Perbedaan kinerja keuangan perusahaan bidder sebelum dan sesudah merger dan akuisisi
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Institusion
Universitas Multimedia Nusantara
Author
Devi, Khanti
Subject
658.4 Executive Management
Datestamp
2022-11-25 01:03:40
Abstract :
Rapid growth of technology and globalization causes firms to innovate in order to compete with others, such as expansion. Expansion is one of the external innovation. Firms can do the expansion by Merger and Acquisitions (M&A). After the M&A process, firms expect to have a better performance as a return to its stockholder. The purpose of this paper was to find out if there was a difference on firm financial performance before and after M&A. Financial ratio analysis, such as liquidity ratio, solvability ratio and profitability ratio were used as the indicator of the firm financial performance. There is a total of 24 firms that applied M&A within 2013. All of these firm were officially listed in the Indonesia Stock Exchange (IDX) and provide a complete financial report of 2012 and 2014. These firms will be the sample of this study. Using the comparative study method and parametric paired sample t-test, this study find that there is no statistically difference in Current Ratio, Debt to Equity Ratio and Net Profit Margin of the bidders before and after M&A. This implies that M&A didn?t give any difference of firm financial performance for a short term analysis.
Rapid growth of technology and globalization causes firms to innovate in order to compete with others, such as expansion. Expansion is one of the external innovation. Firms can do the expansion by Merger and Acquisitions (M&A). After the M&A process, firms expect to have a better performance as a return to its stockholder. The purpose of this paper was to find out if there was a difference on firm financial performance before and after M&A. Financial ratio analysis, such as liquidity ratio, solvability ratio and profitability ratio were used as the indicator of the firm financial performance. There is a total of 24 firms that applied M&A within 2013. All of these firm were officially listed in the Indonesia Stock Exchange (IDX) and provide a complete financial report of 2012 and 2014. These firms will be the sample of this study. Using the comparative study method and parametric paired sample t-test, this study find that there is no statistically difference in Current Ratio, Debt to Equity Ratio and Net Profit Margin of the bidders before and after M&A. This implies that M&A didn?t give any difference of firm financial performance for a short term analysis.
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