Analisis Kinerja Keuangan Sebelum dan Setelah Akuisisi Pada Perusahaan Sektor Non Keuangan di Bursa Efek Indonesia (BEI) Periode 2015-2017
DOI:
https://doi.org/10.35870/emt.v8i4.3243Keywords:
Acquisition, Current Ratio, Quick Ratio, DAR, DER, TATO, ROA, ROE, NPM, EPSAbstract
This research was conducted to determine whether there were differences in financial performance between the 5 years before and the 5 years after the acquisition period of 2015-2017. Financial performance was analyzed using financial ratios, including the current ratio, quick ratio, DAR, DER, TATO, ROA, ROE, NPM, and EPS. This study is quantitative in nature. There were 23 companies that carried out acquisitions, with a total sample of 13 companies obtained through purposive sampling, resulting in 130 observations over a 10-year period. Data were obtained from the website of the Indonesia Competition Commission (KPPU), as well as financial reports from the Indonesia Stock Exchange or each company's website. Data analysis techniques used SPSS 26, the Wilcoxon signed-rank test, and the paired sample t-test. The results indicate significant differences in financial performance before and after the acquisition, as measured by the quick ratio, DER, and TATO. However, six financial ratios—current ratio, DAR, ROA, ROE, NPM, and EPS—showed no significant differences between the periods before and after the acquisition. After the acquisition, the companies had not yet achieved the desired synergies.
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