ANALISIS PERBANDINGAN KINERJA KEUANGAN SEBELUM DAN SESUDAH MERGER PADA PT DARYA VARIA LABORATORIA TBK

Abstract

This research determiners, analyzes and examines the effect of the merger on financial performance at PT Darya Varia Laboratoria Tbk. The financial performance was analyses by liquid ratio (current ratio, quick ratio), profitability (return on assets, return on equity), solvability (debt to assets ratio, debt to equity ratio), also activity (total assets turnover, inventory turnover). A merger is the combination of two or more companies into one entity, where only one company continues operations, while the other stopped or disbanded. Furthermore, the population comprises all annual financial statements of PT Darya Varia Laboratoria Tbk before and after the merger during 2011-2017 published by the Indonesia Stock Exchange, so the research didn’t use any sample. Moreover, the data analysis technique used financial ratio analysis, and the parametric statistical test used paired sample the t-test with the SPSS 26 version. In addition, the result shows that the current ratio, quick ratio, debt to assets ratio, and debt to equity ratio have a significant impact before and after the merger. On the other hand, return on assets, return on equity, total assets turnover, and inventory turnover have an insignificant impact before and after the merger.