EVALUASI KINERJA KEUANGAN PERUSAHAAN GO PUBLIC PRE AND POST MERGERS AND ACQUISITIONS (LISTED DI BEI TAHUN 2012-2016)
Dublin Core
Title
EVALUASI KINERJA KEUANGAN PERUSAHAAN GO PUBLIC PRE AND POST MERGERS AND ACQUISITIONS (LISTED DI BEI TAHUN 2012-2016)
Subject
mergers, acquisitions, operating performance
Description
This study aims to determine differences in company performance between before and after conducting mergers and acquisitions in going public companies listed on the Indonesia Stock Exchange in 2012-2016. Researchers also want to know which industries are best affected by the application of M&A to companies in the industry. This study uses 10 ratios in measuring the financial performance of companies that are included in the category of profitability, leverage, liquidity and efficiency as the dependent variable. While the independent variables are mergers and cquisitions.
The population of this study uses all publicly traded
companies that made mergers and acquisitions in 2012-2016. The research sample consisted of 57 companies that passed the research sample criteria. These criteria are companies that did mergers & acquisitions and listed IDX from 2012-2016 and companies that did mergers & acquisitions and were listed on the IDX but did not have complete data from 2012-2016 (T-3 to T +
2). This research uses event study method with 2 years window period, which is 3 years before the announcement and 2 years after the announcement of corporate action. Data were analyzed using Paired Sample Test / Wilcoxon-Signed Rank Test. The results of the study show that mergers and acquisitions do not make a
difference in impact on company performance in the short term (T-1 and N), but mergers and acquisitions cause a decline in company performance in the longer term (T-3 and T + 2). This shows that the decline in the company’s performance in about 2-3 years after the implementation of mergers and acquisitions is in line with the decline in the company’s stock performance. Other results from this study also found that various industry industries were the industries that were most affected by the application of M&A.
The population of this study uses all publicly traded
companies that made mergers and acquisitions in 2012-2016. The research sample consisted of 57 companies that passed the research sample criteria. These criteria are companies that did mergers & acquisitions and listed IDX from 2012-2016 and companies that did mergers & acquisitions and were listed on the IDX but did not have complete data from 2012-2016 (T-3 to T +
2). This research uses event study method with 2 years window period, which is 3 years before the announcement and 2 years after the announcement of corporate action. Data were analyzed using Paired Sample Test / Wilcoxon-Signed Rank Test. The results of the study show that mergers and acquisitions do not make a
difference in impact on company performance in the short term (T-1 and N), but mergers and acquisitions cause a decline in company performance in the longer term (T-3 and T + 2). This shows that the decline in the company’s performance in about 2-3 years after the implementation of mergers and acquisitions is in line with the decline in the company’s stock performance. Other results from this study also found that various industry industries were the industries that were most affected by the application of M&A.
Creator
Indra Gunawan
Source
http://jam.stieykpn.ac.id/index.php/jam/issue/view/129
Publisher
STIE YKPN Yogyakarta
Date
April 2020
Contributor
Sri Wahyuni
Rights
P ISSN 2621-7031
E ISSN 2621-704X
E ISSN 2621-704X
Format
PDF
Language
Indonesian
Type
Text
Coverage
Jurnal Akuntansi dan Manajemen STIE YKPN Yogyakarta 2020
Files
Collection
Citation
Indra Gunawan, “EVALUASI KINERJA KEUANGAN PERUSAHAAN GO PUBLIC PRE AND POST MERGERS AND ACQUISITIONS (LISTED DI BEI TAHUN 2012-2016),” Repository Horizon University Indonesia, accessed February 5, 2025, https://repository.horizon.ac.id/items/show/5581.