ANALISIS PERBEDAAN KINERJA KEUANGAN PERUSAHAAN SEBELUM DAN SESUDAH MERGER DAN AKUISISI PADA PERUSAHAAN YANG TERDAFTAR DI BURSA EFEK INDONESAI PERIODE 2015-2016

Abstract

The purpose of this study is to analyze the differences in the company’s before and after
mergers and acquistions in companies conducting merger and acquistions activities in 20152016.
The
company’s
financial

performance
is
measured
by
financial
ratio
consist
of:
Current

Ratio
(CR),
Debt
to
Equity
Ratio(DER),
Total
Assets
Turnover
(TATO),
Return
On
Euity
(ROE),
and

Earning

Per Share (EPS). The sample used in this study were 6 companies. The sample was
chosen using a purposive sampling method. The type research used in this research is
descriptive with SPSS 23.Data analysis consisted of Descriptive Statistics, Normality Test using
Kolmogrov Smirnov, and hypothesis testing using Paired Sample t-test and Wilcoxon Signed
Rank Test. Based on hypothesis testing using Paired sample t-test and Wilcoxon Signed Rank
Test performance of companies after mergers and acquistions there is no significant
differencein liquidity ratios, activity ratios, profitability ratios, and market value ratios. In other
words, the decision of merger and acquisition does not affect the level of company liquidity, the
level of company debt and the efficiency of the company in its operational activities, and
changes also not occur in the ratio of profitability and the ratio of the company”s market value.