ANALISIS PERBANDINGAN KINERJA KEUANGAN SEBELUM DAN SESUDAH AKUISISI PT COWELL DEVELOPMENT, TBK TERHADAP PT PLAZA ADIKA LESTARI

Abstract

This research is aimed to find out whether the financial performance of PT Cowell Development, Tbk after it has been acquisitioned is getting better than before it has been acquisitioned when it is measured by using liquidity ratio, solvability ratio, activity ratio, and profitability ratio. This research is a comparative research. Meanwhile, when it is considered from the scope of the problems. The data analysis technique has been performed by using Paired Sample t-test. The result of paired sample t-test shows debt to assets ratio and debt to equity ratio that these variable are improve after the company has conducted acquisition. Current ratio, quick ratio, total assets turn over ratio, fixed assets turnover ratio, net profit margin, return on assets, and return on equity that these variable are not improve after the company has conducted acquisition. It shows that the corporate financial statement of PT Cowell Development, Tbk is not improved after the companyhas conducted acqusition. It means that the purpose of conducting this acquisition is not only to gain profit but there are other issues which companies want to achieve for their goals.
Keywords: Financial performance, financial ratio, acquisition.