ANALISIS PERBEDAAN KINERJA KEUANGAN SEBELUM DAN SESUDAH AKUISISI PADA PT INDOSPRING TBK

Abstract

The assessment of financial performance has been done by using financial ratios i.e. liquidity ratio
(current Ratio), (quick ratio), activity ratio (total asset turn over),(fixed asset turn over),(receivable
turn over), solvability ratio (debt to total asset ratio), (debt to equity ratio), profitability ratio (net
profit margin),(gross profit margin),(return on asset),(return on equity). This research uses secondary
data which has been obtained from Indonesia Stock Exchange STIESIA in the form of financial
statement which consists of balance sheet and loss profit in the 2-year periods before and 2-year
periods after acquisition. The data analysis method has been carried out by using paired sample t test
in order to find out the financial performance before and after acquisition. The result of paired sample
t test calculation in the periods of 2-year periods before and 2-year periods after acquisition from the
tested 11 ratios,there are 2 ratios (total asset turnover) and (return on equity) which have significant
difference. Meanwhile, the remaining 9 Ratios i.e. (current ratio), (quick ratio),(fixed asset
turnover),(receivable turnover),(debt to total asset ratio),(debt to equity ratio),(net profit
margin),(gross profit margin) and (return on asset) does not have any different

Keywords : acquisition, financial ratio, and t test