Open AccessPerbandingan Kinerja Keuangan Sebelum dan Sesudah Merger dan Akuisisi pada Perusahaan Non-Bank yang Tercatat di BEI Periode 2015
Author(s) -
Fitriah Fatimah Amatilah,
Mochamad Edman Syarief,
Banter Laksana
Publication year - 2021
Publication title -
indonesian journal of economics and management
Language(s) - English
Resource type - Journals
ISSN - 2747-0695
DOI - 10.35313/ijem.v1i2.2505
Subject(s) - current ratio , business , asset turnover , debt to equity ratio , market liquidity , solvency ratio , business administration , profit margin , return on assets , mergers and acquisitions , debt ratio , profitability index , abnormal return , operating margin , return on equity , financial ratio , stock exchange , financial system , finance , debt , nonprobability sampling , solvency , population , demography , sociology
Merger and Acquisition is one of firm’s effort to maintain and develop life of firm. Research analyze the difference of the firm’s financial performance pre and post merger and acquisition. The sample uses companies listed on the Indonesia Stock Exchange (IDX) and conducted mergers and acquisitions in 2015. The sample consists of 3 acquirer companies that meet the criteria. This study uses a different test Wilcoxon Signed Ranks Test. The results show that of 5 financial ratios, namely, leverage ratio as measured by Debt to Equity Ratio, activity ratio as measured by Total Asset Turnover, profitability ratio as measured by Return On Assets, Return On Equity, and Operating Profit Margin, and market ratios as measured by Price to Book Value experienced significant changes between before and after the company carried out mergers and acquisitions, except for the liquidity ratio measured by Current Ratio which did not change between before and after mergers and acquisitions.