ANALISIS RASIO KEUANGAN SEBELUM DAN SESUDAH AKUISISI PADA PT. AGUNG PODOMORO LAND

Abstract

The purpose of this research is to find out whether the financial performance on PT. Agung Podomoro Land Tbk after the acquisition is better than before the aquisition when it is measured by using current ratio, quick ratio, debt to asset ratio, debt to equity ratio, return on assets, and return to equity. This research is a comparative research. This research uses case study which focuses on case study of PT. Agung Podomoro Land, Tbk which conduct acquisition to the 99.9% shares of PT. Buana Surya Makmur. The data analysis techniques has been done by using paired sample t-test. Based on the result of the analysis which has been done by using paired samples t-test shows that current ratio show that variable is better after the company conducts acquisition. Quick ratio, debt to asset ratio, debt to equity ratio, return on assets, and return on equity shows that these variables are not even better after the company conducts acquisition. It shows that the financial performance of PT. Agung Podomoro Land, Tbk is not even better after the acquisition. It means that the primary motive of the acquisition activity is not to gain profit only, but there are other things which want to be achieved by the company for their objectives.
Keywords: financial performance, financial ratios and acquisitions.