoxon signed rank test. The results of the different tests of Wilcoxon signed rank test show 2 of 8 ratios measure financial performance significantly, namely Return On Assets (ROA) and Return On Equity (ROE). While the results of the test to determine whether or not abnormal returns using Wilcoxon signed rank test showed no improvement. The results of this study indicate that the acquisitor companies that make acquisitions have no significant differences between before and after.