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PERBEDAAN KINERJA KEUANGAN PERUSAHAAN SEBELUM dan SESUDAH MERGER (Studi pada Perusahaan yang Terdaftar di Bursa Efek Indonesia)

Purwanti, Agis Siswi (2012) PERBEDAAN KINERJA KEUANGAN PERUSAHAAN SEBELUM dan SESUDAH MERGER (Studi pada Perusahaan yang Terdaftar di Bursa Efek Indonesia). Other thesis, University of Muhammadiyah Malang.

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Abstract

One attempt to become a bigger and stronger company is through expansion. Expansion can be done either in the form of internal expansion and external expansion.Internal expansion can be done through the development of business units, expanding the area of marketing, product innovation and other aspects which are developed from within the company itself. While the external expansion can be done in the form of business combination. One form of business combination is through merger. Issues to be discussed in this study are the differences of the financial ratios of listed companies in Indonesia Stock Exchange (BEI), in the period before and after the merger activity. The purpose of this study was to determine whether there is a significant improvement or deterioration in financial ratios that have been defined as a variable in the study. Financial performance measured by financial ratios with each indicator. Financial ratios used in the study include: Liquidity as measured by the Current Ratio and Quick Ratio, Solvency, as measured by Total Debt to Total Assets Ratio (TDTAR), Activity was measured with the Total Asset Turn Over (TATO) and Fixed Asset Turn Over (FATO), Profitability as measured by the Return On Equity (ROE). Type of data used in this research is quantitative data, a calculation of the company's financial ratios, obtained from financial reports from the external data companies listed on the Indonesia Stock Exchange (BEI). Sampling studies were conducted by means of purposive sampling, in order to get a sample of eight companies belonging to the three merger activity, of the total population of 12 companies that merger activity in the period 2007 to 2011. Surviving company of three merger activities include Mobile-8, Central Sole Agency, International Bentoel Investama. Data analysis methods used to answer hypotheses have been formulated, namely through statistical tests, using different test t test. Of statistical tests conducted concluded that there was no significant difference in the financial ratios of the company after the merger activity, even when seen from a comparison of the average ratio before and after the merger there was an increase or decrease. A significant increase in the ratio occurs only in merger activity between Indomobile Bhupala and Central Sole Agency, namely the liquidity as measured by the Quick Ratio and Profitability as measured by the Return On Equity.

Item Type: Thesis (Other)
Subjects: H Social Sciences > HB Economic Theory
H Social Sciences > HG Finance
Divisions: Faculty of Economics > Department of Management (61201)
Depositing User: Fitri Ramandhany
Date Deposited: 21 Nov 2015 04:41
Last Modified: 21 Nov 2015 04:41
URI : http://eprints.umm.ac.id/id/eprint/19333

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