ANALISIS PERBEDAAN KINERJA KEUANGAN SEBELUM DAN SESUDAH AKUISISI PADA PERUSAHAAN YANG TERDAFTAR DI BURSA EFEK INDONESIA

Uliakbar, Yoko (2010) ANALISIS PERBEDAAN KINERJA KEUANGAN SEBELUM DAN SESUDAH AKUISISI PADA PERUSAHAAN YANG TERDAFTAR DI BURSA EFEK INDONESIA. Other thesis, University of Muhammadiyah Malang.

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Abstract

Research is a quantitative study conducted at the companies listed in Indonesia Stock Exchange (ISE) with the title “the analysis of financial performance differences before and after the acquisition of the companies listed in ISE”. The objective of research is (1) to understand the pre-acquisition financial condition of the companies listed in ISE, (2) to examine the post-acquisition financial condition of the companies listed in ISE, (3) to acknowledge the significant difference of pre- and post-acquisition financial performance of the companies listed in ISE. Research uses ratio analysis. The financial ratio comprises to current ratio, return on investment, debt to equity ratio, earning per share, price earning ratio, and return on equity. Data analysis technique employs normality test for the first time. It is followed by t-test (Paired Two-Sample For Means) for the normal distributed data, and continued with signed rank test (Wilcoxon’s Signed Rank Test) for the abnormal distributed data. The population covered is the companies listed in ISE with the capability of acquisition in the period of 2001-2005. The sample has been collected by purposive sampling technique. The sample is selected by the criteria of all companies listed in ISE with the capability of acquisition in the period of 2004-2005 and with readiness to provide the data. The data observed are the documentation data, precisely the financial statement published from secondary data published by ISE. These data are taken from ISE Corner in Faculty of Economic, Malang University of Muhammadiyah. Results indicate that the significant difference exists between the financial performance measured by price earning ration for a year before and after acquisition. For other ratio, it seems lack of significant difference meaning that the company’s additional value may not been accomplished. According to the results, research may suggest that the company should conduct acquisition to improve its performance, especially its function related to the effective and efficient management of fund sources to attract the investors for investment. To consider investment, the investors must examine the internal factors such as the company management performance, and the external factors for its effect on the share price offering.

Item Type: Thesis (Other)
Subjects: H Social Sciences > H Social Sciences (General)
Divisions: Faculty of Economic > Department of Management
Depositing User: Rayi Tegar Pamungkas
Date Deposited: 20 Mar 2012 14:59
Last Modified: 20 Mar 2012 14:59
URI: http://eprints.umm.ac.id/id/eprint/689

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