Alizah, Sanya Salza (2023) Analisis Kinerja Keuangan Sebelum dan Sesudah Akuisisi pada Perusahaan yang Terdaftar di BEI (Sektor Energi). Undergraduate thesis, Fakultas Ekonomi dan Bisnis Universitas Merdeka Malang.

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Abstract

This study has the aim of knowing whether there are significant differences in the financial performance of companies before and after the acquisition, in companies that carry out acquisition activities. Company performance is measured using financial ratios, including Current Ratio (CR), Quick Ratio (QR), Debt to Equity Ratio (DER), Total Asset Turnover (TATO), Net Profit Margin (NPM), Return on Equity (ROE), Return on Assets (ROA), and Earning Per Share (EPS).
This research was conducted using a quantitative method, by taking data from all public companies in the energy sector listed on the Indonesia Stock Exchange (IDX) that made acquisitions between 2013-2018, sampling in this study used a purposive sampling method, with data obtained by 10 companies that made the acquisition. Data analysis methods used in this study include descriptive statistical tests, normality tests using the Kolmogorov-Smirnov test, and non-parametric tests, namely the Wilcoxon Signed Ranks Test to answer the hypothesis. The normality test was carried out to see whether the data is normally distributed or not. If the data is normally distributed, the paired sample t-test is used, but if it is not normally distributed, the Wilcoxon signed ranks test is used. The data analysis method used in this study was the Wilcoxon signed ranks test.
The results of this study indicate that almost all research variables have not changed significantly 3 years after the acquisition. These variables include Current Ratio (CR), Quick Ratio (QR), Total Assets Turnover (TATO), Net Profit Margin (NPM), Return on Assets (ROA), Return on Equity (ROE), Earnings per Share (EPS). Meanwhile, only the Debt to Equity Ratio (DER) variable showed a significant difference after 3 years of making an acquisition.

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