ANALISIS KEPUTUSAN MERGER TERHADAP KINERJA KEUANGAN PADA PERUSAHAAN YANG GO PUBLIC DI BURSA EFEK INDONESIA

Abstract

The study aims at describing the merger decision and its impact on the financial performance of companies that go public on the Indonesia Stock Exchange. This type of research data is quantitative data in the form of merging data (pooling the data) between the cross section data with time series data. The population in this study is a company that went public on the Indonesia Stock Exchange, which merged in 2005 to 2007. Elections were conducted with a purposive sampling method, and after selection, acquired 10 companies listed on the JSE are merged. Observation period of three years before and three years after the merger (t = - 3 to t = + 3). Merger year is t = 0. Based on financial performance variables used in this study, it was 4 (four) of variables, including: Current Ratio, Return on Asets, Return on Equity and Debt Ratio To Asets significant differences between before and after the merger on the companies that went public on the Indonesia Stock Exchange , while the other financial performance variables, namely: Total Asets Turn Over, Net Profit Margin and Debt To Equity Ratio has no significant difference between before and after the merger.