ANALISIS PENGARUH MERGER DAN AKUISISI TERHADAP KINERJA KEUANGAN PERUSAHAAN MANUFAKTUR DI BURSA EFEK INDONESIA

Abstract

This study aims to find out the impact of the merger and the acquisition toward the performance of the financial companies. The performance of the financial companies is measured by applying the solvability ratio or the leverage. The type of this study is a quantitative research with the documentary data. The samples are collected by applying the purposive sampling, based on the criteria there are 6 sample companies from 124 manufacturing companies. The test of the hypothesis applies the different test of the Wilcoxon Signed Rank Test with SPSS program. The result of The hypothesis test shows that, on the DER shows there is no difference in one year before the merger and the acquisition had been done until three years after the merger and the acquisition had been done. The DAR shows there is no difference in one year before the merger and the acquisition had been done until three years after the merger and the acquisition had been done. The FCC shows there is no difference in one year before the merger and the acquisition had been done until two years after the merger and the acquisition had been done, but in one year before the merger and the acquisition had been done with three years after the merger and the acquisition had been done, there is a difference. The TIER shows there is no difference in one year before the merger and the acquisition had been done until two years after the merger and the acquisition had been done, but in one year before the merger and the acquisition had been done with three years after the merger and the acquisition had been done, there is a difference.
keywords: merger, acquisition akuisisi, financial performance, solvability ratio.