KINERJA KEUANGAN PERUSAHAAN SEBELUM DAN SESUDAH MERGER DAN AKUISISI (STUDI EMPIRIS PADA PERUSAHAAN GO PUBLIC YANG TERDAFTAR DI BURSA EFEK INDONESIA)
Daftar Isi:
- This study aimed to analyze the differences of financial performance before and after the merger and acquisition. The financial performance were measured by using financial ratios: Liquidity (current ratio and quick ratio), Activities (total asset turnover, fixed asset turnover and working capital turnover), Profitability (net profit margin, return on asset, return on equity, operating profit margin and return on capital employed), and Solvency (debt to equity ratio dan debt to asset ratio). Population of this study is the go public companies in Indonesia Stock Exchange which doing acquisitions in 2010-2018. The samples of this study were obtained 22 mergers and acquirer companies using simple random sampling method, this research data obtained through the website (www.idx.co.id). Analysis of data using descriptive statistics, normality test and different test of paired sample t test. The rate error or significant used in this study was 5%. T test results showed that 4 of the 10 ratios studied were ROA, ROCE, TATO dan FAT showed significant differences in the company's financial performance before and after the merger with a significant value < 0.05, whereas for before and after the acquisition shows 8 out of 10 ratios which show significant differences in financial performance ROA, ROE, OPM, NPM, ROCE, TATO, FAT, CR and QR with a significant value < 0.05.