Pengaruh Merjer dan Akuisisi terhadap Kinerja keuangan Perusahaan di Bursa Efek Jakarta: studi empiris perusahaan manufaktur periode 1990-2000

Shodiq, Jafar, Drs. M. Irfan Nursasmito, AK. M.Si.

2007 | Skripsi | S1 Extention - Accounting

Cases of merger and acquisition made by a company can bring about change in the financial performance of the company concerned, as reflected in the position and condition of its financial statements. This study is an empirical study that seeks to test financial performance to a merger and acquisition. The objective of this study is to examine the effect of merger and acquisition on manufacturing firms performance in Jakarta Stock Exchange. Firm performance is measured using financial ratios: Return on Investment (ROI) for profitability ratio, Current Ratio (CR) for liquidity ratio, and Debt to Total Assets (DA) for solvability ratio. Sample of this study consists of 31 manufacturing firms from 1990-2000. We use t-test (Paired Sample t Test) for research analysis. The results of analysis using t-test indicate the following : (1) There was a significant difference on firms profitability ratio between the period 2 years before and 2 years after merger and acquisition. (2) There was not significant difference on firms liquidity ratio between the period 2 years before and 2 years after merger and acquisition. (3) There was not significant difference on firms solvability ratio between the period 2 years before and 2 years after merger and acquisition. Keywords : Merger and Acquisition, Firms Performance, Financial Ratio

Kata Kunci : Merger and Acquisition, Firms Performance, Financial Ratio