ANALISIS PERBEDAAN KINERJA KEUANGAN SEBELUM DAN SESUDAH AKUISISI PADA PERUSAHAAN YANG TERDAFTAR DI BEI

Abstract

The purpose of this research is to know the difference of company’s financial performance before and after acquisition. The financial performance assessment is performed by using financial ratios such as liquidity ratio, solvability ratio, activity ratio, and profitability ratio. This research used secondary data derived from STIESIA Indonesia Stock Exchange in the form of financial statements consisting of balance sheet and profit and loss with period of 3 years before and 3 years after acquisition. Data analysis method used is paired sample t test to know difference of financial performance before and after acquisition. The result of paired sample t test in 3 years before and 3 years after the acquisition of 10 tested ratios, 3 ratios (current ratio, quick ratio, and debt to assets ratio) are not significant. While the 7 ratios (cash ratio, debt to equity ratio, fixed assets turn over, total assets turn over, net profit margin, return on investment, and return on equity) differ significantly to financial performance at PT. Astra Otoparts tbk, PT. Salim Ivomas Pratama Tbk, PT. Pabrik Kertas Tjiwi Kimia Tbk, PT. Indospring Tbk, PT. Indofood Sukses Makmur Tbk, and PT. Indocement Tunggal Prakarsa Tbk.
Keywords: acquisition, financial performance, financial ratios