ANALISIS STRUKTUR MODAL PADA PERUSAHAAN YANG MELAKUKAN MERJER DAN AKUISISI

SARDJU, FITRIANI (2008) ANALISIS STRUKTUR MODAL PADA PERUSAHAAN YANG MELAKUKAN MERJER DAN AKUISISI. Other thesis, University of Muhammadiyah Malang.

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Abstract

APB (Accounting Principles Board) Opinion No.26 stated that if one business unit with another business unit needed people gathered in one accounting unity. The tight competition condition forced the company to develop their strategy to defend their existence or developed and fix the existence. Merger and acquisition was the most popular external expansion. Samples in this research was all public manufacture company listed in Indonesia Stock Exchange and doing merger and acquisition for 1997-2005. So that the samples were 26 companies. To focus the problem, this research limited on company capital structure. Capital structure in this research seen from ratio equation Debt to Equity Ratio (DER) to two years period before and after merger and acquisition. This ratio also tested by using parametric, that was Wilcoxon. Analysis result in this research showed no different in capital structure in significant way for period before and after merger and acquisition. So that there could be identified that economic result hoped after merger and acquisition was not reached. The research was supported by Payamta and Setiawan (2004) fault. Keywords: merger, acquisiton, DAR (Debt To Equity Ratio)

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