ANALISIS KINERJA KEUANGAN SEBELUM DAN SESUDAH AKUISISI PADA PT TIGA PILAR SEJAHTERA TBK DI BEI

Abstract

Every company wants to increase the company’s growth. Companies that want fast growth and business diversification can merge through mergers or acquisition.The purpose of this research is to know the difference of financial performance before and after acquisition at PT Tiga Pilar Sejahtera Tbk. The data that used in this study is the financial performance of three years before the acquisition of 2010 to 2012 and three years after the acquisition of 2014 to 2016. While the data analysis that used in this research is paired sample t-test with SPSS 24 program.The result of this research shows there is only one finantial ratio that have significant differences, namely: Net profit Margin. While the nine other ratio have no significant differences, namely: Current Ratio, Fixed Asset Turn Over, Total Asset Turn Over, Debt Equity Ratio, Debt to Total Asset, Return On Asset, Return On Equity, Operating Profit Margin, and Earning Per Share. Thus it can be comcluded that in general there is no significant differences to the financial performance of PT Tiga Pilar Sejahtera Tbk before and after the acquisition.
Keywords: Financial performance, acquisition, financial ratios, and paired sample t-test