ANALISIS KINERJA KEUANGAN SEBELUM DAN SESUDAH AKUISISI PADA PT.INDOSPRING,TBK

Abstract

Acqusition is the unification of two or more companies and then only one company left to survive as
legal entity whereas the remaining stop its activity or closed. This research does not apply samples
since the researcher conduct her research to the financial performance of PT. Indospring Tbk before
and after conducting acquisition which is listed in Indonesia Stock Exchange in 2011-2015 periods.
Meanwhile the data analysis technique has been carried out by using financial ratio analysis and
industry ratio standard analysis. Based on the result of financial ratio calculation by using paired
sample t test, there are two ratios which experience significant changes i.e. return on equity and total
assets turnover. It indicates that the financial performance of PT. Indospring Tbk after the acquisition
undergoes declination. Meanwhile, based on the financial ratio calculation by using industry ratio
standard there are some ratios which have not met the industry standards i.e. debt to equity ratio,
return on equity, total assets turnover, and fixed assets turnover which shows that the financial
performance of PT. Indospring Tbk has been stated less proper.

Keywords: financial statement, financial performance, Industry ratio, and acquisition