ANALISIS PERBANDINGAN KINERJA KEUANGAN PERUSAHAAN SEBELUM DAN SESUDAH AKUISISI PADA PERUSAHAAN MANUFAKTUR

Abstract

The purpose of the research is to compare the financial performance of the company before and after the
acquisition of manufacturing company, whether there is a significant difference to the financial
performance of the company. Thre assessment in this research has been done by using the financial
ratios with the calculation current ratio, quick ratio, total assets turnover, debt ratio, total debt to
equity ratio, net profit margin, return on investment and, return on equity. The research has been
carried out by using the secondary data which has been obtained from Indonesia Stock Exchange, one
year period before and one year period after the acquisition in 2012(January to December) and in 2014
(January to December). The sample collection method has been carried out by using purposive
sampling, thus 3 manufacturing companies have been obtained as samples. The data analysis method
has been done by using paired samples t-test. The resultwhich is based on paired sample t-test shows
that there is no significant differenceto the financial performance of the company from all of financial
ratios i.e.: current ratio, quick ratio, total assets turnover, debt ratio, total debt to equity ratio, net
profit margin, return on investment and return on equity. It can be concluded that in general the
acquisition has not been able to improve the financial performance of the company.
Keywords: Acquisition, financial performance, financial ratios, and t-test.